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By Anna Cooban, CNN Business Global fossil fuel emissions are expected to peak in 2025 as countries commit huge sums of money toward low-carbon fuels, according to the International Energy Agency (IEA). In its annual World Energy Outlook report, published Thursday, the agency said that Russia’s assault on Ukraine had the potential to “hasten” the

By Nicole Goodkind, CNN Business Tech stocks are taking a beating this week as they prove less resilient to the economic downturn than investors had hoped they would be. What’s Happening: Dreary earnings results from Google parent company Alphabet and Microsoft weighed down markets on Wednesday, showing how this year’s $5.5 trillion selloff has not

By Hanna Ziady, CNN Business Shell will buy back $4 billion worth of shares and increase its dividend by 15% after posting another gigantic quarterly profit thanks to strong oil and gas prices. The UK company posted net income of $9.45 billion in the third quarter, more than double the $4.1 billion it recorded a

By Julia Horowitz, CNN Business Credit Suisse will raise $4 billion to step back from Wall Street and double down on managing the finances of the world’s wealthy, the scandal-plagued Swiss bank said on Thursday. The company unveiled a “radical” turnaround plan that it said would leave it “a stronger, more resilient and more efficient

By Jessie Yeung and Kocha Olarn, CNN A Thai media tycoon and transgender rights advocate has bought the Miss Universe Organization for $20 million, according to her company, which will now host the international beauty pageant. Anne Jakkaphong Jakrajutatip is the CEO of JKN Global Group PCL, a Thailand-based media distribution company, though she’s perhaps

By Oliver Darcy, CNN Business “Unsettling.” That’s the sort of news CNN staffers had delivered to their inboxes at 1pm ET on Wednesday when network boss Chris Licht candidly informed them that sweeping changes are imminent. In other words, brace for layoffs by the end of the year. Licht, who has been conducting a business

Alexandra Peers, CNN A roar of corporate earnings came out this week and last, and the information piling up from the backbone-of-American-buyers companies like Coca-Cola, Mattel, GM, Hilton, American Express offers a fuller picture of what’s going on in this country than we’ve had in the past. Amid a nearly international consensus that America is

By Rob McLean, CNN Business Athletic shoe company Skechers said in a statement Wednesday that two of its executives escorted embattled musician Kanye West from one of its Los Angeles buildings. The company said West, who has legally changed his name to Ye, “arrived unannounced and without invitation.” It said he was engaged in “unauthorized

By Matt McFarland, CNN Business Ford and Volkswagen, two of the world’s largest automakers, are shutting down their joint effort to develop self-driving cars, the startup Argo AI. Ford said Wednesday that it had concluded that the large-scale profitable commercialization of self-driving cars was further out then expected. The company is still “optimistic” about a

By Parija Kavilanz, CNN Business The list of companies cutting ties with artist and designer Ye following a series of antisemitic remarks continues to grow, with TJ Maxx boycotting the apparel line, the retailer announced Wednesday. The decision follows similar moves by Gap and Foot Locker to pull Yeezy merchandise from their stores. Gap said

By Chris Isidore and Vanessa Yurkevich, CNN Business Rank and file members of another railroad union have rejected a tentative labor deal, a move that further raises the odds that America’s freight railroad workers will go on strike sometime next month. The Brotherhood of Railroad Signalmen voted against September’s tentative agreement, according to results announced

By Peter Valdes-Dapena, CNN Business General Motors makes a big deal out of the Ultium battery technology underpinning its new and upcoming electric vehicles like the Cadillac Lyriq, GMC Hummer EV and the Chevrolet Silverado EV pickup. But the GM EV that’s a hit with customers right now is, ironically, the Bolt, a model that