CNN - Business/Consumer Archives - Page 719 of 911

Pedestrians walk past a Sakura Bitcoin Exchange Inc. store in the Shibuya district of Tokyo on Friday

Bitcoin jumps back above $40,000 as Russians switch to crypto

February 26, 2022 9:57 AM CNN

By Michelle Toh, CNN Business Cryptocurrency prices are climbing after Russia’s ruble sank to another record low and Moscow was hit with new sanctions. As of 5:25 a.m. ET on Tuesday, bitcoin had jumped 13% over the last 24 hours to $43,163, according to cryptocurrency tracker CoinDesk. Other cryptocurrencies moved higher, too. Ethereum climbed 10%

Berkshire Hathaway Chairman and CEO Warren Buffett smiles during an interview in Omaha

Warren Buffett’s Berkshire Hathaway posts nearly $40 billion profit

February 26, 2022 9:06 AM CNN Newsource

By Paul R. La Monica, CNN Business Warren Buffett’s Berkshire Hathaway reported a nearly $40 billion profit in the fourth quarter, up more than 10% from the same period of 2020. Profits more than doubled for the full year, to just shy of $90 billion. Operating earnings, Buffett’s preferred measure of profitability, soared 45% in

The surprising reason why Wendy’s burgers are square

February 26, 2022 6:34 AM CNN Newsource

By Jordan Valinsky, CNN Business It doesn’t matter where you go: Fast-food hamburgers almost uniformly look like the same round, flat patties. Except for Wendy’s, which has square burgers. The reason for the outlier four-sided shape can be traced back to Wendy’s founder Dave Thomas. In 1969, he opened the first Wendy’s in Columbus, Ohio,

What inflation? Cannabis actually costs less these days

February 26, 2022 4:30 AM CNN Newsource

By Alicia Wallace, CNN Business The grocery run, the fuel-up and the utility bill are all costing more these days — not to mention the surging home prices and rising rents. But a trip to the neighborhood dispensary might not elicit similar feelings of sticker shock. While Americans have seen prices climb across most of

The office of the Kyiv Post newspaper is seen in Kyiv

‘We want to get the news out’: How Ukraine’s journalists are covering the invasion of their country

February 25, 2022 9:46 PM CNN Newsource

By Oliver Darcy, CNN Business The state of affairs in the Ukrainian capital of Kyiv keeps changing at a breakneck pace. Within days, residents have gone from not believing Russia would attack their country to taking cover in bomb shelters and praying for help. Some have left the city, while others have picked up automatic

‘We want to get the news out’: How Ukraine’s journalists are covering the invasion of their country

February 25, 2022 9:46 PM CNN

By Oliver Darcy, CNN Business The state of affairs in the Ukrainian capital of Kyiv keeps changing at a breakneck pace. Within days, residents have gone from not believing Russia would attack their country to taking cover in bomb shelters and praying for help. Some have left the city, while others have picked up automatic

Union organizers win another Starbucks vote

February 25, 2022 6:07 PM CNN Newsource

By Chris Isidore, CNN Business Union organizers overwhelmingly won a vote Friday to represent workers at a Starbucks in Mesa, Arizona, giving them their third win in an effort to organize the sector. The vote was 25 in favor of the union and only 3 opposed. There were a total of 43 workers eligible to

Elon Musk and brother reportedly face insider trading probe

February 25, 2022 10:46 AM CNN Newsource

By Chris Isidore, CNN Business Tesla CEO Elon Musk and his brother are under investigation by the Securities and Exchange Commission for possibly violating insider trading rules, according to media reports. The Wall Street Journal, citing unnamed people familiar with the probe, said the investor watchdog agency is looking into sales of Tesla shares by

Foot Locker’s stock tumbles 35% because Nike wants to go on its own

February 25, 2022 10:20 AM CNN Newsource

By Jordan Valinsky, CNN Business Foot Locker’s stock tumbled 35% Friday after the shoe store predicted sales and profit would fall sharply this year. The culprit: Nike. The retailer, which didn’t explicitly mention Nike in its earnings report, said Friday that no single supplier is expected to account for more than about 60% of its

Even as home prices have skyrocketed during the pandemic

The Black homeownership rate is now lower than it was a decade ago

February 25, 2022 9:45 AM CNN Newsource

By Anna Bahney, CNN Business Even as home prices have skyrocketed during the pandemic, homeownership continues to grow. But the rate of home buying has not increased at the same pace for all Americans, according to a new report from the National Association of Realtors. More Americans own a home now than in any year

