Skip to Content
CNN By Anneken Tappe, CNN Business America’s inflation problem didn’t abate in March. Prices kept creeping up, hitting a fresh 40-year high, data from the Bureau of Labor Statistics showed Tuesday. The Consumer Price Index rose 8.5% for the year ended in March, not adjusted for seasonal swings. That outpaced February’s elevated reading of 7.9%
Continue ReadingBy Anneken Tappe, CNN Business Having children is expensive, no matter where in the world you live. But, while America finds itself in the middle of the cost scale, China has become one of the priciest places to raise kids. South Korea tops the list of most expensive places to raise a child from birth
Continue ReadingBy Brian Stelter, CNN Business Discovery’s merger with WarnerMedia took effect on Friday afternoon, creating a streaming media giant led by CEO David Zaslav. The deal combines two treasure troves of content and foreshadows further changes in the streaming era. The newly formed company, Warner Bros. Discovery, will begin publicly trading on Monday. Zaslav said
Continue ReadingBy Frank Pallotta, CNN Business “Dancing with the Stars” is headed to streaming. Disney announced Friday that the series, in which celebrities compete to be named the best ballroom dancer, will exclusively air on Disney+ in the US and Canada starting in the fall. It’s the first live series to debut on the streaming service,
Continue ReadingCNN By Paul R. La Monica, CNN Business The globally loved Formula 1 racing is winning more US fans, thanks largely to Netflix’s popular “Drive to Survive” reality show and ESPN’s coverage of the races. And F1’s stock is red hot, too. The company is owned by Liberty Media — the conglomerate controlled by John
Continue ReadingBy Paul R. La Monica, CNN Business The globally loved Formula 1 racing is winning more US fans, thanks largely to Netflix’s popular “Drive to Survive” reality show and ESPN’s coverage of the races. And F1’s stock is red hot, too. The company is owned by Liberty Media — the conglomerate controlled by John Malone
Continue ReadingBy Anna Cooban, CNN Business European leaders have agreed to phase out Russian coal imports as part of a new package of sanctions triggered by evidence of atrocities in Bucha, Ukraine. An oil embargo could be next. All forms of Russian coal will be banned from the European Union, a move that the European Commission
Continue ReadingBy Jeanne Sahadi, CNN Business You know you have to pay taxes. So you may not be eager to spend yet more money to work with a tax professional. But since taxes affect most areas of your life — and since tax laws change all the time — there are several situations when it makes
Continue ReadingBy Julia Horowitz, CNN Business Investors are worried that the risks of a recession are rising in the United States. In Europe, they fear economies could also stall while inflation soars, delivering the toxic combination known as “stagflation.” That’s encouraging Wall Street to buy up defensive stocks that have historically performed well even under difficult
Continue ReadingBy 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
Continue ReadingBy Danielle Wiener-Bronner, CNN Business A deadly and highly infectious avian flu is forcing US farmers to kill millions of egg-laying hens, reducing the country’s egg supply and driving up prices. On Thursday, retailers paid between $2.80 and $2.89 for a dozen large grade A white eggs in the Midwest, according to the USDA’s daily
Continue ReadingBy Laura He, CNN Business China’s unwavering commitment to stamping out Covid by locking down big cities such as Shanghai threatens to deal a hefty shock to its vast economy, place more strain on global supply chains and further fuel inflation. Shanghai — home to China’s leading financial center and some of its largest sea
Continue ReadingBy Matt McFarland, CNN Business Tesla held a party Thursday night to mark the opening of its new manufacturing plant in Austin, Texas. Tesla’s new factory will initially produce the Model Y SUV and, next year, the Cybertruck, which has been delayed since being first revealed in 2019. The Texas factory, Tesla’s fourth assembly plant
Continue ReadingBy 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
Continue ReadingBy 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
Continue ReadingBy 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
Continue ReadingBy 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
Continue ReadingBy 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
Continue ReadingBy 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
Continue ReadingBy 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
Continue Reading