Money

By Irene Nasser and Yong Xiong, CNN Business Gazprom has resumed gas shipments through the Nord Stream 1 pipeline, a vital artery linking Russia’s vast gas reserves to Europe via Germany. Gas began flowing again Thursday, data from the operator’s website showed, after the pipeline had been shut 10 days for scheduled maintenance. Many had

By Julia Horowitz, CNN Business Europe’s economy, which accounts for almost a fifth of the world’s output, is facing its toughest test since the pandemic erupted more than two years ago. A cocktail of risks threatens to throw growth into reverse at a moment of deep uncertainty. Like the United States and other developed economies,

Opinion by Mark Zandi for CNN Business Perspectives The stock market is having a rough go. Since hitting an all-time high on the first trading day of the year, stock prices have fallen by more than 20%. Known as a bear market, the losses have been financially painful. Trillions of dollars in stock wealth has

By Parija Kavilanz, CNN Business For one group of workers, the baby formula shortage is a multi-pronged crisis that threatens not only the well-being of their young children — but also their own livelihoods. Many shoppers’ weekly grocery trips don’t require much more than a short car ride into town. But that’s not how it

By Michelle Toh, CNN Business Macao’s casinos have been bleeding hundreds of millions of dollars a month during the pandemic. Now a prolonged lockdown is adding more uncertainty for players in the world’s largest gambling hub. Since last week, Macao has been under strict stay-home orders as it grapples with a surge in coronavirus cases.

By Peter Valdes-Dapena, CNN Business General Motors and Lockheed Martin are working together on a new Lunar Rover. but it needs tires. So, Goodyear is now joining the team. GM and Goodyear have been over this dry, dusty ground before. Both companies worked on NASA’s original Lunar Roving Vehicles that went to the moon in

By Michelle Toh, CNN Business A new show about a young female attorney has become another South Korean hit on Netflix, giving investors hope that the producer may have another “Squid Game”-like success on its hands. “Extraordinary Attorney Woo,” a series that follows the titular character Woo Young-woo as “a newbie at a top law

By Anna Cooban, CNN Business The European Union has unveiled its emergency gas rationing plan — a day before it fears Russia could drastically cut the flow of natural gas to the continent. The “Save Gas for a Safe Winter” plan announced Wednesday sets a target for the 27 member states to reduce their gas

By Danielle Wiener-Bronner and Chris Isidore, CNN Business Chipotle permanently closed a restaurant in Augusta, Maine that filed to form a union last month. “We have been unable to adequately staff this remote restaurant with crew and continue to be plagued with excessive call-outs and lack of availability from existing staff,” Laurie Schalow, chief corporate

By Tami Luhby, CNN Even when the temperature soars into the 90s, Linda Morris won’t turn on her air conditioning until she feels she’s about to faint. Instead, the retired postal worker tries to escape the heat in the unfinished basement of her Hickory Hills, Illinois, home. She brought down a chair so she can

Opinion by Geoff Murray, Andrew Medland and Rory Heilakka for CNN Business Perspectives The ongoing pilot shortage has already wreaked havoc on summer vacation travel in the United States — and it’s only the beginning. With too few pilots to meet demand, the industry is likely to be in store for even higher airfares, more

By Julia Horowitz, CNN Business Global supply chains are still a snarled mess, disrupting deliveries of goods, adding to headaches for businesses and feeding the worldwide surge in inflation. The good news: There are some indications that the situation is beginning to get better. The bad news: Huge risks — from another spike in coronavirus

By Peter Valdes-Dapena, CNN Business General Motors revealed a new electric mid-sized SUV, the Chevrolet Blazer EV, that will go on sale in about a year. Part of GM’s push to go all-electric in a little over a decade, the Blazer EV will join an increasingly competitive market for electric SUVs. But its real appeal

By Danielle Wiener-Bronner, CNN Business As prices surge and the UK economy struggles more than most of its peers, Starbucks is reportedly looking for an exit. The company is engaged with advisers to determine whether it could — or should — sell its business in the United Kingdom, according to UK newspaper The Times. Asked

By Anna Bahney, CNN Business Anyone who bought a home — or tried to — over the past couple of years knows that it was rip-roaringly competitive, with buyers offering well above asking price and all-cash deals. But it actually could have been worse. One group all but disappeared from the market during the pandemic:

By Anna Cooban, CNN Business Europe is bracing for the potential of a full-blown gas crisis later this week just as an historic heatwave has hiked demand for energy to help cool the continent’s homes and businesses. On Thursday, the Nord Stream 1 pipeline — a crucial artery linking Russia’s gas to the bloc —

By Laura He, CNN Business China is trying to ease panic over two of the biggest issues threatening social stability in the country—mortgage boycotts and frozen bank accounts. On Sunday, the China Banking and Insurance Regulatory Commission urged banks to increase loan support for real estate developers so they can complete unfinished projects, as thousands

Story by Reuters The Indian government’s Covid-19 vaccinations hit 2 billion on Sunday, with booster doses underway for all adults, as daily infections hit a four-month high, official data showed. Prime Minister Narendra Modi extolled the vaccination milestone, celebrating the world’s largest and longest-running inoculation campaign that began last year. “India creates history again!” Modi

By Ramishah Maruf, CNN The attorney general of the state of Ohio couldn’t match the job of a local reporter who confirmed the case of a 10-year-old rape victim who traveled from Ohio to Indiana to receive an abortion, CNN analyst Bill Carter said on “Reliable Sources” Sunday. “There is not a damn scintilla of

By Frank Pallotta and Nicole Goodkind, CNN Business Netflix, once a darling of Wall Street, is suddenly on the ropes. The streaming giant will report its second-quarter earnings on Tuesday, and it’s shaping up to be one of the most consequential moments in the 25-year history of the company. Netflix is having a terrible year.

By Danielle Wiener-Bronner, CNN Business When you walk into a supermarket and pick up an item — anything from milk to cereal to a can of beans — you’ll likely see a little date on the package preceded by “enjoy by,” “sell by,” or a similar phrase. You might think that date is the absolute

By Matt McFarland, CNN Business 47 Hertz customers have filed a lawsuit against the rental company that describes horror stories after they were allegedly falsely reported as having stolen its rental cars, and in some cases even jailed. The plaintiffs allege being blind-sided by arrests — sometimes at gunpoint — and in some cases spending

By Nicole Goodkind, CNN Business US stocks surged Friday as an end-of-week rally gained momentum and sent the Dow up over 600 points. A new batch of bank earnings and economic data Friday morning increased investors’ optimism about the state of the economy and lessened worries that the Federal Reserve could raise rates by a

By Nicole Goodkind, CNN Business US markets took a beating on Thursday as big bank earnings delivered disappointing results. Markets and the economy have endured three turbulent months. The Federal Reserve’s rate rise regime and Russia’s invasion of Ukraine have slammed investor and borrower sentiment. The financial sector is hurting, too. Analysts expect earnings to

By Laura He, CNN Business China’s economy has recorded its worst quarterly performance in over two years, after months of harsh Covid lockdowns wreaked havoc across the country. Gross domestic product in the world’s second largest economy expanded by just 0.4% in the three months to June 30, compared with the same period last year,