Money

By Julia Horowitz, CNN Business OPEC and its allies decided Sunday to stick with their existing policy of curtailing oil output, just hours before new Western sanctions on Russian crude exports come into force. The Organization of the Petroleum Exporting Countries, and other major oil producers including Russia, said they would continue to restrict supply

By Megan Thomas, CNN The runoff for Georgia’s remaining US Senate seat took the spotlight during the latest episode of “Saturday Night Live.” The show started with Republican senators meeting with Kenan Thompson as Herschel Walker to talk about Tuesday’s election. “Herschel, the midterms weren’t the red wave we were hoping for, but we think

By Jordan Valinsky, CNN Business It might be 2022, but people are still ordering espresso martinis like it’s the 90s. The coffee-flavored drink has experienced such a resurgence that it has entered the top 10 list of most ordered cocktails at US bars this year, according to research firm CGA by Nielsen IQ. The espresso

By Christine Romans, CNN Chief Business Correspondent Each week brings head-scratching contradictory news about the economy. This past week was no different, with a batch of economic reports showing that — despite the recession talk — the US economy shows remarkable resilience. Yes, the economy is strong. But it comes with a lot of caveats.

By Anna Cooban and Xiaofei Xu, CNN Efforts to resolve a simmering dispute between Europe and the United States over electric vehicle subsidies stemming from President Joe Biden’s Inflation Reduction Act suffered a blow Friday when a top EU official pulled out of talks scheduled for Monday. Thierry Breton, the official responsible for the EU’s

By Samantha Beech, CNN Right-wing conspiracy theorist Alex Jones filed for personal Chapter 11 bankruptcy protection in a Texas court on Friday, according to court documents. In the documents, Jones estimates his assets to be worth between $1 to 10 million, and his liabilities to be between $1 to $10 billion. The Infowars host’s primary

By Chris Isidore, CNN Business Most labor disputes never end up being debated in Congress. But thanks to a nearly century-old law that regulates labor relations only when it comes to railroads and airlines, what otherwise would be strictly an economic issue became a political one. The Railway Labor Act was passed in 1926 as

By Alicia Wallace, CNN Business The US economy added 263,000 jobs in November, defying aggressive action from the Federal Reserve to cool the economy and bring down decades-high inflation. The unemployment rate held steady at 3.7%, according to the Labor Department, which released the latest monthly jobs snapshot on Friday morning. Economists surveyed by Refinitiv

By Juliana Liu and Diksha Madhok, CNN Business The crypto industry just can’t catch a break this year. Binance, the world’s biggest cryptocurrency exchange, is investigating a hacking incident that affected a number of crypto tokens Friday. According to its founder and CEO Changpeng Zhao, a private key, used to encrypt or decrypt data, had

By Laura He, CNN Business Protests this week across China show just how unpopular Beijing’s zero-Covid policy has become. Now, even as the country signals it may loosen pandemic controls, it faces another challenge: Local governments charged with conducting mass testing and enforcing quarantine are running short of cash and could be forced to cut