By Laura He, CNN Business Global stocks plunged after President Vladimir Putin launched a military attack on Ukraine, drawing condemnation from the West and making punishing sanctions all but certain. European stocks tumbled in the opening minutes of trading on Thursday. The FTSE 100 fell 2.5% in London, while France’s CAC 40 dropped 4% and
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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 Laura He, CNN Business Asian markets and US stock futures plunged on Thursday as Russian President Vladimir Putin announced a military operation in the Donbas region of Ukraine. Hong Kong’s Hang Seng Index declined 3.2%. Korea’s Kospi dropped 2.7%. Japan’s Nikkei 225 lost 2.4% after coming back from a holiday. China’s Shanghai Composite moved
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By Matt Egan and Charles Riley, CNN Business Oil prices surged above $100 per barrel after Russia launched an invasion of Ukraine, piling pressure on a global economy already reeling from rampant inflation. Brent crude, the global benchmark, added 8.5% to trade at $105.40 per barrel by 5:30 a.m. ET on Thursday. Brent last traded
Continue Reading By Matt Egan and Charles Riley, CNN Business Oil prices surged above $100 per barrel after Russia launched an invasion of Ukraine, piling pressure on a global economy already reeling from rampant inflation. Brent crude, the global benchmark, added 8.5% to trade at $105.40 per barrel by 5:30 a.m. ET on Thursday. Brent last traded
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By Anna Cooban, CNN Business Air France and Lufthansa are the latest airlines to suspend flights into Ukraine as fears of a Russian invasion grow. The French carrier said that it would cancel flights to and from the capital Kyiv on Tuesday as a “precautionary measure,” citing the security situation. “Air France will regularly reassess
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By Paul R. La Monica, CNN Business Wall Street’s attempt for a Wednesday rally failed, with stocks closing broadly lower on continued worries about the likelihood of an imminent invasion of Ukraine by Russia. The Dow closed down more than 464 points, or 1.4%, after opening the session higher. It was a broad-based slide, with
Continue Reading By Paul R. La Monica, CNN Business Wall Street’s attempt for a Wednesday rally failed, with stocks closing broadly lower on continued worries about the likelihood of an imminent invasion of Ukraine by Russia. The Dow closed down more than 464 points, or 1.4%, after opening the session higher. It was a broad-based slide, with
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By Paul R. La Monica, CNN Business The Federal Reserve is going to raise interest rates at its next meeting on March 16 to try to put a lid on inflation. That much we know. The only question is whether the Fed will boost rates by a quarter of a percentage point or a half-point.
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By Jordan Valinsky, CNN Business Pepsi is putting a whole new meaning into the soft drink. In what the company describes its “most ambitious feat yet,” PepsiCo announced Wednesday a first-of-its-kind nitrogen-infused cola that has a creamier and smoother taste compared to traditional carbonated sodas. The beverage, called Nitro Pepsi, is being released in the
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By Parija Kavilanz, CNN Business The wait has ended. Yeezy Gap revealed the first look at its highly anticipated collaboration with fashion powerhouse brand Balenciaga. The 25-piece collection includes a denim jacket paired with jeans, logo tees and hoodies, with some of the items featuring a dove motif representing “hope.” Eight of the items went
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By Matt Egan and Brian Fung, CNN Business The controversial Trump SPAC surged near record highs on Tuesday after former President Donald Trump’s social media app debuted atop Apple’s App Store — even as the launch was marked with a flurry of one-star ratings, technical-support complaints and a massive waiting list. Digital World Acquisition Corporation,
Continue Reading By Matt Egan and Brian Fung, CNN Business The controversial Trump SPAC surged near record highs on Tuesday after former President Donald Trump’s social media app debuted atop Apple’s App Store — even as the launch was marked with a flurry of one-star ratings, technical-support complaints and a massive waiting list. Digital World Acquisition Corporation,
Continue Reading By Jordan Valinsky, CNN Business Pepsi is putting a whole new meaning into the soft drink. In what the company describes its “most ambitious feat yet,” PepsiCo announced Wednesday a first-of-its-kind nitrogen-infused cola that has a creamier and smoother taste compared to traditional carbonated sodas. The beverage, called Nitro Pepsi, is being released in the
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By Jordan Valinsky, CNN Business Delivery is a shopper’s dream — but it’s an expensive hassle for businesses, even for mega-corporations like Target. So stores are trying to entice shoppers to split the baby: Come to the store and someone will deliver the items … to your car. To persuade customers to do that, Target
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By Matt McFarland, CNN Business Bob Galyen has spent his career building electric car batteries. And he thinks the United States has a problem. Galyen, who engineered the battery for the General Motors EV1, the first mass-produced electric vehicle, and also served as chief technology officer at a Chinese company that’s the top battery producer
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By Julia Horowitz, CNN Business Home prices in the United States increased at the fastest rate on record in 2021. That’s drawn in a flood of investors looking to cash in on the boom. What’s happening: Investors bought 18.4% of homes sold across the country during the last three months of the year, according to
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By Danielle Wiener-Bronner, CNN Business Restaurants have a delivery problem. Early in the pandemic, when eateries were forced to shut their doors, delivery became a lifeline. Restaurant operators scrambled to set up delivery channels from scratch or promote ones that previously existed. But there was a reason that many restaurants hadn’t focused on delivery before
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By Charles Riley, CNN Business Barclays is withholding shares worth as much as $29 million from former CEO Jes Staley, pending the outcome of an investigation by British banking regulators into his relationship with Jeffrey Epstein. The bank said in its annual report published on Wednesday that it has suspended bonus and share payments to
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By Matt Egan, CNN Business The decision by Germany to halt the certification of Nord Stream 2 underscores the critical role US natural gas can play on the world stage, former top energy regulator Neil Chatterjee told CNN on Tuesday. “We are a gas superpower. We just need to be able to get it out
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