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By Mark Thompson and Chris Liakos, CNN Business One of Russia’s richest men has quit as CEO of Lukoil, the country’s second-largest oil company. In a brief statement Thursday, Lukoil said Vagit Alekperov informed the company “about his decision to resign” as a director and president of the company. The company did not disclose the

By Anneken Tappe, CNN Business A half-percentage point interest rate hike is officially on the table, Federal Reserve Chairman Jerome Powell said Thursday, as the central bank prepares to get inflation under control. “50 basis points will be on the table for the May meeting,” Powell said during a panel at the International Monetary Fund

By Frank Pallotta, CNN Business Call Eleven and Sheriff Hopper of “Stranger Things,” because Netflix’s world has been turned upside down. The company reported Tuesday that it lost subscribers for the first time in more than a decade. The news shocked Wall Street and sent shares plummeting 35% Wednesday morning, wiping out $50 billion in

By Julia Horowitz, CNN Business The International Monetary Fund has slashed its expectations for global economic growth over the next two years because of Russia’s invasion of Ukraine, comparing the ripple effects from the conflict to an “earthquake.” “The economic effects of the war are spreading far and wide,” the organization said in its latest

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 Matt Egan, CNN Business Oil prices fell sharply Monday as Covid lockdowns in China stoked concerns that the country’s zero-Covid strategy will sap energy demand in the world’s second-largest economy. US oil dropped 5.6% to a two-week low of $96.33 a barrel Monday morning, while Brent, the world benchmark, fell 4.9% to $101.43 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,

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

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 Theresa Waldrop and Luis Jaime Rodríguez, CNN A SpaceX Falcon 9 rocket once again successfully launched a US spy satellite from the Vandenberg Space Force Base in California, the company said. The Falcon 9 was developed by Elon Musk’s SpaceX to be the first orbital-class rocket capable of launching multiple missions, as a way

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 Ramishah Maruf, CNN It’s hard to find out what’s going on inside Russia as its attack on Ukraine rages. So those looking for news of what’s going on there are looking to neighboring Estonia, CNN’s Scott Mclean reported from its capital Tallinn, for “Reliable Sources” Sunday. “Eastern neighbors in Estonia have long been hooked

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 Zoe Sottile, CNN Peep, peep: Springtime’s favorite candy is back, now in the form of Peeps-flavored ice cream. Cold Stone Creamery is selling a chilly twist on the classic chick-shaped marshmallows with Peeps sundaes, which you can have delivered to your home for free on Easter. The treat consists of Peeps-flavored ice cream with

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