By Charles Riley, CNN Business Jerome Powell is trying to hike interest rates without damaging the economy. Getting it wrong means recession, and he knows it. The chairman of the Federal Reserve said Monday that the central bank is prepared to repeatedly hike interest rates — and by 0.5 percentage points if necessary— in order
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By Chris Isidore and Chris Liakos, CNN Business Russia is seizing hundreds of commercial jets owned by US and European leasing companies, a further sign of the challenges the country’s airline industry faces due to sanctions following its invasion of Ukraine. President Vladimir Putin signed a law Monday as part of the government’s anti-sanction measures
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By Frank Pallotta, CNN Business Netflix knows you share your password. And soon you might have to start paying for the privilege. Over the last year, Netflix been working on ways to “enable members who share outside their household to do so easily and securely, while also paying a bit more,” the company said in
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By David Goldman, CNN Business Russia says it has ordered the $117 million in interest payments it owes Wednesday to be sent to investors, attempting to avoid its first international default in more than a century. But it’s not out of the woods yet. That’s because the funds the country used to make the debt
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By Charles Riley, CNN Business The Russian state television journalist who took a dramatic stand against President Vladimir Putin’s war in Ukraine during a live broadcast says it was “impossible to stay silent” and that she wants the world to know that many Russians are against the invasion. Marina Ovsyannikova told CNN’s Christiane Amanpour on
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By Matt McFarland, CNN Business Tesla’s most affordable car is only getting more expensive, while other electric vehicles sold as long as it have dropped in price. Tesla’s cheapest Model 3 now sells for $46,990 following a price hike this month, making the entry-level Model 3 34% more expensive than it was three years ago.
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By Anneken Tappe, CNN Business Hindsight is 20:20, even for the Federal Reserve. The US central bank is in the midst of a “whatever it takes” moment when it comes to inflation, but if Fed officials had known how high inflation would rise, they would have changed their course on policy earlier, Fed Chairman Jerome
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By Anneken Tappe, CNN Business The Federal Reserve is raising interest rates for the first time since 2018, the central bank announced Wednesday at the conclusion of its highly anticipated two-day monetary policy meeting. The move marks the end of the Fed’s pandemic-era easy money policy and comes amid soaring inflation across America. The federal
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By Frank Pallotta, CNN Business Two of the most recognizable voices in the NFL are switching networks. Joe Buck and Troy Aikman are leaving their long-time home at Fox to head to ESPN’s “Monday Night Football,” the network announced Wednesday. The broadcasting duo, who have called over 300 games together, will step into the “Monday
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By David Goldman, CNN Business After a number of US states passed laws severely restricting access to abortions, Citigroup this week said it is providing employees with travel benefits to facilitate access to abortion clinics. “In response to changes in reproductive healthcare laws in certain states in the U.S., beginning in 2022 we provide travel
Continue Reading By Charles Riley, CNN Business The Russian state television journalist who took a dramatic stand against President Vladimir Putin’s war in Ukraine during a live broadcast says it was “impossible to stay silent” and that she wants the world to know that many Russians are against the invasion. Marina Ovsyannikova told CNN’s Christiane Amanpour on
Continue Reading By Charles Riley, CNN Business The Russian state television journalist who took a dramatic stand against President Vladimir Putin’s war in Ukraine during a live broadcast says it was “impossible to stay silent” and that she wants the world to know that many Russians are against the invasion. Marina Ovsyannikova told CNN’s Christiane Amanpour on
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By Frank Pallotta, CNN Business Last week, Disney and its CEO Bob Chapek bungled their response to Florida’s controversial bill dubbed “Don’t Say Gay.” Now, some of the company’s employees are staging a walkout. A Twitter account, “@DisneyWalkout,” and an associated website, “WhereIsChapek.com,” have organized a series of 15-minute daily walkouts, encouraging employees to protest
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By Frank Pallotta, CNN Business Disney employees staged a walkout Tuesday in protest of the company’s response to Florida’s controversial Parental Rights in Education law, which critics have dubbed the “Don’t Say Gay” bill. While many employees at Disney headquarters in Burbank, California, did protest, it did not appear to be a massive showing across
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By Paul R. La Monica, CNN Business It’s been a year full of worries for investors, from geopolitical conflict to inflation to the pandemic, and it doesn’t look like the concerns will ease anytime soon. The combination of these major macroeconomic and geopolitical issues will make it difficult for stocks to climb out of their
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By Nathaniel Meyersohn, CNN Business Could the biggest department store marriage in years be in the works? Hudson’s Bay Co., the Canadian department store and owner of Saks Fifth Avenue, is considering making a bid for Kohl’s, Axios reported Wednesday, citing sources. The report drove Kohl’s stock up around 15% during mid-day trading Wednesday. A
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By Kathryn Vasel The pandemic thrust the working world into a new reality in March 2020 as offices closed and millions of people were forced to learn how to do their jobs from home. Two years later, employers and workers are still adapting to a new normal and trying to figure out what the future
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By Jordan Valinsky, CNN Business Walmart is planning to hire more than 50,000 workers in the United States this spring. America’s largest retailer said in a statement Wednesday that the jobs will be filled in its stores, clubs, campuses and supply chain facilities. The company plans on hiring the new workers by the end of
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By Matt Egan, CNN Business The Covid era of free money has come to an end. After dropping interest rates to zero in March 2020 to revive the economy, the Federal Reserve has just shifted gears to go into inflation-fighting mode. Fed officials said Wednesday they are raising interest rates, beginning their first cycle of
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