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By Jordan Valinsky, CNN Business Former Disney CEO Bob Iger is breaking from his successor on Florida’s recently passed “Don’t Say Gay” law. Bob Chapek, Iger’s successor, initially opted not to speak out against the controversial law. But corporate executives should voice their opinions about ethical dilemmas, Iger recently told CNN+ host Chris Wallace. “A
Continue ReadingBy Anna Bahney, CNN Business Mortgage rates rose again this week as the conflict in Ukraine and rising inflation continued to weigh on the US economy. The 30-year fixed-rate mortgage averaged 4.67% in the week ending March 31, up from 4.42% the week before, according to Freddie Mac. Rates climbed in the face of rising
Continue ReadingCNN, CNN BUSINESS By Jackie Wattles, CNN Business Jeff Bezos’ Blue Origin just launched its fourth successful space tourism mission, putting yet another feather in the cap of the company that hopes to make these supersonic joyrides a mainstay of pop culture. The six passengers, which include a Blue Origin engineer and five paying customers,
Continue ReadingBy Danielle Wiener-Bronner, CNN Business Restaurants are raising menu prices as wages grow and inflation hits ingredients and packaging. But they still want customers to feel like they’re getting a good deal. That’s a tricky proposal, especially for fast food, fast casual and casual dining restaurants — places where low prices are part of the
Continue ReadingBy Anneken Tappe, CNN Business America’s inflation problem didn’t abate in February, as another key price measure rose to a 40-year high. The Personal Consumption Expenditures price index rose 6.4% in February from the same period a year earlier. It was the fastest increase since January 1982, the Bureau of Economic Analysis reported Thursday. Stripping
Continue ReadingBy Anna Cooban, CNN Business Germany “will be poorer” because of Russia’s assault on Ukraine, the government’s economy minister has warned, as soaring energy prices fuel record inflation and threaten to tip Europe’s biggest economy into a recession. “It is not possible that this ends without costs for German society, it is unthinkable,” Robert Habeck
Continue ReadingCNN+, WHO’S TALKING TO CHRIS WALLACE, CNN, CNN+/Who’s Talking to Chris Wallace By Anna Cooban, CNN Business Germany “will be poorer” because of Russia’s assault on Ukraine, the government’s economy minister has warned, as soaring energy prices fuel record inflation and threaten to tip Europe’s biggest economy into a recession. “It is not possible that
Continue ReadingBy Julia Horowitz, CNN Business Oil prices are pulling back sharply as investors gear up for the White House to potentially unleash a record amount of crude from US reserves in a bid to ease pressure at the pump following Russia’s invasion of Ukraine. What’s happening: President Joe Biden is weighing a plan to release
Continue ReadingCNN By Charles Riley, CNN Business The barrage of sanctions imposed by the West following Russia’s invasion of Ukraine decimated the ruble. But one month after the tanks rolled, the currency has made a full recovery and is now trading at levels seen prior to the war. How is that possible? Russia’s central bank has
Continue ReadingBy Anneken Tappe, CNN Business The US jobs market has come a long way since the worst days of the pandemic when more than 20 million Americans lost their jobs. Now the recovery is moving into a new phase — one that will likely be slower. For Friday’s March jobs report, economists polled by Refinitiv
Continue ReadingCNN By Jackie Wattles, CNN Business Amazon is moving its business into the exosphere, with plans to deploy more than 3,000 satellites to beam internet connectivity all over the planet. On Tuesday, the company announced deals with three rocket companies that will launch those satellites. The agreement includes two veteran rocket builders — United Launch
Continue ReadingBy Jackie Wattles, CNN Business Jeff Bezos’ Blue Origin just launched its fourth successful space tourism mission, putting yet another feather in the cap of the company that hopes to make these supersonic joyrides a mainstay of pop culture. The six passengers, which include a Blue Origin engineer and five paying customers, boarded their New
Continue ReadingBy Alicia Wallace, CNN Business For the past few years, developer and home builder Estridge Homes could bank on the price quotes it received for asphalt holding steady for at least nine months. That window is now 15 days. For many home builders, supply chain disruptions from the pandemic have meant garage doors are on
Continue ReadingBy Charles Riley, CNN Business The barrage of sanctions imposed by the West following Russia’s invasion of Ukraine decimated the ruble. But one month after the tanks rolled, the currency has made a full recovery and is now trading at levels seen prior to the war. How is that possible? Russia’s central bank has taken
Continue ReadingBy Matt Egan, CNN Business Oil prices will probably stay near triple-digits and could even spike to $150 a barrel if the war in Ukraine severely disrupts Russia’s energy supplies, Joe McMonigle, the secretary general of the International Energy Forum, told CNN. McMonigle, whose organization serves as a go-between for energy consuming countries like India,
Continue ReadingBy Anna Bahney, CNN Business US home prices have soared to new heights and keep on climbing, and now some researchers and economists are saying they have seen signs of a housing bubble brewing. Home prices are rising faster than market forces would indicate they should and are becoming “unhinged from fundamentals,” according to a
Continue ReadingBy Sonia Moghe, CNN A Connecticut judge is holding notorious conspiracy theorist Alex Jones in contempt of court after he failed to comply with multiple orders for Jones to sit for a deposition in a defamation suit brought against him by families of victims of the Sandy Hook shooting. The judge did, however, stop short
Continue ReadingBy Brian Fung, CNN Business One of President Joe Biden’s key administrative nominees is a step closer to confirmation after Alvaro Bedoya, Biden’s pick for Federal Trade Commissioner, narrowly cleared a key procedural vote in the Senate on Wednesday. The decision paves the way for a final floor vote on Bedoya’s nomination, to be held
Continue ReadingBy Chris Isidore, CNN Business Tesla shares have been on a tear in recent weeks as Elon Musk marked the company’s first deliveries from its new Berlin factory, easing investors’ fears about whether the EV maker would receive the necessary approvals from the German government. “I’d say 30% of investors we talked to over the
Continue ReadingOpinion by Senator Markey and Mark Wolfe for CNN Business Perspectives The surging and volatile oil and gas prices created by Russian President Vladimir Putin’s war on Ukraine highlights the urgent need for the US to reduce its dependence on foreign oil and natural gas and accelerate its move to cleaner energy sources. Never before
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