Money

CNN, CNN BUSINESS By Julia Horowitz, CNN Business Looming interest rate hikes are slamming US tech stocks, which dropped sharply last week as investors reassessed how higher borrowing costs could hit their portfolios. But it’s not the only sector to take a beating. What’s happening: Shares of US homebuilders including Toll Brothers, Lennar and PulteGroup

By Charles Riley, CNN Business The UK government is coming under mounting pressure to increase taxes on oil and gas companies, including BP and Shell. The aim: to help British households cope with skyrocketing energy bills. The main opposition Labour Party this weekend called on Prime Minister Boris Johnson to impose a windfall tax on

By Michelle Toh, CNN Business Asia’s biggest billionaire, Mukesh Ambani, has snapped up a controlling stake in the Mandarin Oriental in New York City for just over $98 million. Ambani’s conglomerate, Reliance Industries, announced Saturday the acquisition of the hotel’s parent company, a Cayman Islands-based firm controlled by the Investment Corporation of Dubai. That company

By Laura He, CNN Business China’s largest private education provider laid off 60,000 employees last year as it grappled with fallout from Beijing’s sweeping overhaul of the industry. Yu Minhong — the billionaire founder of New Oriental Education — confirmed the massive shakeup in a post on his WeChat account over the weekend, adding the

By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Bob Saget was “an ever-present figure in American living rooms,” as Phil Mattingly said on CNN Sunday night. That’s why Saget’s sudden death at age 65 prompted breaking news bulletins,

CNN By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Bob Saget was “an ever-present figure in American living rooms,” as Phil Mattingly said on CNN Sunday night. That’s why Saget’s sudden death at age 65 prompted breaking news

By Ramishah Maruf, CNN Business There are difficult bosses. Then there are bosses who dump over 500 pounds of greasy pennies onto an ex-employee’s driveway. The US Department of Labor filed a lawsuit late last month against a Georgia auto repair shop for violating federal labor law, after its owner retaliated against a former employee

CNN By Ramishah Maruf, CNN Business Katie Harbath worked for 10 years inside Facebook, where she was most recently the company’s public policy director managing elections. Now, she’s the founder and CEO of Anchor Change, and on “Reliable Sources” Sunday, she spoke out about her old company and its role in democracy. Harbath said Facebook

CNN, HLN By Allison Morrow, CNN Business Confused about inflation? You’re not alone. Inflation is, paradoxically, both incredibly simple to understand and absurdly complicated. Let’s start with the simplest version: Inflation happens when prices broadly go up. That “broadly” is important: At any given time, the price of goods will fluctuate based on shifting tastes.