Money

By Ramishah Maruf, CNN Business Elon Musk, the world’s richest man, said on Twitter Thursday that billionaires aren’t the bad guys. Musk tweeted that it is “morally wrong & dumb” to use the word billionaire as a pejorative if that person is using their wealth to create products that make “millions of people happy.” He

By Matt Egan, CNN Business Corporate America has said very little following this week’s Texas school shooting that left 21 people dead. Yale professor Jeff Sonnenfeld is calling out their silence. Sonnenfeld, a vocal advocate of corporate social responsibility, applauded Goldman Sachs CEO David Solomon for speaking up but said more is needed. “This voice

By Jeanne Sahadi, CNN Business Managing one’s finances in retirement is always tricky. But with inflation pushing up the price of everything from gas to housing to eggs, many retirees are cutting back or eliminating certain costs altogether. CNN Business spoke with several retirees about how they have been managing their spending as prices have

By Anneken Tappe, CNN Business Another key tracker of consumer prices took a breather in April, following in the footsteps of inflation indexes released earlier this month. Economists, the Federal Reserve, the Biden administration and the American people were all hopeful that March would prove to be the peak of the pandemic price hikes. The

By Nathaniel Meyersohn, CNN Business Some welcome news for shoppers getting squeezed by inflation: promotions on televisions, furniture, clothing, sporting goods and other big-ticket purchases are ramping up. Target, Walmart, Best Buy, Urban Outfitters and other top retailers have said in recent weeks that they are sitting on too much inventory for some of their

By Allison Morrow, CNN Business There’s little political risk in taxing hugely profitable oil companies to help consumers pay their exorbitant energy bills. But many economists are warning that such a tax could ultimately do more harm than good. See here: On Thursday, the UK slapped a 25% tax on the “extraordinary” profits of British

By David Goldman, CNN Business The manufacturer of a firearm used in the Robb Elementary School shooting said it will not attend the National Rifle Association convention Friday. “Daniel Defense is not attending the NRA meeting due to the horrifying tragedy in Uvalde, Texas, where one of our products was criminally misused,” said Steve Reed,

By Angela Dewan, CNN The G7, which represents the world’s biggest advanced economies, agreed on Friday to achieve “predominantly decarbonized” electricity sectors by 2035, a goal that experts say is a major step in helping the world avert catastrophic climate change. G7 climate, energy and environment ministers made the new pledge in a 40-page communiqué

By Julia Horowitz, CNN Business Wealth taxes are never a popular rallying cry at Davos, a playground for billionaires, corporate titans and top politicians. But Gabriela Bucher, the executive director of Oxfam International, was still frustrated that this week’s World Economic Forum mostly looked the other way. High energy prices are putting massive strain on