Money

By Anneken Tappe, CNN Business The Federal Reserve is raising interest rates for the first time since 2018, the central bank announced Wednesday at the conclusion of its highly anticipated two-day monetary policy meeting. The move marks the end of the Fed’s pandemic-era easy money policy and comes amid soaring inflation across America. The federal

By Frank Pallotta, CNN Business Two of the most recognizable voices in the NFL are switching networks. Joe Buck and Troy Aikman are leaving their long-time home at Fox to head to ESPN’s “Monday Night Football,” the network announced Wednesday. The broadcasting duo, who have called over 300 games together, will step into the “Monday

By David Goldman, CNN Business After a number of US states passed laws severely restricting access to abortions, Citigroup this week said it is providing employees with travel benefits to facilitate access to abortion clinics. “In response to changes in reproductive healthcare laws in certain states in the U.S., beginning in 2022 we provide travel

By Charles Riley, CNN Business The Russian state television journalist who took a dramatic stand against President Vladimir Putin’s war in Ukraine during a live broadcast says it was “impossible to stay silent” and that she wants the world to know that many Russians are against the invasion. Marina Ovsyannikova told CNN’s Christiane Amanpour on

By Frank Pallotta, CNN Business Last week, Disney and its CEO Bob Chapek bungled their response to Florida’s controversial bill dubbed “Don’t Say Gay.” Now, some of the company’s employees are staging a walkout. A Twitter account, “@DisneyWalkout,” and an associated website, “WhereIsChapek.com,” have organized a series of 15-minute daily walkouts, encouraging employees to protest

By Paul R. La Monica, CNN Business It’s been a year full of worries for investors, from geopolitical conflict to inflation to the pandemic, and it doesn’t look like the concerns will ease anytime soon. The combination of these major macroeconomic and geopolitical issues will make it difficult for stocks to climb out of their

By Nathaniel Meyersohn, CNN Business Could the biggest department store marriage in years be in the works? Hudson’s Bay Co., the Canadian department store and owner of Saks Fifth Avenue, is considering making a bid for Kohl’s, Axios reported Wednesday, citing sources. The report drove Kohl’s stock up around 15% during mid-day trading Wednesday. A

By Matt Egan, CNN Business The Covid era of free money has come to an end. After dropping interest rates to zero in March 2020 to revive the economy, the Federal Reserve has just shifted gears to go into inflation-fighting mode. Fed officials said Wednesday they are raising interest rates, beginning their first cycle of

By Rebekah Riess, CNN Business The U.S. Coast Guard is working on a plan to safely refloat a 1,095-foot container ship operated by Evergreen Marine Corp. that grounded in the Chesapeake Bay Sunday night. This comes nearly a year after the container ship Ever Given, also operated by Evergreen Marine, became grounded in the Suez

By Brian Stelter and Oliver Darcy, CNN Business Fox News correspondent Benjamin Hall, who was severely injured while reporting outside Kyiv on Monday, has been evacuated from the country, Fox said. “Ben is alert and in good spirits,” Fox News Media CEO Suzanne Scott said Wednesday in a memo to staffers. “He is being treated

By Matt Egan, CNN Business President Joe Biden is using his bully pulpit to call out the tendency for gasoline prices to go up like a rocket when oil spikes, but only drop like a feather when crude crashes. Biden fired off a tweet Wednesday morning highlighting the painfully slow decline in gasoline prices in

By Anneken Tappe, CNN Business The Federal Reserve will likely hike interest rates on Wednesday, marking the end of the ultra-low rate environment the pandemic ushered in two years ago. The market expects a quarter-percentage point to be added to the benchmark rate, lifting it above zero. It would be the first rate hike since