Money Archives

Germany's economy minister Robert Habeck

Germans ‘will be poorer’ because of the war in Ukraine

March 31, 2022 7:55 AM CNN Newsource

By Anna Cooban, CNN Business Germany “will be poorer” because of Russia’s assault on Ukraine, the government’s economy minister has warned, as soaring energy prices fuel record inflation and threaten to tip Europe’s biggest economy into a recession. “It is not possible that this ends without costs for German society, it is unthinkable,” Robert Habeck

A driver holds a fuel nozzle at a Shell gas station in Hercules

Biden’s oil reserve plan only covers a third of Russia’s shortfall

March 31, 2022 7:11 AM CNN Newsource

By Julia Horowitz, CNN Business Oil prices are pulling back sharply as investors gear up for the White House to potentially unleash a record amount of crude from US reserves in a bid to ease pressure at the pump following Russia’s invasion of Ukraine. What’s happening: President Joe Biden is weighing a plan to release

The currency exchange rates of the U.S. Dollar and Euro to the Russian Ruble are displayed outside a bank in Moscow

Putin’s plan to prop up the ruble is working. For now

March 31, 2022 6:53 AM CNN

By Charles Riley, CNN Business The barrage of sanctions imposed by the West following Russia’s invasion of Ukraine decimated the ruble. But one month after the tanks rolled, the currency has made a full recovery and is now trading at levels seen prior to the war. How is that possible? Russia’s central bank has taken

A man speaks with a woman about openings at a bakery during a job fair in Melville

The next phase of the US jobs recovery has begun

March 31, 2022 6:49 AM CNN Newsource

By Anneken Tappe, CNN Business The US jobs market has come a long way since the worst days of the pandemic when more than 20 million Americans lost their jobs. Now the recovery is moving into a new phase — one that will likely be slower. For Friday’s March jobs report, economists polled by Refinitiv

The New Shepard Blue Origin rocket lifts off from the launch pad carrying Jeff Bezos in Van Horn

Blue Origin successfully completes fourth space tourism mission

March 31, 2022 6:41 AM CNN Newsource

By Jackie Wattles, CNN Business Jeff Bezos’ Blue Origin just launched its fourth successful space tourism mission, putting yet another feather in the cap of the company that hopes to make these supersonic joyrides a mainstay of pop culture. The six passengers, which include a Blue Origin engineer and five paying customers, boarded their New

A rendering shows an Ariane 6 rocket. Amazon has secured 18 Ariane 6 rockets with Arianespace

Amazon announces huge rocket deal to launch its satellite internet constellation

March 31, 2022 6:41 AM CNN

By Jackie Wattles, CNN Business Amazon is moving its business into the exosphere, with plans to deploy more than 3,000 satellites to beam internet connectivity all over the planet. On Tuesday, the company announced deals with three rocket companies that will launch those satellites. The agreement includes two veteran rocket builders — United Launch Alliance,

A home under construction stands across from a completed home at a housing development on March 23 in Petaluma

America’s home builders are getting squeezed by the war in Ukraine. Here’s how

March 31, 2022 5:57 AM CNN Newsource

By Alicia Wallace, CNN Business For the past few years, developer and home builder Estridge Homes could bank on the price quotes it received for asphalt holding steady for at least nine months. That window is now 15 days. For many home builders, supply chain disruptions from the pandemic have meant garage doors are on

Putin’s plan to prop up the ruble is working. For now

March 31, 2022 5:54 AM CNN Newsource

By Charles Riley, CNN Business The barrage of sanctions imposed by the West following Russia’s invasion of Ukraine decimated the ruble. But one month after the tanks rolled, the currency has made a full recovery and is now trading at levels seen prior to the war. How is that possible? Russia’s central bank has taken

A distributor delivers fuel to a Shell gas station in Hercules

Here’s when you’ll get some relief from high energy prices

March 31, 2022 5:31 AM CNN Newsource

By Matt Egan, CNN Business Oil prices will probably stay near triple-digits and could even spike to $150 a barrel if the war in Ukraine severely disrupts Russia’s energy supplies, Joe McMonigle, the secretary general of the International Energy Forum, told CNN. McMonigle, whose organization serves as a go-between for energy consuming countries like India,

Pandemic worsens staffing issues at children’s advocacy center

March 30, 2022 9:01 PM Leila Mitchell

The Rainbow House, a local 24-hour children’s shelter and advocacy center, has struggled for months with not enough staff to serve the children it helps.

