Money Archives

Amazon employee Isaiah Thomas speaks at a rally in support of a union for Amazon workers in Bessemer

Amazon union vote in Alabama is too close to call

March 31, 2022 12:39 PM CNN Newsource

By Sara Ashley O’Brien, CNN Business The results of a do-over vote for a milestone union election at an Amazon warehouse in Bessemer, Alabama, were too close to call on Thursday. A total of 875 workers at the Bessemer facility voted for joining a union and 993 voted against it, marking a much closer split

Seen here is an interior view of a gas-pressure station in Windhagen

Russia raises stakes in energy standoff by insisting on rubles for gas

March 31, 2022 12:21 PM CNN

By Mark Thompson and Chris Liakos, CNN Business Russia has doubled down on its threat to cut off natural gas supplies to Western countries that refuse to pay in rubles, raising new concerns about an energy supply crunch and rationing in Europe. Moscow said last week it wanted to be paid in rubles, rather than

Pictured is a pedestrian crosswalk button at an intersection in Santa Fe

Traffic safety crisis marked by spike in hit-and-run deaths

March 31, 2022 12:04 PM CNN Newsource

By Matt McFarland, CNN Business US roads saw the largest increase on record in deaths per mile traveled in 2020, including a 26% increase in hit-and-run fatalities that outpaced the increase in overall deaths. The National Highway Traffic Safety Administration released the data earlier this month. Hit-and-run deaths have grown steadily in the last 15

Russia raises stakes in energy standoff by insisting on rubles for gas

March 31, 2022 10:16 AM CNN Newsource

By Mark Thompson and Chris Liakos, CNN Business Russia has doubled down on its threat to cut off natural gas supplies to Western countries that refuse to pay in rubles, raising new concerns about an energy supply crunch and rationing in Europe. Moscow said last week it wanted to be paid in rubles, rather than

Bob Iger on opposing the ‘Don’t Say Gay’ bill: ‘It’s about right and wrong’

March 31, 2022 9:58 AM CNN Newsource

By Jordan Valinsky, CNN Business Former Disney CEO Bob Iger is breaking from his successor on Florida’s recently passed “Don’t Say Gay” law. Bob Chapek, Iger’s successor, initially opted not to speak out against the controversial law. But corporate executives should voice their opinions about ethical dilemmas, Iger recently told CNN+ host Chris Wallace. “A

Florida Gov. Ron DeSantis on Thursday signaled support for stripping Disney of its 55-year-old special status that allows the entertainment company to operate as an independent government around its Orlando-area theme park.

Ron DeSantis signals support for stripping Disney of special self-governing status as feud escalates

March 31, 2022 9:58 AM CNN

By Steve Contorno, CNN Florida Gov. Ron DeSantis on Thursday signaled support for stripping Disney of its 55-year-old special status that allows the entertainment company to operate as an independent government around its Orlando-area theme park. It’s the latest fallout in the feud between DeSantis, a Republican widely seen as a potential 2024 presidential contender,

The New Shepard Blue Origin rocket lifts off from the launch pad carrying Jeff Bezos in Van Horn

Blue Origin successfully completes fourth space tourism mission

March 31, 2022 9:40 AM CNN

By Jackie Wattles, CNN Business Jeff Bezos’ Blue Origin just launched its fourth successful space tourism mission, putting yet another feather in the cap of the company that hopes to make these supersonic joyrides a mainstay of pop culture. The six passengers, which include a Blue Origin engineer and five paying customers, boarded their New

Seen here is the Applebee's Times Square branch in New York City in October 2020. Restaurants like Applebee's are focusing on value as they raise prices.

How restaurants charge more but make you feel like you’re getting a bargain

March 31, 2022 9:16 AM CNN Newsource

By Danielle Wiener-Bronner, CNN Business Restaurants are raising menu prices as wages grow and inflation hits ingredients and packaging. But they still want customers to feel like they’re getting a good deal. That’s a tricky proposal, especially for fast food, fast casual and casual dining restaurants — places where low prices are part of the

A For Sale sign is displayed in front of a house in Washington

Mortgage rates climb above 4.6%

March 31, 2022 9:13 AM CNN Newsource

By Anna Bahney, CNN Business Mortgage rates rose again this week as the conflict in Ukraine and rising inflation continued to weigh on the US economy. The 30-year fixed-rate mortgage averaged 4.67% in the week ending March 31, up from 4.42% the week before, according to Freddie Mac. Rates climbed in the face of rising

People shop at a home improvement store in Bethesda

The Fed’s favorite inflation measure ticked even higher last month

March 31, 2022 8:06 AM CNN Newsource

By Anneken Tappe, CNN Business America’s inflation problem didn’t abate in February, as another key price measure rose to a 40-year high. The Personal Consumption Expenditures price index rose 6.4% in February from the same period a year earlier. It was the fastest increase since January 1982, the Bureau of Economic Analysis reported Thursday. Stripping

