Money

By Julia Horowitz, CNN Business Allies of Ukraine want to put a price limit on Russian oil. But there’s a problem: They can’t agree on a number that would actually pile pressure on the Kremlin. The West’s biggest economies agreed earlier this year to cap the price of Russia’s most valuable export and vowed to

By Anna Cooban and Diksha Madhok, CNN Business Indian billionaire Gautam Adani’s business empire is planning to raise nearly $2.5 billion in a new share offering as it pushes to expand into new areas. Adani Enterprises, the flagship company of the Adani Group, said in a stock exchange filing on Friday that its board had

By Hanna Ziady, CNN Business Britain’s cost-of-living crisis is already taking the shine off Black Friday. Now, the annual shopping bonanza faces an additional threat from strikes that could disrupt deliveries, subdue online sales and deliver another blow to the slumping economy. Some 235,000 workers have gone on strike across the United Kingdom this week,

By Vedika Sud, CNN Rats in northern India have been accused of eating hundreds of kilograms of cannabis seized from drug dealers and stored in police warehouses. “Rats are small animals, and they aren’t scared of the police,” noted a court in the city of Mathura, Uttar Pradesh, after hearing that local police were unable

By Gayle Harrington and Robert North, CNN Adidas will begin an investigation into allegations of misconduct against Kanye West, with whom the company had a partnership that it ended in October. In a statement released Thursday, Adidas said “it is currently not clear whether the accusations made in an anonymous letter are true. However, we

By Oliver Darcy, CNN Business The staggering level of apparent deception staged by former crypto king Sam Bankman-Fried wasn’t uncovered by government investigators or a major powerhouse financial news organization, such as The Wall Street Journal. Instead, the public’s first glimpse of the alleged wrongdoing by Bankman-Fried — known to insiders as SBF — came

By Jennifer Korn, CNN Business Stores and businesses across the United States will be closed Thursday as Americans celebrate Thanksgiving — but it can be confusing to figure out what will remain open. Many stores that were once open on Thanksgiving have changed policy since the pandemic, shuttering for the day before Black Friday sales.

By Nectar Gan and Juliana Liu, CNN Business Foxconn has offered to pay newly recruited workers 10,000 yuan ($1,400) to quit and leave the world’s largest iPhone assembly factory, in an attempt to quell protests that saw hundreds clash with security forces at the compound in central China. The Apple supplier made the offer Wednesday

By Chris Isidore and Vanessa Yurkevich, CNN Business In September, President Joe Biden, the most union friendly president in recent history, got personally involved in negotiations that reached a tentative labor deal that averted a strike at the nation’s major freight railroads. It was a deal he hailed as a “win for tens of thousands

By Alicia Wallace, CNN Business First-time weekly claims for unemployment benefits jumped to 240,000 for the week ended November 19, according to data released Wednesday by the Department of Labor. That’s a sharp increase of 17,000 from the previous week’s upwardly revised tally of 222,000, and surpasses economists’ expectations of 225,000. It’s the highest weekly

By Hanna Ziady and Sonia Moghe, CNN Alex Jones has lost a bid to water down the nearly $50 million damages award handed down by a jury earlier this year over the Infowars host’s false claims about the Sandy Hook Elementary School massacre. Texas Judge Maya Guerra Gamble on Tuesday ruled that Jones should pay

By Laura He, CNN Business Warren Buffett’s Berkshire Hathaway is continuing to unwind its long position in BYD, China’s largest home-grown EV maker and Tesla’s major rival, after holding it for 14 years. The legendary investor’s conglomerate sold another 3.2 million Hong Kong-listed shares of BYD last week, cutting its stake to 15.99%, a Hong

By Michelle Toh, CNN Business Australia will continue to see a spike in extreme rainfall and heat, as well as more dangerous fire events, its government agencies warned Wednesday. In a biennial climate report, Australia’s national science agency, the Commonwealth Scientific and Industrial Research Organisation (CSIRO), and the Bureau of Meteorology said it had already

By Matt Egan Leading retailers are sounding the alarm about the danger of a national rail strike while simultaneously stressing that a potential work stoppage won’t ruin this holiday shopping season. “Christmas is not canceled,” Brian Dodge, president of the Retail Industry Leaders Association, told CNN in a phone interview on Tuesday. Dodge, whose trade

By Alicia Wallace, CNN Business Inflation has weighed on Americans for much of this year. The Federal Reserve has taken action to bring down high prices, but at the potential cost of slowing the economy. That has meant we’re entering the 2022 holiday shopping season in a period of economic uncertainty. How are you planning

By Julia Horowitz, CNN Business Billions of people watch FIFA’s World Cup every four years, a tantalizing opportunity for advertisers who want to capitalize on the feel-good fervor of the world’s biggest sporting event. But this year, it’s a reputational minefield for some of the world’s biggest brands. Controversies over Qatar’s human rights record have

By Frank Pallotta, CNN Business Bob Iger, who shocked the media world when he returned as CEO of Disney on Sunday, will once again be among the highest-paid executives in Hollywood. Iger will earn a $1 million base salary as he takes over Disney, according to a company filing with Securities and Exchange Commission. However,

