Money Archives

Robert Shiller: Fed risks ‘disgrace’ if it doesn’t control inflation

September 19, 2022 5:40 am CNN Newsource

By Julia Horowitz, CNN Business Central banks are faced with the unenviable task of trying to put a lid on decades-high inflation without triggering…

University graduates attend a job fair on June 23 in Zunyi

1 in 5 of China’s urban youth are unemployed. That’s a huge headache for Xi Jinping

September 18, 2022 11:17 pm CNN Newsource

By Laura He, CNN Business The future looked promising for Cherry in May last year, when she secured a prestigious internship at a major software…

TikTok’s search engine repeatedly delivers misinformation to its majority-young user base, report says

September 18, 2022 4:11 pm CNN Newsource

By Emma Tucker, CNN When a TikTok user searches the social media app for information on top news stories, ranging from Covid-19 vaccines to school…

Google is working to get its money back from the engineer.

Google mistakenly sent an engineer almost $250,000

September 18, 2022 12:29 pm CNN Newsource

By Zoe Sottile, CNN A man mistakenly received a payment of almost $250,000 from Google — even though he hadn’t done any work for the…

Nissan recalls more than 200,000 pickup trucks due to rollaway risk

September 18, 2022 11:15 am CNN Newsource

By Ramishah Maruf, CNN Nissan is recalling more than 200,000 pickup trucks due to a risk that the vehicles could roll away while in park. Nissan…

A camera operator films the Westminster Abbey

Queen Elizabeth’s funeral marks the end of television dominance that started with her coronation

September 18, 2022 10:37 am CNN Newsource

By David Zurawik, CNN The BBC credits Queen Elizabeth II’s coronation in 1953 as the “event that did more than any other to make…

A UPS truck driver locks his vehicle at a truck stop near Interstate 5 in 2021

Next up for US unions: Major contracts for 700,000 workers

September 18, 2022 8:42 am CNN Newsource

By Chris Isidore, CNN Business The 11th hour deal that prevented a crippling strike at the nation’s freight railroads is the biggest win for US…

Next up for US unions: Major contracts for 700,000 workers

September 18, 2022 8:42 am CNN

By Chris Isidore, CNN Business The 11th hour deal that prevented a crippling strike at the nation’s freight railroads is the biggest win for US…

Another big rate hike is coming. Lather. Rinse. Repeat

September 18, 2022 4:35 am CNN Newsource

By Paul R. La Monica, CNN Business The Federal Reserve’s upcoming meeting on Wednesday will be one for the history books. The Fed will either…

Cinemas are screening the Queen’s funeral. Here’s what else is open on Monday

September 17, 2022 9:10 pm CNN Newsource

By Anna Cooban, CNN Business Much of Britain came to a standstill on Monday for the funeral of Queen Elizabeth II. The government declared the day an…

$2 bills are lighter to carry around in our wallets than ones

Why it’s time to start paying with $2 bills

September 17, 2022 3:57 am CNN Newsource

By Nathaniel Meyersohn, CNN Business Inflation has made it hard to buy much with a buck these days. $1 pizza has disappeared. Dollar stores…

Fried chicken was cheap comfort food for South Koreans. Now a meal can cost $22

September 16, 2022 5:20 pm CNN

By Michelle Toh and Yoonjung Seo, CNN Business Clark Park, a 35-year-old YouTuber, is one of many people in South Korea fed up with high food prices.…

Fried chicken was cheap comfort food for South Koreans. Now a meal can cost $22

September 16, 2022 5:20 pm CNN Newsource

By Michelle Toh and Yoonjung Seo, CNN Business Clark Park, a 35-year-old YouTuber, is one of many people in South Korea fed up with high food prices.…

A group of Democrats in Congress is calling on President Joe Biden to keep releasing oil from America's emergency stockpile through at least the end of the year. A contractor is seen here working on a crude oil pipeline infrastructure.

First on CNN: House Democrats push Biden to unleash even more emergency oil

September 16, 2022 9:14 am CNN Newsource

By Matt Egan, CNN Business A group of Democrats in Congress is calling on President Joe Biden to keep releasing oil from America’s emergency…

No stamps: Why one NY neighborhood can’t buy them

September 16, 2022 10:38 am CNN Newsource

By Alexandra Peers, CNN Business The labor shortage has reached peak stupid: One post office’s workers couldn’t sell stamps. For the past…

Jeff Bezos with Chiefs owner Clark Hunt and Chargers owner Dean Spanos ahead of a Thursday night football game at Arrowhead Stadium.

An Indian tycoon just ousted Jeff Bezos as world’s second-richest person

September 16, 2022 10:32 am CNN Newsource

By Allison Morrow, CNN Business Jeff Bezos just lost his status as the world’s second-richest person, dropping to No. 3 as Indian business…

United Airlines considers government air traffic controller staffing shortages its top concern and says there is still time to minimize the impact on holiday travel this winter.

