Money

By Anneken Tappe, CNN Business US inflation took a breather last month for the first time since August. Prices still increased, but at a slower pace than in previous months. The Consumer Price Index was up 8.3% in the 12 months ended in April, the Bureau of Labor Statistics reported Wednesday, slightly higher than economists

By Chris Isidore, CNN Business Russia’s invasion of Ukraine is a major reason that US drivers are paying record prices for gasoline. But it’s not the only cause of the spike. Numerous factors are pushing prices up, with regular gasoline hitting a record $4.40 a gallon Wednesday according to AAA’s survey. Gas prices were already

By Jordan Valinsky, CNN Business Bill Gates said he has tested positive for Covid-19. The outspoken vaccine advocate said on Twitter he’s “experiencing mild symptoms” and he’s “following the experts’ advice by isolating until I’m healthy again.” Gates added that he’s “fortunate to be vaccinated and boosted.” The billionaire Microsoft founder also said Tuesday that

By Hadas Gold, Abeer Salman and Amir Tal, CNN Palestinian-American Al Jazeera journalist Shireen Abu Akleh was fatally shot while covering an Israeli military operation in the West Bank city of Jenin on Wednesday. The Palestinian health ministry said she was shot in the head by a live bullet, and confirmed her death shortly afterwards.

By Mark Thompson and Anna Cooban, CNN Business Ukraine suspended the flow of some Russian natural gas to Europe on Wednesday, blaming Moscow for diverting supplies from the vital pipeline network. Russian gas, a key source of energy for Germany and many other EU economies, had continued to flow uninterrupted through pipelines across Ukraine since

By Laura He, CNN Business Car sales saw a record decline last month in China, the world’s largest automobile market, as strict Covid-19 lockdowns take a severe economic toll. And no auto maker suffered more than Tesla. The EV maker sold 1,512 vehicles in mainland China last month, down 98% from March, according to data

By Swati Gupta and Rhea Mogul, CNN India’s top court on Wednesday ordered the temporary suspension of the country’s controversial sedition law, putting pressure on the government which has been accused of misusing it to stifle free speech. The colonial-era law will be paused until the government completes a review, the Supreme Court said. No

By Parija Kavilanz, CNN Business Laura Modi is fielding dozens of emails, calls, and texts daily from anxious parents asking about how they can get baby formula. Modi is CEO and cofounder of Bobbie, a San Francisco-based direct-to-consumer seller and subscription service for organic milk-based baby formula that is produced in a Vermont facility and

By Jorge Engels and Karol Suarez Three journalists have been killed in Mexico over the past week according to government officials. Two journalists were killed Monday in the Mexican state of Veracruz, according to the state’s prosecutor’s office, which said it had launched an investigation into the killings. Veracruz’s prosecutor’s office said on Twitter that

Opinion by Evan Greer for CNN Business Perspectives It’s official: Elon Musk could soon become the king of Twitter. After agreeing to purchase his new crown for some $44 billion, Musk has promised big changes. In truth, no one really knows what Musk will do with Twitter if his bid succeeds. He could make it

By Beth Braverman It can be exciting to think about making a big purchase — like putting a down payment on a house, throwing your dream wedding reception, buying a new car or taking a bucket-list vacation. Less exciting: thinking about how to save up for it. But any major expense requires major planning. Taking

By Frank Pallotta, CNN Business The greatest quarterback in NFL history is going to try to become the greatest announcer in NFL history — once he finally retires, that is. Tom Brady, the seven-time Super Bowl champion for the New England Patriots and Tampa Bay Buccaneers, is heading to Fox Sports once his playing career

By Nicole Goodkind, CNN Business The age of meme-stock trading has largely come to an end, and the online trading platform that fueled the surge is scrambling to find alternative sources of revenue. Robinhood benefited greatly from meme investors piling into AMC, GameStop and other heavily shorted stocks last year. Ironically, Robinhood now thinks the

By Julia Horowitz, CNN Business As the recovery from the pandemic took off last year, everything investors touched turned to gold. The US stock market leaped 27%. Bitcoin rocketed to a record high. Commodities like oil and copper soared. Even alternative investments, from trading cards to wine, experienced a boom. Now, the glee of the

