By Mark Thompson, CNN Business British Airways has suspended its flights to Moscow after Russia banned all UK carriers from its airspace. Russia’s Federal Agency for Air Transport said in a statement Friday that it was banning UK registered flights, as well as aircraft owned, leased or operated by a person associated with the United
Continue Reading
By Charles Riley, CNN Business The West has announced a barrage of tough new sanctions aimed at cutting off Russia’s banks from the global financial system and depriving the country of vital technology. Yet a punishing financial weapon is being kept in reserve. The United States and the European Union held back from cutting Russia
Continue Reading By Charles Riley, CNN Business The West has announced a barrage of tough new sanctions aimed at cutting off Russia’s banks from the global financial system and depriving the country of vital technology. Yet a punishing financial weapon is being kept in reserve. The United States and the European Union held back from cutting Russia
Continue Reading
By Michelle Toh, Junko Ogura, Hira Humayun, Isaac Yee, Eric Cheung, Sam Fossum and Ramishah Maruf, CNN Countries around the world are imposing fresh sanctions against Russia over its invasion of Ukraine. The United States, the European Union, the United Kingdom and Canada banned certain Russian banks from SWIFT on Saturday, the high security network
Continue Reading
By Brian Stelter and Clare Duffy, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. From a media perspective, what distinguishes Russia’s invasion of Ukraine is the sheer amount of information. The staggering amount of data. Some of it is reliable, some
Continue Reading
By Matt Egan, CNN American Petroleum Institute CEO Mike Sommers insisted on Thursday that US oil companies would not seek to capitalize on Russia’s invasion of Ukraine. “Our companies would never take advantage of this kind of situation,” Sommers, who leads the most powerful US energy trade group, told CNN in a phone interview. Earlier
Continue Reading
By Peter Valdes-Dapena, CNN Business The National Highway Traffic Safety Administration is investigating popular Honda Accord sedans and CR-V SUVs for a possible glitch that, according to numerous driver complaints, sometimes causes the cars to randomly slam on the brakes without the driver touching the brake pedal. The vehicles are equipped with Automatic Emergency Braking
Continue Reading
By Allison Morrow, CNN Business The West’s initial salvo of financial sanctions against Russia failed to deter President Vladimir Putin from launching a full-scale invasion of Ukraine. Now the United States is taking a punitive approach, announcing another round of sanctions meant to tighten the screws on Russian banks and “corrupt billionaires.” But some experts
Continue Reading
By Parija Kavilanz, CNN Business It’s a nightmare no parent ever wants to endure. Families all over the country are in a race against the clock to find a critical source of food they desperately need to keep their children fed — baby formula. For months, stores nationwide have struggled to stock enough baby formula.
Continue Reading
By Chris Isidore, CNN Business Gas prices were rising rapidly even before Russia’s invasion of Ukraine, but with the current shock to the oil market, $4 a gallon gas is now likely to be widespread across the country in a matter of weeks — if not sooner. The average price of a gallon of regular
Continue Reading
By Oliver Darcy, CNN Business The bombs in the Ukrainian capital went off as CNN was broadcasting live on-air. “There are big explosions taking place in Kyiv right now,” Matthew Chance, a senior international correspondent for the network, said as he broadcast from a rooftop shortly after Russian President Vladimir Putin announced the Russian invasion
Continue Reading By Oliver Darcy, CNN Business The bombs in the Ukrainian capital went off as CNN was broadcasting live on-air. “There are big explosions taking place in Kyiv right now,” Matthew Chance, a senior international correspondent for the network, said as he broadcast from a rooftop shortly after Russian President Vladimir Putin announced the Russian invasion
Continue Reading
By Anna Bahney After weeks of increases that pushed mortgage rates close to 4%, the climb took a break last week. The 30-year fixed-rate mortgage averaged 3.89% in the week ending February 24, down slightly from 3.92% the week before, according to Freddie Mac. Even with this decline, mortgage rates have increased by more than
Continue Reading
By Julia Horowitz, CNN Business Russian President Vladimir Putin’s decision to invade Ukraine could drive prices even higher at a moment when inflation is already rising at the fastest clip in decades. Economists are racing to assess the impact of the attack, which could spark the biggest war in Europe since 1945. The conflict is
Continue Reading
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
Continue Reading
By Mark Thompson, CNN Business The West is promising “massive” sanctions on Moscow in response to Russia’s invasion of Ukraine. French President Emmanuel Macron said Thursday that European sanctions would target Russia’s military, economy and energy, and Germany’s decision this week to halt certification of the Nord Stream 2 pipeline built by Russia’s Gazprom shows
Continue Reading
By Anneken Tappe, CNN Business America’s jobs recovery didn’t lose steam in the new year with a key measure of jobless claims dropping to its lowest level since March 1970, the Labor Department reported Thursday. Continuing claims for unemployment benefits, which count people who have filed for jobless aid for at least two weeks in
Continue Reading
By Laura He, CNN Business Global stocks plunged after President Vladimir Putin launched an invasion of Ukraine, drawing condemnation from the West and making punishing sanctions all but certain. European stocks tumbled on Thursday. The FTSE 100 fell 3.9% in London, while France’s CAC 40 dropped 3.8% and Germany’s DAX 30 shed 4%. Russian stocks
Continue Reading
By Anneken Tappe, CNN Business The economic recovery was stronger than initially thought in the fourth quarter of last year, new data from the Commerce Department showed Thursday. But for many Americans it didn’t feel that way. US gross domestic product — the broadest measure of economic activity — grew at an annualized pace of
Continue Reading
By Julia Horowitz, CNN Business Russian President Vladimir Putin’s decision to invade Ukraine, which could spark the biggest war in Europe since 1945, has immediately stoked alarm among investors, who had been hoping such an outcome would be avoided. What’s happening: News early Thursday that Russian forces had begun an attack on Ukraine, with reports
Continue Reading