Economy

Jack Ma made $18.5 billion this year

These are the biggest wealth gainers and losers of 2014, according to Wealth-X.  More

Who loses if Russia implodes?

Russia's uncertain future has caused a ripple effect for countries and businesses around the world that it trades with. But who in the West has most to lose if things go from bad to worse in Russia?  More

Airline stocks and profits soar thanks to oil plunge

Jet fuel decline saving airlines billions of dollars but that is going to fatter profits, higher stock prices, not lower fares for customers.  More

When raising the minimum wage isn't enough

Vermont has some of the most progressive wage-and-hour laws in the country, but low-income workers are still struggling.  More

Small businesses shift employees to Obamacare

How many other owners shift their workers to Obamacare will help set the future of small business health insurance.  More

Russia's slide toward economic crisis - and why it matters

Russia has been brought to the brink of a new economic crisis by poor government, its meddling in Ukraine and the oil price slump.  More

Toys 'R' Us extends hours for last-minute shoppers

The chain's pre-Christmas marathon isn't what it once was, but the Times Square location will stay open continuously for a week.  More

Putin's cronies lose $50 billion

Russia's unfolding economic nightmare has already wiped $50 billion off the combined wealth of the countries top 15 oligarchs.  More

Oil plunge takes price below $55 a barrel

Oil prices fall to five-year low, pointing to further declines in price of gas ahead.  More

China's factories losing steam

China's factories are losing steam as the year draws to a close, adding to worries that the world's second-largest economy is slowing.  More

Russia's shock-and-awe move fails to halt ruble collapse. What now?

Russian policymakers have few options left to contain the currency crisis and none of them are particularly attractive.  More

Concern but no panic yet on Moscow's streets

Russians are not panicking yet about the 50% collapse in the ruble but there are signs of growing concern.  More

Russia's ruble rout rattles emerging markets

Russia's currency rout has sent a shudder through global markets and the sell-off is spreading to other emerging markets.  More

U.S. takes a $35 billion hit from falling oil

The value of oil held in the Strategic Petroleum Reserve has plunged by nearly half in the last six months, falling about $35 billion in value.  More

Oil is the Federal Reserve's 800-pound gorilla

The Federal Reserve holds its final meeting on 2014 this week. Jobs and oil are likely top of the agenda.  More

Michael Bloomberg: Cities drive innovation

In 2011, Bloomberg Philanthropies awarded innovation grants to 5 U.S. cities. Former NYC Mayor Michael Bloomberg discusses their successes and announces the next recipient cities.  More

10 Sandy Hook families sue Bushmaster

Parents of 10 children killed at Newtown sue Freedom Group  More

Busiest day of season for FedEx, postal service

With just 10 days left until Christmas, Monday is the peak shipping day of the season for FedEx (FDX) and the U.S. Postal Service.  More

Gas for less than $2 is now widespread

Thirteen states now have at least one station selling gas for less than $2 as falling oil prices result in widespread relief at the pump.  More

Japan's Abe must deliver on economy after victory

Having won a landslide in weekend elections, Japanese Prime Minister Shinzo Abe must now deliver the economic reforms he's been promising for two years.  More

5 fat roadblocks in the way of tax reform

There's consensus on what needs to be done to reform the corporate tax code in 2015. But there are many reasons it likely won't happen.  More

America's 10 most unequal cities

New York City is one of the most unequal cities in the U.S., but a few places that beat it out.  More

Elizabeth Warren ends up a winner in spending fight

Elizabeth Warren's campaign and No vote against the government spending bill fueled those who want her to run for the 2016 Democratic nomination for president.  More

Wealth: America's other racial divide

Amid spiking racial tensions, CNNMoney uncovers one of the major divisions between blacks and whites in America: wealth.  Play

Russia is buying weapons - a lot of them

Russian defense companies boosted weapons sales by more than 20% last year, driven by demand from the country's military.  More

OPEC isn't scared of $40 oil

The energy minister for United Arab Emirates says the middle eastern oil producers aren't "targeting a price" and they believe "the market will stabilize itself."  More

Toys 'R' Us 'layaway angels' pay thousands for others' gifts

Two customers at separate stores in Massachusetts paid for every customers' layaway items  More

Cheap gas could kill U.S. oil export ban

Advocates of allowing U.S. oil export see cheaper gas prices as giving their efforts a better shot early next year.  More

Opinion: Venezuela squandered oil riches, now faces default

With oil prices falling, Venezuela teeters on defaulting on its debt. If it does, creditors might yank assets like CITGO from President Nicolás Maduro.  More

What Wall Street won in budget deal

Controversial change to financial regulation allows banks to again create and trade swap contracts.  More

Congress moves one step closer to allowing pension cuts

More than a million current and retired truck drivers, construction workers and other union workers could see their pension benefits cut if Congress passes a proposal aimed at shoring up some of the nation's biggest pensions.  More

Rahm Emanuel: How Chicago saved its small businesses

With a Bloomberg Philanthropies grant, Chicago doubled down on small business: It developed new funding programs, reduced the time it takes to open a restaurant by 33%, created training materials in five languages and supported new incubators.  More

