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Opinion by Senator Tom Carper and Senator John Cornyn for CNN Business Perspectives It’s been more than a month since Russia invaded Ukraine — with atrocities and tragedies playing out day after day across social media and televisions around the world. The US, our European allies and our global partners are completely aligned in our

CNN Editorial Research Here is a look at the life of Indian billionaire Mukesh Ambani, chairman and managing director of Reliance Industries Limited (RIL). Personal Birth date: April 19, 1957 Birth place: Aden, Yemen Birth name: Mukesh Dhirubhai Ambani Father: Dhirubhai Ambani, founder of Reliance Mother: Kokilaben Ambani Marriage: Nita Ambani (1985-present) Children: Akash and

By Alicia Wallace and Matt Egan, CNN Russia’s war in Ukraine has “redrawn the contours” of the global economy, stoking concerns of recessions and creating an urgent need to “stave off starvation” for hundreds of millions of people around the world, US Treasury Secretary Janet Yellen said Wednesday. In a speech at the Atlantic Council,

By Anna Bahney, CNN Business Home prices have skyrocketed by nearly 20% over the last year and mortgage rates have risen faster over the past three months than they have in decades. But the high cost to buy a home is not the only obstacle prospective buyers are facing. Other hurdles include a lack of

Opinion by Mark Zandi for CNN Business Perspectives Ever since Russia invaded Ukraine, oil and other commodity prices have surged and recession risks have risen sharply. In fact, the odds of a recession beginning in the next 12 months are getting uncomfortably high: one-in-three, and rising as time goes on. To avoid a downturn, the

By Nicole Goodkind, CNN Business JPMorgan Chase kicked off earnings season Wednesday with some bad news: First-quarter profit fell 42% from a year ago, driven lower by Russia’s invasion of Ukraine, high levels of inflation and supply chain problems. The largest US bank by assets is often viewed as a bellwether for the rest of

By Anna Cooban, CNN Business Germany would plunge into a deep recession if its supply of Russian natural gas was suddenly shut off, the country’s top forecasters warned on Wednesday. The country would lose 220 billion euros ($238 billion) in economic output over the next two years in the event of such a shock, according

By Chris Isidore, CNN Business Travel is booming, and Delta Air Lines boosted ticket prices. That helped the company weather higher fuel costs in the first quarter, and Delta believes it can turn a profit in the second quarter. The company reported an adjusted net loss of $784 million in the first quarter, which was

By Nicole Goodkind, CNN Business Wall Street and private businesses have funneled millions of dollars into anti-union tactics and lobbying, and they’ve gotten what they wanted: Union membership has been on a steady decline in the United States for the past four decades. Now, employees are stepping up their efforts to unionize, most prominently at

By Laura He, CNN Business China is struggling to contain an outbreak of Covid-19 in Shanghai despite a 17-day lockdown that is keeping most of its 25 million residents trapped at home. Located on the east coast of China, Shanghai is the country’s biggest and most affluent city and one of the largest metropolises in

By Parija Kavilanz, CNN Business In Kyiv, a group of small business owners are busy at work. There’s a war raging around them and they’re reminded how close the danger is whenever the warning sirens go off in the Ukrainian capital. They describe it as a jarring sound, yet they push through the fear because

By Matt Egan, CNN Business Bank of America is warning that high inflation poses a credible threat to the economic recovery that began just two years ago. “‘Inflation shock’ worsening, ‘rate shock’ just beginning, ‘recession shock’ coming,” Bank of America chief investment strategist Michael Hartnett wrote in a note to clients on Friday. The warning

By Anna Stewart, CNN Business and Livvy Doherty Roughly a quarter billion more people could be living on less than $1.90 a day by the end of this year due to Covid-19, rising global inequality and the shock of food price increases that have been supercharged by the war in Ukraine, a new report by

By Frank Pallotta, CNN Business Netflix wants to make it easier for you to recommend the TV shows and films you love. The streaming service introduced a “Double Thumbs Up” button Monday that is “an additional way for members to let us know what types of series and films you want to see more of.”

