By Chris Isidore, CNN Business No matter where you live in the United States, gas prices are uncomfortably high. Filling up a car for $60, $70 or $80 is a painful experience wherever you are. But not all Americans are feeling pain at the pump equally. You might think drivers in California are struggling the
Continue Reading By Allison Morrow, CNN Business The agency that oversees Wall Street is weighing major changes to the way millions of everyday investors buy and sell stocks. That could be bad news for so-called free-trading apps like Robinhood as well as the lesser known firms that underpin their business models. Today, when you buy or sell
Continue Reading By Anna Cooban and Julia Horowitz, CNN Business The European Central Bank held off on raising interest rates on Thursday, but confirmed plans for a hike next month in a bid to fight inflation. The bank announced that it would raise the cost of borrowing by 25 basis points in July — its first rate
Continue Reading By Sara Ashley O’Brien, CNN Business A man purporting to be a member of the seven-person jury that deliberated in the Johnny Depp vs. Amber Heard trial made a series of posts on TikTok last week about what he claimed were his insights from the high-profile trial that captivated the world. While some social media
Continue Reading By Sara Ashley O’Brien, CNN Business A man purporting to be a member of the seven-person jury that deliberated in the Johnny Depp vs. Amber Heard trial made a series of posts on TikTok last week about what he claimed were his insights from the high-profile trial that captivated the world. While some social media
Continue Reading By Paul R. La Monica, CNN Business You can add the World Bank to the growing chorus sounding recession alarm bells. In its latest outlook, World Bank president David Malpass said “for many countries, recession will be hard to avoid.” Malpass joins many others on Wall Street and at central banks around the globe who
Continue Reading By Nathaniel Meyersohn, CNN Business Target is stuck with too much home decor and too many TVs. To clear out the glut, it will ramp up discounts. The retail giant said Tuesday that it would mark down prices on some bigger-ticket items that consumers have pulled back on purchasing and cancel pending orders from suppliers.
Continue Reading By Nathaniel Meyersohn, CNN Business Kohl’s may soon have a new owner. Kohl’s said late Monday that it had entered into a three-week exclusive negotiation period for a potential sale with Franchise Group, a holding company which owns The Vitamin Shoppe and other retail brands. Franchise Group has proposed to buy Kohl’s for $60 a
Continue Reading By Jennifer Korn As the future of safe, legal abortion access in the United States has been thrust into doubt, a number of at-home abortion pill startups are positioning themselves to fill some of the void. Sites such as Choix, Hey Jane and Just the Pill have launched in recent years to offer women in
Continue Reading By Jennifer Korn As the future of safe, legal abortion access in the United States has been thrust into doubt, a number of at-home abortion pill startups are positioning themselves to fill some of the void. Sites such as Choix, Hey Jane and Just the Pill have launched in recent years to offer women in
Continue Reading By Brian Fung, CNN Business A backlog of US green card applications has Silicon Valley giants calling on the Biden administration for new measures to keep adult children of high-skilled immigrant workers from being deported. Tech titans led by Google (GOOG) and including Amazon (AMZN), IBM (IBM), Salesforce (CRM), Twitter (TWTR) and Uber (UBER) sent
Continue Reading By Matt Egan, CNN Business US Treasury Secretary Janet Yellen conceded on Tuesday that inflation is at “unacceptable levels,” but she also sought to underscore that this is not a problem exclusive to the United States. “Putin’s war in Ukraine is having impacts on energy and food prices globally,” Yellen told lawmakers. “We are not
Continue Reading By Tami Luhby and Tal Yellin, CNN The white-hot labor market has driven up wages faster than at any time since the mid-1980s, as employers struggle to attract — and retain — workers. But Americans aren’t rolling in dough. Inflation has also surged, with the Consumer Price Index rising by 8.3% in the 12 months
Continue Reading By Matt Egan, CNN Business High oil and gasoline prices will need to rise even higher this summer to incentivize new production and discourage consumption, according to Goldman Sachs. The Wall Street bank is now forecasting Brent crude oil prices will average $140 a barrel between July and September, up from its prior call of
Continue Reading By Brian Fung, CNN Apple and other smartphone makers will be required to support USB-C as part of a single charging standard for mobile devices across the European Union by as early as the fall of 2024 under a new law announced Tuesday by EU officials. The legislation is aimed at reducing e-waste and eliminating
Continue Reading By Brian Fung, CNN Apple and other smartphone makers will be required to support USB-C as part of a single charging standard for mobile devices across the European Union by as early as the fall of 2024 under a new law announced Tuesday by EU officials. The legislation is aimed at reducing e-waste and eliminating
Continue Reading Opinion by Ralph Izzo for CNN Business Perspectives Russia’s move to cut off natural gas supplies to Poland and Bulgaria, and more recently Finland, parts of Germany and potentially Denmark and the Netherlands, is just the latest salvo in its ongoing weaponization of energy for political purposes. If allowed to continue unchecked, the war in
Continue Reading By Allison Morrow, CNN Business Despite all the buzz about the “Great Resignation” and a renaissance for the working classes in America, a new report finds the gap between executive and worker pay is only widening. The typical low-wage worker’s pay didn’t keep pace with inflation last year at more than a third of the
Continue Reading By Julia Horowitz, CNN Business Foreign investors lost their nerve on parking money in China over the past year, as Beijing cracked down on the country’s biggest tech companies, the real estate sector stumbled and coronavirus lockdowns crimped growth. Once a beacon of opportunity, the world’s second biggest economy looked like a difficult bet. “People
Continue Reading By Julia Horowitz, CNN Business Foreign investors lost their nerve on parking money in China over the past year, as Beijing cracked down on the country’s biggest tech companies, the real estate sector stumbled and coronavirus lockdowns crimped growth. Once a beacon of opportunity, the world’s second biggest economy looked like a difficult bet. “People
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