Money

By Matt Egan, CNN Business The International Energy Agency is planning to hold an emergency meeting Friday, a person familiar with the matter confirmed to CNN, setting the stage for other nations to follow the United States’ lead in releasing oil from emergency reserves. After announcing a record release of 180 million barrels of oil,

By Anna Bahney, CNN Business The federal government’s emergency rental assistance program helped prevent more than one million evictions last year. An estimated 1.36 million renters avoided an eviction filing in 2021 as a result of the government’s unprecedented $46.5 billion rent relief program and other protections, according to a recent analysis by Princeton University’s

By Julia Chatterley Russia’s invasion of Ukraine has the world heading toward a global food crisis that could impact millions of people. But things are particularly dire in Ukraine. According to the World Food Programme, almost half of all Ukrainians are concerned about having enough food to eat. Among the many organizations that have offered

By Parija Kavilanz, CNN Business Can’t stand that old bookcase and dining table with the mismatched chairs you once thought looked so cool? If you bought them at Ikea, the retailer will pay you to get them back. The Swedish furniture and home goods chain said Thursday it is making its Buy Back & Resell

By Nathaniel Meyersohn, CNN Business Kohl’s is pushing back against intense pressure from Wall Street to make changes or sell the company. The retailer sent a sharply worded letter to shareholders Thursday ahead of the its annual meeting in May, urging them to reject an activist investor’s efforts to gain control of the company and

By Paul R. La Monica, CNN Business The stock market surged in March, but stumbled on the last day of the first quarter. And investors are reeling after a tough start to 2022. The Dow fell more than 550 points Thursday. It and the S&P 500 each dropped nearly 5% in the first three months

By Matt McFarland, CNN Business US roads saw the largest increase on record in deaths per mile traveled in 2020, including a 26% increase in hit-and-run fatalities that outpaced the increase in overall deaths. The National Highway Traffic Safety Administration released the data earlier this month. Hit-and-run deaths have grown steadily in the last 15

By Jordan Valinsky, CNN Business Former Disney CEO Bob Iger is breaking from his successor on Florida’s recently passed “Don’t Say Gay” law. Bob Chapek, Iger’s successor, initially opted not to speak out against the controversial law. But corporate executives should voice their opinions about ethical dilemmas, Iger recently told CNN+ host Chris Wallace. “A

By Anna Bahney, CNN Business Mortgage rates rose again this week as the conflict in Ukraine and rising inflation continued to weigh on the US economy. The 30-year fixed-rate mortgage averaged 4.67% in the week ending March 31, up from 4.42% the week before, according to Freddie Mac. Rates climbed in the face of rising

By Anneken Tappe, CNN Business America’s inflation problem didn’t abate in February, as another key price measure rose to a 40-year high. The Personal Consumption Expenditures price index rose 6.4% in February from the same period a year earlier. It was the fastest increase since January 1982, the Bureau of Economic Analysis reported Thursday. Stripping

By Anna Cooban, CNN Business Germany “will be poorer” because of Russia’s assault on Ukraine, the government’s economy minister has warned, as soaring energy prices fuel record inflation and threaten to tip Europe’s biggest economy into a recession. “It is not possible that this ends without costs for German society, it is unthinkable,” Robert Habeck

By Julia Horowitz, CNN Business Oil prices are pulling back sharply as investors gear up for the White House to potentially unleash a record amount of crude from US reserves in a bid to ease pressure at the pump following Russia’s invasion of Ukraine. What’s happening: President Joe Biden is weighing a plan to release