By Matt Egan, CNN Business US Chamber of Commerce CEO Suzanne Clark is pushing back against Senator Elizabeth Warren and others who blame high inflation on dominant corporations. “They’re just plain wrong,” Clark told CNN in a rare interview. “We’ve had decades of low inflation. There wasn’t some magic burst of consolidation in the last

By Jordan Valinsky, CNN Business Peloton’s turnaround plan can’t happen fast enough: The at-home fitness company continues to lose money — and it’s quickly running out of cash. The once-hot company reported a dismal quarterly financial report Tuesday, with sales tumbling 15% from a year ago. Peloton lost $757 million last quarter. Peloton said it

By Henry Klapper, CNN Two Russian reporters appeared to post at least 30 articles on Monday that criticized President Vladimir Putin’s invasion of Ukraine. CNN reviewed the articles, which were taken down almost immediately after they were published on a pro-Kremlin news site. Some were pegged to the 77th anniversary of the Soviet Union’s defeat

By Anna Cooban, CNN Business Volkswagen Group, the leading global competitor to Tesla, has sold out of electric cars in the United States and Europe this year because of soaring demand and supply constraints. “We are not sold out because we can’t build cars … we are really sold out for electric cars because demand

Opinion by Jeff Tucker for CNN Business Perspectives After 14 straight months of year-over-year home price growth reaching into the double digits, we’re finally starting to see the early signs of a cooling housing market. Don’t worry. A crash isn’t coming. In fact, prices may not even fall. Rather, this will be a much-needed rebalancing

By Jeanne Sahadi, CNN Business A lot is changing fast in the world of crypto, including the tax rules. As with most investments there will be taxes to consider before figuring out how much you really made — or lost — on your digital assets. So if you couldn’t resist getting in on, say, bitcoin’s

By Paul R. La Monica, CNN Business So much for bitcoin being digital gold. The world’s most valuable cryptocurrency was down 10% Monday after plunging again over the weekend. Bitcoin prices have now plummeted nearly 20% in the past week. At a price of just below $31,000, bitcoin is more than 50% below its record

By Chris Isidore, CNN Business Rivian’s stock plunged 13% Monday as early investors jumped at their first opportunity to sell their shares — including, reportedly, Ford. The 180-day “lockup” period, which prevented insiders and early investors from selling their Rivian shares, expired Monday. CNBC reported on Saturday that Ford, which owns a 11.4% stake in

By Matt Egan, CNN Business Prices at the pump are once again flirting with record highs. That’s adding to inflationary headaches for families, the US economy and the White House. The national average for regular gasoline rose to $4.328 a gallon on Monday, according to AAA. That’s a fraction of a penny shy of the

By Julia Horowitz, CNN Business Summer 2022 will be huge for travel, as people in the United States and Europe dig out their swimsuits and happily set off on long-postponed vacations. That’s the message from companies like Marriott, Airbnb, Booking Holdings and Trivago, which have been telling investors that after a difficult two years, business

By Laura He, CNN Business Groups representing Western businesses in China are urging Beijing to relax its approach to Covid, saying harsh lockdowns are damaging earnings and investment and forcing a growing number of companies to consider shifting operations out of the world’s second biggest economy. Over 50% of American businesses have either delayed or

By Amy Woodyatt, CNN Business The New York Times has removed the word “fetus” from its Wordle answers in a bid to keep the popular online game “distinct from the news.” In a statement on its website, the Times warned that some users playing the game Monday “may see an outdated answer that seems closely

By Chris Isidore, CNN Business Boeing is moving its headquarters from Chicago to a suburb of Washington, DC. But some analysts think this move is one in the wrong direction. Boeing was based in Seattle from its founding in 1916 to 2001. During its heyday it was renowned as an engineering-driven company that made the

By Laura He, CNN Business One of China’s top leaders has painted a grim picture of the job market in the world’s most populous nation, as widespread Covid lockdowns slam the brakes on the economy. Chinese Premier Li Keqiang — the No. 2 in the hierarchy of China’s ruling Communist Party — called the employment

