Money

By Matt Egan, CNN Business Bank of America is handing out $1 billion worth of restricted stock to virtually its entire workforce as the bank seeks to gain an upper hand in the war for talent. In a memo shared exclusively with CNN, Bank of America CEO Brian Moynihan said Tuesday the company is for

By Anna Bahney Overheated home prices continue to show signs of cooling off a bit. Home prices rose 18.8% year-over-year in November, according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index. But that staggering jump was down from a 19.1% increase in October. For the past several months, prices have continued to rise

By Danielle Wiener-Bronner, CNN Business Starbucks is giving customers new ways to perk up: a line of energy drinks called Starbucks Baya Energy and a bunch of fresh flavors in the grocery aisle. Baya will be available for purchase at stores and online starting this week, and will go on sale at US Starbucks stores

By Julia Horowitz, CNN Business The pandemic will continue to stoke uncertainty and inflation in its third year, undermining the global recovery from the coronavirus and pushing total economic losses toward $14 trillion. That’s according to the International Monetary Fund, which on Tuesday slashed its global growth forecast for 2022 by half a percentage point

By Julia Horowitz, CNN Business After a long period of calm, market volatility has returned in dramatic fashion. What’s happening: US stock markets went on a rollercoaster ride Monday, plunging and then rallying all within the span of a single trading session. The S&P 500 index, at one point down almost 4%, finished the day

By Sonia Moghe, CNN A Manhattan restaurant is looking into its enforcement of vaccine requirements for indoor dining, after Sarah Palin allegedly dined there indoors while unvaccinated. Palin is in New York City for her defamation trial against the New York Times, which was delayed Monday morning after she tested positive for Covid-19. “She is,

By Jordan Valinsky, CNN Business Coca-Cola is turning another one of its drinks into an alcoholic alternative. It’s the company’s third boozy beverage as it taps into the growing canned cocktail craze. In a partnership between Molson Coors and Coke, the companies are launching Simply Spiked Lemonade, an alcoholic drink inspired by the Simply brand’s

By Chris Isidore, CNN Business It’s been a rough start to 2022 for the world’s richest person. He’s not too worried, though. Elon Musk’s holdings of Tesla stock have lost about $30 billion this year through Monday’s close, as the stock slid 12%.But the next 12 months could be the most lucrative ever for Musk.

By Anna Cooban, CNN Business Unilever is cutting 1,500 management jobs around the world as the consumer goods giant comes under intense pressure from shareholders to boost growth. The cuts amount to a 15% reduction in the number of senior managers and 5% of junior managers, Unilever said in a statement on Tuesday. Factory workers

By Diksha Madhok, CNN Business Bob Dylan has sold his entire catalog of recorded music to Sony Music. The recording company described the deal for 60 years worth of music as a “landmark agreement” in a statement. The deal was concluded in July last year, but announced Monday. The deal includes “the entirety of Bob

By Ivana Kottasová, CNN An undersea pipeline set to deliver gas from Russia to Germany has become exactly what the two countries have always insisted it would never be: A weapon in a geopolitical crisis. The United States, United Kingdom, Ukraine and several European Union member states have fiercely opposed the pipeline ever since it

By Michelle Toh, CNN Business Global stocks were mixed Tuesday, after a dramatically volatile day on Wall Street fueled by concerns over the US Federal Reserve’s plans to hike interest rates and tensions in Ukraine. Markets in Asia Pacific fell sharply throughout the day, with Australia’s S&P/ASX 200 and Japan’s benchmark Nikkei closing down 2.5%