By Jennifer Korn, Pete Muntean and Gregory Wallace, CNN The Russian invasion of Ukraine has already killed hundreds, sent thousands of refugees fleeing, and sent ripples throughout the entire world. With closed airspaces in and around the conflict leaving some stranded and flights rerouted, impending fuel price jumps, airlines and countries cutting off Russia and
Continue Reading
By Brian Fung, CNN Business The Federal Communications Commission is on the hunt for companies it oversees that may have ownership ties to Russia, in a prelude to possible clampdowns following Russia’s invasion of Ukraine. The internal assessment, which has not been previously reported or publicly announced, was launched this week by FCC Chairwoman Jessica
Continue Reading By Brian Fung, CNN Business The Federal Communications Commission is on the hunt for companies it oversees that may have ownership ties to Russia, in a prelude to possible clampdowns following Russia’s invasion of Ukraine. The internal assessment, which has not been previously reported or publicly announced, was launched this week by FCC Chairwoman Jessica
Continue Reading
By Brian Fung, CNN Business Facebook, Twitter and YouTube are all taking tougher stances on content from Russian state media amid intensifying pressure from European officials for the Big Tech platforms to act against pro-Russian propaganda and address the escalating information war in Ukraine and across the internet. But there are concerns that cracking down
Continue Reading
By Brian Fung, CNN Business The Russian government moved to “partially restrict” Facebook access in the country on Friday after Russia’s ministry of communications accused the social network of unlawful censorship. In a statement, ministry officials said Facebook had committed human rights violations and “violated the rights and freedoms of Russian citizens” when the social
Continue Reading
By Chris Isidore, CNN Business Tesla CEO Elon Musk and his brother are under investigation by the Securities and Exchange Commission for possibly violating insider trading rules, according to media reports. The Wall Street Journal, citing unnamed people familiar with the probe, said the investor watchdog agency is looking into sales of Tesla shares by
Continue Reading
By Jordan Valinsky, CNN Business Foot Locker’s stock tumbled 35% Friday after the shoe store predicted sales and profit would fall sharply this year. The culprit: Nike. The retailer, which didn’t explicitly mention Nike in its earnings report, said Friday that no single supplier is expected to account for more than about 60% of its
Continue Reading
By Anna Bahney, CNN Business Even as home prices have skyrocketed during the pandemic, homeownership continues to grow. But the rate of home buying has not increased at the same pace for all Americans, according to a new report from the National Association of Realtors. More Americans own a home now than in any year
Continue Reading
By Sara Ashley O’Brien, CNN Business In the early days of the pandemic, as households around the country went into lockdown, shoppers for Instacart had a seemingly limitless amount of grocery orders to fulfill. Their earnings were, at times, bolstered significantly by generous tips in recognition of the personal health risk workers were taking. But
Continue Reading
Opinion by Gad Levanon for CNN Business Perspectives Over the past 12 months, US consumer prices rose by 7.5%, the highest rate in nearly 40 years. Worse, inflation is showing no signs of slowing. The Federal Reserve typically fights inflation by raising interest rates, which slows the economy by reducing the demand for goods and
Continue Reading
By Anneken Tappe, CNN Business Yet another key measure of inflation ticked higher at the start of the year, rising at its fastest pace in nearly 40 years. The price index tracking consumer spending increased by 6.1% between January 2021 and January 2022, according to new data from the Commerce Department released Friday. That was
Continue Reading By Anneken Tappe, CNN Business Yet another key measure of inflation ticked higher at the start of the year, rising at its fastest pace in nearly 40 years. The price index tracking consumer spending increased by 6.1% between January 2021 and January 2022, according to new data from the Commerce Department released Friday. That was
Continue Reading
By Julia Horowitz, CNN Business The West has not gone after Russian oil. But nervous traders have decided they still don’t want to touch it, jolting the global energy market at a delicate moment. The main grade of oil that Russia exports into Europe is now being offered for sale at a hefty discount, signaling
Continue Reading
By Jordan Valinsky, CNN Business Chicken nuggets have fallen victim to rising prices. Burger King’s largest franchisee in the United States said Thursday that it will soon reduce the number of nuggets in meals from ten pieces to 8. Carrols Restaurant Group, which operates 14% of Burger Kings’ roughly 7,000 US locations, told investors Thursday
Continue Reading
By Chris Liakos, CNN Business Two of the world’s biggest container shipping companies are halting cargo bookings to and from Russia. “As the stability and safety of our operations is already being directly and indirectly impacted by sanctions, new Maersk bookings to and from Russia will be temporarily suspended, with exception of foodstuffs, medical and
Continue Reading
By Jordan Valinsky, CNN Business International companies that hold a major presence in Russia are bracing for more sanctions from Western countries. Russia has already paid a price for its aggression: the country’s stock markets and currency have tanked this week after President Vladimir Putin ordered troops into Ukraine. Sanctions from the United States and
Continue Reading By Jordan Valinsky, CNN Business International companies that hold a major presence in Russia are bracing for more sanctions from Western countries. Russia has already paid a price for its aggression: the country’s stock markets and currency have tanked this week after President Vladimir Putin ordered troops into Ukraine. Sanctions from the United States and
Continue Reading
By Laura He, CNN Business China has relaxed restrictions on imports of Russian wheat, a move that could address food security concerns in the world’s second largest economy and ease the impact of Western sanctions on Russia. The decision to allow imports of wheat from all regions of Russia was made during Russian President Vladimir
Continue Reading
By Chris Isidore, CNN Business Russia’s invasion of Ukraine has sent oil futures above $100 a barrel for the first time since 2014 and will probably bring $4-a-gallon gasoline to much of the United States. But it won’t be a major drag on US economic growth. Economists project that at most the nation’s gross domestic
Continue Reading
By Mark Thompson, CNN Business British Airways has suspended its flights to Moscow after Russia banned all UK carriers from its airspace. Russia’s Federal Agency for Air Transport said in a statement Friday that it was banning UK registered flights, as well as aircraft owned, leased or operated by a person associated with the United
Continue Reading