CNN – Business/Consumer

By Kathryn Vasel, CNN Business Airbnb recently told employees they can work remote permanently, but when they do return to the office it’ll likely look different. “I think an office as we know it is kind of an outdated notion,” Airbnb co-founder and CEO Brian Chesky said at the Wall Street Journal’s CEO Council Summit

Opinion by Paul Hockenos for CNN Business Perspectives Russia’s announcement last week that it was halting all gas deliveries to Poland and Bulgaria may have sounded like a bombshell, perhaps even presaging a complete suspension of gas flows to all of Europe. This certainly was Russian president Vladimir Putin’s intent: to strike fear into the

By Anna Cooban, CNN Business Europe has finally proposed a ban on Russian oil, but has again stopped short of using its most potent weapon — sanctioning Russia’s natural gas. On Wednesday, the European Commission put forward a sixth package of sanctions against Russia over the war in Ukraine, which includes a plan to phase

By Paul R. La Monica, CNN Business The Federal Reserve finally seems prepared to whip inflation. The last time the Fed faced surging prices like this, it jacked up interest rates and the US economy endured multiple slowdowns. Do Americans need to fear a repeat of the early 1980s? Many investors and economists worry that

By Nicole Goodkind, CNN Business So much for the good feelings on Wall Street. US markets fell sharply Thursday, marking their worst day of the year and eviscerating all of the gains from Wednesday after the Federal Reserve’s announcement of its plans to increase in its benchmark interest rate won over investors. Fed Chair Jerome

CNN, CNN BUSINESS By Nathaniel Meyersohn, CNN Business Tripped-up supply chains and a coronavirus surge in China are causing headaches for top athletic brands. Under Armour tumbled 25% Friday after the company posted a $60 million loss during its most recent quarter due to supply chain delays and recent Covid-19 lockdowns in China. Chinese authorities

CNN By Anna Bahney, CNN Business Mortgage rates rose this week, continuing an upward trend that has pushed rates more than two percentage points higher this year. The 30-year fixed-rate mortgage averaged 5.27% in the week ending May 5, up from 5.10% the week before, according to Freddie Mac. It is the highest since 2009

By Julia Horowitz, CNN Business When the Federal Reserve decides it’s necessary to pursue the biggest interest rate hike since 2000, you wouldn’t expect a moment of celebration on Wall Street. But that’s exactly what happened on Wednesday. The S&P 500 jumped 3%, logging its best day in almost two years. The Dow rose 2.8%,

CNN, HLN By Anneken Tappe, CNN Business The days of millions of job gains per month are behind us and the US labor market recovery has moved into a new phase, complete with new challenges: It’s not that companies don’t want to hire, it’s that there were nearly two available positions for every unemployed person

By Esha Mitra and Rhea Mogul, CNN A 13-year-old girl who was allegedly gang-raped by four men in India, was allegedly raped again by a police officer after she tried to seek his help in reporting the initial attack. Authorities in Uttar Pradesh confirmed Wednesday a police officer had been arrested in connection with the

By Laura He, CNN Business China’s gigantic services sector just contracted at the second sharpest pace on record as Covid lockdowns hit businesses hard. The Caixin purchasing managers’ index, a closely-watched indicator for assessing the state of the economy, plummeted to 36.2 in April from 42 in March, according to a survey released by IHS

By Matt Egan, CNN Business The Federal Reserve is stepping up its war on inflation. That means borrowing costs are going sharply higher for families and businesses. The US central bank increased its benchmark interest rate by three-quarters of a percentage point on Wednesday, which is the biggest single hike since 1994. This follows the

CNN, CNNBUSINESS By Allison Morrow, CNN Business Around the world, warning signs of a recession are flashing. Wall Street is on edge. Central banks are hiking interest rates to try to rein in inflation. And geopolitical upheaval is exacerbating supply chain headaches that began in 2020. “We will get a major recession,” Deutsche Bank economists