Germany's economy minister Robert Habeck

Germans ‘will be poorer’ because of the war in Ukraine

March 31, 2022 7:55 AM CNN

By Anna Cooban, CNN Business Germany “will be poorer” because of Russia’s assault on Ukraine, the government’s economy minister has warned, as soaring energy prices fuel record inflation and threaten to tip Europe’s biggest economy into a recession. “It is not possible that this ends without costs for German society, it is unthinkable,” Robert Habeck

Germans ‘will be poorer’ because of the war in Ukraine

March 31, 2022 7:55 AM CNN Newsource

By Anna Cooban, CNN Business Germany “will be poorer” because of Russia’s assault on Ukraine, the government’s economy minister has warned, as soaring energy prices fuel record inflation and threaten to tip Europe’s biggest economy into a recession. “It is not possible that this ends without costs for German society, it is unthinkable,” Robert Habeck

A driver holds a fuel nozzle at a Shell gas station in Hercules

Biden’s oil reserve plan only covers a third of Russia’s shortfall

March 31, 2022 7:11 AM CNN Newsource

By Julia Horowitz, CNN Business Oil prices are pulling back sharply as investors gear up for the White House to potentially unleash a record amount of crude from US reserves in a bid to ease pressure at the pump following Russia’s invasion of Ukraine. What’s happening: President Joe Biden is weighing a plan to release

The currency exchange rates of the U.S. Dollar and Euro to the Russian Ruble are displayed outside a bank in Moscow

Putin’s plan to prop up the ruble is working. For now

March 31, 2022 6:53 AM CNN

By Charles Riley, CNN Business The barrage of sanctions imposed by the West following Russia’s invasion of Ukraine decimated the ruble. But one month after the tanks rolled, the currency has made a full recovery and is now trading at levels seen prior to the war. How is that possible? Russia’s central bank has taken

A man speaks with a woman about openings at a bakery during a job fair in Melville

The next phase of the US jobs recovery has begun

March 31, 2022 6:49 AM CNN Newsource

By Anneken Tappe, CNN Business The US jobs market has come a long way since the worst days of the pandemic when more than 20 million Americans lost their jobs. Now the recovery is moving into a new phase — one that will likely be slower. For Friday’s March jobs report, economists polled by Refinitiv

A rendering shows an Ariane 6 rocket. Amazon has secured 18 Ariane 6 rockets with Arianespace

Amazon announces huge rocket deal to launch its satellite internet constellation

March 31, 2022 6:41 AM CNN

By Jackie Wattles, CNN Business Amazon is moving its business into the exosphere, with plans to deploy more than 3,000 satellites to beam internet connectivity all over the planet. On Tuesday, the company announced deals with three rocket companies that will launch those satellites. The agreement includes two veteran rocket builders — United Launch Alliance,

Blue Origin successfully completes fourth space tourism mission

March 31, 2022 6:41 AM CNN Newsource

By Jackie Wattles, CNN Business Jeff Bezos’ Blue Origin just launched its fourth successful space tourism mission, putting yet another feather in the cap of the company that hopes to make these supersonic joyrides a mainstay of pop culture. The six passengers, which include a Blue Origin engineer and five paying customers, boarded their New

A home under construction stands across from a completed home at a housing development on March 23 in Petaluma

America’s home builders are getting squeezed by the war in Ukraine. Here’s how

March 31, 2022 5:57 AM CNN Newsource

By Alicia Wallace, CNN Business For the past few years, developer and home builder Estridge Homes could bank on the price quotes it received for asphalt holding steady for at least nine months. That window is now 15 days. For many home builders, supply chain disruptions from the pandemic have meant garage doors are on

Putin’s plan to prop up the ruble is working. For now

March 31, 2022 5:54 AM CNN Newsource

By Charles Riley, CNN Business The barrage of sanctions imposed by the West following Russia’s invasion of Ukraine decimated the ruble. But one month after the tanks rolled, the currency has made a full recovery and is now trading at levels seen prior to the war. How is that possible? Russia’s central bank has taken

A distributor delivers fuel to a Shell gas station in Hercules

Here’s when you’ll get some relief from high energy prices

March 31, 2022 5:31 AM CNN Newsource

By Matt Egan, CNN Business Oil prices will probably stay near triple-digits and could even spike to $150 a barrel if the war in Ukraine severely disrupts Russia’s energy supplies, Joe McMonigle, the secretary general of the International Energy Forum, told CNN. McMonigle, whose organization serves as a go-between for energy consuming countries like India,