White-black wealth gap widens to near record levels

The Great Recession hit all Americans hard, but only whites have seen their wealth rise during the recent recovery.  More

Plunging oil prices may trigger unrest

The International Energy Agency has warned that a global glut of oil will persist next year, putting further pressure on prices and raising the risk of unrest in some producing countries.  More

Travel of tomorrow: Dream vs. reality

These futuristic transportation methods may seem like the stuff of sci-fi, but the reality isn't as cool as you think.  More

Fired Delta worker fights to get his job back

Kip Hedges, a Minneapolis Delta baggage handler for 26 years, wants his job back. He was fired last week for comments he made about the airline's low wages.  More

1,000 S.F. airport workers on strike

Union urges anyone flying out of SFO to bring their own food, as striking workers are fighting a proposal that would increase their health care costs by $4,200 a year.  More

Atlanta reduces homeless population (and saves money in the process)

With the help of Bloomberg Philanthropies, Atlanta Mayor Kasim Reed targeted homelessness and customer service as the city's two greatest needs.  More

Is this photograph worth $6.5 million?

It's the most expensive photo ever and the Internet is buzzing over whether it was worth it.  More

Russia fights ruble crash with 5th rate rise

Russia has hiked interest rates for a fifth time this year, piling on the pain for its stagnating economy.  More

McDonald's is shrinking its menu

But don't worry, the Big Mac and Quarter-Qounder with Cheese aren't going anywhere.  More

Elizabeth Warren is really angry about Dodd-Frank change

Elizabeth Warren came out swinging against a compromise in the government funding bill that she says undermines protections established after the financial crisis.  More

Cheap gas is akin to a $60 billion tax cut

The dramatic fall of gas prices is pumping up the U.S. economy. Retailers are especially giddy.  More

Another Democrat joins fight against Treasury pick

Sen. Jeanne Shaheen teams up with Elizabeth Warreen against Antonio Weiss, a Wall Street insider who is Obama's Under Secretary of Domestic Finance nominee.  More

'Google tax' targets Big Tech

The U.K. and Australia are moving to introduce new legislation to force tax-dodging multinationals to pay their fair share.  More

Data drives innovation in Louisville

By using data, Louisville has boosted exports, cut rezoning approval times and increased pet adoptions.  More

Wounded OPEC to feel more pain next year

OPEC expect to lose more market share next year, meaning even deeper pain for its high cost producers such as Iran and Venezuela.  More

3 reasons why Greek turmoil matters

Political turmoil in Greece has sent investors packing and raises this question for the rest of the world: should we be worried too?  More

Chinese couples fly to London for their wedding pics

London is becoming an increasingly popular destination for Chinese couples looking for the perfect wedding photographs.  More

Kohl's to stay open for five days straight

Kohl's announced plans to keep its 1,100 department stores open around the clock for the five days leading up to Christmas.  More

New Orleans' top priority: Cut its murder rate

New Orleans' murder rate was one of the highest in the country, so when the city won a $3.7M Bloomberg Philanthropies grant, Mayor Mitch Landrieu set out to lower it.  More

Swedish police shut down Pirate Bay

Swedish police have shut down The Pirate Bay just days after movies stolen from Sony appeared on the site.  More

Torture report reveals CIA spent $300 million

A report on enhanced interrogation techniques reveals the CIA spent $300 million on interrogation centers and payments to host countries.  More

China ivory craze kills 100,000 elephants

Expert says "African elephants could disappear from the wild within a generation," unless China does more to end the sale of ivory.  More

Obamacare creates boom for federal contractors

Business purchases by the Department of Health and Human Services have doubled to $21 billion annually in the last decade, and the agency is now the No. 3 contracting agency.  More

Income inequality hurts economic growth

The gap between rich and poor is bad for economic growth because it limits access to education for the bulk of the workforce, according to the OECD.  More

Greek stocks plunge after call for new presidential elections

Stocks in Athens plunged 11% and bond yields jumped Tuesday as political uncertainty rattled investors after a call for presidential elections cast doubt over the security of its bailout program.  More

Gas: $2 and still falling

Gas could be below $2 a gallon across the country by spring as oil prices continue to slide.  More

Austerity to shrink U.K. government spending to 1930s levels

Britain will have its smallest government since the 1930s if plans for a decade of austerity take effect.  More

How Memphis is lowering crime and reviving neighborhoods

Memphis Mayor A C Wharton identified youth gun violence and neighborhood blight as the biggest issues facing his city. Here's how he used a grant from Bloomberg Philanthropies to improve them.  More

Obama's economy - How it stacks up

The recovery is picking up, but how does it compare to the Reagan, Bush and Clinton years?  More

Who's hiring? Almost everyone

Government figures shows about 70% of employers now hiring, helping to lift 2014 to best job growth this century.  More

2015: The year when the oil crisis ends?