By Jordan Valinsky, CNN Business Qatar’s last-minute decision to ban alcohol at World Cup stadiums has left Budweiser with loads of beer left on its hands. The company has an innovative solution to offload it. Budweiser will ship the unsold Buds to the country that wins the tournament, the company said in a tweet. The

By Peter Valdes-Dapena, CNN Business Rivian CEO Robert Joseph Scaringe, better known as RJ, is living his lifelong dream. Getting here though has required dedication to a vision that once seemed nearly impossible. Even now, as the company’s assembly lines have started churning out its electric vehicles, success still isn’t assured. Rivian’s off-road-capable trucks and

By Michelle Toh, CNN Business Singapore’s central bank has responded to criticism of its treatment of two of the world’s largest crypto exchanges, explaining why Binance was on an investor watch list while FTX, which has filed for bankruptcy, was not. In a statement Monday, the Monetary Authority of Singapore (MAS) said it wanted to

By Oliver Darcy, CNN Business One day after the shock announcement of Bob Iger’s return to Disney, and the resulting ouster of his successor-turned-predecessor Bob Chapek, an astonished Hollywood is grappling with what exactly the move will mean for the entertainment behemoth’s short-term and long-term future. But while there is no shortage of questions that

By Ramishah Maruf, CNN Business Paramount has ended its agreement to sell Simon & Schuster to Penguin Random House and will not appeal the recent federal court ruling blocking the merger of the publishing companies. Penguin, a subsidiary of German media giant Bertelsmann, is obligated to pay Paramount, Simon & Schuster’s parent company, a $200

By Matt Egan, CNN Business Carrier CEO David Gitlin has noticed a shift in the jobs market in recent months as the Federal Reserve slams the brakes on the economy and recession fears mount. “It’s become easier to recruit and retain talent than a year ago,” Gitlin told CNN on Friday by phone after meeting

By Ramishah Maruf, CNN Bob Chapek was initially silent on Florida’s controversial bill barring discussions of gender identity in school classrooms. Now he’s saying “Goodbye, Disney.” Chapek’s rocky two-and-a-half year tenure at the head of the entertainment giant had a few wins. He navigated the Covid-19 pandemic, which shuttered theme parks around the world and

By Frank Pallotta, CNN Business Bob Iger is returning to Disney as CEO, retaking the reins of a company that’s very different from the one he led when he stepped down as chief executive in February 2020. With $1.5 billion in streaming losses last quarter alone, park fans unhappy, sinking cable networks like ESPN dealing

By Anna Cooban, CNN Business For Rebeca Blázquez, the past few weeks have been a “nightmare.” Based in Madrid but hoping to find work in London before starting her master’s degree, the 22-year-old university graduate spent a month searching online for a room to rent in London on a £900 budget ($1,070). She sent dozens

By Laura He, CNN Business China has locked down a major transportation hub in the south, as the country grapples with its largest nationwide Covid outbreak since April. The lockdown also follows rising cases in Beijing, which reported the country’s first Covid deaths in nearly six months. In recent days, China had begun to ease

By Wayne Chang and Diksha Madhok, CNN Taiwan Semiconductor Manufacturing Company plans to bring its most advanced technology to Arizona, the founder of the chip giant said Monday. TSMC’s plans come as tensions between Washington and Beijing are rising over chips, with President Joe Biden imposing a sweeping set of controls on the sale of

By Clare Duffy and Paul LeBlanc, CNN Former US President Donald Trump’s Twitter account has been reinstated on the platform. The account, which Twitter banned following the January 6, 2021, attack on the Capitol, was restored after Twitter CEO and new owner Elon Musk posted a poll on Twitter on Friday night asking the platform’s

By Zoe Sottile, CNN Snoop Dogg is reaching out to new customers: actual dogs. The rapper and entrepreneur is expanding into pet fashion with Snoop Doggie Doggs, his new brand of pet accessories. “If my dogs ain’t fresh I ain’t fresh,” Snoop said in a news release published on Thursday. “These dogs and their apparel

Story by Nathaniel Meyersohn, Video by John General, CNN Business Way in the back of the grocery store, at the end of the sleepy baking aisle, sits a brand decades past its prime: Jell-O gelatin. Today, Jell-O is served to patients at hospitals. Or schoolchildren throw it around during food fights at lunch and college

By Jackie Wattles, CNN Eight former SpaceX employees filed labor-law complaints, alleging that Elon Musk’s space company unlawfully fired workers after they wrote company management a letter begging them to publicly condemn Musk’s “harmful” behavior on social media. The former workers allege that SpaceX terminated their employment for participating in “concerted protected activities.” Those protected

By Jeanne Sahadi, CNN Business Employers are planning to increase their salary budgets by 4.6% next year, the highest expected annual jump in 15 years. That’s according to the latest international survey from consulting firm Willis Towers Watson, which included responses from 1,550 US employers. The survey was conducted from October 3 to November 4.