Money

By Julia Horowitz, CNN Business Investors have been increasingly eager in recent years to deploy their money in a way that supports sustainability and aligns with their values — a trend that, in theory, could leverage capitalism to help combat climate change and fight society’s ills. But has the rapid rise of funds that prioritize

By Nicole Goodkind, CNN Business The recent string of deadly shootings may send investors searching their portfolios to determine if they have exposure to ammunition manufacturers or companies that sell guns. Chances are that they do. The gunmakers In recent years, large asset managers like BlackRock have offered investors access to alternative funds that don’t

By Melissa Alonso and Andy Rose, CNN A judge has denied former vice-presidential nominee and Alaskan governor Sarah Palin’s bid for a new trial in her defamation case against the New York Times, according to a written decision filed Tuesday in the US District Court for the Southern District of New York. Palin sued the

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 Frank Pallotta, CNN Business “Top Gun: Maverick” took off at the box office this weekend — setting a new record in the process. The sequel to the 1986 blockbuster, which has Tom Cruise reprise his most iconic role as Pete “Maverick” Mitchell, made an estimated $156 million domestically for its four-day opening weekend, according

By Diksha Madhok, CNN Business India’s appetite for cheap Russian oil is swelling, even as the West continues to hit Moscow with unprecedented sanctions. Russian Crude flows to India are expected to reach 3.36 million metric tonnes in May, according to estimates from Refinitiv. This is nearly 9 times higher than the 2021 monthly average

By Jack Guy, Pierre Bairin and Dalal Mawad, CNN A French journalist has been shot and killed in Ukraine, according to French President Emmanuel Macron. “Journalist Frederic Leclerc-Imhoff was in Ukraine to show the reality of the war. On board a humanitarian bus, alongside civilians forced to flee to escape the Russian bombs, he was

By Anna Cooban and James Frater, CNN Business Europe’s united front against Moscow is being put to the test as countries struggle to agree a ban on Russian oil imports. European Union diplomats failed to reach consensus Sunday on the terms of an embargo, but held further talks Monday in preparation for a summit of

By Michelle Toh, CNN Business China’s richest and most international city is trying to return to business as usual after a two-month lockdown, but some restrictions will remain in place. Shanghai authorities on Sunday pledged to allow all businesses to open up from Wednesday. The city’s deputy mayor, Wu Qing, announced the easing of restrictions

By Ramishah Maruf, CNN There’s a growing debate among journalists over how to report on the victims of mass shootings. Some argue that if lawmakers and American citizens were able to see the graphic images of dead bodies in classrooms, there could be a shift in how some in the country approach gun rights. Temple

By Frank Pallotta, CNN Business “Top Gun: Maverick” felt the need for speed at the box office this weekend. The sequel to the 1986 blockbuster, which has Tom Cruise reprise his most iconic role of Pete “Maverick” Mitchell, made an estimated $124 million domestically for its three day opening weekend, according to Paramount. That not

By Nicole Goodkind, CNN Business To most investors, navigating today’s stock market is as treacherous as walking the plank. But for luxury investors, it’s more like strutting down the catwalk. The United States may very well be hurtling toward a recession and the Nasdaq is suffering its worst 100-day performance on record. But luxury spending

By Reuters Rivian Automotive said on Friday Charly Mwangi, who helped kick-start the electric-vehicle maker’s manufacturing process, will leave the company. Mwangi, a former Tesla executive, served as executive vice president from May 2020 at Rivian. He brought the R1T pickup truck and R1S SUV to production in late 2021. His departure comes amid the

By Frank Pallotta, CNN Business Disney World is the crown jewel of the company’s Parks business, but even crown jewels need to be gussied up now and again. Now Epcot, one of the resort’s most beloved parks since its 1982 opening, is in the middle of an update aimed at attracting a new generation of

By Ramishah Maruf, CNN Business Elon Musk, the world’s richest man, said on Twitter Thursday that billionaires aren’t the bad guys. Musk tweeted that it is “morally wrong & dumb” to use the word billionaire as a pejorative if that person is using their wealth to create products that make “millions of people happy.” He

By Matt Egan, CNN Business Corporate America has said very little following this week’s Texas school shooting that left 21 people dead. Yale professor Jeff Sonnenfeld is calling out their silence. Sonnenfeld, a vocal advocate of corporate social responsibility, applauded Goldman Sachs CEO David Solomon for speaking up but said more is needed. “This voice

