Money

By Paul R. La Monica, CNN Business Stablecoins are unstable. Cryptocurrencies don’t act like currency. Does digital money ever stand a chance of winning the establishment’s embrace? With the prices of cryptocurrencies like bitcoin and ethereum and so-called stablecoins like Luna and TerraUSD plunging in value and hurting many investors in the process, that seems

CNN, CNNBUSINESS Opinion by Lakshman Achuthan and Anirvan Banerji for CNN Business Perspectives The economy is close to entering a recession, perhaps as soon as this year. To avoid taking too much of a financial hit, Americans will need to prepare. Last summer, we wrote that US economic growth was already starting to slow and

By Paul R. La Monica, CNN Business Inflation concerns have made it a brutal year for stocks, but wireless service is one area where prices aren’t rising much — and the sector has been a bright spot on Wall Street. So far in 2022, shares of T-Mobile are up 10% and AT&T’s stock has gained

By Jordan Valinsky, CNN Business Goldman Sachs CEO David Solomon said he’s “devastated” about the shooting Sunday on a New York City subway train that left one of his employees dead. Solomon said the victim, Daniel Enriquez of Brooklyn, was a “beloved member” of the investment bank for nine years and that he “epitomized our

By Allison Morrow, CNN Business In early 2021, in the midst of speculative stock market euphoria, a pair of day traders went viral on TikTok with a video explaining their winning strategy. “I see a stock going up and I buy it. And I just watch it until it stops going up, and I sell

By Anna Cooban, CNN Business Germany’s frustration over some European countries’ resistance to an embargo of Russia’s oil was laid bare on Monday. “We have seen the worst of Europe [in] that only some states are blocking the development,” Robert Habeck, Germany’s economy minister, told a panel at the World Economic Forum in Davos, Switzerland.

By Michelle Toh, CNN Business Shareholders voted Monday in favor of Didi’s plan to quit the New York Stock Exchange less than a year after China’s largest ride-hailing firm launched its $4.4 billion initial public offering. Just days after Didi’s Wall Street debut last summer, Chinese authorities banned the service from app stores in the

By Julia Horowitz, CNN Business The global economy is being brought to the edge of a precipice by crisis upon crisis. As the first World Economic Forum to be held in person since 2020 opened in Davos, Switzerland on Monday, the International Monetary Fund said the economy faces “perhaps its biggest test since the Second

By Matt Egan, CNN The White House is considering an emergency declaration that would enable President Joe Biden to release diesel from a rarely used stockpile in a bid to address a major supply crunch, a senior White House official told CNN. The deliberations about tapping the Northeast Home Heating Oil Reserve underscore the level

By Tami Luhby, CNN The Covid-19 pandemic has been good for the wallets of the wealthy. Some 573 people have joined the billionaire ranks since 2020, bringing the worldwide total to 2,668, according to an analysis released by Oxfam on Sunday. That means a new billionaire was minted about every 30 hours, on average, so

CNN By Ramishah Maruf, CNN Business Elon Musk is going after Insider for publishing a story alleging he sexually harassed a flight attendant on a SpaceX corporate jet in 2016 — but the news outlet’s global editor-in-chief Nicholas Carlson is standing by his team’s reporting. Musk tweeted Friday that his company Tesla is building a

By Ramishah Maruf, CNN Business Elon Musk is going after Insider for publishing a story alleging he sexually harassed a flight attendant on a SpaceX corporate jet in 2016 — but the news outlet’s global editor-in-chief Nicholas Carlson is standing by his team’s reporting. Musk tweeted Friday that his company Tesla is building a “hardcore

By Parija Kavilanz, CNN Business Industry insiders have long feared a situation just like this: American parents are desperately seeking adequate supply of formula for their infants during a nationwide shortage. The formula shortage has exposed an inflexible industry dominated by just three to four large players that own a majority of formula production in

CNN By Parija Kavilanz, CNN Business Industry insiders have long feared a situation just like this: American parents are desperately seeking adequate supply of formula for their infants during a nationwide shortage. The formula shortage has exposed an inflexible industry dominated by just three to four large players that own a majority of formula production

By Peter Valdes-Dapena, CNN Business The new Nissan Z is one of the most important models in the car maker’s recent history — not for any concrete business reason (two-seat sports cars aren’t big sellers), but because even a car company needs a soul. Nissan’s been through some rough times in the past four or

By Nicole Goodkind, CNN Business To badly misquote John Lennon: Everybody’s talking about inflation, stagflation, capitulation, globalization, stagnation, this-ation, that-ation, -ation, -ation, -ation. All we are saying is please make it end. Americans view inflation, which is near 40-year highs, as the top problem facing the country today by a very wide margin. No other

CNN By Frank Pallotta, CNN Business “Saturday Night Live” closed out its 47th season by saying goodbye to two of its most beloved cast members. On Saturday night’s episode, the NBC variety show bid adieu to Kate McKinnon and Pete Davidson in subtle, but emotional ways. The show first said goodbye to McKinnon by opening