Money

By Anna Cooban, CNN Business The UK government is cutting payroll taxes and duties on fuel in an attempt to take some of the sting out of the worst cost of living crisis in decades. But it resisted calls to impose a new windfall tax on oil company profits to raise money to fund more

By Paul R. La Monica, CNN Business The meme stocks are back. Shares of GameStop and AMC, two companies beloved by traders on Reddit and other social media platforms, are surging again. Shares of GameStop rose more than 30% Tuesday and were up another 16% Wednesday. AMC soared 15% Tuesday and gained 20% Wednesday. GameStop

By Matt Egan, CNN Business Former Trump national security adviser H.R. McMaster said Russian President Vladimir Putin has been caught off guard by the West’s united front deploying tough sanctions in response to the invasion of Ukraine — and that the Biden administration deserves credit for helping foster that unity. “Putin perceived weakness and disunity,”

By Nadeen Ebrahim, CNN The war in Ukraine is only a month old, but its shockwaves are already being felt as far away as the Middle East, putting governments on edge as tensions simmer at home. “This crisis may be significantly more severe than the coronavirus crisis,” said Egyptian prime minister Mostafa Madbouly during a

By Kathryn Vasel, CNN Business Sticking to a budget can be hard enough when it’s just your own spending and saving you’re tracking. Add another person to the mix and it can get even trickier. You might not think twice about spending $100 on a pair of new shoes, but your partner could consider that

Opinion by Asa Hutchinson and Phil Murphy for CNN Business Perspectives As Americans strive to emerge from the darkest days of the Covid-19 pandemic, our reliance on products from outside the US has been on stark display. From a dearth of new cars to the increasing costs of construction materials to shortages of some household

By Charles Riley, CNN Business Western sanctions are decimating Russia’s economy and sending shockwaves through global markets. Still, there is more to come from the United States and its allies. President Joe Biden flies to Europe on Wednesday on a trip that includes meetings with EU, NATO and G7 leaders. On Thursday, Biden will announce

By Michelle Toh, CNN Business War in Europe has triggered a massive flight of capital from an Asian island nearly 5,000 miles away. Over the last month, Russia’s invasion of Ukraine has heightened concerns about the risk that China could increase its military force against Taiwan, triggering what some analysts have described as an unprecedented

By Chris Isidore, CNN Business Workers at a Starbucks store in its Seattle hometown voted unanimously to be represented by a union, giving the organizing effort by some company employees their most one-sided victory to date. The store is a small one, with 13 employees eligible to vote, and only nine had their votes counted.

By Chris Isidore, CNN Business You might not know Sean O’Brien. But he is poised to shake up the US economy in a way no one else has in recent memory. O’Brien was sworn in Tuesday as the new general president of the 1.3-million member International Brotherhood of Teamsters, succeeding James Hoffa, son of the

By Nicole Goodkind, CNN Business Goldman Sachs CEO David Solomon will DJ at Chicago’s Lollapalooza music festival this July alongside acts like Metallica, Dua Lipa, Doja Cat, and Green Day. The 60-year-old, who moonlights as an electronic dance DJ when he’s not running one of the largest investment banks in the world, has brought in

By Matt McFarland, CNN Business Tesla opened its third assembly plant near Berlin, Germany, and made the first deliveries of its Model Y sedan there Tuesday. The world’s most valuable automaker will reportedly produce as many as 500,000 vehicles a year at the plant and plans to hire as many as 12,000 workers. The capacity

By Jennifer Korn, CNN Business BuzzFeed News announced on Tuesday that its editor in chief is stepping down and the company is offering buyouts to eligible staffers that could turn into layoffs. Editor in Chief Mark Schoofs, who replaced Ben Smith in 2020, announced his decision to the newsroom Tuesday. Samantha Henig, BuzzFeed’s vice president

By Danielle Wiener-Bronner, CNN Business A few weeks after Russian President Vladimir Putin began his assault on Ukraine, American restaurants said they would pull out of Russia. But many of them remain open. McDonald’s, Starbucks, Papa Johns and the owner of Burger King, among others, have said that they would either shut down operations in