Money

By Matt Egan Recession fears are slamming the oil market, with crude tumbling on Friday below $80 a barrel for the first time since January. The good news is the selloff should drive prices at the gas pump down, easing crushing inflation that has been harming consumers. The bad news is the sharp drop in

By Frank Pallotta, CNN Business Slugger Aaron Judge is chasing baseball history. So where can you watch it? The New York Yankees outfielder is on the brink of hitting the most home runs in American League history as he sits on 60 for the season. The current record is 61, which was set in 1961

By David Goldman, CNN Business US stocks fell sharply in Friday trading as investors continued to worry about even more rate hikes from the Federal Reserve that could land the US economy in a recession. The Dow closed 483 points, or 1.6%, lower in Friday trading, marking its lowest level since November 2020. The S&P

By Alicia Wallace, CNN Business In its efforts to bring down historic inflation and cool the economy, the Federal Reserve has used multiple euphemisms to describe the potential impact on Americans’ jobs, from economic “pain” to “unfortunate costs” and a “softening labor market.” Data, however, doesn’t mince words. The Fed’s latest economic projections, released Wednesday

By Julia Horowitz, CNN Business It should be the perfect time to own gold. The yellow metal has historically rallied when inflation is high, since it’s a physical investment that can serve as a store of value. It’s also usually a firm favorite during periods of geopolitical uncertainty, when it’s seen as a safe haven.

By Casey Tolan, CNN Marco Rubio hopes to sway voters interested in Chick-fil-A, Ram trucks, and Duck Dynasty. John Fetterman is searching for fans of microbreweries, Teslas, and the Dave Matthews Band. And Michael Bennet wants to reach people who like Taylor Swift and Lizzo — while avoiding devoted listeners of Jason Aldean. Candidates in

By Anna Cooban, CNN Business A huge gamble by the UK government aimed at rescuing the economy from recession and boosting long-term growth sent the pound plunging on Friday. Announcing the biggest tax cuts in 50 years at the same time as boosting spending, Finance Minister Kwasi Kwarteng said the government needed a “new approach

By Michelle Toh, CNN Business Leaders of America’s biggest banks say they would follow any US directive on pulling business from China if Taiwan is ever attacked by Beijing. JPMorgan CEO Jamie Dimon, Citi CEO Jane Fraser, and Bank of America CEO Brian Moynihan were all pressed on the subject Wednesday by US Congressman Blaine

By David Goldman, CNN Business Boeing and its former CEO Dennis Muilenburg agreed to pay hefty fines to settle charges from the Securities and Exchange Commission that they misled the public about the safety of the 737 Max following two fatal crashes in 2018 and 2019. The SEC alleges that, following an October 2018 crash

By Nathaniel Meyersohn and Chris Isidore, CNN Business FedEx will raise ground and express shipping rates by an average of 6.9% next year, the company said Thursday. Freight rates will increase by an average of 6.9% to 7.9%. Both mark an increase from FedEx’s rate hikes for this year. Last week, FedEx warned that a

By Chris Isidore, CNN Business There’s a lot of buyer interest in the electric Hummer now being offered by Chevrolet. But there’s limited capacity to build them, and now General Motors has stopped taking orders for the massive EV. Between January and June, GM reported it delivered fewer than 400 of the pickup version of