Money

By Matt Egan, CNN Business Chevron CEO Mike Wirth expressed support on Tuesday for governments to release emergency stockpiles of oil to offset supply fears triggered by Russia’s invasion of Ukraine. “I do think a coordinated response by multiple countries could help in the near-term,” Wirth said in response to a question from CNN during

By Frank Pallotta, CNN Business “The Batman,” which is anticipated to be one of the biggest blockbusters of the year, won’t hit theaters in Russia following the country’s invasion of Ukraine last week. “In light of the humanitarian crisis in Ukraine, WarnerMedia is pausing the release of its feature film ‘The Batman’ in Russia. We

By Alicia Wallace, CNN Business Nearly half a million families are estimated to be stranded without reliable child care, exacerbating the nation’s worker shortage as parents continue to stay home, according to a new report. The report, published by Wells Fargo economists on Tuesday, adds to a growing cache of economic evidence highlighting job losses

By Jordan Valinsky, CNN Business Coors Light is ditching plastic rings on its six-packs and replacing them with an environmentally friendlier option. Beginning later this year, Coors Light will instead be packaged in cardboard wrap carriers that are recyclable and sustainably sourced. Molson Coors announced the change Tuesday, saying Coors Light is the largest beer

By Michelle Toh, CNN Business Cryptocurrency prices are climbing after Russia’s ruble sank to another record low and Moscow was hit with new sanctions. As of 5:25 a.m. ET on Tuesday, bitcoin had jumped 13% over the last 24 hours to $43,163, according to cryptocurrency tracker CoinDesk. Other cryptocurrencies moved higher, too. Ethereum climbed 10%

By Laura He, CNN Business Switzerland, a major hub for storing wealth that is popular with Russian oligarchs, is breaking with its tradition of neutrality to sanction Russia. The Swiss government will adopt EU sanctions imposed following the invasion of Ukraine and immediately freeze any assets belonging to Russian President Vladimir Putin, Prime Minister Mikhail

By Chris Isidore, CNN Business As the United States and Europe ramp up their sanctions on Russia, Western consumers will soon face rising costs. That’s true even for American consumers, even though relatively few Russian exports reach US shores. The higher prices are modest compared to the destruction of life and property in Ukraine. But

By Matt Egan, CNN Business Russia faces the specter of a full-blown financial meltdown. Punishing sanctions leveled by the West have sent the ruble crashing to record lows, shuttered Moscow’s stock market and made Russian assets toxic on the world stage. The White House has even taken aim at Vladimir Putin’s financial fortress, removing access

By Frank Pallotta, CNN Business Disney, Hollywood’s largest and most influential movie studio, is pausing the release of its theatrical films in Russia following the country’s invasion of Ukraine last week. “Given the unprovoked invasion of Ukraine and the tragic humanitarian crisis, we are pausing the release of theatrical films in Russia, including the upcoming

By Oliver Darcy, CNN Business RT, the Russia-backed media outlet infamous for promoting Vladimir Putin’s talking points, has seen its influence significantly diminish in recent days as cable carriers and social media companies have taken swift measures to block its reach. The actions taken by television providers and technology companies against RT have dealt one

CNN By Oliver Darcy, CNN Business DirecTV is cutting ties with RT, the Russia-backed television network infamous for promoting Vladimir Putin’s agenda. A spokesperson for the US satellite carrier told CNN on Tuesday that the company had already been reviewing whether to renew the outlet’s carriage agreement, which was due for expiration later this year,