By Anneken Tappe, CNN Business America’s economic recovery from the historic shock of the pandemic has been nothing short of extraordinary. However, consumers are feeling disparaged as they struggle with rising prices on everything from garden furniture and groceries to gas. Home prices have gone through the roof but with the Federal Reserve raising interest
Continue Reading Opinion by Matthew F. Ferraro for CNN Business Perspectives Last month, a false video circulated online that seemed to show Ukrainian President Volodymyr Zelensky telling his soldiers to surrender to the Russian invasion. The video — a mediocre lip-sync of Zelensky’s face and voice — was the product of artificial intelligence manipulation, commonly known as
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By Reuters Russian energy giant Gazprom said on Friday it was exiting its business in Germany, amid a dispute between the two countries over Moscow’s insistence on switching payments for Russian gas to rubles from euros. It was not immediately clear how the move would affect the supply of Russian gas, on which Germany depends
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By Paul R. La Monica, CNN Business The “apes” bullish on GameStop may soon be able to buy their favorite stock at a much lower price. The meme darling of the Reddit crowd wants to initiate a stock split, a move that will drastically reduce the cost of one share, the company said late Thursday
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By Sara Ashley O’Brien, CNN Business Amazon warehouse workers at a facility in New York City have voted to form the first US union in the tech giant’s 27-year history, marking a stunning victory for a bootstrapped effort led by a fired employee. In a closely watched election, workers at a Staten Island, New York,
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By Chris Isidore, CNN Business A House committee will investigate how Amazon treats its workers, following the death of six employees in December when the distribution center they were working in was struck by a tornado. The House Oversight Committee sent a letter to Amazon CEO Andy Jassy Thursday demanding documents about company practices. It
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By Jeanne Sahadi, CNN Business Curious about cryptocurrencies? Some employers may soon offer you the option to invest in bitcoin and other digital currencies through your 401(k). There is increasing discussion at financial service firms about how they could best provide a relatively safe crypto option in 401(k)s and other employer-sponsored retirement plans. For instance,
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By Julia Horowitz, CNN Business The epicenter of the latest effort to raise money for Ukraine was a bare-bones office above a bakery in north London. Isaac Kamlish, Nathan Cohen and Isaac Bentata — ages 23 to 25 — gathered around their laptops earlier this week and helped launch the first-ever sale of one-of-a-kind digital
Continue Reading By Julia Horowitz, CNN Business The epicenter of the latest effort to raise money for Ukraine was a bare-bones office above a bakery in north London. Isaac Kamlish, Nathan Cohen and Isaac Bentata — ages 23 to 25 — gathered around their laptops earlier this week and helped launch the first-ever sale of one-of-a-kind digital
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By Mark Thompson, CNN Business Vladimir Putin’s deadline has come and gone and Russian natural gas is still flowing to Europe. The Russian president delivered an ultimatum Thursday to “unfriendly” nations to pay for their energy in rubles starting April 1 or risk being cut off from vital supplies. Was that a bluff? It’s too
Continue Reading By Mark Thompson, CNN Business Vladimir Putin’s deadline has come and gone and Russian natural gas is still flowing to Europe. The Russian president delivered an ultimatum Thursday to “unfriendly” nations to pay for their energy in rubles starting April 1 or risk being cut off from vital supplies. Was that a bluff? It’s too
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By Julia Horowitz, CNN Business The US stock market just logged its most tumultuous quarter since the start of the pandemic, as rising inflation and Russia’s invasion of Ukraine spooked investors and encouraged companies to think twice about pursuing mergers or Wall Street debuts. What’s happening: The S&P 500 fell almost 5% between January and
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By Anna Cooban, CNN Business Britons were hit Friday by a huge rise in energy bills, compounding the country’s worst cost-of-living crisis in decades. About 22 million households will see their annual bills soar to about £2,000 ($2,626) after the UK’s energy regulator lifted its price cap by 54% — the biggest jump since it
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By Anneken Tappe, CNN Business America’s labor market is roaring back, adding another 431,000 jobs in March and bringing the unemployment rate to a new pandemic-era low of 3.6%, the Bureau of Labor Statistics reported Friday. Prior to the pandemic, the jobless rate was at 3.5%, matching the near 50-year low first set in 2019.
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By Laura He, CNN Business China’s strict lockdown in Shanghai is heaping even more pressure on global supply chains. On Friday, Shanghai extended restrictions in many parts of the city, which is home to China’s financial hub and one of the world’s busiest ports. The Port of Shanghai had already been suffering from major holdups,
Continue Reading By Laura He, CNN Business China’s strict lockdown in Shanghai is heaping even more pressure on global supply chains. On Friday, Shanghai extended restrictions in many parts of the city, which is home to China’s financial hub and one of the world’s busiest ports. The Port of Shanghai had already been suffering from major holdups,
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By Michelle Toh, CNN Business China and Europe’s top leaders are set to meet on Friday, as their vast and growing trade relationship threatens to be overshadowed by differences over Russia and other geopolitical tensions. At the virtual EU-China summit, Beijing is expected to face pressure from one of its top trading partners over the
Continue Reading By Michelle Toh, CNN Business China and Europe’s top leaders are set to meet on Friday, as their vast and growing trade relationship threatens to be overshadowed by differences over Russia and other geopolitical tensions. At the virtual EU-China summit, Beijing is expected to face pressure from one of its top trading partners over the
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By Peter Valdes-Dapena, CNN Business The Toyota Corolla became world’s best-selling car mostly because it’s inexpensive, efficient and practical. Exciting? Maybe not that. Over the decades — the Corolla model has been in production since 1966 — there have been some fun, high-performance versions of the compact car, though. On Thursday night in Long Beach,
Continue Reading By Peter Valdes-Dapena, CNN Business The Toyota Corolla became world’s best-selling car mostly because it’s inexpensive, efficient and practical. Exciting? Maybe not that. Over the decades — the Corolla model has been in production since 1966 — there have been some fun, high-performance versions of the compact car, though. On Thursday night in Long Beach,
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