By David Goldman and Laura He, CNN Business Stock markets fell and oil prices surged Monday as investors grew increasingly concerned about the consequences of Russia’s invasion of Ukraine. European markets opened lower, as the West continued to impose fresh sanctions on Russia. In early trade the United Kingdom’s FTSE 100 fell 1%, the German
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By Jordan Valinsky, CNN Business Russian-made alcohol is the latest target in the growing backlash against the country’s invasion of Ukraine. So far, officials in Ohio, Utah and New Hampshire have called on liquor stores to remove Russian-made or Russian-branded products from shelves, a move that largely targets vodka since it’s most closely associated with
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By Ramishah Maruf, CNN Business BP is cutting ties with Rosneft in response to Russia’s invasion of Ukraine. The British company said in a statement Sunday that it would exit its 19.75% stake in the Russian state oil giant, describing Moscow’s decision to attack its neighbor as “an act of aggression which is having tragic
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By Ramishah Maruf, CNN A federal grand jury in San Diego indicted the founder of BitConnect for allegedly orchestrating a $2.4 billion global Ponzi scheme, the Justice Department said Friday. Satish Kumbhani, 36, is accused of misleading investors about the cryptocurrency’s “lending program,” where he claimed the proprietary technology would bring substantive returns to investors
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By Emma Tucker, Melissa Alonso and Jackie Wattles, CNN A shipment of Starlink user terminals — small antennas that allow customers to access SpaceX’s satellite-based internet service — arrived in Ukraine Monday, providing a back stop for Ukrainians who may see their traditional service interrupted amid the Russian invasion. SpaceX founder and CEO Elon Musk
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By Parija Kavilanz, CNN Business As Covid restrictions ease, expect to see more malls morph into family entertainment destinations where shopping may not even be what draws shoppers in. Retail analysts say it’s become necessary for mall operators to diversify the in-mall experience beyond shopping in order to stay relevant to consumers — especially as
Continue Reading By Jordan Valinsky, CNN Business Russian-made alcohol is the latest target in the growing backlash against the country’s invasion of Ukraine. So far, officials in Ohio, Utah and New Hampshire have called on liquor stores to remove Russian-made or Russian-branded products from shelves, a move that largely targets vodka since it’s most closely associated with
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By Julia Horowitz, CNN Business Russian President Vladimir Putin’s decision to invade Ukraine last week shattered the security order in Europe that has existed since the end of the Cold War. It’s also compelled investors to consider whether they need to adjust to a world that’s changed for good. “I believe that Russia’s invasion of
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By Frank Pallotta, CNN Business Robert Pattinson will be the latest actor to don the cape and cowl on the big screen in “The Batman,” which hits theaters on Friday. The Warner Bros. film is anticipated to be one of the biggest blockbusters of the year: Films based on Batman have notched more $5 billion
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By Frank Pallotta, CNN Business “Saturday Night Live” returned from a nearly monthlong hiatus without a cold open. Instead of a funny satirical sketch, the NBC variety show chose to present a powerful tribute to the country of Ukraine. The tribute follows Russia launching an unprecedented military assault on the country earlier this week. The
Continue Reading By Frank Pallotta, CNN Business “Saturday Night Live” returned from a nearly monthlong hiatus without a cold open. Instead of a funny satirical sketch, the NBC variety show chose to present a powerful tribute to the country of Ukraine. The tribute follows Russia launching an unprecedented military assault on the country earlier this week. The
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By Ramishah Maruf, CNN YouTube said Saturday that it will temporarily halt the ability of a number of Russian channels, including state-sponsored RT, to monetize their content on the platform. It will also be “significantly limiting” recommendations to those channels, YouTube said in a statement. The company said the channels are affiliated with recent sanctions,
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By Chris Isidore, CNN Business Russia isn’t a superpower, at least not when it comes to the global economy. Its gross domestic product puts it as only the 12th largest economy in the world according to the International Monetary Fund, about 25% smaller than Italy and more than 20% smaller than Canada, two countries with
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By Brian Stelter, CNN Business Chris Licht, the producer who created “Morning Joe,” revamped “CBS This Morning” and revitalized “The Late Show with Stephen Colbert,” has been selected to run CNN once Discovery merges with WarnerMedia this spring, according to three sources with knowledge of the plan. The parties involved have not yet commented on
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By Jon Sarlin, CNN Business Bitcoin is a pollution-creating mess. Despite efforts to make the energy-intensive mining process friendlier to the environment, it has grown significantly more reliant on fossil fuels over the past year. China’s cryptocurrency mining ban in the spring of 2021 significantly worsened Bitcoin’s environmental impact, according to a new research on
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By Michelle Toh, CNN Business Cryptocurrency prices are climbing after Russia’s ruble sank to another record low and Moscow was hit with new sanctions. As of 5:25 a.m. ET on Tuesday, bitcoin had jumped 13% over the last 24 hours to $43,163, according to cryptocurrency tracker CoinDesk. Other cryptocurrencies moved higher, too. Ethereum climbed 10%
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By Clare Duffy and Brian Fung, CNN Business Ukraine’s official Twitter account wants @Russia to be removed from the platform. YouTube is facing scrutiny for allowing a Russian broadcaster who is widely viewed as part of the country’s propaganda machine to continue making money from ads on the video site. And TikTok, a service that
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By Paul R. La Monica, CNN Business Warren Buffett’s Berkshire Hathaway reported a nearly $40 billion profit in the fourth quarter, up more than 10% from the same period of 2020. Profits more than doubled for the full year, to just shy of $90 billion. Operating earnings, Buffett’s preferred measure of profitability, soared 45% in
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By Jordan Valinsky, CNN Business It doesn’t matter where you go: Fast-food hamburgers almost uniformly look like the same round, flat patties. Except for Wendy’s, which has square burgers. The reason for the outlier four-sided shape can be traced back to Wendy’s founder Dave Thomas. In 1969, he opened the first Wendy’s in Columbus, Ohio,
Continue Reading By Alicia Wallace, CNN Business The grocery run, the fuel-up and the utility bill are all costing more these days — not to mention the surging home prices and rising rents. But a trip to the neighborhood dispensary might not elicit similar feelings of sticker shock. While Americans have seen prices climb across most of
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