By Nicole Goodkind, CNN Business Big banks like to stick together on major policy decisions. But as Wall Street grapples with heading back-to-work, a rare chasm is growing between the finance giants. The implications of these choices, and the resulting stratification of policies will likely ripple through the world of finance and out to Main

By Peter Valdes-Dapena, CNN Business Electric vehicles have reached a key milestone on the road to becoming ubiquitous. That’s because Toyota, America’s best-selling automaker, is now selling one. You might be surprised to learn that Toyota hasn’t, before now, sold a widely available, real electric vehicle in America. But they have not. Not really. Toyota,

Opinion by Scott Galloway for CNN Business Perspectives It’s been about six months, since we first heard Meta CEO Mark Zuckerberg’s fever dream for a beautiful metaverse. But the metaverse could be so much more than one man’s quest for control over our virtual lives. Most would agree that the metaverse could be a series

Opinion by Patrick Gaspard for CNN Business Perspectives President Biden has led a successful campaign to cut Russia off from the global economy, with asset freezes, export controls and a ban on Russian oil imports. While this has had a devastating impact on the Russian economy, there’s no denying that Americans are feeling the reverberations

By Danielle Wiener-Bronner, CNN Business Krispy Kreme wants to take the edge off higher gas prices by lowering doughnut prices. Every Wednesday from April 13 through May 4, Krispy Kreme will sell a dozen original glazed doughnuts for the price of a gallon of regular gas. Each week, the chain will use Monday’s national average

By Danielle Wiener-Bronner, CNN Business Baskin-Robbins is making some changes. The 77-year old ice cream shop is tweaking its logo, employee uniforms and packaging to update the brand. It’s the first major update for Baskin-Robbins since 2006, according to the company. It will also sell merchandise, including bikes and bucket hats, from a dedicated online

By Michelle Toh, CNN Business Ukraine could lose almost half of its economy this year as a result of Russia’s invasion, according to the World Bank. In a report published Sunday, the bank estimated that the country’s GDP could decline by 45.1% this year, although it noted that “the magnitude of the contraction will depend

By Anna Cooban, CNN Business Russia has defaulted on its foreign debt because it offered bondholders payments in rubles, not dollars, credit ratings agency S&P has said. Russia attempted to pay in rubles for two dollar-denominated bonds that matured on April 4, S&P said in a note on Friday. The agency said this amounted to

By Ramishah Maruf, CNN Abigail Disney shared what she thinks the entertainment company should do in the wake of recent right-wing media attacks. Some conservatives are trying to attach sexual predation claims or allegations of being sympathetic to pedophiles to their opponents as the November midterms approach, and their latest target is the Walt Disney

By Nicole Goodkind, CNN Business Banks have pledged to go green. Yet they can’t seem to ditch coal. Coal, the highest carbon emitting and dirtiest energy source, is the single biggest contributor to human-created climate change. Global power generation from coal grew 9% last year to an all-time high. Over the last three years commercial

By Frank Pallotta, CNN Business Nothing can slow down Sonic The Hedgehog. “Sonic The Hedgehog 2,” the Paramount sequel about the iconic Sega video game character, notched an estimated $71 million domestically for its opening this weekend, according to the studio. That number not only exceeded expectations that had the film making closer to $50

By Paul R. La Monica, CNN Business The Federal Reserve’s interest rate hikes should boost lending profits for major financial firms. Now, the big banks will have the chance to prove to investors that they can thrive if rates continue to climb. JPMorgan Chase, Wells Fargo, Citigroup, Goldman Sachs and Morgan Stanley will all report

By Frank Pallotta, CNN Business “Saturday Night Live” opened Saturday’s episode with one of the biggest stories from this week: the historic confirmation of Ketanji Brown Jackson to the Supreme Court. “Wow, what a day,” President Joe Biden, played by James Austin Johnson, said during the NBC variety show’s cold open. “Your speech was terrific,

Opinion by Dana Peterson for CNN Business Perspectives How does a war on the other side of the world impact US consumers at home? In the case of Russia’s invasion of Ukraine, it’s felt at the dinner table: Yes, the war will likely be the main topic of dinner conversation, but it will also make

By Julia Horowitz, CNN Business When people took to the streets in Egypt in 2011, protesters chanted about freedom and social justice — but also bread. The cost of pantry staples had jumped because of the skyrocketing price of goods like wheat, stoking fury with President Hosni Mubarak. Now, more than a decade after the

By Anneken Tappe, CNN Business Having children is expensive, no matter where in the world you live. But, while America finds itself in the middle of the cost scale, China has become one of the priciest places to raise kids. South Korea tops the list of most expensive places to raise a child from birth