By Matt Egan, CNN Business Gas prices are painfully high this Memorial Day weekend as millions of Americans hit the road for the unofficial start of summer. The $4.60-a-gallon average price for regular gas an all-time high — and pump prices are also very elevated on an inflation-adjusted basis. Real (that is, inflation-adjusted) gas prices

By Jeanne Sahadi, CNN Business Managing one’s finances in retirement is always tricky. But with inflation pushing up the price of everything from gas to housing to eggs, many retirees are cutting back or eliminating certain costs altogether. CNN Business spoke with several retirees about how they have been managing their spending as prices have

By Allison Morrow, CNN Business There’s little political risk in taxing hugely profitable oil companies to help consumers pay their exorbitant energy bills. But many economists are warning that such a tax could ultimately do more harm than good. See here: On Thursday, the UK slapped a 25% tax on the “extraordinary” profits of British

By David Goldman, CNN Business The manufacturer of a firearm used in the Robb Elementary School shooting said it will not attend the National Rifle Association convention Friday. “Daniel Defense is not attending the NRA meeting due to the horrifying tragedy in Uvalde, Texas, where one of our products was criminally misused,” said Steve Reed,

By Angela Dewan, CNN The G7, which represents the world’s biggest advanced economies, agreed on Friday to achieve “predominantly decarbonized” electricity sectors by 2035, a goal that experts say is a major step in helping the world avert catastrophic climate change. G7 climate, energy and environment ministers made the new pledge in a 40-page communiqué

By Julia Horowitz, CNN Business Wealth taxes are never a popular rallying cry at Davos, a playground for billionaires, corporate titans and top politicians. But Gabriela Bucher, the executive director of Oxfam International, was still frustrated that this week’s World Economic Forum mostly looked the other way. High energy prices are putting massive strain on

By Eric Cheung and Wayne Chang, CNN Taiwan and the United States could begin talks to deepen trade and economic ties “in a few weeks,” two senior Taiwanese government officials told CNN on Friday. The new discussions will “explore concrete ways to deepen the US-Taiwan trade and investment relationship,” the officials said, with the focus

By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Government statements are not adding up. Gaps and discrepancies are raising alarms. Elected officials are failing to answer the public’s questions. This is a moment when journalists are needed. And

By Matt Egan, CNN Goldman Sachs CEO David Solomon is calling on politicians to act following a spate of shootings in the United States. “All of us at Goldman Sachs express our deepest sorrow over the recent tragic and senseless acts of violence in America, which have resulted in the deaths of friends, neighbors, co-workers,

By Parija Kavilanz, CNN Business Instacart said searches for baby formula hit a record high in mid-May but the on-demand grocery delivery site is struggling to fulfill orders because stores remain severely understocked amid the ongoing national formula shortage. The company said searches for formula surged 245% week-over-week as of May 16. At the same

Opinion by Lakshman Achuthan and Anirvan Banerji for CNN Business Perspectives The economy is close to entering a recession, perhaps as soon as this year. To avoid taking too much of a financial hit, Americans will need to prepare. Last summer, we wrote that US economic growth was already starting to slow and the economy

By Matt Egan, CNN Business Russia has spent the past half-century attempting to build a reputation on the world stage as a reliable supplier of energy. It took Vladimir Putin mere months to cast serious doubt on that reputation. “I wouldn’t trust them,” US Energy Secretary Jennifer Granholm told CNN in response to a question

By Julia Horowitz, CNN Business When Ukrainian President Volodymyr Zelensky spoke by video to a packed room at the World Economic Forum in Davos, Switzerland, he thanked the West for its solidarity against Russia. But he also issued a warning to political leaders and business executives: Don’t lose your nerve. “I would only wish you

By Frank Pallotta, CNN Business “Top Gun: Maverick” hits theaters this weekend, marking the return of one of the biggest movie stars of the 1980s and 1990s. We’re not talking about Tom Cruise. Val Kilmer returns to the screen to reprise his role as Tom “Iceman” Kazansky in the long-awaited sequel to the 1986 blockbuster.

By Anna Cooban, CNN Business The UK government is introducing a £5 billion ($6.3 billion) tax on the windfall profits of its oil and gas companies, bowing to pressure from campaigners to raise money to help millions of people struggling with the worst cost-of-living crisis in decades. Finance Minister Rishi Sunak unveiled the new 25%