By Jordan Valinsky, CNN Business Foot Locker’s stock tumbled 35% Friday after the shoe store predicted sales and profit would fall sharply this year. The culprit: Nike. The retailer, which didn’t explicitly mention Nike in its earnings report, said Friday that no single supplier is expected to account for more than about 60% of its
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By Anna Bahney, CNN Business Even as home prices have skyrocketed during the pandemic, homeownership continues to grow. But the rate of home buying has not increased at the same pace for all Americans, according to a new report from the National Association of Realtors. More Americans own a home now than in any year
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By Sara Ashley O’Brien, CNN Business In the early days of the pandemic, as households around the country went into lockdown, shoppers for Instacart had a seemingly limitless amount of grocery orders to fulfill. Their earnings were, at times, bolstered significantly by generous tips in recognition of the personal health risk workers were taking. But
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Opinion by Gad Levanon for CNN Business Perspectives Over the past 12 months, US consumer prices rose by 7.5%, the highest rate in nearly 40 years. Worse, inflation is showing no signs of slowing. The Federal Reserve typically fights inflation by raising interest rates, which slows the economy by reducing the demand for goods and
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By Anneken Tappe, CNN Business Yet another key measure of inflation ticked higher at the start of the year, rising at its fastest pace in nearly 40 years. The price index tracking consumer spending increased by 6.1% between January 2021 and January 2022, according to new data from the Commerce Department released Friday. That was
Continue Reading By Anneken Tappe, CNN Business Yet another key measure of inflation ticked higher at the start of the year, rising at its fastest pace in nearly 40 years. The price index tracking consumer spending increased by 6.1% between January 2021 and January 2022, according to new data from the Commerce Department released Friday. That was
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By Julia Horowitz, CNN Business The West has not gone after Russian oil. But nervous traders have decided they still don’t want to touch it, jolting the global energy market at a delicate moment. The main grade of oil that Russia exports into Europe is now being offered for sale at a hefty discount, signaling
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By Jordan Valinsky, CNN Business Chicken nuggets have fallen victim to rising prices. Burger King’s largest franchisee in the United States said Thursday that it will soon reduce the number of nuggets in meals from ten pieces to 8. Carrols Restaurant Group, which operates 14% of Burger Kings’ roughly 7,000 US locations, told investors Thursday
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By Chris Liakos, CNN Business Two of the world’s biggest container shipping companies are halting cargo bookings to and from Russia. “As the stability and safety of our operations is already being directly and indirectly impacted by sanctions, new Maersk bookings to and from Russia will be temporarily suspended, with exception of foodstuffs, medical and
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By Jordan Valinsky, CNN Business International companies that hold a major presence in Russia are bracing for more sanctions from Western countries. Russia has already paid a price for its aggression: the country’s stock markets and currency have tanked this week after President Vladimir Putin ordered troops into Ukraine. Sanctions from the United States and
Continue Reading By Jordan Valinsky, CNN Business International companies that hold a major presence in Russia are bracing for more sanctions from Western countries. Russia has already paid a price for its aggression: the country’s stock markets and currency have tanked this week after President Vladimir Putin ordered troops into Ukraine. Sanctions from the United States and
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By Laura He, CNN Business China has relaxed restrictions on imports of Russian wheat, a move that could address food security concerns in the world’s second largest economy and ease the impact of Western sanctions on Russia. The decision to allow imports of wheat from all regions of Russia was made during Russian President Vladimir
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By Chris Isidore, CNN Business Russia’s invasion of Ukraine has sent oil futures above $100 a barrel for the first time since 2014 and will probably bring $4-a-gallon gasoline to much of the United States. But it won’t be a major drag on US economic growth. Economists project that at most the nation’s gross domestic
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By Mark Thompson, CNN Business British Airways has suspended its flights to Moscow after Russia banned all UK carriers from its airspace. Russia’s Federal Agency for Air Transport said in a statement Friday that it was banning UK registered flights, as well as aircraft owned, leased or operated by a person associated with the United
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By Charles Riley, CNN Business The West has announced a barrage of tough new sanctions aimed at cutting off Russia’s banks from the global financial system and depriving the country of vital technology. Yet a punishing financial weapon is being kept in reserve. The United States and the European Union held back from cutting Russia
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By Michelle Toh, Junko Ogura, Hira Humayun, Isaac Yee, Eric Cheung, Sam Fossum and Ramishah Maruf, CNN Countries around the world are imposing fresh sanctions against Russia over its invasion of Ukraine. The United States, the European Union, the United Kingdom and Canada banned certain Russian banks from SWIFT on Saturday, the high security network
Continue Reading By Charles Riley, CNN Business The West has announced a barrage of tough new sanctions aimed at cutting off Russia’s banks from the global financial system and depriving the country of vital technology. Yet a punishing financial weapon is being kept in reserve. The United States and the European Union held back from cutting Russia
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By Brian Stelter and Clare Duffy, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. From a media perspective, what distinguishes Russia’s invasion of Ukraine is the sheer amount of information. The staggering amount of data. Some of it is reliable, some
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COLUMBIA, Mo. (KMIZ) The new Schnucks Battle Crossing store located at 5410 Clark Lane in Columbia will open to customers at 7 a.m. on March 23. Schnuck Markets now have 112 stores overall and four Mid-Missouri stores joining two others in Columbia and one in Jefferson City. “The city of Columbia and its residents have
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By Matt Egan, CNN American Petroleum Institute CEO Mike Sommers insisted on Thursday that US oil companies would not seek to capitalize on Russia’s invasion of Ukraine. “Our companies would never take advantage of this kind of situation,” Sommers, who leads the most powerful US energy trade group, told CNN in a phone interview. Earlier
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