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Opinion by Nikos Tsafos for CNN Business Perspectives In a matter of weeks, the war in Ukraine has upended an energy relationship between Europe and Russia that goes back decades. Europe understands that it cannot sever ties with Russia overnight, as it still needs Russian energy. But Russia’s role in the European and global energy
Continue ReadingBy Jeanne Sahadi, CNN Business Unless you enjoy throwing money away, you’ll want to do all you can to avoid being hit with tax penalties and interest if you end up owing money to the IRS on your 2021 tax return. Even a relatively small balance owed can balloon quickly. Say you owe the IRS
Continue ReadingBy Anna Bahney, CNN Business Mortgage rates continued to rise amid fears of inflation and geopolitical uncertainty. The 30-year fixed-rate mortgage averaged 4.42% in the week ending March 24, up from 4.16% the week before, according to Freddie Mac. The 30-year fixed-rate mortgage increased by more than a quarter of a percentage point as mortgage
Continue ReadingBy Paul R. La Monica, CNN Business Just 187,000 people in the United States filed for initial weekly unemployment benefits last week, lower than economists’ expectations of 210,000, according to data released Thursday by the Department of Labor. The last time the weekly number was that low was September 6, 1969, shortly after Neil Armstrong
Continue ReadingBy Anna Cooban, CNN Business Russia’s invasion of Ukraine has ended globalization as we know it, says the head of BlackRock, the world’s largest asset manager. BlackRock CEO Larry Fink told shareholders in a letter on Thursday that Russia’s “decoupling from the global economy” following its assault on Ukraine has caused governments and companies to
Continue ReadingBy Becky Anderson, Mostafa Salem and Adam Pourahmadi, CNN Business Qatar will stand “in solidarity with Europe” and will keep natural gas flowing there, even if other customers are willing to pay more, Qatari Energy Minister Saad Sherida Al-Kaabi told CNN’s Becky Anderson in an exclusive interview on Thursday. The Gulf monarchy supplies some European
Continue ReadingBy David Goldman, CNN Business As Russian soldiers bear down on Ukraine, increasingly desperate Ukrainians are running out of food and medicine. The economic fallout from the invasion is beginning to spill over to the rest of the world, too. Forecasts for global growth are being slashed and the chance of a US recession in
Continue ReadingCNN By David Goldman, CNN Business As Russian soldiers bear down on Ukraine, increasingly desperate Ukrainians are running out of food and medicine. The economic fallout from the invasion is beginning to spill over to the rest of the world, too. Forecasts for global growth are being slashed and the chance of a US recession
Continue ReadingBy Charles Riley, CNN Business Russia is breaking market rules left and right as its financial isolation deepens. The latest: Russia’s stock market reopened on Thursday after it was shuttered for a month. Under normal circumstances, there wouldn’t be much demand for shares in Russian companies considering they do most of their business in an
Continue ReadingBy Charles Riley, CNN Business Russia’s stock market opened for the first time in a month on Thursday as investors took part in a highly restricted trading session. The benchmark MOEX index gained as much as 10% in early trade in Moscow and ended the day 4.4% higher. Russia’s central bank has banned short sales,
Continue ReadingCNN By Xiaofei Xu, CNN French carmaker Renault announced in a statement Wednesday that it has suspended all activities at its Moscow factory. The announcement comes as Ukrainian leaders have called for a boycott against the company, and accused Renault of “sponsoring Russia’s war machine.” Just one day earlier, Renault had said it was resuming
Continue ReadingBy Xiaofei Xu, CNN French carmaker Renault announced in a statement Wednesday that it has suspended all activities at its Moscow factory. The announcement comes as Ukrainian leaders have called for a boycott against the company, and accused Renault of “sponsoring Russia’s war machine.” Just one day earlier, Renault had said it was resuming production
Continue ReadingBy Uliana Pavlova and Brian Stelter, CNN A Russian journalist working for the independent news site The Insider was killed in a shelling incident in Kyiv, the outlet said in a statement on Wednesday. Oksana Baulina had been filming the shelling destruction in the capital’s Podilskyi District by Russian troops when she came under rocket
Continue ReadingBy Pete Muntean, CNN The CEOs of 10 airlines and cargo carriers have signed a letter to President Joe Biden saying he should end the transportation mask mandate and testing requirements for international travelers. In a new letter, industry group Airlines for America wrote, “now is the time for the Administration to sunset federal transportation
Continue ReadingBy Chris Isidore, CNN Business For many drivers in California, the possibility of paying $6 a gallon for gas is no longer something to worry about down the road. It’s already a reality. In Los Angeles County, by far the nation’s most populous with more than 10 million residents, gas now has reached an average
Continue ReadingBy Anna Bahney and Donald Judd, CNN The White House on Wednesday announced new actions to counter racial and ethnic bias in home valuations. Vice President Kamala Harris unveiled a 21-point plan that seeks to help homeowners impacted by bias in the appraisal process during an event with Housing and Urban Development Secretary Marcia Fudge
Continue ReadingBy Matt McFarland, CNN Business Tesla recently issued four vehicle recalls in a 12-day span. But Tesla owners did not have to rush their cars to the nearest dealership to fix the safety issues, which ranged from its “full self-driving” driver assist function rolling through stop signs, to some windshields not properly defrosting. Instead, Tesla
Continue ReadingBy Frank Pallotta, CNN Business Amazon has found its announcers for “Thursday Night Football.” Al Michaels and Kirk Herbstreit will be the play-by-play announcers for Amazon Prime Video’s exclusive coverage of “Thursday Night Football” starting next season, kicking off with a September 15 telecast. Landing Michaels, one of the most iconic announcers in sports history,
Continue ReadingBy Paul R. La Monica, CNN Business Here’s a promising sign from Wall Street: Transportation stocks are leading the stock market this year, and that could bode well for the broader economy. The Dow Jones Transportation Average, a group of 20 stocks that includes major railroads, truckers, airlines and freight companies, is up about 7%
Continue ReadingBy Matt Egan, CNN Business Oil prices rose sharply Wednesday after Russia warned a major oil pipeline could be out of service for more than a month due to storm damage, amplifying supply shortfalls caused by the war in Ukraine. News of the outage helped drive US oil prices 5.2% higher to settle at $114.93
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