Money

By Julia Horowitz, CNN Business Investors have quickly turned on companies like Netflix that were growing fast during the recovery from the pandemic but are now sputtering. Yet Tesla, which skeptics have long said is overvalued based on rosy projections for the future, is experiencing a much softer landing. What’s happening: Tesla shares have dropped

By Anna Cooban, CNN Business Nestlé, the world’s biggest food and drinks company, raised prices by more than 5% in the first three months of this year as it passed on rising costs to shoppers. Consumers in North America took the hardest hit, with an 8.5% rise in prices, the company said in its first-quarter

By Paul R. La Monica, CNN Business Last month, the Federal Reserve raised interest rates for the first time since December 2018. Now there are growing expectations that the central bank is about to dramatically step up the size and pace of its rate hikes in order to put a brake on surging consumer prices.

By Diksha Madhok, CNN Business Two of India’s biggest businesses are moving away from Russia, even as Prime Minister Narendra Modi refrains from taking a tough stance against Moscow over the war in Ukraine. Tata Steel, one of the largest steelmakers in India, said on Wednesday that it has “taken a conscious decision to stop

By Kashif Kakvi, Rhea Mogul and Esha Mitra, CNN Shahdullah Baig stands among the rubble of what was once his modest two-bedroom home, his belongings buried under debris and broken bricks. “In the blink of an eye, my home was demolished,” said the 45-year-old fruit seller, whose kitchen, fruit cart, and cattle shed have ​all

By Oliver Darcy, CNN Business Spotify and the Obamas are headed for a split. The streaming service and former first family will not be inking a new deal, a person familiar with the matter told CNN. The person said that Spotify did not make an offer for the rights to distribute the content from Higher

CNN, CNNBUSINESS By Frank Pallotta, CNN Business Netflix shares plunged this week after the platform reported its first subscriber loss in more than a decade. One factor the company pointed to as hurting revenue: widespread password sharing. Does this mean the streamer is about to kick millions of viewers off shared accounts? Not quite. But

By Anna Bahney, CNN Business Home prices hit an all-time high in March as buyers scrambled to close deals before mortgage rates rise even further. The median existing-home price for all housing types in March was $375,300, up 15% from the year before, according to the National Association of Realtors. That marks more than a

CNN, CNNBUSINESS By Mark Thompson and Chris Liakos, CNN Business One of Russia’s richest men has quit as CEO of Lukoil, the country’s second-largest oil company. In a brief statement Thursday, Lukoil said Vagit Alekperov informed the company “about his decision to resign” as a director and president of the company. The company did not

CNN, CNNBUSINESS By Anneken Tappe, CNN Business A half-percentage point interest rate hike is officially on the table, Federal Reserve Chairman Jerome Powell said Thursday, as the central bank prepares to get inflation under control. “50 basis points will be on the table for the May meeting,” Powell said during a panel at the International

By Clare Sebastian and Chris Liakos, CNN Oleg Tinkov, the billionaire founder of a big Russian digital bank, has blasted Russia’s “insane war” in Ukraine and urged the West to help President Vladimir Putin find an off-ramp to “stop this massacre.” Russia’s brutal assault on its neighbor began nearly two months ago. Thousands of Ukrainian

By Julia Horowitz, CNN Business Shares of Netflix are imploding after the company reported its first quarterly loss of subscribers in more than a decade, far underperforming expectations and worrying investors that had been betting that a handful of big tech companies would continue to grow at a rapid clip. What’s happening: Netflix’s stock dropped