Money

By Matt Egan and Charles Riley, CNN Business Oil prices surged above $100 per barrel after Russia launched an invasion of Ukraine, piling pressure on a global economy already reeling from rampant inflation. Brent crude, the global benchmark, added 8.5% to trade at $105.40 per barrel by 5:30 a.m. ET on Thursday. Brent last traded

By Paul R. La Monica, CNN Business Wall Street’s attempt for a Wednesday rally failed, with stocks closing broadly lower on continued worries about the likelihood of an imminent invasion of Ukraine by Russia. The Dow closed down more than 464 points, or 1.4%, after opening the session higher. It was a broad-based slide, with

By Paul R. La Monica, CNN Business The Federal Reserve is going to raise interest rates at its next meeting on March 16 to try to put a lid on inflation. That much we know. The only question is whether the Fed will boost rates by a quarter of a percentage point or a half-point.

By Parija Kavilanz, CNN Business The wait has ended. Yeezy Gap revealed the first look at its highly anticipated collaboration with fashion powerhouse brand Balenciaga. The 25-piece collection includes a denim jacket paired with jeans, logo tees and hoodies, with some of the items featuring a dove motif representing “hope.” Eight of the items went

By Matt Egan and Brian Fung, CNN Business The controversial Trump SPAC surged near record highs on Tuesday after former President Donald Trump’s social media app debuted atop Apple’s App Store — even as the launch was marked with a flurry of one-star ratings, technical-support complaints and a massive waiting list. Digital World Acquisition Corporation,

By Jordan Valinsky, CNN Business Pepsi is putting a whole new meaning into the soft drink. In what the company describes its “most ambitious feat yet,” PepsiCo announced Wednesday a first-of-its-kind nitrogen-infused cola that has a creamier and smoother taste compared to traditional carbonated sodas. The beverage, called Nitro Pepsi, is being released in the

By Jordan Valinsky, CNN Business Delivery is a shopper’s dream — but it’s an expensive hassle for businesses, even for mega-corporations like Target. So stores are trying to entice shoppers to split the baby: Come to the store and someone will deliver the items … to your car. To persuade customers to do that, Target

By Charles Riley, CNN Business Barclays is withholding shares worth as much as $29 million from former CEO Jes Staley, pending the outcome of an investigation by British banking regulators into his relationship with Jeffrey Epstein. The bank said in its annual report published on Wednesday that it has suspended bonus and share payments to

By Matt Egan, CNN Business The decision by Germany to halt the certification of Nord Stream 2 underscores the critical role US natural gas can play on the world stage, former top energy regulator Neil Chatterjee told CNN on Tuesday. “We are a gas superpower. We just need to be able to get it out