Money

By Frank Pallotta, CNN Business There are summer blockbusters, and then there’s “Top Gun: Maverick.” The Paramount film, featuring Tom Cruise‘s return to the skies as Pete “Maverick” Mitchell decades after the hit 1986 original, won the domestic box office over the Labor Day weekend — bringing in $7.9 million for the four-day holiday. That

By Mark Thompson, CNN Business The European Central Bank hiked interest rates by a record three-quarters of a percentage point on Thursday and promised more to come as it scrambles to contain the inflationary fallout from Russia’s invasion of Ukraine and the ensuing energy crisis. The move will take the benchmark rate for the 19

By Peter Valdes-Dapena, CNN Business Jeep will bring out three new all-electric SUVs over the next few years as it moves toward selling only electric vehicles in Europe by 2030 and having half its sales in the US be all-electric by then, too. Executives for the off-road SUV brand also indicated that more fully electric

By Nicole Goodkind, CNN Business The US dollar can’t be stopped. Fueled by the Federal Reserve’s aggressive tightening policy, the value of the greenback is appreciating to multi-decade highs and squashing currencies around the world. Typically, it’s emerging-market countries that shoulder the burden of a strong dollar. That’s because developing countries have been encouraged by

By Lauren Kent and Anna Cooban, CNN Business The United Kingdom on Thursday confirmed plans to subsidize energy bills for households and businesses, joining other European governments in a costly race to protect their economies from freezing up this winter as Russia cuts off supplies of gas. The UK plan could cost as much as

By Lauren Kent, CNN Big oil companies are spending millions to portray themselves as taking action on climate change, but their investments and lobbying activities don’t live up to their planet-friendly claims, according to a new report. An analysis from London-based energy and climate think-tank InfluenceMap found that the amount of climate-positive messaging used by

By Matt Egan Oil prices dropped sharply on Wednesday, deepening a selloff that has already brought relief to drivers at the gas pump. US oil tumbled 5.1% to $82.41 a barrel in recent trading. That’s the lowest intraday price since January 24. US crude is now down by more than one-third since briefly hitting $130

By Chris Isidore, CNN Business The Major League Baseball Players Association is joining the AFL-CIO, the nation’s largest labor federation that includes unions representing a total of 12.5 million members. With only about 1,200 members, the MLBPA is fairly small by comparison to many of the other unions in the federation, But it is one