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By Matt McFarland, CNN Business The S&P 500 index devoted to highlighting companies excelling at ESG, which stands for environmental, social and governance issues, has removed Tesla from the index, it explained in a blog post published on Tuesday. The move comes in the wake of allegations of racial discrimination and poor working conditions at

By Danielle Wiener-Bronner, CNN Business Wingstop wants to lower its food supply costs. So it’s considering raising its own chickens. Restaurant brands like Wingstop have struggled with their supply chains in recent years, as the Covid-19 pandemic, extreme weather and the war in Ukraine, among other factors, have tightened food supplies and sent prices soaring.

By Matt Egan and Alicia Wallace, CNN Business US Treasury Secretary Janet Yellen on Wednesday criticized the Trump administration’s tariffs on China and voiced support for lifting some of the levies, in part to ease very high inflation pressuring the US economy. “Some of the tariffs that were imposed by President Trump in retaliation for

By Sharon Browne-Peter Burberry reported record profits for the year ended in April despite taking a recent sales hit from its biggest market, China. The British luxury brand, known for its signature beige check and trench coats, reported a 23% increase in revenue for the year, while profits rose 38% to £523 million ($649 million).

Opinion by Rosabeth Moss Kanter for CNN Business Perspectives To attract workers in today’s tight labor market, companies are touting better workplace amenities. Amazon is running ads about the company’s pay and benefits. Levi Strauss is offering to cover travel costs for workers seeking abortions. Airbnb is allowing its employees to permanently work remotely. This

By Nicole Goodkind, CNN Business The old joke goes like this: Two friends are at a resort and one says, “The food here is really terrible.” The other replies, “And the portions are so small!” Today, it’s investors who dislike the taste of the Federal Reserve’s interest rate hikes — but seemingly want more anyway.

By Anna Cooban, CNN Business The European Union has unveiled a €210 billion ($221 billion) plan to wean itself off Russian oil and gas. Presenting its “REPowerEU” plan on Wednesday, the European Commission said it would attempt to slash consumption of Russian gas across the bloc by 66% by the end of this year —

By Matt Egan, CNN Business The mood in the C-Suite is darkening. CEO confidence has tumbled to the weakest level since the beginning of the Covid-19 pandemic, The Conference Board said Wednesday. For the first time during the economic expansion, CEO confidence is now in negative territory. Worse, business leaders are bracing for a potential

By Julia Horowitz, CNN Business Prices are rising at the fastest pace in decades, creating a cost-of-living crisis that’s forcing people around the world to make tough choices about what to buy. The United Kingdom is no exception: inflation hit a 40-year high of 9% in April and is forecast to peak above 10% toward

By Peter Valdes-Dapena, CNN Business After Renault announced its departure this week from the Russian auto market amid the country’s war with Ukraine, Moscow’s mayor announced its factory will be used to restart the defunct Soviet-era Moskvich car brand. Little known outside the former Soviet Union and its satellite countries, Moskvich was founded around 1930

By Nicole Goodkind, CNN Business A US division of German insurance firm Allianz will pay more than $6 billion for what US investigators called a “massive fraudulent scheme” that involved the investments of public pensions, religious organizations and other foundations. The settlements with the US Department of Justice and US Securities and Exchange Commission are

By Jon Sarlin, CNN Business Editor’s Note: If you or someone you know is struggling with suicidal thoughts or mental health matters, please call the National Suicide Prevention Lifeline at 800-273-8255 to connect with a trained counselor or visit the NSPL site. On Twitter and Reddit, stunned Luna and TerraUSD investors tried to take stock

By Anneken Tappe, CNN Business Hindsight is 20:20, even for the Federal Reserve. The US central bank is in the midst of a “whatever it takes” moment when it comes to inflation, but if Fed officials had known how high inflation would rise, they would have changed their course on policy earlier, Fed Chairman Jerome

By Jordan Valinsky, CNN Business Beloved discount store Century 21 is reopening in New York City nearly two years after the pandemic forced it out of business. The retailer, which sold designer clothing at bargain basement prices, is reopening in spring 2023 at its former location near the World Trade Center in downtown Manhattan. A

By Chris Isidore, CNN Business How do you regulate a man worth more than $200 billion who thinks he knows better than everyone else? The simple answer is: You don’t. Elon Musk has once again proven he’ll do things his own way, announcing Friday that his $44 billion deal to buy Twitter is on hold.

By Brian Stelter, CNN Business In the wake of the Buffalo supermarket mass shooting and widespread discussion of far-right violent extremism, Fox’s prime time hosts pivoted to what they claim is the true threat: The left. Condemnations of “the left” echoed across Tucker Carlson, Sean Hannity and Laura Ingraham’s highly-rated shows on Monday night. The

By Anna Cooban, CNN Business Europe can’t make up its mind on how to pay for Russia natural gas imports that continue to fuel homes, businesses and power stations. The confusion centers on the logistics of the payments themselves. Several European gas buyers have been preparing to work around the Kremlin’s demand that gas bills

By Paul R. La Monica, CNN Business Warren Buffett’s Berkshire Hathaway has been a top investor in Wells Fargo for the past few years, despite the company’s fake account scandal, overcharging foreign-exchange customers and myriad other problems. Now, the Oracle of Omaha has finally thrown in the towel. Berkshire Hathaway disclosed late Monday that it

By Jordan Valinsky, CNN Business New York Mayor Eric Adams is begging the city’s business leaders, including JPMorgan CEO Jamie Dimon, to ride the subway to work. Adams is pushing to bring people back to New York offices after years of working from home. “We’re going to get him on a train,” Adams told the

Opinion by Kevin Johnson and Mark Ruffalo for CNN Business Perspectives As energy tensions continue to rise in Europe amidst the war in Ukraine, Americans are feeling the effect at home. Russia shut off natural gas supplies to Poland and Bulgaria last month, and the European Union recently proposed a ban on Russian oil imports.

By Matt Egan, CNN Business Nestlé is rushing baby formula into the United States via airfreight in a bid to ease a nationwide shortage that is unnerving parents around the country. In a statement to CNN on Tuesday, Nestlé said it is flying in some baby formula produced outside the United States, including Gerber Good

By Paul R. La Monica, CNN Business Home Depot has a message for all of the economic naysayers: Hold my plywood. The home improvement retail giant reported better-than-expected gains in sales and earnings for the first quarter Tuesday and lifted its outlook for the rest of this fiscal year. Shares of Home Depot, one of