Money

By Mark Thompson and Clare Sebastian, CNN Business Russia slashed interest rates on Thursday as a resurgent ruble — buoyed by robust oil and gas revenues and government support — takes some pressure off its wobbling economy. At an extraordinary meeting, the Russian central bank cut interest rates to 11% from 14% and said further

By Nathaniel Meyersohn, CNN Business At the grocery store, shoppers have seen food prices increase at their fastest pace in decades. Yet the price of one hot, juicy, spit-roasted favorite hasn’t budged at several top chains: rotisserie chickens. Despite a 16.4% annual increase in chicken prices rotisserie chickens remain $4.99 at Costco and BJ’s Wholesale

By Jessie Yeung, CNN Business China’s cabinet held an emergency meeting with more than 100,000 participants on Wednesday, according to state media, as top leaders urged new measures to stabilize an economy battered by the country’s stringent Covid-19 restrictions. The unexpected video teleconference by the State Council was attended by officials across provincial, city and

By Matt McFarland, CNN Business Retail sales of new cars are forecast to fall 20.9% this month compared to the same time last year, amid vehicle shortages and sky-high prices, according to the automotive research firms J.D. Power and LMC Automotive. The forecast is in part due to ongoing supply chain disruption and the resulting

By Anneken Tappe, CNN Business The Federal Reserve means business when it comes to tightening monetary policy. After raising its benchmark interest rate by half a percentage point earlier this month — the first rate hike of that magnitude in more than two decades — investors should brace for more of this medicine, the central

By Julia Horowitz, CNN Business Mykhailo Fedorov, Ukraine’s minister of digital transformation, hadn’t left the country since Russia invaded three months ago. But he traveled hundreds of miles from Kyiv to Davos, Switzerland, to send a message to some of the world’s biggest technology companies: We need you to do more. Fedorov said in an

Opinion by Kara Alaimo for CNN Business Perspectives Earlier this month, a federal appeals court ruled that a Texas law, which allows residents to sue social media companies for “censoring” what they post, could go into effect. The state law, referred to as HB 20, makes it illegal for large social networks like Facebook and

By Jordan Valinsky, CNN Business Sweet and salty are a famous pair when it comes to snacks, and a new Oreo and Ritz collaboration is leveraging just that. The two brands, owned by Mondelēz International, are launching a limited-time snack called “Oreo x Ritz.” It’s one part cracker and another part cookie, joined together by

By Allison Morrow, CNN Business In the peak of 2020 lockdowns, giant oil companies had a wake-up call. Demand had cratered, sapping profits, and it wasn’t clear when it would end. That gave environmentally minded investors an in. The pitch: Get on the clean and green path or perish. Fossil fuel companies, especially in Europe,