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By Angela Dewan, CNN Members of the European Parliament voted Wednesday to ban the sale of new combustion engine cars by 2035, in what would be one of the world’s strongest laws to phase out gasoline vehicles, if approved by the European Council. While the measure must still be debated by the Council and passed

By David Goldman, CNN Business Vishal Garg, the Better.com CEO who fired 900 employees over Zoom just before Christmas, has been sued by a former executive for allegedly misleading investors. The SoftBank-backed online mortgage company agreed to a $7.7 billion merger with a blank-check firm to take the company public just over a year ago,

By Chris Isidore, CNN Business Another day, another record for US gas prices. The US average for the price of a gallon of regular gas hit $4.96 according to the most recent reading from AAA Wednesday. It marked the 12th straight day, and the 29th time in the last 30 that gas has set a

By Julia Horowitz, CNN Business For years, ExxonMobil struggled to court investors as fears about the climate crisis and criticism of its business strategy kept would-be shareholders at bay. Now, the oil giant is staging a dramatic comeback. What’s happening: Shares of Exxon climbed above $100 apiece on Tuesday for the first time since 2014.

By Kathryn Vasel, CNN Business The strong labor market has given us near record low unemployment, higher wages — and an unfortunate uptick in the number of reports of job seekers getting scammed. “We are definitely seeing job scams,” said Rhonda Perkins, attorney and chief of staff of the Federal Trade Commission’s division of marketing

By Michelle Toh, CNN Business Nike is deactivating its Run Club app in China, becoming the latest Western company to reconfigure its business in the world’s second largest economy. The US sportswear giant posted a notice to runners in mainland China, saying the app will “cease service and operation” there starting July 8. In a

By Frank Pallotta, CNN Business “Jurassic World: Dominion,” the latest film in the Jurassic Park franchise, stomps into theaters this weekend. The sixth film in the dinosaurs-run-amok series could be one of the biggest of the summer — if not the entire year. This shouldn’t come as a surprise. The Jurassic Park franchise has been

CNN By Frank Pallotta, CNN Business “Jurassic World: Dominion,” the latest film in the Jurassic Park franchise, stomps into theaters this weekend. The sixth film in the dinosaurs-run-amok series could be one of the biggest of the summer — if not the entire year. This shouldn’t come as a surprise. The Jurassic Park franchise has

By Oliver Darcy, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Sally Buzbee has had enough. The Washington Post executive editor sought to rein in her newsroom with a memo on Tuesday that carried a far firmer tone than her note

CNN By Oliver Darcy, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Sally Buzbee has had enough. The Washington Post executive editor sought to rein in her newsroom with a memo on Tuesday that carried a far firmer tone than her

CNN, CNNBUSINESS By Paul R. La Monica, CNN Business You can add the World Bank to the growing chorus sounding recession alarm bells. In its latest outlook, World Bank president David Malpass said “for many countries, recession will be hard to avoid.” Malpass joins many others on Wall Street and at central banks around the

By Chris Isidore, CNN Business No matter where you live in the United States, gas prices are uncomfortably high. Filling up a car for $60, $70 or $80 is a painful experience wherever you are. But not all Americans are feeling pain at the pump equally. You might think drivers in California are struggling the

By Allison Morrow, CNN Business The agency that oversees Wall Street is weighing major changes to the way millions of everyday investors buy and sell stocks. That could be bad news for so-called free-trading apps like Robinhood as well as the lesser known firms that underpin their business models. Today, when you buy or sell

CNN By Anna Cooban and Julia Horowitz, CNN Business The European Central Bank held off on raising interest rates on Thursday, but confirmed plans for a hike next month in a bid to fight inflation. The bank announced that it would raise the cost of borrowing by 25 basis points in July — its first

By Matt Egan, CNN Business US Treasury Secretary Janet Yellen conceded on Tuesday that inflation is at “unacceptable levels,” but she also sought to underscore that this is not a problem exclusive to the United States. “Putin’s war in Ukraine is having impacts on energy and food prices globally,” Yellen told lawmakers. “We are not