CNN-Business-Consumer

By Chris Liakos, CNN Business European brewers Heineken and Carlsberg said Monday they will exit the Russian market following reviews of their operations triggered by the invasion of Ukraine. Denmark’s Carlsberg, which has 8,400 employees in Russia, said it was seeking a “full disposal” of its business but would maintain operations at a reduced level

By Ramishah Maruf, CNN Russia’s independent news network, TV Rain, shuttered its Moscow operations in early March — its newsroom empty, broadcast signal shut off. The decision followed the draconian “Fake News” law the Kremlin enacted, effectively making it a crime to report the truth about the war in Ukraine. But the husband-and-wife team behind

By Frank Pallotta, CNN Business The Academy Awards ceremony is Hollywood’s biggest night, and for decades, it was one of the most watched television events each year. Not anymore. Last year the broadcast experienced record low ratings, bringing in a mere 9.8 million viewers. Just eight years ago, the Oscars nabbed more than 40 million

By Chris Isidore, CNN Business Another Boeing plane has been grounded after a fatal crash, this time in China. That may be the least of the company’s problems in a crucial market. The decision to ground the Boeing model 737-800 was made by China Eastern Airlines, which operated the jet that crashed March 21, killing

By Paul R. La Monica, CNN Business The Federal Reserve has already raised interest rates once this year and is likely to keep hiking them for the rest of 2022. Investors have largely brushed off worries about higher rates, with the hope that the increases will ease inflation pressures without slowing down the economy too

By Nicole Goodkind, CNN Business Former Federal Reserve head Alan Greenspan has a keen interest in men’s underwear. Not because he’s preoccupied with the evolving fashions of nether garments — rather, he sees underwear sales as a key economic predictor. Sounds weird, right? But it’s just one of the many strange ways experts try to

By Oliver Darcy, CNN Business A judge in Washington D.C. on Thursday dismissed a high-profile case filed by a Washington Post politics reporter who alleged that the newspaper and its former top editor subjected her to unlawful discrimination after she publicly said that she had been the victim of sexual assault. The reporter, Felicia Sonmez,

By Matt Egan, CNN Business Inflation is so hot that Wall Street banks are falling over each other to predict the dramatic moves the Federal Reserve will have to make to cool prices off. Goldman Sachs raised eyebrows earlier this week by forecasting the Fed will raise interest rates by a half a percentage point

By Alicia Wallace, CNN Business Consumer sentiment slumped again in March, hitting its lowest level since August 2011, the University of Michigan reported Friday. High inflation, volatile oil prices, geopolitical unrest and now rising interest rates, have left consumers with a bitter taste about the state of the US economy. The March index was revised

By Matt Egan, CNN Business The war in Ukraine. Red-hot inflation. And rapid interest rate hikes. The economic recovery that began two years ago faces credible threats that could lead to its premature demise. The US economy has at least a one-in-three chance of sinking into a recession over the next 12 months, Moody’s Analytics

By Bob Ortega, Al Goodman, Casey Tolan, Curt Devine and Jeff Winter, CNN For 10 years, Taras Ostapchuk worked at what many might consider a dream job, as the chief engineer for the Lady Anastasia, a luxurious 156-foot yacht that cruised mostly from one upscale port to another across the sparkling Mediterranean Sea. But on

By Rachel Ramirez As gas prices soared and deepened the pain at the pump this month, consumers reacted by searching for — and possibly dreaming of — more fuel-efficient vehicle alternatives. Web search interest in electric vehicles reached a record high in the US in March, according to Google Trends. While high gas prices are

By Nicole Goodkind, CNN Business Edward “Ned” Johnson III, who oversaw Fidelity Investments’ transformation into a financial services powerhouse and pioneered the sale of mutual funds directly to individual investors, died Wednesday. He was 91 years old. Johnson died in Florida surrounded by family, according to Fidelity. “He was a visionary, an innovator, and a

By Paul R. La Monica, CNN Business It’s been an exciting NCAA men’s basketball tournament so far. Baylor, the reigning champ, is already out. Perennial powerhouses Gonzaga and Duke still look solid. And we have this year’s Cinderella: hello, Saint Peter’s Peacocks! For investors in sports betting stocks, however, March Madness has been a bit

By Allison Morrow, CNN Business Foreign businesses have for decades reaped the benefits of setting up shop in Hong Kong, a historically stable, expat-friendly finance hub at the doorstep of mainland China. But lately, as Beijing has tightened its grip on the former British colony, those firms are increasingly eyeing the exits. Nearly half of

By Matt Egan, CNN Business The US oil industry doesn’t appear to be in any rush to come to the rescue of Americans struggling with high gas prices. Oil company CEOs say Wall Street is to blame. Fifty-nine percent of oil executives said investor pressure to maintain capital discipline is the primary reason publicly traded

By Anna Bahney, CNN Business Mortgage rates continued to rise amid fears of inflation and geopolitical uncertainty. The 30-year fixed-rate mortgage averaged 4.42% in the week ending March 24, up from 4.16% the week before, according to Freddie Mac. The 30-year fixed-rate mortgage increased by more than a quarter of a percentage point as mortgage

By Paul R. La Monica, CNN Business Just 187,000 people in the United States filed for initial weekly unemployment benefits last week, lower than economists’ expectations of 210,000, according to data released Thursday by the Department of Labor. The last time the weekly number was that low was September 6, 1969, shortly after Neil Armstrong