Money Archives

Public hearing over proposed Camdenton development set for June 7

May 18, 2022 11:30 AM ABC 17 News Team

The board approved a resolution for a pre-annexation agreement with MO Lake Development, LLC.

Burberry reported record profits for the year ended in April despite taking a recent sales hit from its biggest market

Burberry reports record profit despite a slowdown in its biggest market

May 18, 2022 11:18 AM CNN Newsource

By Sharon Browne-Peter Burberry reported record profits for the year ended in April despite taking a recent sales hit from its biggest market, China. The British luxury brand, known for its signature beige check and trench coats, reported a 23% increase in revenue for the year, while profits rose 38% to £523 million ($649 million).

To attract workers in today's tight labor market

Opinion: Want to keep your employees happy? Offer these 5 things

May 18, 2022 9:42 AM CNN Newsource

Opinion by Rosabeth Moss Kanter for CNN Business Perspectives To attract workers in today’s tight labor market, companies are touting better workplace amenities. Amazon is running ads about the company’s pay and benefits. Levi Strauss is offering to cover travel costs for workers seeking abortions. Airbnb is allowing its employees to permanently work remotely. This

Markets have plummeted over the past month as the Federal Reserve telegraphed that it would regularly hike interest rates by half a percentage point for the foreseeable future to combat persistent inflation growth.

Dow tumbles 1,160 points in worst trading day since June 2020

May 18, 2022 8:21 AM CNN Newsource

By Nicole Goodkind, CNN Business The old joke goes like this: Two friends are at a resort and one says, “The food here is really terrible.” The other replies, “And the portions are so small!” Today, it’s investors who dislike the taste of the Federal Reserve’s interest rate hikes — but seemingly want more anyway.

Target reported a stunning 52% drop in profit for the first quarter

Target posts a stunning drop in profit. Stock plunges

May 18, 2022 7:50 AM CNN Newsource

By Paul R. La Monica, CNN Business Target’s earnings didn’t hit the mark. Far from it. The retail giant reported a stunning 52% drop in profit for the first quarter, badly missing Wall Street’s forecasts. The company blamed higher expenses due to continued supply chain disruptions. Consumers also are holding back on nonessential purchases because

The European Union has unveiled a €210 billion ($221 billion) plan to wean itself off Russian oil and gas.

Europe plans to spend $221 billion to ditch Russia’s energy

May 18, 2022 7:38 AM CNN Newsource

By Anna Cooban, CNN Business The European Union has unveiled a €210 billion ($221 billion) plan to wean itself off Russian oil and gas. Presenting its “REPowerEU” plan on Wednesday, the European Commission said it would attempt to slash consumption of Russian gas across the bloc by 66% by the end of this year —

Scared investors haven’t hoarded this much cash since 9/11

May 18, 2022 7:10 AM CNN Newsource

By Julia Horowitz, CNN Business The mood hanging over financial markets is anxious and gloomy, whether you’re a professional investor or a casual trader. The CNN Business Fear & Greed Index is in “extreme fear” territory. According to the most recent survey from the American Association of Individual Investors, 49% of members think the stock

A staggering 68% of CEOs surveyed by The Conference Board expect the Fed's war on inflation will eventually trigger a recession

Most CEOs are bracing for a recession

May 18, 2022 5:10 AM CNN Newsource

By Matt Egan, CNN Business The mood in the C-Suite is darkening. CEO confidence has tumbled to the weakest level since the beginning of the Covid-19 pandemic, The Conference Board said Wednesday. For the first time during the economic expansion, CEO confidence is now in negative territory. Worse, business leaders are bracing for a potential

Heifers feed in a barn at a farm in Ashford

Why you could be paying 50% more for a jug of milk this year

May 18, 2022 5:01 AM CNN Newsource

By Julia Horowitz, CNN Business Prices are rising at the fastest pace in decades, creating a cost-of-living crisis that’s forcing people around the world to make tough choices about what to buy. The United Kingdom is no exception: inflation hit a 40-year high of 9% in April and is forecast to peak above 10% toward

China tries to make nice with Big Tech as economic challenges mount

May 18, 2022 4:26 AM CNN Newsource

By Laura He, CNN Business China is trying once again to lift the spirits of its huge tech industry after a bruising regulatory offensive that has weakened some of its biggest businesses at a time of stalling economic growth. In a rare public display of support for the private sector, Vice Premier Liu He said

City of Columbia wants residents’ help for ARPA fund spending

May 17, 2022 10:29 PM Leila Mitchell

COLUMBIA, Mo. (KMIZ) The City of Columbia is conducting a community engagement project to figure out the best way to spend the second half of its American Rescue Plan funding. The city has spent half of the $25 million in ARPA funds, but still has areas in need of the funds. For over a year

