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By Clare Sebastian and Chris Liakos, CNN Oleg Tinkov, the billionaire founder of a big Russian digital bank, has blasted Russia’s “insane war” in Ukraine and urged the West to help President Vladimir Putin find an off-ramp to “stop this massacre.” Russia’s brutal assault on its neighbor began nearly two months ago. Thousands of Ukrainian

By Peter Valdes-Dapena, CNN Business Electric vehicles, with their need for lots of expensive batteries, have often trended towards luxury. Electric cars from Porsche, Mercedes, and Audi have all hit the market in recent years. BMW has come out with its own electric cars like the iX and i4 and now the new i7, a

By Michelle Toh, Jake Kwon and Lizzy Yee, CNN Business Hong Kong’s Covid-19 curbs are continuing to severely limit travel into the city, with only one flight from outside the Asia Pacific region landing on Tuesday and Wednesday. The government recently allowed flights from nine countries, including Australia, the United Kingdom and the United States,

By Alicia Wallace, CNN Business April is typically a pretty eventful month for the cannabis industry, with 4/20 celebrations bringing abundant attention — and sales. But things have been heating up much earlier this year. In the first four days of April, the US House of Representatives (once again and narrowly) passed a bill to

By Anna Cooban, CNN Business The price of goods leaving German factories has passed an eye-watering milestone. German annual producer price inflation topped 30% in March, the country’s Federal Statistics Office said on Wednesday. That’s its highest level since the agency began collecting data 73 years ago. The biggest culprit? Energy prices, which rose nearly

By Nicole Goodkind, CNN Business Volkswagen is gunning for Tesla. Tesla is still king, with over 936,000 electric vehicles sold in 2021 and a share of about 14% of the global electric car market. But Volkswagen isn’t far behind. having grabbed about 11% of the market last year and doubled its EV sales compared with

By Paul R. La Monica, CNN Business Disney investors aren’t having as awful a year as Netflix shareholders. But that’s not saying much. Netflix’s stock has plunged more than 40% this year, ahead of its first quarter earnings release after the closing bell Tuesday. Meanwhile, shares of Disney have dropped nearly 15% so far in

By Jeanne Sahadi, CNN Business Most people who are required to file 2021 tax returns will have done so by the official filing due date — Monday, April 18. Or they applied for an extension, giving them until October 17 to file their returns. But you’re not most people. You did neither. The question now

By Brian Stelter, CNN Business Joe Kahn, the managing editor of The New York Times, will succeed Dean Baquet as executive editor in June. Kahn, a 24-year veteran of the news organization and Baquet’s second in command, was thought to be the favorite for the top Times newsroom job. Publisher A. G. Sulzberger confirmed it

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. Netflix will report first quarter earnings on Tuesday afternoon, setting the bar for a season of financial reports that will reveal a whole lot about the state of streaming. The

By Paul R. La Monica, CNN Business Tesla is in a highly competitive electric car market. It has no chief operating officer. And CEO Elon Musk was already busy juggling leadership roles at SpaceX, The Boring Company and Neuralink before he launched an unsolicited takeover offer for Twitter. That’s a lot of distractions. And it

By Uliana Pavlova, Chris Liakos and Anna Cooban, CNN Business The exodus of Western companies from Russia could cost hundreds of thousands of jobs in Moscow alone. The city’s mayor, Sergey Sobyanin, said in a blog post Monday that 200,000 people were at risk of losing their jobs. Authorities were setting aside 3.36 billion rubles

By Anna Cooban, CNN Business Britons are abandoning streaming services such as Netflix and Disney+ to save money as they suffer the biggest cut to their disposable incomes since the 1950s. Streaming services boomed during the pandemic as people were forced to spend more time at home. With lockdown restrictions lifted, Britons canceled about 1.5