United CEO on FAA air traffic controllers: ‘They need more’

September 16, 2022 9:39 am CNN Newsource

By Pete Muntean and Gregory Wallace, CNN United Airlines considers government air traffic controller staffing shortages its top concern and says…

Consumer sentiment in September notched up to its highest level since April

Americans are feeling better about the economy, but inflation worries still loom

September 16, 2022 8:40 am CNN Newsource

By Alicia Wallace, CNN Business Americans continue to feel slightly better about the economy as gas prices retreat from their early summer highs.…

Stocks fall after FedEx warns of global recession

September 16, 2022 6:49 am CNN Newsource

By Nicole Goodkind, CNN Business US stocks fell on Friday after FedEx served investors a brutal pre-earnings announcement about the state of the…

British pound hits a 37-year low as UK economy skids

September 16, 2022 5:57 am CNN

By Julia Horowitz, CNN Business The British pound slumped to a 37-year low on Friday after new data showed that shoppers are pulling back spending as…

FedEx shares plunged 21% in premarket trading on September 16 after it warned that a slowing economy will cause it to fall $500 million short of its revenue target. A FedEx truck is pictured here making deliveries on December 6 in New York City.

FedEx warns of a global recession, cutting sales forecast by half a billion dollars

September 16, 2022 5:31 am CNN Newsource

By Chris Isidore, CNN Business FedEx warned that a global recession could be coming, as demand for packages around the world tumbles. Shares of FedEx…

Germany takes control of Russian-owned oil refineries

September 16, 2022 4:41 am CNN Newsource

By Nadine Schmidt and Anna Cooban, CNN Business The German government has seized control of three Russian-owned oil refineries to secure supplies of…

The announcement that a tentative deal has been reached to avert the first national rail strike in decades comes as a relief for businesses and investors worried about supply chain disruptions. But it's not the only potential catalyst for another market sell-off.

Wall Street dodged a rail strike crisis, but there’s trouble ahead

September 16, 2022 4:28 am CNN Newsource

By Nicole Goodkind, CNN Business The announcement from the White House that a tentative deal has been reached to avert the first national rail strike…

British pound hits a 37-year low as UK economy skids

September 16, 2022 4:05 am CNN Newsource

By Julia Horowitz, CNN Business The British pound slumped to a 37-year low on Friday after new data showed that shoppers are pulling back spending as…

Kanye West says he’s terminating his partnership with the Gap

September 15, 2022 8:33 am CNN Newsource

By Jordan Valinsky, CNN Business Kanye West said he’s terminating his rocky two-year-old partnership with the Gap because of “substantial…

Federal regulators accused Morgan Stanley on September 20 of "astonishing" failures that led to the mishandling of sensitive data on some 15 million customers.

‘Astonishing.’ Morgan Stanley hard drives holding sensitive client data got auctioned off online

September 15, 2022 11:06 am CNN

By Matt Egan, CNN Business Federal regulators accused Morgan Stanley on Tuesday of “astonishing” failures that led to the mishandling of…

There will be no freight railroad strike September 16 but the threat of a strike has not gone away entirely.

Why the threat of a rail strike is delayed but not gone

September 15, 2022 10:38 am CNN Newsource

By Chris Isidore, CNN Business There will be no freight railroad strike early Friday. But the threat of a strike has not gone away entirely. The…

McDonald’s CEO sounds the alarm over crime in Chicago

September 15, 2022 10:09 am CNN Newsource

By Danielle Wiener-Bronner, CNN Business McDonald’s CEO Chris Kempczinski has big concerns about surging crime in Chicago, where the fast food…

Despite the Red Devils' lack of recent success on the pitch

Manchester United: Winning on Wall Street despite struggling on the field

September 15, 2022 10:05 am CNN Newsource

By Paul R. La Monica, CNN Business Fans of the Manchester United Football Club are not thrilled to see their squad in the middle of the pack of the…

Wall Street dodged a rail strike crisis, but there’s trouble ahead

September 15, 2022 9:45 am CNN

By Nicole Goodkind, CNN Business The announcement from the White House that a tentative deal has been reached to avert the first national rail strike…

Patagonia’s founder transfers ownership into two entities to help fight the climate crisis

September 15, 2022 9:05 am CNN

By Kate Trafecante, CNN Patagonia’s founder is transferring ownership of the company after nearly 50 years into two entities that will help…

US commuter railroads and passengers are breathing a sigh of relief as freight rail companies and the unions that represent their workers averted a potential freight strike that would have crippled their services.

