Money

By Reuters and Chris Liakos, CNN European countries on Tuesday raced to investigate unexplained leaks in two Russian gas pipelines running under the Baltic Sea near Sweden and Denmark, infrastructure at the heart of an energy crisis since Russia’s invasion of Ukraine. Several European officials said sabotage appeared to be the likely cause, while Russia

By Julia Horowitz, CNN Business The pound may have paused its headlong crash toward parity with the US dollar, but the damage to the UK economy sparked by Prime Minister Liz Truss’ huge tax-cutting gamble is still rippling through financial markets. Sterling stabilized early Tuesday to trade near $1.08, bouncing off Monday’s record low of

By Paul R. La Monica, CNN Business Fans of the cult classic movie “The Hudsucker Proxy” will remember that the main character kept describing his invention of the hula hoop as being, “you know, for kids.” But top toy companies are looking beyond the youth demographic this holiday season and plan to pitch more of

By Matt McFarland, CNN Business Hertz and BP plan to build a network of thousands of electric vehicle chargers in North America, the companies said Tuesday. Over the past year, the rental car behemoth has announced its intention to purchase hundreds of thousands of electric vehicles from various automakers. It has said that it aims

By Frank Pallotta, CNN Business It looks like “Don’t Worry Darling” didn’t have that much to worry about. The Warner Bros. film starring Florence Pugh generated a lot of off-screen drama due to a pretty wild press tour and behind the scenes gossip, but that didn’t seem to hurt its box office totals. The psychological

By Anna Cooban, CNN Business Millions of mortgage borrowers in the United Kingdom are bracing themselves for huge hikes to their monthly payments as a consequence of the run on the pound. Markets have been in turmoil since UK finance minister Kwasi Kwarteng announced the biggest tax cuts in 50 years on Friday, together with

By Anna Bahney, CNN Business New home sales bounced back in August despite high prices and rising mortgage rates that have pushed some buyers away. Sales of newly constructed homes jumped 28.8% in August from July and were down just 0.1% from a year ago, according to a joint report from the US Department of

Martha C. White for CNN Business Consumer confidence rose for a second straight month in September, as moderating gas prices and the hope that inflationary pressures might be easing helped lift the nation’s collective mood. The Conference Board reported on Tuesday that its baseline index rose to 108 from a revised 103.6 in August, the

By Nicole Goodkind, CNN Business So much for turnaround Tuesday on Wall Street. Stocks finished a volatile day mixed after rallying at the open. The Dow and S&P 500 are at their lowest levels since November 2020 and are both on a six-day losing streak. The Dow, which slid deeper into a bear market, fell