By Nicole Goodkind and Julia Horowitz, CNN Business Almost two months after Russia’s invasion of Ukraine, the global metals trade remains in turmoil. What’s happening: The scarcity of commodities like copper, nickel and zinc — hastened by punitive sanctions on Russia and high energy prices — has broken down a century-old system, costing financial giants

By Laura He, CNN Business China’s economy made a solid start to the year, recording first quarter growth that surpassed expectations. But a recent slump in consumer spending and rising unemployment suggest much tougher months ahead with dozens of cities still under Covid lockdowns. China’s gross domestic product grew 4.8% in the three months to

By Beth Marengo and Samaria Parker, CNN Over the past 70 years, media mogul Rupert Murdoch built a small Australian family newspaper company into arguably the most powerful conservative media empire in history. With a market cap of $13.50 billion, News Corp is one of the most influential companies on the planet. The story behind

By Nicole Goodkind, CNN Business Nearly 400 million people across 45 cities in China are under full or partial lockdown as part of China’s strict zero-Covid policy. Together they represent 40%, or $7.2 trillion, of annual gross domestic product for the world’s second-largest economy, according to data from Nomura Holdings. Analysts are ringing warning bells,

By Frank Pallotta, CNN Business “Saturday Night Live” opened up its episode this holiday weekend with the Easter Bunny, who had some special guests to pass on some special holiday messages. “Hello, everyone! It’s really me, the Easter Bunny,” cast member Bowen Yang in a bunny outfit said during the episode’s cold open. “Either that,

By Gregory Wallace Pilots at Southwest Airlines and Delta Air Lines say pilot exhaustion is on the rise, and they’re pressing the airlines treat fatigue and the mistakes that result as a safety risk. “Fatigue, both acute and cumulative, has become Southwest Airlines’ number-one safety threat,” the Southwest Airlines Pilots Association, or SWAPA, told airline

Reuters Ukraine’s richest man has pledged to help rebuild the besieged city of Mariupol, a place close to his heart where he owns two vast steelworks that he says will once again compete globally. Rinat Akhmetov has seen his business empire shattered by eight years of fighting in Ukraine’s east but remains defiant, sure that

By Alicia Wallace and Vanessa Yurkevich, CNN A weeklong protest by Texas Gov. Greg Abbott against President Biden’s recent immigration policy reached a resolution on Friday, but the gridlock it created has resulted in hundreds of millions of lost dollars and delays in shipments of everything from avocados to automobile parts that will have a

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. Richard Roth, CNN’s senior UN correspondent, the last remaining original employee of CNN, is recovering after a successful kidney transplant earlier this week. In a note to colleagues on Friday,

Opinion by Sean Griffin for CNN Business Perspectives The Walt Disney Company has had a messy few weeks. First, it experienced backlash over its failure to condemn Florida’s new “Don’t Say Gay” law, which will ban schools from teaching students in the third grade and below about gender identity and sexual orientation. Then CEO Bob

By Veronica Stracqualursi and Betsy Klein, CNN President Joe Biden on Friday announced his intent to nominate former Obama Treasury official Michael Barr as the vice chair for supervision of the Federal Reserve, a move that would install a key architect of the Dodd-Frank Act of 2010 as the nation’s top banking regulator. The announcement

By Michelle Toh, CNN Business Chinese officials are grappling with the economic distress caused by their Covid-19 restrictions, as several cities remain in lockdown, according to the head of a European trade group. Jörg Wuttke, president of the European Union Chamber of Commerce in China, said in an interview with CNN Business on Thursday that

By Alicia Wallace, CNN Business For many of the nation’s small and independent brewers, this year will prove to be a true test of their staying power. Early data for 2022 shows that brewery closures are on the rise and some sales have been spotty, said Bart Watson, senior economist for the Brewers Association, craft

By Anneken Tappe, CNN Business Americans are feeling slightly better about the economy again, in part because they believe the worst of the latest surge in gas prices is behind them, consumer sentiment data showed Thursday. After an initial jump in energy costs in response to the military conflict in Ukraine was felt at US