By Peter Valdes-Dapena, CNN Business A Toyota sold at a Florida collector car auction Friday for $2.5 million. As you might guess, this was not your standard Rav4 Hybrid. (Yes, car prices have gone up a lot, but not that much.) This particular Toyota was, genuinely, the rarest of the rare. It was a Toyota
Continue Reading
By Peter Valdes-Dapena, CNN Business Stellantis, the maker of Dodge and Jeep vehicles, has a factory in Russia. But it has not announced plans to pull out the country in the face of Russia’s invasion of Ukraine, unlike some other companies. Chief executive Carlos Tavares said he feels that doing so would only harm the
Continue Reading
By Brian Fung, CNN Business Russia is blocking Facebook in the country, according to its communications regulator. “In March 2022, a decision was made to block access to the Facebook network (owned by Meta Platforms, Inc.) in the Russian Federation,” the statement said. In response, Meta president of global affairs Nick Clegg said the company
Continue Reading By Brian Fung, CNN Business Russia moved to block access to Facebook within its borders on Friday, seeking to shut down the world’s biggest social media platform and drawing a rebuke from the Biden administration. “In March 2022, a decision was made to block access to the Facebook network (owned by Meta Platforms, Inc.) in
Continue Reading
Opinion by Mark Zandi for CNN Business Perspectives Painfully high inflation has become the nation’s number one economic problem, ignited by the pandemic, and set to get worse as Russia’s invasion of Ukraine sends gasoline prices higher. In his State of the Union address, President Biden proposed several steps to address the inflation problem, and
Continue Reading
By Jeanne Sahadi, CNN Business With Russia’s internationally condemned invasion of Ukraine, one thing is certain: No one knows exactly how things will play out. So far that disturbing uncertainty hasn’t sent markets into a sustained tailspin. US stocks took a hit the week of the invasion, but have since recovered some of those losses.
Continue Reading By Jeanne Sahadi, CNN Business With Russia’s internationally condemned invasion of Ukraine, one thing is certain: No one knows exactly how things will play out. So far that disturbing uncertainty hasn’t sent markets into a sustained tailspin. US stocks took a hit the week of the invasion, but have since recovered some of those losses.
Continue Reading
By Frank Pallotta, CNN Business Brandon Sanderson, the prolific fantasy author, broke the record for the most-funded Kickstarter recipient by bringing in more than $20.3 million on the platform since March 1. Sanderson created the Cosmere universe in which multiple stories like the “Mistborn” series take place. He originally sought $1 million in 30 days
Continue Reading
By Frank Pallotta, CNN Business “The Batman” opens this weekend and theaters are hoping this blockbuster film will help the industry nudge closer toward normalcy. The film stars Robert Pattinson as the Caped Crusader. It is projected to bring in roughly $100 million for its opening weekend in North America. That would be one of
Continue Reading
By Nathaniel Meyersohn, CNN Business The conditions described by the US Food and Drug Administration at a Family Dollar warehouse in West Memphis, Arkansas, were skin-crawling. “Live rodents, dead rodents in various states of decay, rodent feces and urine, evidence of gnawing, nesting and rodent odors throughout the facility, dead birds and bird droppings.” Foul
Continue Reading
By Oliver Darcy, CNN Business Russian President Vladimir Putin’s creeping authoritarianism got a lot more overt on Friday when he signed a censorship bill into law making it impossible for news organizations to accurately report the news in or from Russia. The law, according to the Committee to Protect Journalists, makes it a crime to
Continue Reading
By Frank Pallotta, CNN Business Disney+ is creating an ad-supported tier for its streaming service to ramp up its growing subscriber base. Though Disney shared that the new ads tier will join the subscription option in the United States sometime later this year, details are scant. The exact launch date and pricing will be “announced
Continue Reading
By Brian Fung, CNN Business Google has suspended all advertising in Russia, the company confirmed to CNN Friday. “In light of the extraordinary circumstances, we’re pausing Google ads in Russia,” the company said in a statement. “The situation is evolving quickly, and we will continue to share updates when appropriate.” The decision covers all Google’s
Continue Reading
By Anna Cooban, CNN Business The number of independent media voices Russians can read and watch is dropping fast. Russian authorities have restricted access to news publications including BBC Russia, Radio Liberty and Latvia-based Meduza, RIA Novosti reported on Friday. The media outlets have been added to a list of publications “containing appeals for mass
Continue Reading
By Abbas Al Lawati and Nadeen Ebrahim, CNN The Middle East found itself dragged into coverage of the conflict in Ukraine over the past week as journalists descended on the country to cover the biggest European war in decades. Western war reporters, more used to being deployed in Middle East conflict zones, were quick to
Continue Reading
By Chris Isidore, CNN Business US gas prices are surging at pace drivers haven’t seen since Hurricane Katrina in 2005. The national average price for a gallon of regular gas stood at $3.84 a gallon Friday, according to AAA. That is the highest price since September 2012 and 11 cents higher than Thursday. Gas prices
Continue Reading
By Anneken Tappe, CNN Business The US economy added 678,000 jobs in February, exceeding economists’ expectations. It was the best month for job growth since July. The nation has 2.1 million jobs to go before hitting the February 2020 level and recouping all positions lost in the pandemic, the Bureau of Labor Statistics reported Friday.
Continue Reading
By Clare Duffy and Brian Fung, CNN Business When Russia moved to “partially restrict” Facebook access in the country last week, drawing the social network deeper into an international conflict, it prompted a defiant response from the company’s most visible representative on the world stage. Not Mark Zuckerberg, but Nick Clegg. “Yesterday, Russian authorities ordered
Continue Reading
By Julia Horowitz, CNN Business Stocks around the world fell Friday following the news that Russian troops are occupying Ukraine’s largest nuclear power plant. But shares in Europe were battered particularly hard. What’s happening: Germany’s DAX index and France’s CAC 40 fell 3.8% in early trading, while the FTSE 100 in London dropped 3.5%. US
Continue Reading
By Charles Riley, CNN Business Russia’s second largest oil company has broken ranks with President Vladimir Putin. Lukoil, which produces more than 2% of the world’s crude oil and employs over 100,000 people, has called for an end to Russia’s war in Ukraine. The company’s board of directors said in a statement to shareholders, staff
Continue Reading