CNN – Business/Consumer

By Parija Kavilanz, CNN Business Russia’s continuing assault in Ukraine has devastated the country and the lives of millions of its citizens. The youngest among them — Ukraine’s children — have been robbed of the ability to attend school and learn in a classroom, sitting next to their peers and friends. Since Russia invaded Ukraine

CNN By Anneken Tappe, CNN Business America’s employers added 428,000 jobs in April, the Bureau of Labor Statistics reported Friday. The unemployment rate held steady at 3.6%. The days of millions of job gains per month are behind us. That’s partly due to the fact that the recovery has come a long way, and partly

By Laura He, CNN Business Global shipping was just starting to recover from the chaos of the pandemic. Now port congestion and delays are back and could be around for a while. Covid lockdowns in China have wreaked havoc at Shanghai, the world’s biggest container port, and are now causing problems at other major ports

By Laura He and Mark Thompson, CNN Business Global markets slid Friday after Wall Street suffered its worst day of the year. Major European indexes dropped in early trading. They followed stocks in Asia, which sold off as China’s pledge to stick to its zero-Covid policy stoked concerns about the world’s second biggest economy. Hong

CNN, CNNBUSINESS By Julia Horowitz, CNN Business This newsletter yesterday highlighted warnings that market enthusiasm after the Federal Reserve’s latest meeting was misplaced. Investors quickly came to the same conclusion. What’s happening: After the S&P 500 rallied 3% on Wednesday, logging its best day in almost two years, it plunged 3.6% in an ugly trading

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 “I think an office as we know it is kind of an outdated notion,” Airbnb co-founder and CEO Brian Chesky said at the Wall Street Journal’s CEO Council Summit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