CNN – Business/Consumer

By Matt Egan, CNN Business Red-hot inflation in the United States may not cool off this year as much as many hoped, Goldman Sachs cautioned in a new report. “The inflation picture has worsened this winter as we expected, and how much it will improve later this year is now in question,” Goldman Sachs economists

By Julia Horowitz, CNN Business In less than a week, Russian assets have become practically untouchable for Western investors, who see no reason to expose themselves to a pariah economy that could be crushed by sanctions. Financial transactions also look increasingly difficult to execute and risk running afoul of regulators. “It’s very difficult to see

By Charles Riley, CNN Business Russian billionaires Mikhail Fridman and Oleg Deripaska have broken ranks with the Kremlin and called for an end to Russia’s war in Ukraine. Fridman, who was born in western Ukraine, wrote in a letter to staff that he wanted the “bloodshed to end.” “My parents are Ukrainian citizens and live

By Charles Riley, CNN Business The West has pledged to remove some Russian banks from SWIFT, a messaging service that connects financial institutions around the world, as part of a barrage of sanctions designed to limit Moscow’s ability to pay for its war in Ukraine. The United States, the European Union, the United Kingdom and

By Ramishah Maruf, CNN Business BP is cutting ties with Rosneft in response to Russia’s invasion of Ukraine. The British company said in a statement Sunday that it would exit its 19.75% stake in the Russian state oil giant, describing Moscow’s decision to attack its neighbor as “an act of aggression which is having tragic

By Ramishah Maruf, CNN A federal grand jury in San Diego indicted the founder of BitConnect for allegedly orchestrating a $2.4 billion global Ponzi scheme, the Justice Department said Friday. Satish Kumbhani, 36, is accused of misleading investors about the cryptocurrency’s “lending program,” where he claimed the proprietary technology would bring substantive returns to investors

By Emma Tucker, Melissa Alonso and Jackie Wattles, CNN A shipment of Starlink user terminals — small antennas that allow customers to access SpaceX’s satellite-based internet service — arrived in Ukraine Monday, providing a back stop for Ukrainians who may see their traditional service interrupted amid the Russian invasion. SpaceX founder and CEO Elon Musk

By Parija Kavilanz, CNN Business As Covid restrictions ease, expect to see more malls morph into family entertainment destinations where shopping may not even be what draws shoppers in. Retail analysts say it’s become necessary for mall operators to diversify the in-mall experience beyond shopping in order to stay relevant to consumers — especially as

By Chris Isidore, CNN Business Russia isn’t a superpower, at least not when it comes to the global economy. Its gross domestic product puts it as only the 12th largest economy in the world according to the International Monetary Fund, about 25% smaller than Italy and more than 20% smaller than Canada, two countries with

By Brian Stelter, CNN Business Chris Licht, the producer who created “Morning Joe,” revamped “CBS This Morning” and revitalized “The Late Show with Stephen Colbert,” has been selected to run CNN once Discovery merges with WarnerMedia this spring, according to three sources with knowledge of the plan. The parties involved have not yet commented on

By Jon Sarlin, CNN Business Bitcoin is a pollution-creating mess. Despite efforts to make the energy-intensive mining process friendlier to the environment, it has grown significantly more reliant on fossil fuels over the past year. China’s cryptocurrency mining ban in the spring of 2021 significantly worsened Bitcoin’s environmental impact, according to a new research on