Money

By Nicole Goodkind, CNN Business A US division of German insurance firm Allianz will pay more than $6 billion for what US investigators called a “massive fraudulent scheme” that involved the investments of public pensions, religious organizations and other foundations. The settlements with the US Department of Justice and US Securities and Exchange Commission are

By Jon Sarlin, CNN Business Editor’s Note: If you or someone you know is struggling with suicidal thoughts or mental health matters, please call the National Suicide Prevention Lifeline at 800-273-8255 to connect with a trained counselor or visit the NSPL site. On Twitter and Reddit, stunned Luna and TerraUSD investors tried to take stock

By Anneken Tappe, CNN Business Hindsight is 20:20, even for the Federal Reserve. The US central bank is in the midst of a “whatever it takes” moment when it comes to inflation, but if Fed officials had known how high inflation would rise, they would have changed their course on policy earlier, Fed Chairman Jerome

By Chris Isidore, CNN Business AerCap Holdings, the aircraft leasing giant that is the world’s largest owner of jets, lost 113 planes when Russia seized them in response to sanctions triggered by the war in Ukraine. The seizures of the planes and 11 jet engines by Russian authorities caused AerCap to take a $2.7 billion

By Jordan Valinsky, CNN Business Beloved discount store Century 21 is reopening in New York City nearly two years after the pandemic forced it out of business. The retailer, which sold designer clothing at bargain basement prices, is reopening in spring 2023 at its former location near the World Trade Center in downtown Manhattan. A

By Chris Isidore, CNN Business How do you regulate a man worth more than $200 billion who thinks he knows better than everyone else? The simple answer is: You don’t. Elon Musk has once again proven he’ll do things his own way, announcing Friday that his $44 billion deal to buy Twitter is on hold.

By Brian Stelter, CNN Business In the wake of the Buffalo supermarket mass shooting and widespread discussion of far-right violent extremism, Fox’s prime time hosts pivoted to what they claim is the true threat: The left. Condemnations of “the left” echoed across Tucker Carlson, Sean Hannity and Laura Ingraham’s highly-rated shows on Monday night. The

By Anna Cooban, CNN Business Europe can’t make up its mind on how to pay for Russia natural gas imports that continue to fuel homes, businesses and power stations. The confusion centers on the logistics of the payments themselves. Several European gas buyers have been preparing to work around the Kremlin’s demand that gas bills

By Paul R. La Monica, CNN Business Warren Buffett’s Berkshire Hathaway has been a top investor in Wells Fargo for the past few years, despite the company’s fake account scandal, overcharging foreign-exchange customers and myriad other problems. Now, the Oracle of Omaha has finally thrown in the towel. Berkshire Hathaway disclosed late Monday that it

By Jordan Valinsky, CNN Business New York Mayor Eric Adams is begging the city’s business leaders, including JPMorgan CEO Jamie Dimon, to ride the subway to work. Adams is pushing to bring people back to New York offices after years of working from home. “We’re going to get him on a train,” Adams told the

Opinion by Kevin Johnson and Mark Ruffalo for CNN Business Perspectives As energy tensions continue to rise in Europe amidst the war in Ukraine, Americans are feeling the effect at home. Russia shut off natural gas supplies to Poland and Bulgaria last month, and the European Union recently proposed a ban on Russian oil imports.

By Anna Bahney, CNN Business Home prices are at record highs and still rising, but there are some early indications that the market may be starting to cool. For sellers looking to get top dollar for their home, the time to sell is now. But homeowners are still holding back from listing their homes, said

By Julia Horowitz, CNN Business West Texas Intermediate crude, the reference point for US oil prices, usually trades at a discount of a few dollars to Brent crude, the global benchmark. But this morning, the near-term futures contracts for WTI and Brent are both roughly $115 per barrel — an indication of how the market