Money

By Nicole Goodkind, CNN Business Edward “Ned” Johnson III, who oversaw Fidelity Investments’ transformation into a financial services powerhouse and pioneered the sale of mutual funds directly to individual investors, died Wednesday. He was 91 years old. Johnson died in Florida surrounded by family, according to Fidelity. “He was a visionary, an innovator, and a

By Paul R. La Monica, CNN Business It’s been an exciting NCAA men’s basketball tournament so far. Baylor, the reigning champ, is already out. Perennial powerhouses Gonzaga and Duke still look solid. And we have this year’s Cinderella: hello, Saint Peter’s Peacocks! For investors in sports betting stocks, however, March Madness has been a bit

By Allison Morrow, CNN Business Foreign businesses have for decades reaped the benefits of setting up shop in Hong Kong, a historically stable, expat-friendly finance hub at the doorstep of mainland China. But lately, as Beijing has tightened its grip on the former British colony, those firms are increasingly eyeing the exits. Nearly half of

Opinion by Nikos Tsafos for CNN Business Perspectives In a matter of weeks, the war in Ukraine has upended an energy relationship between Europe and Russia that goes back decades. Europe understands that it cannot sever ties with Russia overnight, as it still needs Russian energy. But Russia’s role in the European and global energy

By Jeanne Sahadi, CNN Business Unless you enjoy throwing money away, you’ll want to do all you can to avoid being hit with tax penalties and interest if you end up owing money to the IRS on your 2021 tax return. Even a relatively small balance owed can balloon quickly. Say you owe the IRS

By Paul R. La Monica, CNN Business Just 187,000 people in the United States filed for initial weekly unemployment benefits last week, lower than economists’ expectations of 210,000, according to data released Thursday by the Department of Labor. The last time the weekly number was that low was September 6, 1969, shortly after Neil Armstrong

By David Goldman, CNN Business As Russian soldiers bear down on Ukraine, increasingly desperate Ukrainians are running out of food and medicine. The economic fallout from the invasion is beginning to spill over to the rest of the world, too. Forecasts for global growth are being slashed and the chance of a US recession in

By Anna Cooban, CNN Business Russia’s invasion of Ukraine has ended globalization as we know it, says the head of BlackRock, the world’s largest asset manager. BlackRock CEO Larry Fink told shareholders in a letter on Thursday that Russia’s “decoupling from the global economy” following its assault on Ukraine has caused governments and companies to

By Charles Riley, CNN Business Russia is breaking market rules left and right as its financial isolation deepens. The latest: Russia’s stock market reopened on Thursday after it was shuttered for a month. Under normal circumstances, there wouldn’t be much demand for shares in Russian companies considering they do most of their business in an

By Xiaofei Xu, CNN French carmaker Renault announced in a statement Wednesday that it has suspended all activities at its Moscow factory. The announcement comes as Ukrainian leaders have called for a boycott against the company, and accused Renault of “sponsoring Russia’s war machine.” Just one day earlier, Renault had said it was resuming production