Money

By Paul R. La Monica, CNN Business Investors have learned a bunch of hard lessons so far in 2022. The stock market doesn’t always go up. And factors such as the economy, earnings and valuations, which might sound like quaint relics of a bygone era, still matter even in a world seemingly dominated by memes

By Jordan Valinsky, CNN Business Roughly 100 Sears Hometown locations are permanently closing in the coming weeks, representing roughly half of its remaining retail footprint. The closures were announced on each individual store’s Facebook page rather than a single press release. The locations are spread over about 30 US states, according to multiple reports. “Unfortunately

By Nathaniel Meyersohn, CNN Business A shakeup may be in the works at Unilever, the consumer goods giant behind brands like Dove soap, Hellmann’s mayonnaise and Vaseline. Unilever announced Monday that Nelson Peltz, one of the most influential corporate raiders on Wall Street, will join the company’s board of directors and disclosed that Peltz’s fund

By Alicia Wallace, CNN Business Inflation may be showing signs that it’s easing, but the high-cost environment still has American consumers wary about the direction of the economy. The Conference Board’s consumer confidence index dipped slightly to 106.4 in May, down from a revised 108.6 in April, according to data released Tuesday. The decline was

By Matt Egan, CNN President Joe Biden plans to discuss high inflation in a meeting on Tuesday with Federal Reserve Chairman Jerome Powell, a White House official tells CNN. Biden is scheduled to meet with Powell at a time when prices are rising rapidly on everything from gasoline and food to housing. The president plans

By Niamh Kennedy, CNN The European Union has agreed on a partial ban on Russian oil imports, according to European Council chief Charles Michel. “Agreement to ban export of Russian oil to the EU. This immediately covers more than 2/3 of oil imports from Russia, cutting a huge source of financing for its war machine,”

By Anna Cooban, CNN Business Denmark and the Netherlands could become the latest European countries to have their deliveries of Russia’s natural gas cut off. On Monday, Danish energy company Ørsted and Dutch gas trading firm GasTerra warned Russia could turn off the taps as soon as Tuesday because they had refused to make payments

By Matt Egan, CNN Millions of Americans traveling this holiday weekend are being greeted by unprecedented prices at the gas pump. The national average for regular gasoline rose to a fresh record of $4.62 a gallon on Monday, according to AAA. That’s up by a penny from Sunday and 44 cents more expensive than a

By Anna Bahney, CNN Business The pandemic changed the way people lived and, for many, where they lived. Working from home was a significant driver of this “Great Reshuffling” and accounted for more than half of the steep increases in home prices seen during the pandemic, new research has found. Remote work allowed some people