Money

By Anneken Tappe and Paul R. La Monica, CNN Business The Federal Reserve needs to move quickly to raise interest rates and normalize its monetary policy, according to Fed Chairman Jerome Powell. Between a strong job market and soaring inflation, “there is an obvious need to move expeditiously to return the stance of monetary policy

By Ramishah Maruf, CNN Business The Securities and Exchange Commission proposed a climate disclosure rule Monday, a move that would boost the Biden administration’s goal to combat climate change. The rule would force companies to disclose their greenhouse emissions and other climate-related information to aid investment decisions — a first for the US and the

By Paul R. La Monica, CNN Business US-listed Russian stocks have been in freefall following the invasion of Ukraine — but it’s not the only nation whose stocks are getting whipsawed. Shares of major Chinese firms have been up and down in 2022. There’s plenty weighing on sentiment: worries about leading Chinese companies possibly getting

By Matt Egan, CNN Business Just a few months ago, optimism among American CEOs hit record highs. But given stubbornly high inflation, Russia’s invasion of Ukraine and a Covid wave in Europe, that sunny outlook has dimmed. The Business Roundtable said Monday that its CEO Economic Outlook Survey dipped to a reading of 115 during

By Chris Isidore, CNN Business A Boeing 737 carrying 132 people crashed early Monday in China. Although Boeing’s 737 has faced extraordinarily high-profile safety concerns over the past three years, the plane that crashed Monday was a different version of the aircraft than the embattled 737 Max that shook Boeing to its core. The cause

By Matt Egan, CNN Business Ukrainian President Volodymyr Zelensky is calling out Nestlé for the Swiss company’s continued relationship with Russia. “‘Good food. Good life.’ This is the slogan of Nestlé. Your company that refuses to leave Russia,” Zelensky said Saturday during an address to the people of Switzerland. “Even now — when there are

By Paul R. La Monica, CNN Business It may not be the “elephant-sized” deal that Warren Buffett has long promised, but Berkshire Hathaway is making its biggest acquisition in years: it’s buying insurer Alleghany for $11.6 billion in cash. Buffett, the “Oracle of Omaha,” has been saying for years that he wants to make a

By Jordan Valinsky, CNN Business Taco Bell turns 60 this summer and its employees will have new outfits to mark the occasion. Employees will be given a new T-shirt that’s designed by Los Angeles-based streetwear creator Born X Raised that celebrates the chain’s Southern Californian heritage. The shirt, meant to “commemorate this milestone in the

By Mark Thompson and James Frater, CNN Business Europe will consider joining a US-led embargo of Russian oil this week as the West looks for new ways to punish President Vladimir Putin for waging his devastating war in Ukraine. EU leaders will discuss whether to dump by far the biggest supplier of oil to the

By Matt Egan, CNN Business The White House considered sending gas cards to families to cushion the blow from record-high gas prices before eventually deciding it is not feasible. A White House spokesperson told CNN that gas cards are not seriously under consideration, confirming a report in Axios. The Biden administration is worried that gas