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By Paul R. La Monica, CNN Business The Federal Reserve has already raised interest rates once this year and is likely to keep hiking them for the rest of 2022. Investors have largely brushed off worries about higher rates, with the hope that the increases will ease inflation pressures without slowing down the economy too
Continue ReadingBy Lucy Bayly, CNN Business The bond market is flashing a warning sign that has correctly predicted almost every recession over the past 60 years: a potential inversion of the US Treasury note yield curve. An inverted yield curve is often seen as a signal that investors are more nervous about the immediate future than
Continue ReadingBy Nicole Goodkind, CNN Business Former Federal Reserve head Alan Greenspan has a keen interest in men’s underwear. Not because he’s preoccupied with the evolving fashions of nether garments — rather, he sees underwear sales as a key economic predictor. Sounds weird, right? But it’s just one of the many strange ways experts try to
Continue ReadingBy Nathaniel Meyersohn, CNN Business Saving money can take a little extra effort: clipping coupons, searching for a promotional code, signing up for an email list…. But Amazon sometimes makes us check a box to save. Huh? Those orange “coupon” banners below the price on Amazon’s online store are a head-scratcher. Why does Amazon make
Continue ReadingBy Frank Pallotta, CNN Business Netflix has accomplished a lot in Hollywood: It’s partnered with notable filmmakers, produced buzzy hit films and launched the streaming craze that revolutionized the industry. Yet there’s one coveted Tinseltown accolade Netflix hasn’t received: the Academy Award for best picture. That could change this weekend. Netflix’s film “The Power of
Continue ReadingCNN By Rishi Iyengar, CNN Business On March 14, the same day Russia banned Instagram, Russian tech entrepreneur Alexander Zobov announced he would soon launch a local version of the popular photo and video sharing app called Rossgram. Zobov and his team “were already prepared for this outcome of events in advance and decided not
Continue ReadingBy Clare Duffy, CNN Business TikTok has been hit with another lawsuit from former content moderators who claim the job traumatized them. Ashley Velez and Reece Young, former contract content moderators for TikTok, allege that their work involved reviewing “unfiltered, disgusting and offensive content,” including “child sexual abuse, rape, torture, bestiality, beheadings, suicide, and murder,”
Continue ReadingBy Oliver Darcy, CNN Business A judge in Washington D.C. on Thursday dismissed a high-profile case filed by a Washington Post politics reporter who alleged that the newspaper and its former top editor subjected her to unlawful discrimination after she publicly said that she had been the victim of sexual assault. The reporter, Felicia Sonmez,
Continue ReadingBy Matt Egan, CNN Business Inflation is so hot that Wall Street banks are falling over each other to predict the dramatic moves the Federal Reserve will have to make to cool prices off. Goldman Sachs raised eyebrows earlier this week by forecasting the Fed will raise interest rates by a half a percentage point
Continue ReadingBy Sara Ashley O’Brien, CNN Business Instacart’s valuation doubled twice to $39 billion in the first year of the public health crisis, fueled by a pandemic boon to its on-demand grocery delivery business. Now it’s falling back to earth. On Thursday, the decade-old, privately-held startup informed its 3,000 corporate employees that it is revising its
Continue ReadingBy Brian Fung, CNN European officials have reached agreement on a sweeping set of competition rules for Big Tech that could mark a global turning point for technology regulation. The proposed framework, known as the Digital Markets Act, could label large companies such as Facebook-parent Meta or Google as “gatekeepers,” and subject them to new
Continue ReadingBy Brian Fung, CNN The White House has hammered out a new agreement with the EU that could again allow businesses to transfer data and personal information across the Atlantic, a highly-anticipated move that could provide assurance to thousands of companies after Europe’s top court struck down the deal’s predecessor in 2020. In joint remarks
Continue ReadingCNN By Brian Fung, CNN The White House has hammered out a new agreement with the EU that could again allow businesses to transfer data and personal information across the Atlantic, a highly-anticipated move that could provide assurance to thousands of companies after Europe’s top court struck down the deal’s predecessor in 2020. In joint
Continue ReadingBy Alicia Wallace, CNN Business Consumer sentiment slumped again in March, hitting its lowest level since August 2011, the University of Michigan reported Friday. High inflation, volatile oil prices, geopolitical unrest and now rising interest rates, have left consumers with a bitter taste about the state of the US economy. The March index was revised
Continue ReadingCNN By Matt Egan, CNN Business The House Oversight Committee launched a probe Monday into Credit Suisse, demanding documents linked to the bank’s compliance with sanctions on Russian oligarchs. In a letter to Credit Suisse CEO Thomas Gottstein, US lawmakers asked the bank to turn over information and documents about a portfolio of loans backed
Continue ReadingBy Abbas Al Lawati, CNN “It’s always nice to be wanted,” Qatar’s energy minister Saad Sherida al-Kaabi said in jest during an exclusive interview with CNN’s Becky Anderson on Thursday. “Everyone in Europe is talking to us,” he said. Qatar, one of the world’s top suppliers of liquefied natural gas (LNG), has been thrust into
Continue ReadingBy Sara Ashley O’Brien, CNN Business After going 27 years without a US union, Amazon now faces a test from elections at not one but two of its warehouses. A union reelection at the company’s Bessemer, Alabama, facility concluded Friday after a nearly two-month voting period by mail. Beginning that same day, thousands of workers
Continue ReadingBy Frank Pallotta, CNN Business DC is taking a page from Marvel’s playbook comic book. Warner Bros. on Thursday released a deleted scene from “The Batman” showing more of the Caped Crusader’s greatest nemesis, The Joker. The scene is from the latest film based on the superhero, which hit theaters earlier this month. The five-minute-long
Continue ReadingBy Charles Riley, CNN Business North Atlantic shipping lanes are going to be very busy this year as an armada of US natural gas shipments heads to Europe, helping the continent to reduce its reliance on Russian energy following the invasion of Ukraine. The Biden administration said Friday that the United States will work with
Continue ReadingBy Rachel Metz, CNN Business In the third week of Russia’s war in Ukraine, Volodymyr Zelensky appeared in a video, dressed in a dark green shirt, speaking slowly and deliberately while standing behind a white presidential podium featuring his country’s coat of arms. Except for his head, the Ukrainian president’s body barely moved as he
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