By Mark Thompson, CNN Business Europe has given itself just five years to break its addiction to Russian oil and gas. European Commission President Ursula von der Leyen said Friday that EU leaders had agreed to spend the next two months drafting proposals for eliminating the bloc’s dependency on Russian energy imports by 2027. “By
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By Clare Duffy, CNN Business Russia’s Investigative Committee has opened a criminal case against Facebook parent company Meta Platforms accusing the company’s employees of “illegal calls for murder and violence” against Russian citizens, according to a statement the committee published Friday. The case follows a temporary change to Meta’s hate speech policy that allows some
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By Samantha Murphy Kelly, CNN Business Instagram is bringing back a version of its news feed that sorts posts in reverse chronological order rather than ranked according to the platform’s algorithms. However, the company said it will leave its algorithm ranking method on by default. The new option, which rolls out to users globally on
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Catherine Thorbecke, CNN Business As technology continues to revolutionize the way people live, work and spend, central banks around the globe have kicked off efforts to reinvent their local currencies for the digital era. Now, the United States is the latest to signal “urgency” in researching a potential digital version of its dollar via a
Continue Reading Catherine Thorbecke, CNN Business As technology continues to revolutionize the way people live, work and spend, central banks around the globe have kicked off efforts to reinvent their local currencies for the digital era. Now, the United States is the latest to signal “urgency” in researching a potential digital version of its dollar via a
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By Beth Braverman You probably already know that you need a good credit score to get the best interest rates on a mortgage or auto loan, which can make a big difference to your budget over time. “With something like a mortgage, even a minor difference in rates can have a big impact on your
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Opinion by Elaine Maag for CNN Business Perspectives Over the past several months, consumer prices have risen across the board, especially for basic needs like food, gas and shelter. And low- and middle-income families are getting hit the hardest. Not only do they spend a larger share of their income meeting basic needs, they tend
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By Mark Thompson, CNN Business Russia’s richest businessman has warned the Kremlin against confiscating assets of companies that have fled in the wake of the invasion of Ukraine, saying such a step would set the country back more than 100 years. Vladimir Potanin, president of metals giant Norilsk Nickel and its biggest shareholder, said that
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By Julia Horowitz, CNN Business Europe’s reliance on energy from Russia has jacked up the odds that the region could enter a recession this year as soaring inflation pushes people to cut back spending. The United States is more insulated from the spike in oil and gas prices — but it’s not immune. What’s happening:
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By Tami Luhby, CNN Business The price of gas has skyrocketed in recent weeks, fueled in part by Russia’s invasion of Ukraine. The hike means that many Americans will have to shell out hundreds of dollars more to fill their tanks. Have you had to make changes to your daily routine, work or social life
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By Chris Isidore, CNN Business As Russia’s economy gets pummeled by increasingly severe western sanctions for its invasion of Ukraine, the country’s crucial airline industry could soon find itself on life support. Russian airlines have been essentially cut off from much of the world. But that is the least of the industry’s problems. Russia’s domestic
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By Charles Riley, CNN Business Goldman Sachs and JPMorgan Chase are the first major Western banks to get out of Russia following the invasion of Ukraine. More are likely to follow at a cost of tens of billions of dollars. Goldman Sachs said Thursday that it is “winding down its business in Russia in compliance
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By Laura He, CNN Business Popular Chinese tech stocks have plunged after the US regulator named five Chinese companies that could be removed from American stock markets for failing to meet audit requirements. The names cited by the US Securities and Exchange Commission on Thursday are fast-food company Yum China Holdings, tech firm ACM Research,
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Next year, people in Columbia may pay more in taxes when purchasing items online.
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By Anna Bahney, CNN Business Rents in Manhattan are once again hitting new record highs, after cratering during the pandemic. The median monthly rent for a Manhattan apartment was a record $3,700 in February. That was up 24% from a year ago and up an unusually large 4.2% from January, according to a report from
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By Rachel Metz, CNN Business In 2018, Magic Leap released an augmented reality headset that could show crisp, three-dimensional images as though they were right in front of you on a coffee table or living room floor. It was years in the making, and came after the company raised billions in funding — and it
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By Danielle Wiener-Bronner, CNN Business Burger King is the latest fast food chain to pull corporate support from its businesses in Russia. Restaurant Brands International, which owns the burger chain, said Thursday it “has suspended all of its corporate support for the Russian market, including operations, marketing and supply chain.” The company is also stopping
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By Mark Thompson, CNN Business Russia said it could seize the assets of Western companies that have suspended operations in the country. Dozens of American, European and Japanese companies from almost every sector of the economy have abandoned joint ventures, factories, stores and offices in the last two weeks in response to Russia’s invasion of
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By Paul R. La Monica, CNN Business So much for Wednesday’s big market rally. Stocks slid Thursday after the US government reported a significant spike in consumer prices. Inflation is clearly not going away, and that means the Federal Reserve is probably going to have to aggressively raise interest rates. The Dow dropped 112 points,
Continue Reading By Julia Horowitz, CNN Business Europe’s reliance on energy from Russia has jacked up the odds that the region could enter a recession this year as soaring inflation pushes people to cut back spending. The United States is more insulated from the spike in oil and gas prices — but it’s not immune. What’s happening:
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