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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 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 ReadingBy Laura He, CNN Business Tencent’s stock suffered a sharp drop after the company reported its slowest-ever growth due to a bruising crackdown by China on the country’s tech sector. Shares in the Chinese social media and gaming giant tumbled around 6% in Hong Kong on Thursday after its US-listed shares closed 5.4% lower on
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 ReadingCNN By Samantha Murphy Kelly, CNN Business iPhone owners with an Arizona driver’s license or state ID can now upload either to their Apple Wallet, marking the first time a US state has supported digital versions of this type of identification in the app. But the uses remain very limited, for now. Starting Wednesday, Arizona
Continue ReadingBy Samantha Murphy Kelly, CNN Business iPhone owners with an Arizona driver’s license or state ID can now upload either to their Apple Wallet, marking the first time a US state has supported digital versions of this type of identification in the app. But the uses remain very limited, for now. Starting Wednesday, Arizona residents
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 Sara Ashley O’Brien, CNN Business Instacart wants to help grocery stores get in on the ultra-fast delivery craze. The on-demand grocery delivery company on Wednesday announced several new services for retail partners, including one called Carrot Warehouses, which promises to help grocers build out the infrastructure to support 15-minute deliveries. That would cut Instacart’s
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 Jennifer Korn, CNN Business Mackenzie Scott said Wednesday she has donated more than $3.8 billion to 465 organizations since June. In a Medium post, Scott said her team’s focus in the past nine months continued to be helping underrepresented people from various backgrounds and communities. The billionaire philanthropist gave money to Planned Parenthood locations
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
Continue ReadingBy Jordan Valinsky, CNN Business Following criticism from Ukraine’s president over Nestlé’s ties to Russia, the company is halting the sale of more of its brands in the country. “Going forward, we are suspending renowned Nestlé brands such as KitKat and Nesquik, among others,” the Swiss multinational brand said in a statement. “We have already
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