Money

By Paul R. La Monica, CNN Business Crude oil prices briefly surged to their highest levels since 2008 Thursday morning before pulling back a bit. Still, at about $110 a barrel, there are growing concerns that skyrocketing energy prices could lead to a severe economic pullback in the United States and around the globe. After

By Matt Egan US oil prices briefly spiked on Thursday to their highest level in nearly 14 years, as concerns about disruptions to Russia’s supplies continue. US crude jumped as much as 5.4% to $116.57 a barrel early Thursday — the highest trade since September 22, 2008. A week earlier Lehman Brothers collapsed. However, the

By Chris Isidore, CNN Business Tesla CEO Elon Musk, a vocal critic of unions and the United Auto Workers’ efforts to organize his employees, is inviting the union to hold an organizing vote at the company. On Twitter late Wednesday night, Musk said that Tesla is able to hire and retain workers only in the

By Jordan Valinsky, CNN Business Russian-made vodka brands face intense backlash, with calls for boycotts spreading this week to about a dozen US states including Virginia, Oregon, Iowa and North Carolina. “This puts Russian vodka brands in a precarious position, as prolonged conflict will not only damage immediate sales, but may also cause permanent disillusionment

By Anneken Tappe, CNN Business Forecasting the pace of the recovery has been tough, and many economists have got their predictions very wrong over the past two years. For the February jobs report set to be released on Friday, experts say they are expecting robust job growth. But what if they got it wrong yet

By Chris Isidore, CNN Business Governments aren’t alone in turning the screws on the Russian economy. Dozens of major multinational companies are doing the same. A growing number of businesses are choosing to shut down their operations in Russia — even if they aren’t required to. Companies in multiple industries are bowing out of Russia,

By Julia Horowitz, CNN Business Russia’s economy is under serious pressure from tough new Western sanctions. That’s forcing financial institutions to consider: Just how exposed are they if it implodes? What’s happening: Foreign banks had more than $120 billion in claims on Russian counterparties at the end of September 2021, according to the Bank for

By Jordan Valinsky, CNN Business Two major retailers, Ikea and H&M, are temporarily pausing operations in Russia and Belarus because of the invasion of Ukraine. Ikea, the world’s largest furniture company, has 17 stores in Russia. The company said the conflict is having a “huge human impact” and “resulting in serious disruptions to supply chain

By Xiaofei Xu and Anaëlle Jonah, CNN France has seized a yacht owned by Russian oligarch Igor Sechin, the French finance ministry said in a statement on Thursday. Sechin is the CEO of Russian oil giant Rosneft. The European Union sanctioned Sechin earlier this week, describing him as one of Russian President Vladimir Putin’s “most

By Diksha Madhok, CNN Business Indian businesswoman Swati Daga first bought bitcoin in 2017, when the cryptocurrency was trading well under $3,000. Her decision to invest in digital currencies was met with wariness by her family, she recalls. “The elders in my family told me not to throw my money away,” said Daga, who runs

By Reuters A Tokyo court on Thursday convicted former Nissan Motor executive Greg Kelly of helping Carlos Ghosn hide pay from financial regulators, but said he had not been responsible for the total $80 million the ex-Nissan chief allegedly failed to disclose. “The court finds the existence of unpaid remuneration” and the failure to disclose