Money

By Matt Egan, CNN Business The surge in oil prices this year has angered drivers, tainted Americans’ views on the economy and confounded both the White House and Federal Reserve. Unfortunately, JPMorgan Chase says the oil spike is just getting started. In a new report on Monday, JPMorgan warned clients that Brent crude oil will

By David Goldman, CNN Business Here we go again. Federal Reserve Chairman Jerome Powell is set to testify Tuesday that the Omicron variant threatens America’s economic recovery. Much remains unknown about Omicron. Yet if it prolongs the pandemic, it could keep prices rising, hurt job growth and make the supply chain crisis worse. “The recent

By Chris Isidore, CNN Business Workers at the Amazon warehouse in Bessemer, Alabama, will have another chance to unionize after a federal labor official called for a new vote Monday. The ruling by a regional director of the National Labor Relations Board was made public Monday. It follows an earlier recommendation from an NLRB hearing

By Ramishah Maruf, CNN Business It’s going to cost more to spoil your True Love this year, according to PNC’s 38th annual Christmas Price Index. The index measures how much it will cost to purchase gifts from the classic holiday song, “The 12 Days of Christmas” — a holiday twist on the Bureau of Labor

By Paul R. La Monica, CNN Business So much for the house always winning. Casino stocks have had a brutal year. Penn National Gaming, which operates more than 40 US gambling locations, has plunged 40% this year. That makes Penn, which also owns a 36% stake in Dave Portnoy’s Barstool Sports betting and entertainment company,

By Frank Pallotta, CNN Business Tickets for “Spider-Man: No Way Home” overloaded ticket sites Monday. That’s great news for the box office. Fans complained on social media Monday that ticket sites such as AMC were backed up. This delayed them from getting advance tickets to the newest film featuring the web-slinging hero, which hits theaters

By Jeanne Sahadi, CNN Business Tax-free savings in retirement are great to have at your disposal. But provisions in the Build Back Better bill would limit some of the ways to accrue them in the future — at least for high-income savers. The provisions are included in the version of the bill that recently passed

By Reuters As global markets fell last week on news of the new Omicron coronavirus variant, one cryptocurrency with the same name soared after the Greek letter entered the investor lexicon. The price of the hitherto-obscure digital token, whose Twitter feed has little more than 1,000 followers, rose almost ten-fold from Friday to Monday morning

By Anneken Tappe, CNN Business Stocks made a comeback Monday, bouncing back from the steep selloff at the end of last week, when investors feared the Omicron Covid variant could disrupt the global economic rebound. Reports of the new Omicron variant of the coronavirus brought back memories of last summer when the fast-spreading Delta variant

By Paul R. La Monica, CNN Business Fears about the Omicron variant of Covid-19 rattled the world’s financial markets Friday and early Monday morning. But shares of the major coronavirus vaccine makers were getting a boost from the latest pandemic jitters. Moderna soared more than 20% during Black Friday’s abbreviated session of trading on Wall

By Peter Valdes-Dapena, CNN Business Bugatti, the French manufacturer of $3 million supercars, is over a century old. But now it faces what may be the most difficult maneuver it has ever had to carry out: transitioning to an electric future. The man now taking the wheel at Bugatti is Mate Rimac, a 33-year-old Bosnian-born

By Jordan Valinsky, CNN Business Fans have noticed that an episode of the Simpsons that features a scene in Tiananmen Square is missing from Disney+ in Hong Kong. In the 2005 episode “Goo Goo Gai Pan,” the family travels to China to adopt a baby. The Simpsons clan stops in Beijing’s Tiananmen Square where they

By Julia Horowitz, CNN Business Wall Street despises uncertainty. The less information investors have, the harder it is to make decisions about how to position for the future. Unfortunately, this is an example of peak ambiguity. Traders have been left in the lurch as the world rushes to respond to the discovery of the new