Money

By Laura He, CNN Business Stocks are tumbling on Monday as oil prices soared above $120 barrel to their highest level in 13 years, raising fears about an inflationary shock to the global economy. European markets plunged in early trade. Germany’s DAX 30 and France’s CAC 40 both fell by more than 3%. London’s FTSE

By Ramishah Maruf, CNN Business American Express is the latest credit card company to announce it is ending its operations in Russia as its invasion into Ukraine escalates. On Sunday, the company said in a statement that globally issued American Express cards will no longer work in Russia, and cards issued in Russia won’t work

By Ramishah Maruf, CNN Social media videos have played a critical role in CNN’s coverage of Russia’s invasion in Ukraine. But how does the network know they are accurate? Here’s one example: CNN’s investigative team came across alarming footage in late February: Russian helicopters flying menacingly low over dark plumes of rising smoke just a

By Julia Horowitz, CNN Business The US dollar serves as the backbone of the global economy and is considered the safest currency to hold. So in times of uncertainty, investors like to stock up. What’s happening: The dollar rose to its highest level since spring 2020 last week as fears grew about how Russia’s war

By Frank Pallotta, CNN Business “Saturday Night Live” kicked off this week’s episode with a Fox News “Ukrainian Invasion Celebration Spectacular,” hosted by Laura Ingraham, who was played by Kate McKinnon, and Tucker Carlson, who was played by Alex Moffat. “Good evening, everyone. I’m Tucker Carlson. I’m like if a pair of boat shoes came

By Ramishah Maruf, CNN The International Monetary Fund said it would bring Ukraine’s request for $1.4 billion in emergency financing to its executive board as early as next week, the IMF said Saturday. And it said countries with close economic ties to Russia are also at risk for shortages and supply disruptions. It is in

By Alicia Wallace, CNN Business In May 2020, the Bureau of Labor Statistics delivered the worst US jobs report on record: 20.5 million jobs had been lost in the previous month and the national unemployment rate had hit 14.7%. More data followed showing how Black and Hispanic Americans (with jobless rates of 16.7% and 18.9%,

By Parija Kavilanz, CNN Business The price of premium perfumes recently soared by levels typically never seen for luxury fragrances. But don’t blame rising inflation — the reasons have more to do with consumer behavior in times of stress and uncertainty. The average retail price for fragrances rose by 15% in 2021 compared to 2020,

By Laura He, CNN Business China has set its lowest official target for economic growth in three decades. Speaking during one of China’s most important political gatherings of the year, Premier Li Keqiang said that China would target GDP growth of about 5.5% this year. The world’s second biggest economy grew 8.1% in 2021, but