Money

By Jeanne Sahadi, CNN Business Soaring inflation. The war in Ukraine. Yet another rise in Covid cases. With so much going on this year it’s been hard to focus on things like filing your taxes. Nevertheless, the IRS still expects you to file your 2021 return and pay whatever you still owe by the filing

By Nadeen Ebrahim, CNN The Ukraine war is wreaking havoc on the world economy, but in the Middle East its impact hasn’t been so grim for everyone. Some of the world’s biggest hydrocarbon producers, the Gulf nations are seeing billions of dollars added to their coffers aided by a Ukraine war-driven rally in oil prices.

By Julia Horowitz, CNN Business Just three weeks ago, Starbucks announced that it had big plans to lavish its shareholders with new rewards. The company said it was reinstating its stock buyback program, touting a $20 billion commitment over the next three years. “While our growth this year will not be linear, we are confident

By Chris Isidore, CNN Business Elon Musk recently purchased 9.2% of Twitter stock, according to a filing Monday, making him the largest shareholder in the company. News of the purchase sent shares of Twitter soaring 22% in early trading. Musk did not disclose what he paid for the shares, but his stake was worth $2.9

By Ramishah Maruf, CNN Elon Musk’s ongoing legal battle with the Securities and Exchange Commission has a new player — rapper Eminem. Musk’s lawyer, Alex Spiro, quoted Eminem’s 2002 song “Without Me” in the latest effort to overturn a 2018 agreement which requires the billionaire to gain pre-approval for certain tweets. “The [SEC] won’t let

By Ramishah Maruf, CNN General Motors is recalling more than 680,000 SUVs due to a defect in their windshield wipers. The 2014 to 2015 Chevrolet Equinox and GMC Terrain vehicles are being recalled because the the windshield wipers could fall, due to the chance of its ball joints corroding or wearing away. The action covers

By Chris Isidore, CNN Business Tesla once again bucked auto industry trend and reported an increase in car sales, despite the shortages of computer chips and other logistical woes that have forced other carmakers to significantly scale back production. The company said it sold 310,000 cars in the first quarter, up only slightly from the

By Oliver Darcy, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. The largest LGBTQ advocacy group in the US has stripped Fox Corporation of its status as a preferred LGBTQ friendly employer and released a blistering statement condemning the network for

By Nicole Goodkind, CNN Business The seesaw first quarter of 2022 came to a bitter end this week, with major stock indexes suffering their worst performance in two years. Surging inflation, Russia’s invasion of Ukraine and a speed-up of the Federal Reserve’s rate-increase plan created a series of unique challenges for investors, which led to

By Chris Isidore, CNN Business The Biden administration Friday rolled out final emissions rules that will require cars and trucks to have an average fuel economy of 49 miles per gallon in just a few years. The rule comes as Americans are paying record prices for gas. Friday’s reading for the national average price for

By Paul R. La Monica, CNN Business The jobs market is still healthy and paychecks are growing at a solid rate — although not fast enough to make up for surging prices on just about everything. That means that the Federal Reserve is increasingly certain to raise interest rates in May by a half-point to

By Oliver Darcy and Brian Stelter, CNN White House press secretary Jen Psaki plans on departing the Biden administration in the coming weeks and heading to MSNBC, two people familiar with the matter told CNN on Friday. Psaki has not officially signed a contract with the progressive cable news network, but the talks are in

By Reuters Russian energy giant Gazprom said on Friday it was exiting its business in Germany, amid a dispute between the two countries over Moscow’s insistence on switching payments for Russian gas to rubles from euros. It was not immediately clear how the move would affect the supply of Russian gas, on which Germany depends

By Paul R. La Monica, CNN Business The “apes” bullish on GameStop may soon be able to buy their favorite stock at a much lower price. The meme darling of the Reddit crowd wants to initiate a stock split, a move that will drastically reduce the cost of one share, the company said late Thursday

By Julia Horowitz, CNN Business The epicenter of the latest effort to raise money for Ukraine was a bare-bones office above a bakery in north London. Isaac Kamlish, Nathan Cohen and Isaac Bentata — ages 23 to 25 — gathered around their laptops earlier this week and helped launch the first-ever sale of one-of-a-kind digital

By Mark Thompson, CNN Business Vladimir Putin’s deadline has come and gone and Russian natural gas is still flowing to Europe. The Russian president delivered an ultimatum Thursday to “unfriendly” nations to pay for their energy in rubles starting April 1 or risk being cut off from vital supplies. Was that a bluff? It’s too