Rail strike deal averts travel nightmares for train commuters

September 15, 2022 8:27 am CNN Newsource

By Matt McFarland, CNN Business US commuter railroads and passengers are breathing a sigh of relief as freight rail companies and the unions that…

There are new signs of strain in the Russian economy as energy prices fall and nearly seven months of war in Ukraine prove increasingly costly. A view of the Russian Central Bank headquarters in downtown Moscow on May 26

Cheaper oil and Ukraine war are blowing a hole in Russia’s finances

September 15, 2022 8:10 am CNN Newsource

By Clare Sebastian, CNN There are new signs of strain in the Russian economy as energy prices fall and nearly seven months of war in Ukraine prove…

The Census Bureau reported September 15 that a key measure of August US retail sales rose unexpectedly by 0.3% on a monthly basis

US consumer spending rose in August as gas prices fell

September 15, 2022 6:30 am CNN Newsource

By Martha C. White, CNN Business Another month of falling gas prices gave Americans’ wallets a bit of a reprieve in August. That sent consumers…

Mortgage rates top 6% for the first time since 2008

September 15, 2022 7:12 am CNN Newsource

By Anna Bahney, CNN Business Mortgage rates jumped again, surpassing the 6% mark and reaching the highest level since the fall of 2008. The 30-year…

The number of first-time claims for unemployment benefits fell again last week

Weekly jobless claims fall for fifth-straight week, showing resilient labor market

September 15, 2022 6:32 am CNN Newsource

By Alicia Wallace, CNN Business The number of first-time claims for unemployment benefits fell again last week, setting a new three-month low and…

Freight railroad unions and management reached a tentative deal to avert a strike

Here’s what the railroads and unions agreed to

September 15, 2022 6:28 am CNN Newsource

By Vanessa Yurkevich, CNN Business Freight railroad unions and management reached a tentative deal to avert a strike, addressing a key attendance…

CNN announces it will debut new morning show with Don Lemon, Poppy Harlow, and Kaitlan Collins

September 15, 2022 6:23 am CNN Newsource

By Oliver Darcy, CNN Business CNN is reimagining its mornings. The network on Thursday unveiled a new marquee morning program that will debut later…

Investors are on edge as the Federal Reserve gears up for its policy decision next week. Some are even starting to brace for a big surprise.

It’s getting late in the game. Will the Fed risk a Hail Mary?

September 15, 2022 5:01 am CNN Newsource

By Nicole Goodkind, CNN Business Investors are on edge as the Federal Reserve gears up for its policy decision next week. Some are even starting to…

3 things the Fed needs to see before it stops hiking rates. A person is seen here arranging groceries in El Progreso Market in the Washington

Opinion: 3 things the Fed needs to see before it stops hiking rates

September 15, 2022 4:55 am CNN Newsource

Opinion by Joseph H. Davis for CNN Business Perspectives The Federal Reserve is aware of the pain that spiraling prices are causing Americans. At the…

A sign can be seen through a gate at King's Cross St. Pancras underground station in London

Strikes could bring UK railways to a standstill

September 15, 2022 3:24 am CNN

By Anna Cooban and Arnaud Siad, CNN Business Labor unions in the United Kingdom offered the country a brief respite from a wave of strike action…

Unions and management reached a tentative deal early Thursday

Railroad strike averted after marathon talks reach tentative deal

September 15, 2022 2:33 am CNN Newsource

By Chris Isidore, Vanessa Yurkevich and Jeremy Diamond, CNN Business Unions and management reached a tentative deal early Thursday, averting a…

3 ways China and Russia are forging much closer economic ties

September 14, 2022 9:40 pm CNN Newsource

By Laura He, CNN Business Chinese leader Xi Jinping and his Russian counterpart, Vladimir Putin, will meet face-to-face this week for the first time…

A rail strike would do serious damage — and that’s exactly the point

September 14, 2022 5:02 pm CNN Newsource

By Allison Morrow, CNN Business Unless we get a breakthrough soon in deadlocked negotiations, Friday will mark the beginning of the first national…

Ford just unveiled a new Mustang coupe that

Ford: Gas cars are a growth business for us

September 14, 2022 5:44 pm CNN

By Peter Valdes-Dapena, CNN Business When Ford chief executive Jim Farley split the company’s passenger vehicle business into two parts — one…

The interior includes a single screen that includes both the gauges and the center touchscreen.

Ford’s new Mustang sticks with pure gasoline

September 14, 2022 5:16 pm CNN Newsource

By Peter Valdes-Dapena, CNN Business Ford unveiled an all-new version of the two-door Mustang coupe at an event in Detroit Wednesday night. It has a…

A rail strike would do serious damage — and that’s exactly the point

September 14, 2022 5:02 pm CNN

By Allison Morrow, CNN Business Unless we get a breakthrough soon in deadlocked negotiations, Friday will mark the beginning of the first national…

Patagonia’s founder transfers ownership into two entities to help fight the climate crisis

September 14, 2022 4:23 pm CNN Newsource

By Kate Trafecante, CNN Patagonia’s founder is transferring ownership of the company after nearly 50 years into two entities that will help…

A Norfolk Southern freight train passes a train on a siding as it approaches a crossing in Homestead

Talks to avert crippling US rail strike continue overnight

September 14, 2022 4:15 pm CNN Newsource

By Chris Isidore and Vanessa Yurkevich, CNN Business Talks aimed at averting a freight railroad strike that could cripple US supply chains continued…

A worker is pictured here walking along a dried-up field of sunflowers while extreme weather conditions

Extreme weather could push food prices even higher

September 14, 2022 3:44 am CNN Newsource

By Alicia Wallace, CNN Business Weather has long been a fickle farmhand, devastating fields one year while delivering bountiful harvests the next.…

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