Money

By Chris Liakos and Anna Cooban, CNN Business Russian metals company Rusal has called for an investigation into the killing of civilians in Bucha, a suburb of the Ukrainian capital Kiev. Rusal Chairman Bernard Zonneveld said in a statement that recent reports of atrocities from the town, which was occupied by Russian troops for a

By Anneken Tappe, CNN Business Americans got into a lot more debt in February as rampant inflation kept up the pressure, the Federal Reserve’s consumer credit report showed Thursday. Debt levels jumped by nearly $42 billion to a total of almost $4.5 trillion. That’s an annual increase of 11.3%, seasonally adjusted, far outperforming economists’ expectations

By Anna Bahney, CNN Business As both home prices and mortgage rates rise, buying a home is increasingly unaffordable for a growing number of Americans. Home prices in the first quarter were up by at least 10% from a year ago in two-thirds of the counties tracked in a new report from real estate data

By Brian Stelter, CNN Business Discovery chief executive David Zaslav on Thursday announced the leadership team for Warner Bros. Discovery, the media conglomerate that will be formed within days when Discovery’s acquisition of WarnerMedia is completed. A raft of WarnerMedia executives have announced their exits in recent days, including CEO Jason Kilar. But some Warner

By Alicia Wallace, CNN Business The war in Ukraine has thrown the global economy into chaos — and the worst is yet to come, experts say. The conflict has disrupted logistics, business operations and trade pipelines across the world: sea, land and air freight are taking roundabout routes to avoid no-fly zones and hazards of

By Chris Isidore, CNN Business Sanctions put in place in response to Russia’s invasion of Ukraine have caused the nation’s air carriers to lose 79 of their commercial jets, nearly 10% of their combined fleets. The sanctions by multiple countries require the international aircraft leasing companies that own the jets to have repossessed them by

By Nathaniel Meyersohn, CNN Business Walmart is raising pay for long-haul truck drivers, a taxing job that is increasingly difficult for companies to fill. Walmart, one of the few retail chains that runs its own trucking fleet, said it’s raising the average starting salary for first-year drivers from around $88,000 to a range of $95,000

By Anna Bahney, CNN Business As if home prices in the US weren’t high enough, now they’re getting even more expensive. Stubbornly low numbers of homes for sale continue to push prices higher and mortgage rates are rising faster than they have in decades. That has put the squeeze on home buyers and the real

By Paul R. La Monica, CNN Business Good news for student loan holders is bad news for anyone who happens to be an investor in fintech company SoFi. Shares of SoFi tumbled 7% Thursday after the Biden administration extended a moratorium on federal student loan repayments. SoFi offers private student loans and refinancings to undergraduates

By Anneken Tappe, CNN Business America’s labor market is on fire. There are far more available jobs than workers and the latest data on initial weekly unemployment claims underscores that imbalance. Initial claims for jobless benefits fell to 166,000 in the week ended April 2, adjusted for seasonal swings, the Labor Department reported Thursday. That

By Peter Valdes-Dapena, CNN Business With the GMC Hummer EV, General Motors designers and executives wanted to create a vehicle that would destroy stereotypes about electric vehicles and what they’re capable of doing. On that count, the GMC Hummer EV is a remarkable success. It is unlike any EV — or really, any vehicle with

By Julia Horowitz, CNN Business For years, billionaire investor Warren Buffett has been sitting on a mountain of cash. But with stocks at record highs, he struggled to find deals that caught his eye. Now, with many other investors in selling mode, he’s going shopping. What’s happening: Buffett’s Berkshire Hathaway just disclosed that it bought

By Oliver Darcy, CNN Business NBC News journalists are troubled by and have expressed dismay to network executives about MSNBC’s intention to hire White House press secretary Jen Psaki when she exits the Biden administration, people familiar with the matter told CNN. Noah Oppenheim, the NBC News president, even held an impromptu phone call Friday