The tail of an Airbus A321-211 aircraft of Russian airline Aeroflot with registration VP-BOE is seen over the wall of the long term parking for planes of Geneva Airport on March 25. Due to sanctions imposed on Russia over the country's invasion of Ukraine

World’s largest aircraft owner lost 113 planes to Russia due to sanctions

May 17, 2022 9:18 PM CNN

By Chris Isidore, CNN Business AerCap Holdings, the aircraft leasing giant that is the world’s largest owner of jets, lost 113 planes when Russia seized them in response to sanctions triggered by the war in Ukraine. The seizures of the planes and 11 jet engines by Russian authorities caused AerCap to take a $2.7 billion

Apple notified corporate employees that it is delaying a requirement for most staffers to be in the office at least three days a week amid an increase in Covid-19 cases in the San Francisco Bay Area

Apple delays plan for Bay Area workers to be in office three days a week

May 17, 2022 4:38 PM CNN

By Sara Ashley O’Brien, CNN Business Apple notified corporate employees that it is delaying a requirement for most staffers to be in the office at least three days a week amid an increase in Covid-19 cases in the San Francisco Bay Area, where the company is based. In a message to staffers obtained by CNN

Apple delays plan for Bay Area workers to be in office three days a week

May 17, 2022 4:38 PM CNN Newsource

By Sara Ashley O’Brien, CNN Business Apple notified corporate employees that it is delaying a requirement for most staffers to be in the office at least three days a week amid an increase in Covid-19 cases in the San Francisco Bay Area, where the company is based. In a message to staffers obtained by CNN

Elon Musk proves once again that the rules don’t apply to him

May 17, 2022 4:07 PM CNN

By Chris Isidore, CNN Business How do you regulate a man worth more than $200 billion who thinks he knows better than everyone else? The simple answer is: You don’t. Elon Musk has once again proven he’ll do things his own way, announcing Friday that his $44 billion deal to buy Twitter is on hold.

The average price for gasoline in California hit $6 a gallon on May 17 for the first time -- and analysts at JPMorgan are warning that price could be the national average before the end of the summer.

California’s $6 gas could spread nationwide, JPMorgan warns

May 17, 2022 4:03 PM CNN Newsource

By Matt Egan and Chris Isidore, CNN Business The average price for gasoline in California hit $6 a gallon Tuesday for the first time — and analysts at JPMorgan are warning that price could be the national average before the end of the summer. The startling forecast comes as US gas prices have surged to

Traffic deaths in the United States continue to spike

Traffic deaths rise to highest level in 16 years, NHTSA estimates

May 17, 2022 3:55 PM CNN Newsource

By Matt McFarland, CNN Business Traffic deaths in the United States continue to spike, as the National Highway Traffic Safety Administration estimated Tuesday that there were 42,915 such fatalities in 2021. That would be the most traffic deaths in 16 years, NHTSA said. Estimated deaths increased 10.5% from 2020, but the number of deaths per

Moskvich automobiles are shown in 1989. After Renault announced its departure this week from the Russian auto market amid the country's war with Ukraine

Russia needs cars, so it’s rebooting this Soviet-era brand

May 17, 2022 3:06 PM CNN Newsource

By Peter Valdes-Dapena, CNN Business After Renault announced its departure this week from the Russian auto market amid the country’s war with Ukraine, Moscow’s mayor announced its factory will be used to restart the defunct Soviet-era Moskvich car brand. Little known outside the former Soviet Union and its satellite countries, Moskvich was founded around 1930

A US division of German insurance firm Allianz will pay more than $6 billion for what US investigators called a "massive fraudulent scheme" that involved the investments of public pensions

Allianz division agrees to pay $6 billion for defrauding teachers, religious groups and foundations

May 17, 2022 2:50 PM CNN Newsource

By Nicole Goodkind, CNN Business A US division of German insurance firm Allianz will pay more than $6 billion for what US investigators called a “massive fraudulent scheme” that involved the investments of public pensions, religious organizations and other foundations. The settlements with the US Department of Justice and US Securities and Exchange Commission are

Stablecoins were supposed to be ‘stable.’ Then the crash came

May 17, 2022 2:25 PM CNN Newsource

By Jon Sarlin, CNN Business Editor’s Note: If you or someone you know is struggling with suicidal thoughts or mental health matters, please call the National Suicide Prevention Lifeline at 800-273-8255 to connect with a trained counselor or visit the NSPL site. On Twitter and Reddit, stunned Luna and TerraUSD investors tried to take stock