By Ramishah Maruf, CNN Business The Justice Department indicted Mining Capital Coin CEO Luiz Capuci Jr. for “allegedly orchestrating a $62 million global investment fraud scheme,” the agency said Friday. Mining Capital Coin, or MCC, is a cryptocurrency mining and investment platform. Capuci, who is from Port St. Lucie, Florida, allegedly misled investors by selling

By Ramishah Maruf, CNN Kate Smith was a reporter for CBS News for several years, and her main beat was reproductive rights. Now she works for an organization that was one of her main sources. Last year, Smith left CBS to work as the senior director of news content for Planned Parenthood. On “Reliable Sources”

By Parija Kavilanz and Ramishah Maruf, CNN Business For months stores nationwide have been struggling to stock enough baby formula. Manufacturers say they’re producing at full capacity and making as much formula as they can, but it’s still not enough to meet current demand. The out-of-stock rate for baby formula hovered between 2% and 8%

By Frank Pallotta, CNN Business “Doctor Strange in the Multiverse of Madness,” the latest film in the Marvel Cinematic Universe, made an estimated $185 million domestically for its opening this weekend, according to Disney. That number hit the high end of expectations, which had the film making around $170 million to $185 million in North

By Frank Pallotta, CNN Business Heading into the final month of its season, “Saturday Night Live” took on the biggest story of the week: Politico obtaining a draft of a majority opinion written by Supreme Court Justice Samuel Alito that would overturn Roe v. Wade. The NBC variety show opened its latest episode by taking

By Alicia Wallace, CNN Business Photographs by William DeShazer for CNN When the pandemic hit the US in March 2020, concert halls fell silent, stages faded to black and livelihoods hung in the balance. The US performing arts industry immediately lost more than half of its jobs; and unlike other hard-hit businesses such as restaurants,

By Zoe Sottile, CNN Hot Wheels is expanding representation for kids who use wheelchairs — with the company’s first-ever remote-controlled wheelchair toy. The toy was created in collaboration with five-time Wheelchair Motocross World Champion and Paralympic athlete Aaron “Wheelz” Fotheringham. Fotheringham, who was born with spina bifida and has been a full-time wheelchair user since

By Frank Pallotta, CNN Business Netflix is still reeling from its stock plunge last month after losing subscribers for the first time in more than a decade. To turn the narrative back in its favor, analysts have suggested adding ads and clamping down on password sharing. But one way Netflix can help itself is by

Story by Faith Karimi, CNN Video by Lacey Russell, CNN Photographs by Lynsey Weatherspoon/Redux for CNN The gray mansion with white trim stands out amid the brick homes in this affluent, quiet suburb of Atlanta. A Tesla and a Mercedes sit in the driveway. Towering pines wave gently in the backyard. Bare windows offer glimpses

By Nathaniel Meyersohn, CNN Business Turns out Trader Joe was a real guy, and his shrewd instincts led him to create a counter-culture grocery empire. Joe Coulombe, a struggling convenience store owner in Los Angeles, decided in 1967 to open a grocery chain to appeal to the small but growing number of well-educated, well-traveled consumers

By Oliver Darcy, CNN Business Politico’s explosive scoop about a draft opinion revealing that the Supreme Court had voted to overturn Roe v. Wade has become the most-trafficked story in the outlet’s 15-year history, a spokesperson for the outlet told CNN on Friday. The article, written by Josh Gerstein and Alexander Ward, had originally published

By Oliver Darcy, CNN Business The Department of Defense fought to prevent Mark Esper, the former secretary of defense, from revealing in his forthcoming book that former President Donald Trump had proposed launching missiles into Mexico to destroy drug labs. The passage in the book, “A Sacred Oath,” which is out Tuesday, was a “major”

By Danielle Wiener-Bronner, CNN Business Starbucks isn’t pleased that the White House left management out of a meeting with union representatives. On Thursday, union organizers representing workers at Starbucks, REI and Amazon, among others, met with Vice President Kamala Harris and Labor Secretary Marty Walsh at the White House. President Joe Biden also stopped by