By Julia Horowitz, CNN Business The US stock market just logged its most tumultuous quarter since the start of the pandemic, as rising inflation and Russia’s invasion of Ukraine spooked investors and encouraged companies to think twice about pursuing mergers or Wall Street debuts. What’s happening: The S&P 500 fell almost 5% between January and

By Anna Cooban, CNN Business Britons were hit Friday by a huge rise in energy bills, compounding the country’s worst cost-of-living crisis in decades. About 22 million households will see their annual bills soar to about £2,000 ($2,626) after the UK’s energy regulator lifted its price cap by 54% — the biggest jump since it

By Steve Contorno, CNN Florida Gov. Ron DeSantis on Thursday signaled support for stripping Disney of its 55-year-old special status that allows the entertainment company to operate as an independent government around its Orlando-area theme park. It’s the latest fallout in the feud between DeSantis, a Republican widely seen as a potential 2024 presidential contender,

By Mirna Alsharif, CNN Business A former Yale administrative employee pleaded guilty on Monday of defrauding the university of more than $40.5 million by reselling electronics purchased with school funds over at least an eight-year period, according to court documents. Jamie Petrone-Codrington, 42, who was director of finance and lead administrator at the medical school’s

By Anna Bahney, CNN Business The federal government’s emergency rental assistance program helped prevent more than one million evictions last year. An estimated 1.36 million renters avoided an eviction filing in 2021 as a result of the government’s unprecedented $46.5 billion rent relief program and other protections, according to a recent analysis by Princeton University’s

By Julia Chatterley Russia’s invasion of Ukraine has the world heading toward a global food crisis that could impact millions of people. But things are particularly dire in Ukraine. According to the World Food Programme, almost half of all Ukrainians are concerned about having enough food to eat. Among the many organizations that have offered

By Nathaniel Meyersohn, CNN Business Kohl’s is pushing back against intense pressure from Wall Street to make changes or sell the company. The retailer sent a sharply worded letter to shareholders Thursday ahead of the its annual meeting in May, urging them to reject an activist investor’s efforts to gain control of the company and

By Paul R. La Monica, CNN Business The stock market surged in March, but stumbled on the last day of the first quarter. And investors are reeling after a tough start to 2022. The Dow fell more than 550 points Thursday. It and the S&P 500 each dropped nearly 5% in the first three months

By Matt McFarland, CNN Business US roads saw the largest increase on record in deaths per mile traveled in 2020, including a 26% increase in hit-and-run fatalities that outpaced the increase in overall deaths. The National Highway Traffic Safety Administration released the data earlier this month. Hit-and-run deaths have grown steadily in the last 15

By Mark Thompson and Chris Liakos, CNN Business Russia has doubled down on its threat to cut off natural gas supplies to Western countries that refuse to pay in rubles, raising new concerns about an energy supply crunch and rationing in Europe. Moscow said last week it wanted to be paid in rubles, rather than

By Jordan Valinsky, CNN Business Former Disney CEO Bob Iger is breaking from his successor on Florida’s recently passed “Don’t Say Gay” law. Bob Chapek, Iger’s successor, initially opted not to speak out against the controversial law. But corporate executives should voice their opinions about ethical dilemmas, Iger recently told CNN+ host Chris Wallace. “A

By Anna Cooban, CNN Business Germany “will be poorer” because of Russia’s assault on Ukraine, the government’s economy minister has warned, as soaring energy prices fuel record inflation and threaten to tip Europe’s biggest economy into a recession. “It is not possible that this ends without costs for German society, it is unthinkable,” Robert Habeck

By Julia Horowitz, CNN Business Oil prices are pulling back sharply as investors gear up for the White House to potentially unleash a record amount of crude from US reserves in a bid to ease pressure at the pump following Russia’s invasion of Ukraine. What’s happening: President Joe Biden is weighing a plan to release

By Anneken Tappe, CNN Business The US jobs market has come a long way since the worst days of the pandemic when more than 20 million Americans lost their jobs. Now the recovery is moving into a new phase — one that will likely be slower. For Friday’s March jobs report, economists polled by Refinitiv

By Anna Bahney, CNN Business US home prices have soared to new heights and keep on climbing, and now some researchers and economists are saying they have seen signs of a housing bubble brewing. Home prices are rising faster than market forces would indicate they should and are becoming “unhinged from fundamentals,” according to a