By Chris Isidore, CNN Business Elon Musk has gotten a lot of attention from buying a 9.1% stake in Twitter, along with landing a seat on the company’s board. He’s also worth an additional $1 billion. In a new filing late Tuesday, Musk disclosed how much he paid for the 73 million shares he started

By David Goldman, CNN Business The West is tapping more of its emergency oil reserves to help wean itself off Russian crude. The International Energy Agency announced Wednesday it would supply the oil market with 60 million additional barrels of crude from its emergency stockpiles. The Paris-based IEA, which monitors energy supplies for the world’s

By Parija Kavilanz, CNN Business H&M is coming out with a new line of baby clothes that can be recycled in an unexpected way once they’re worn out — composting. The 12-piece organic cotton collection for newborns (priced from $4.99 to $17.99) launches in May and includes tops, bottoms with adjustable waistbands and cuffs, jackets,

By Paul R. La Monica, CNN Business It’s looking awful gloomy out there on Wall Street. Traders are making big bets against retailers as recession fears gain steam. Investors are growing more skeptical of energy stocks following the spike in oil prices, according to S&P Global Market Intelligence. And investors are souring on health care

By Matt McFarland, CNN Business Building a cheap car that is also profitable for the manufacturer is shockingly difficult. Because of the high cost of battery components, it becomes even more difficult if that car is electric. But Honda and General Motors, two of the biggest car companies in the world, believe they can crack

By Anneken Tappe, CNN Business America’s soaring inflation is inflicting pain on household budgets across the United States. But not everyone is affected in the same way. While economic data shows the general trend of prices, it doesn’t tell the story of individual groups, said Federal Reserve Governor Lael Brainard on Tuesday. “Today, inflation is

By Anna Cooban, CNN Business European leaders are planning to phase out Russian coal imports in response to harrowing scenes in Bucha, a suburb of Kyiv. On Tuesday, the European Commission proposed a ban on €4 billion ($4.3 billion) worth of Russian coal imports per year as part of a fifth package of sanctions designed

By Oliver Darcy and Brian Stelter, CNN Business WarnerMedia chief executive Jason Kilar announced Tuesday that he will depart the company given that Discovery’s acquisition of the media conglomerate is almost complete. “With the pending transaction with Discovery nearing close, now is the right time to share with each of you that I will be

By Paul R. La Monica, CNN Business How crazy rich is Elon Musk? The Tesla and SpaceX CEO’s net worth is now about a stratospheric $300 billion, according to Forbes’ real time rankings of the world’s wealthiest people. That means the 50-year-old Musk has a more than a $100 billion lead over second place Jeff

By Mark Thompson and Chris Liakos, CNN Business Europe is planning to cut deeper into the Russian economy with a new round of sanctions that includes a ban on coal imports. It’s also working on sanctions that could target Russian oil. The measures were announced Tuesday by European Commission President Ursula von der Leyen and

By Tiffany Anthony and Nicole Chavez, CNN A judge in Los Angeles has ruled a law requiring public companies headquartered in California to diversify their boards violates the state’s constitution, court documents show. On Friday, Judge Terry Green of Los Angeles County Superior Court sided with Judicial Watch, a conservative legal group that filed a

By Matt Egan, CNN Business Two top House Democrats are pushing the CEOs of ExxonMobil, Chevron, BP and Shell to scrap their stock buyback and dividends during the war in Ukraine and shift funding for those shareholder rewards towards lowering prices at the gas pump. “As Vladimir Putin’s illegal war against Ukraine is raising gas

By Paul R. La Monica, CNN Business Are upper middle class and affluent shoppers starting to feel the pinch from higher prices and geopolitical concerns? If so, what does that mean for the rest of American consumers? Stock market volatility, inflation and concerns about rising interest rates could soon slow all parts of the economy

By Kathryn Vasel Amid America’s Great Resignation, millions of workers continue to leave their jobs. In February, 4.4 million employees quit, according to the Labor Department, and the unemployment rate dropped to a pandemic-era low of 3.6% in March. But despite headlines about employers struggling to attract and hire workers, finding a new job can