Money

Opinion by Joseph Stiglitz and Lori Wallach for CNN Business Perspectives If international organizations are subject to karma, last week’s abrupt postponement of the World Trade Organization (WTO) Ministerial Conference, the body’s first major decision-making gathering in four years, was fated to be. News of the emergence of Omicron, the latest coronavirus variant, not only

By Chris Isidore, CNN Business Just when US airlines thought they were on the verge of profitability again, along came the Omicron variant to put those hopes in doubt. Leisure travel is back to near pre-Covid levels. This Thanksgiving marked the busiest week for air travel since the start of the pandemic. But major US

By Anneken Tappe, CNN Business The Federal Reserve might end its pandemic-era stimulus sooner than expected, Chairman Jerome Powell told the Senate Banking Committee on Tuesday. The central bank announced a tapering of its monthly asset purchases at its monetary policy update earlier this month, cutting bond buying by $10 billion for Treasury securities and

By Walé Azeez, CNN Business European consumer prices are rising at their fastest pace since 1997. Annual inflation across the 19 countries that use the euro, including Europe’s largest economies Germany, France, Italy and Spain, hit 4.9% in November, driven mainly by soaring energy prices, according to Eurostat, the EU statistics office. That’s the highest

CNN, CNNBUSINESS By Matt Egan, CNN Business Commerce Secretary Gina Raimondo is concerned the Omicron coronavirus variant will exacerbate pressure on the already stressed-out global supply chain. “It’s way too soon to tell. But I do worry, because we know people are afraid to go to work,” Raimondo told CNN during an interview at her

By Paul R. La Monica, CNN Business It looks like Tesla’s Elon Musk isn’t the only high profile CEO getting rid of shares in the company they run. Microsoft chairman and CEO Satya Nadella has shed more than half of his stake in the software giant in the past week. Nadella sold nearly 840,000 shares

By Julia Horowitz, CNN Business The rapid onset of concerns about the Omicron variant of the coronavirus has ushered in a period of fresh market anxiety as investors wait for more information about what it could mean for the trajectory of the pandemic. But what if the variant turns out not to be so bad

CNN, SHOPIFY By Nathaniel Meyersohn, CNN Business Dollar Tree is throwing away those green “Everything’s $1” signs at stores, ditching the brand identity it created and stuck to devotedly for 35 years. The chain said last week that it will permanently raise prices by 25% on the majority of its products. Dollar Tree has already

By Jordan Valinsky, CNN Business Cyber Monday sales amounted to $10.7 billion, which is higher than the underwhelming Black Friday tally but still $100 million less compared to last year. That figure, released Tuesday from Adobe, is a 1.4% decrease from the record-breaking Cyber Monday total in 2020 when the online sales event raked in

By Nathaniel Meyersohn, CNN Business Dollar Tree is throwing away those green “Everything’s $1” signs at stores, ditching the brand identity it created and stuck to devotedly for 35 years. The chain said last week that it will permanently raise prices by 25% on the majority of its products. Dollar Tree has already made the

By Laura He, CNN Business China’s economy is finally getting some good news: Its big factories are staging a recovery as a power crunch that held back production starts to ease because of a big jump in coal supply. A government survey of manufacturing activity increased to 50.1 in November from 49.2 in October, according

By Jill Disis, CNN Business Global stocks and oil prices fell again Tuesday after a brief respite from the heavy sell-off triggered by the emergence of the Omicron coronavirus variant. Stocks in Asia Pacific and Europe slid, while Wall Street opened weaker. Oil prices fell about 3% as more countries reported cases of the variant