Money

By Jordan Valinsky, CNN Business Jack Sweeney, a Florida teen who tracks Elon Musk’s private jet online has a new aviation-themed target: Russian oligarchs and billionaires. The 19-year-old, who rejected Musk’s $5,000 offer to delete his Twitter account, recently launched two new automated Twitter handles — @RUOligarchJets and @Putinjet — following Russia’s invasion of Ukraine.

By Charles Riley, CNN Business Global crude oil prices surged to more than $110 per barrel and the cost of natural gas skyrocketed to a new record in Europe on Wednesday as Russia’s escalating military campaign in Ukraine stoked fear in markets about a supply shock. Brent crude futures, the global benchmark, jumped nearly 9%

By Paul R. La Monica, CNN Business Consumers are feeling the pinch from inflation, and that will likely continue for the foreseeable future. That’s because major companies have been raising prices to protect their profit margins — and they are showing no signs of changing course anytime soon. Companies in a variety of industries have

By Mark Thompson and Vasco Cotovio, CNN Business The Russian economy is taking “serious blows,” the Kremlin acknowledged Wednesday, as the country’s growing isolation piles further pressure on its tottering financial system. Apple, ExxonMobil, Ford, Boeing and Airbus joined a list of companies shutting down or suspending their operations in Russia in response to its

By CNN Business staff Dozens of the world’s biggest companies have abandoned or scaled back their operations in Russia in response to its invasion of Ukraine. The exodus affects every corner of the economy, from its vast energy riches through autos, finance, retail, entertainment and fast food, starving Russia of new investment and removing products

By Matt Egan, CNN Business ExxonMobil pledged Tuesday to leave its last remaining oil-and-gas project in Russia, and it will not invest in new developments in the oil-rich country. By moving to discontinue its Sakhalin-1 project in Russia, Exxon joins a growing list of energy companies, including BP and Shell, that have announced their intention

By Peter Valdes-Dapena, CNN Business Stellantis, the company formed one year ago from the merger of Fiat Chrysler Automobiles and France’s PSA, has plans to double its net revenues by 2030 while moving more of its 14 car brands to being fully electric, CEO Carlos Tavares said in a presentation Tuesday. The company also says

By Sonia Moghe, CNN The federal judge who presided over Sarah Palin’s defamation trial against the New York Times said in a new written opinion setting forth his decision to dismiss the case last month that the former Alaska governor “wholly failed” to prove her case and that “no reasonable jury” would have found the