Nadeen Ebrahim Libya was thrust back into the spotlight last week when it announced that it is pumping a million fewer barrels of oil than it did last year. That was big news for oil-consuming nations that are scrambling to look for additional supplies as crude from Russia, the world’s third-biggest producer, comes under Western
Continue Reading By Alicia Wallace, CNN Business The record run-up in home prices and rents exacerbated the affordable housing crisis in the US, and rising interest rates stand to make it even worse, according to Harvard University’s annual State of the Nation’s Housing Report released Wednesday. Although quickly rising mortgage rates are already appearing to cool overheated
Continue Reading By Anna Bahney, CNN Business There is a shift happening in the housing market. After more than a year of soaring demand, exploding home prices and increasing real estate sales, the market finally seems to be cooling off. “The housing market isn’t crashing, but it is experiencing a hangover as it comes down from an
Continue Reading Opinion by Joe O’Connor and Juliet Schor for CNN Business Perspectives It’s now well recognized how difficult the pandemic has been for workers. A Conference Board survey of workers from September 2021 found that more than three-quarters of US respondents reported stress and burnout as big challenges to being at work, versus 55% six months
Continue Reading By Chris Isidore, CNN Business More tieups at West Coast ports are just about the last thing the US economy needs right now. Delays caused by a flood of cargo last year continue to create widespread shortages of goods throughout the economy and added to inflationary pressures. But a current round of labor talks between
Continue Reading By Chris Isidore, CNN Business More tieups at West Coast ports are just about the last thing the US economy needs right now. Delays caused by a flood of cargo last year continue to create widespread shortages of goods throughout the economy and added to inflationary pressures. But a current round of labor talks between
Continue Reading Story by Reuters and Jessie Yeung, CNN Macao, the world’s biggest gambling hub, began its second day of mass Covid-19 testing on Monday after dozens of locally transmitted cases were discovered over the weekend. But while most businesses have shut, casinos remain open. The testing of Macao’s roughly 600,000 residents is expected to end on
Continue Reading By Reuters The cryptocurrency industry was on edge on Monday as bitcoin struggled to stay above a key level, with investors fearing that problems at major crypto players could unleash a wider market shakeout. Bitcoin, the world’s biggest cryptocurrency, was trading just under the symbolic level of $20,000 in early London trading hours. Bitcoin had
Continue Reading By Matt McFarland, CNN Business Gas prices may be skyrocketing, but Americans still love their RVs despite the fact that they often get 10 mpg — or less. RV popularity boomed during the pandemic as travelers looked for safe ways to travel while maintaining social distance. Americans continue to turn to RVs even as they’ve
Continue Reading By Clare Duffy, CNN Business Last week, the Associated Press announced the creation of an unusual new position: a democracy editor. Tom Verdin — a more than 20-year veteran of the AP who spent the past seven years leading its state government team — will take up the role,managing coverage on challenges to democracy, voting
Continue Reading By Clare Duffy, CNN Business Last week, the Associated Press announced the creation of an unusual new position: a democracy editor. Tom Verdin — a more than 20-year veteran of the AP who spent the past seven years leading its state government team — will take up the role,managing coverage on challenges to democracy, voting
Continue Reading By Catherine Thorbecke, CNN Business President Joe Biden said he was “proud” of Apple’s retail workers in Towson, Maryland, who voted this weekend to form the first-ever labor union at one of the tech giant’s US stores. “I’m proud of them,” the President told reporters from Rehoboth Beach, Delaware, on Monday. “Workers have a right
Continue Reading By Zoe Sottile, CNN There really is no such thing as a free lunch. An anonymous bidder paid a record-breaking $19 million for a private steak lunch with legendary investor Warren Buffett. The sale was part of the 21st annual auction for a lunch with Buffett, produced in collaboration with eBay and the Glide Foundation,
Continue Reading By Chris Isidore, CNN Business US drivers got a slight — very slight — break on prices this weekend as the AAA average for a gallon of unleaded gas fell below the $5 mark. The average price Sunday was $4.98 a gallon, down from $4.99 in Saturday’s reading. The average gas price had been $5
Continue Reading By Frank Pallotta, CNN Business “Lightyear” wasn’t able to get enough buzz at the box office this weekend. The latest film from Disney’s Pixar — which features the voice work of Chris Evans as Buzz Lightyear — opened to an estimated $51 million at the North American box office this weekend. That number came in
Continue Reading By Frank Pallotta, CNN Business “Lightyear” wasn’t able to get enough buzz at the box office this weekend. The latest film from Disney’s Pixar — which features the voice work of Chris Evans as Buzz Lightyear — opened to an estimated $51 million at the North American box office this weekend. That number came in
Continue Reading By Inke Kappeler and Tara John, CNN Germany must reduce natural gas consumption and increase the burning of coal in order to help fill gas storage facilities for next winter, German Economy Minister Robert Habeck announced Sunday as the country moves away from reduced Russian gas supplies. “The situation is serious,” Habeck said in a
Continue Reading By Catherine Thorbecke and Chris Isidore, CNN Apple workers in Towson, Maryland, have voted to form the first-ever labor union at one of the tech giant’s US stores. The landmark union election concluded on Saturday evening with 65 workers voting for unionization and 33 against it, a nearly two-to-one margin in favor of the union,
Continue Reading Opinion by Jonathan Reckford and Lisa Rice for CNN Business Perspectives It is ironic and fitting that every June, our nation recognizes both Juneteenth and homeownership, which the George W. Bush administration turned into a month-long observance. Juneteenth is the celebration of Black people’s liberation and theoretical ability to participate fully in the American Dream.
Continue Reading Opinion by Jonathan Reckford and Lisa Rice for CNN Business Perspectives It is ironic and fitting that every June, our nation recognizes both Juneteenth and homeownership, which the George W. Bush administration turned into a month-long observance. Juneteenth is the celebration of Black people’s liberation and theoretical ability to participate fully in the American Dream.
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