By Anneken Tappe, CNN Business Soaring prices are weighing on consumer sentiment, but Americans have not cut back on their spending — at least not yet. Now, some economists worry that along with the tight labor market and rising wages, high inflation could become a self-fulfilling prophecy. America’s job market is on fire, and most
Continue Reading
By Parija Kavilanz, CNN Business Russia’s refusal to rule out nuclear war has put the world in an unsettling reality: The unthinkable is suddenly a possibility — if extremely remote. One drugmaker, Partner Therapeutics, isn’t waiting to take action. The company said it is helping to ramp up supply in Europe of Leukine, a drug
Continue Reading
By Brian Stelter, CNN Business On Tuesday CNN is introducing CNN+, a subscription streaming service that combines live news coverage, on-demand programming and interactive interviews. CNN’s goal is to establish closer relationships with news consumers — the same way Netflix and HBO Max have done in entertainment. It has hired hundreds of people and developed
Continue Reading By Brian Stelter, CNN Business On Tuesday CNN is introducing CNN+, a subscription streaming service that combines live news coverage, on-demand programming and interactive interviews. CNN’s goal is to establish closer relationships with news consumers — the same way Netflix and HBO Max have done in entertainment. It has hired hundreds of people and developed
Continue Reading
By Jeanne Sahadi, CNN Business The practical, financial and emotional difficulties of being a refugee are unfathomable. But for the millions of people who have fled Ukraine since Russia invaded, one obstacle may be somewhat easier to tackle in the coming months: Making a living. Businesses and organizations from all over are creating free online
Continue Reading
By Frank Pallotta, CNN Business The 94th Academy Awards featured one of the most shocking moments in the show’s long history. It also included a significant ratings bump for ABC. The show drew an average of 15.3 million viewers for ABC on Sunday, according to early Nielsen numbers. That’s a 56% increase from last year’s
Continue Reading
By Catherine Thorbecke and Jackie Wattles, CNN Pete Davidson was initially slated to be the next headline-grabbing name to take flight aboard the suborbital space tourism rocket developed by Jeff Bezos’ company, Blue Origin, after the commercial space company launched several other famous faces on its previous flights. But the comedian abruptly dropped out of
Continue Reading
By Matt Egan, CNN Business The House Oversight Committee launched a probe Monday into Credit Suisse, demanding documents linked to the bank’s compliance with sanctions on Russian oligarchs. In a letter to Credit Suisse CEO Thomas Gottstein, US lawmakers asked the bank to turn over information and documents about a portfolio of loans backed by
Continue Reading
By Paul R. La Monica, CNN Business Tech stocks have taken a tumble this year, but some investing experts say there are now plenty of good values in the sector. You just have to look beyond the increasingly tired MT. FAANG stocks. The FAANG part of the acronym refers to the first letters of the
Continue Reading By Catherine Thorbecke and Jackie Wattles, CNN Pete Davidson was initially slated to be the next headline-grabbing name to take flight aboard the suborbital space tourism rocket developed by Jeff Bezos’ company, Blue Origin, after the commercial space company launched several other famous faces on its previous flights. But the comedian abruptly dropped out of
Continue Reading
As told to by Sabina Bhatia, deputy secretary of the International Monetary Fund Covid-19 wreaked economic havoc on women globally, especially mothers, bringing into sharp focus the policies and practices that continue to thwart gender equality at work and at home. This widening chasm troubles Reshma Saujani, a leading activist, founder of the Marshall Plan
Continue Reading
By Nathaniel Meyersohn, CNN Business Walmart, the world’s largest retailer, will stop selling cigarettes in select US stores following years of pressure on big chains to end tobacco sales. Cigarettes are being removed from Walmart in various markets, including some stores in California, Florida, Arkansas and New Mexico, the Wall Street Journal reported Monday. In
Continue Reading
By Charles Riley, CNN Business Novaya Gazeta, the independent Russian newspaper edited by Nobel Peace Prize winner Dmitry Muratov, is suspending publication until the end of the war in Ukraine. The newspaper’s editorial board said in a statement on Monday that it had received a warning from Russia’s federal media regulator Roskomnadzor after independent journalists
Continue Reading
By Matt Egan, CNN Business Covid fears are rocking the oil market Monday as China’s planned lockdown of Shanghai raises concerns about energy demand. US crude tumbled 7% and Brent lost 6.8% on the Covid news, giving back most of last week’s big gains. The heavy selloff comes after officials in China announced plans to
Continue Reading By Matt Egan, CNN Business Covid fears are rocking the oil market Monday as China’s planned lockdown of Shanghai raises concerns about energy demand. US crude tumbled 7% and Brent lost 6.8% on the Covid news, giving back most of last week’s big gains. The heavy selloff comes after officials in China announced plans to
Continue Reading As told to by Sabina Bhatia, deputy secretary of the International Monetary Fund Covid-19 wreaked economic havoc on women globally, especially mothers, bringing into sharp focus the policies and practices that continue to thwart gender equality at work and at home. This widening chasm troubles Reshma Saujani, a leading activist, founder of the Marshall Plan
Continue Reading
By Chris Isidore, CNN Business Tesla is asking its shareholders for permission to split its stock for the second time in two years. This split would come in the form of a dividend, which would pay shareholders additional shares. Most dividends pay cash to investors. The electric car maker did not give details about how
Continue Reading
By Julia Horowitz, CNN Business Many countries around the world have decided to live with the coronavirus, even as a new subvariant fuels another wave of infections. But China is an extremely important exception. What’s happening: China continues to deploy “snap” lockdowns as it tries to eliminate transmission of Covid-19 within its borders. The policy
Continue Reading
By Michelle Toh, CNN Business Meng Wanzhou, the senior Huawei executive whose detainment in Canada became a flashpoint of US-China tensions, returned to the corporate stage Monday as sanctions continue to slam its business. The chief financial officer’s first appearance since her release came at an earnings presentation in Shenzhen where she took questions from
Continue Reading
By Chris Isidore, CNN Business Elon Musk says he has Covid for a second time, but he is feeling relatively well. In a tweet early Monday, the CEO of Tesla and SpaceX said he “supposedly have it again (sigh), but almost no symptoms.” He previously tested positive for Covid in November 2020, before a vaccine
Continue Reading