Imagine having filed and paid your taxes last year

Talking taxes: preparing for next tax season

March 30, 2022 5:49 PM ABC 17 News Team

Experts explain about preparing for the next tax season.

The US housing market has been showing signs of exuberance for more than five consecutive quarters

Signs of a housing bubble are brewing

March 30, 2022 4:54 PM CNN Newsource

By Anna Bahney, CNN Business US home prices have soared to new heights and keep on climbing, and now some researchers and economists are saying they have seen signs of a housing bubble brewing. Home prices are rising faster than market forces would indicate they should and are becoming “unhinged from fundamentals,” according to a

Jones may have to pay fines that will start at $25

Judge holds Alex Jones in contempt of court for refusing to appear for Sandy Hook depositions

March 30, 2022 4:51 PM CNN Newsource

By Sonia Moghe, CNN A Connecticut judge is holding notorious conspiracy theorist Alex Jones in contempt of court after he failed to comply with multiple orders for Jones to sit for a deposition in a defamation suit brought against him by families of victims of the Sandy Hook shooting. The judge did, however, stop short

Senate votes to advance Alvaro Bedoya’s FTC confirmation

March 30, 2022 3:28 PM CNN

By Brian Fung, CNN Business One of President Joe Biden’s key administrative nominees is a step closer to confirmation after Alvaro Bedoya, Biden’s pick for Federal Trade Commissioner, narrowly cleared a key procedural vote in the Senate on Wednesday. The decision paves the way for a final floor vote on Bedoya’s nomination, to be held

Senate votes to advance Alvaro Bedoya’s FTC confirmation

March 30, 2022 3:28 PM CNN Newsource

By Brian Fung, CNN Business One of President Joe Biden’s key administrative nominees is a step closer to confirmation after Alvaro Bedoya, Biden’s pick for Federal Trade Commissioner, narrowly cleared a key procedural vote in the Senate on Wednesday. The decision paves the way for a final floor vote on Bedoya’s nomination, to be held

Model Y electric vehicles stand on a conveyor belt at the opening of the Tesla factory near Berlin earlier this month.

Here’s why Tesla shares are on fire again

March 30, 2022 3:18 PM CNN Newsource

By Chris Isidore, CNN Business Tesla shares have been on a tear in recent weeks as Elon Musk marked the company’s first deliveries from its new Berlin factory, easing investors’ fears about whether the EV maker would receive the necessary approvals from the German government. “I’d say 30% of investors we talked to over the

Ditching fossil fuels makes even more sense now

March 30, 2022 3:11 PM CNN Newsource

Opinion by Senator Markey and Mark Wolfe for CNN Business Perspectives The surging and volatile oil and gas prices created by Russian President Vladimir Putin’s war on Ukraine highlights the urgent need for the US to reduce its dependence on foreign oil and natural gas and accelerate its move to cleaner energy sources. Never before

Weddings are coming back in full force in 2022

Weddings are booming again. They’re bigger and more expensive than ever

March 30, 2022 2:18 PM CNN Newsource

By Parija Kavilanz, CNN Business Two years of pandemic uncertainty forced many couples to postpone or even cancel their nuptial celebrations. But weddings are coming back with gusto. This year’s wedding boom is projected to be big, according to a new report from wedding planning site The Knot. It anticipates as many as 2.6 million

Weddings are booming again. They’re bigger and more expensive than ever

March 30, 2022 2:18 PM CNN

By Parija Kavilanz, CNN Business Two years of pandemic uncertainty forced many couples to postpone or even cancel their nuptial celebrations. But weddings are coming back with gusto. This year’s wedding boom is projected to be big, according to a new report from wedding planning site The Knot. It anticipates as many as 2.6 million

Shoppers place purchases into vehicles outside a Five Below store in Bloomington

Toys ‘R’ Us is gone. This discount toy store is filling the void

March 30, 2022 11:34 AM CNN Newsource

By Nathaniel Meyersohn, CNN Business Toys “R” Us filed for bankruptcy in 2017 and closed all of its stores. That’s left an opening for rivals like discount toy chain Five Below to fill the gap. Five Below, as its name suggests, sells most of its toys, games, room decorations and tech accessories for less than