Orders wait to be taken to patrons at Scoreboard Bar and Grill on Monday

The labor shortage could lead to a recession next year

February 25, 2022 8:12 AM CNN Newsource

Opinion by Gad Levanon for CNN Business Perspectives Over the past 12 months, US consumer prices rose by 7.5%, the highest rate in nearly 40 years. Worse, inflation is showing no signs of slowing. The Federal Reserve typically fights inflation by raising interest rates, which slows the economy by reducing the demand for goods and

A shopper walks through a grocery store in Washington

This key measure of inflation climbed at the fastest pace since 1982 last month

February 25, 2022 8:10 AM CNN

By Anneken Tappe, CNN Business Yet another key measure of inflation ticked higher at the start of the year, rising at its fastest pace in nearly 40 years. The price index tracking consumer spending increased by 6.1% between January 2021 and January 2022, according to new data from the Commerce Department released Friday. That was

This key measure of inflation climbed at the fastest pace since 1982 last month

February 25, 2022 8:10 AM CNN Newsource

By Anneken Tappe, CNN Business Yet another key measure of inflation ticked higher at the start of the year, rising at its fastest pace in nearly 40 years. The price index tracking consumer spending increased by 6.1% between January 2021 and January 2022, according to new data from the Commerce Department released Friday. That was

Storage silos and shipping cranes at the Port of Odessa in Odessa

Oil traders are shunning Russian crude. Here’s why

February 25, 2022 7:46 AM CNN Newsource

By Julia Horowitz, CNN Business The West has not gone after Russian oil. But nervous traders have decided they still don’t want to touch it, jolting the global energy market at a delicate moment. The main grade of oil that Russia exports into Europe is now being offered for sale at a hefty discount, signaling

Burger King's largest franchisee in the United States said that it will soon reduce the number of nuggets in meals from ten pieces to 8.

Burger King’s largest franchise cuts chicken nugget count as prices surge

February 25, 2022 7:42 AM CNN Newsource

By Jordan Valinsky, CNN Business Chicken nuggets have fallen victim to rising prices. Burger King’s largest franchisee in the United States said Thursday that it will soon reduce the number of nuggets in meals from ten pieces to 8. Carrols Restaurant Group, which operates 14% of Burger Kings’ roughly 7,000 US locations, told investors Thursday

Two of the world's biggest container shipping companies are halting cargo bookings to and from Russia.

Another squeeze on Russia: Three shipping companies won’t sail there

February 25, 2022 7:18 AM CNN

By Chris Liakos, CNN Business Two of the world’s biggest container shipping companies are halting cargo bookings to and from Russia. “As the stability and safety of our operations is already being directly and indirectly impacted by sanctions, new Maersk bookings to and from Russia will be temporarily suspended, with exception of foodstuffs, medical and

Production of fermented milk products at the Danone dairy production plant in the town of Chekhov.

These companies have the most to lose from Russia’s attack on Ukraine

February 25, 2022 6:50 AM CNN Newsource

By Jordan Valinsky, CNN Business International companies that hold a major presence in Russia are bracing for more sanctions from Western countries. Russia has already paid a price for its aggression: the country’s stock markets and currency have tanked this week after President Vladimir Putin ordered troops into Ukraine. Sanctions from the United States and

These companies have the most to lose from Russia’s attack on Ukraine

February 25, 2022 6:50 AM CNN

By Jordan Valinsky, CNN Business International companies that hold a major presence in Russia are bracing for more sanctions from Western countries. Russia has already paid a price for its aggression: the country’s stock markets and currency have tanked this week after President Vladimir Putin ordered troops into Ukraine. Sanctions from the United States and

Russia and Ukraine together account for about a third of global wheat supply.

China lifts restrictions on Russian wheat imports

February 25, 2022 6:29 AM CNN Newsource

By Laura He, CNN Business China has relaxed restrictions on imports of Russian wheat, a move that could address food security concerns in the world’s second largest economy and ease the impact of Western sanctions on Russia. The decision to allow imports of wheat from all regions of Russia was made during Russian President Vladimir

The well service crew on a workover rig uses power tongs to reconnect the sections of tubing on an oil well. Russia's invasion of Ukraine has sent oil futures above $100 a barrel for the first time since 2014 and will probably bring $4-a-gallon gasoline to much of the United States.

$100 oil won’t derail the US economy

February 25, 2022 6:05 AM CNN Newsource

By Chris Isidore, CNN Business Russia’s invasion of Ukraine has sent oil futures above $100 a barrel for the first time since 2014 and will probably bring $4-a-gallon gasoline to much of the United States. But it won’t be a major drag on US economic growth. Economists project that at most the nation’s gross domestic

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