Money

By Matt Egan, CNN Business Grocery store prices will probably stay elevated this year, according to economists at Goldman Sachs, continuing a Covid trend that has contributed to the high cost of living. In a report to clients on Monday night, Goldman Sachs projected the food-at-home category of the consumer price index will increase by

By Ivana Kottasová and Charles Riley, CNN Business President Joe Biden said Monday that natural gas will not flow through Russia’s Nord Stream 2 pipeline to Germany if Moscow orders an invasion of Ukraine. What does an $11 billion undersea pipeline between Russia and Germany have to do with Ukraine? And why is it such

By Julia Horowitz, CNN Business Politicians are under huge pressure to fight inflation as a rapid uptick in prices hits consumers’ wallets and offsets wage hikes. That could fuel a tougher stance from regulators on mergers, as leaders like US President Joe Biden try to show they’re on the side of anxious voters. “This administration,

By Paul R. La Monica, CNN Business Pfizer’s sales in the fourth quarter more than doubled, thanks to strong demand for its Covid-19 vaccine. But that wasn’t good enough to satisfy investors. The drugmaker said it posted revenue of $23.8 billion, missing Wall Street’s expectations of $24.1 billion. More than half of Pfizer’s total sales,

By Jordan Valinsky, CNN Business Peloton is replacing embattled CEO John Foley and cutting about 20% of its workforce to help reinvigorate the flailing fitness company. Barry McCarthy, the former chief financial officer of Spotify and Netflix, will become its CEO and president, effective Wednesday. Foley will become the company’s executive chair, and wrote in

By Parija Kavilanz, CNN Business Loan Nguyen is a new mom living in a constant state of anxiety. For the past several weeks, following the premature birth of her twins, Maxine and Lawrence, Nguyen has spent hours every day searching the internet or making phone calls trying to find more baby formula to buy for

By Mark Thompson, CNN Business News that Britain’s biggest oil companies made $32 billion in profit last year is stoking calls for the UK government to impose a temporary tax on their earnings to help households pay soaring energy bills. Reporting earnings on Tuesday, BP posted an annual profit of almost $12.9 billion. Shell reported

By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Through my coverage of various media industry scandals over the years, and through my first-hand experience with a few of them, I can confidently say this: The scandals are more