Plunging oil prices reflect a huge shift in the global balance of power, with lasting political and economic consequences.  More

America's job recovery in 6 charts

Hiring is up across the board, but wages haven't increased since 2007.  More

2014 is best year for job gains since 1999

Unemployment rate remains steady at 5.8% as employers added 321,000 jobs to payroll in November.  More

Still waiting for a pay raise? You're not alone

Wages are stuck in a low gear as the tepid global recovery keeps a lid on pay -- and without China powering ahead things would be even worse.  More

Sriracha, Ginger, & Honey Oh My

Cristina Alesci visits Pizza Hut's test kitchen in Plano, Texas to taste the company's new pizzas and to learn how they're trying to revitalize their brand.  Play

Child care costs more than college

The costs of full-time child care can amount to as much as 85% of income for a family at the poverty line, according to a new report.  More

Europe punts again on more stimulus

European Central Bank President Mario Draghi dashed hopes that he may give the economy an early Christmas gift in the form of quantitative easing.  More

Iraq vet protests for more than $8.50 an hour

Thousands of fast food workers are expected to strike in 190 cities Thursday, demanding a $15 an hour wage, including Iraq war veteran Steven Wilkerson.  More

Ho, ho, go! Aeropostale closing 75 stores during holiday season

Aeropostale announces plans to pick up store closings during the current quarter and close more stores next year.  More

Think health care costs are soaring? Think again.

Growth In U.S. Health Spending In 2013 Is Lowest Since 1960, according to federal statistics.  More

For some, gasoline has fallen below $2

Increased U.S. oil production, sluggish European and Asian economies and more fuel efficient cars are driving prices down.  More

America's uber rich are getting younger and younger

Inequality is back to levels not seen since the 1920s, and today's elite are more youthful.  More

The money at stake in the tax break fight

A slew of expired tax breaks may soon be renewed retroactively for 2014 at a cost of $42 billion. Not a budget buster by itself, except that it's the kind of money Congress has been spending every year or two when it renews virtually the same "temporary" tax breaks over and over.  More

U.S. Army wants a new gun

They're holding a competition for the big-dollar contract -- and bragging rights.  More

Kalashnikovs get new look to boost sales as Russian sanctions bite

Russian machine gun maker Kalashnikov is getting a facelift that it hopes will spur sales as punishing international sanctions bite.  More

Americans pour $2 billion into Cyber Monday

While brick and mortar retailers have seen declining traffic and spending this holiday season, new numbers show their online counterparts are getting a boost.  More

Is Russia's central bank guilty of sabotage?

Forget plunging oil prices or nasty Western sanctions -- apparently the country's central bank is to blame for the crisis now slowly strangling the economy.  More

Elizabeth Warren's foot soldiers mobilize against Obama nominee

A progressive group called CREDO says it has more than 105,000 signatures on an online petition against President Obama's nomination of Antonio Weiss to a key Treasury Department role.  More

How I paid off my student loans at 26

I only make $36,000 a year, but all the skimping was worth it to be debt free.  More

Chicago hikes minimum wage to $13

While the Democratic push to raise the federal minimum wage higher than $7.25 has stalled, cities and states are pushing ahead without Congress.  More

Good news! Hiring to pick up in 2015

American employers intend to hire more next year, but they still can't find skilled workers.  More

6 reasons car buyers are back

Car buyers flood dealerships in November, making it one of the best months for automakers in the last eight years.  More

It's official: Russia heads into recession

It's official. Russia is heading into recession. And for the first time, it admits it.  More

Gun sales boomed in November

Ferguson fears and a record Black Friday for the industry drove gun sales significantly higher last month.  More

The world's 10 richest recording artists

Check out the 10 richest recording artists in the world.  More

Walmart says Cyber Monday was its biggest online day ever

Walmart said the Monday after Thanksgiving "was the biggest online day in its history for orders."  More

Japanese voters to give verdict on Abenomics

Japanese Prime Minister Shinzo Abe needs more time to deliver an economic revival. Will voters give it to him?  More

Fed official: Dreary days for U.S. economy may be over

William Dudley believes America's economy may have finally shaken its Great Recession hangover.  More

The airport of the future

The airport of the future means less walking, sun-filled terminals and sustainable environmental practices.  More

World's most corrupt industries

Extraction, construction and transportation are the three sectors with the highest number of foreign bribery cases.  More

Ouch! Cheap oil is squeezing these countries

These countries are counting on oil exports -- and high prices. Oil in the mid-$60s is already below the break-even point for many.  More

Moody's downgrades Japan on debt worries

Moody's ratings agency has cut Japan's government debt rating by one notch, warning that policymakers will struggle to boost growth and get debt levels under control.  More

Fewer shoppers hit the stores on Black Friday

The National Retail Federation, which tracks customer visits to stores as well as sales, reported that 5.1 million fewer people were out shopping on Black Friday than last year.  More

Black Thursday? Thanksgiving sales numbers growing

The early estimates on Black Friday sales are in, and the verdict: Shoppers increasingly are shifting their buying to Thanksgiving Day.  More

Foreign name? Expect a tougher job hunt

Job seekers with foreign-sounding names have to send out twice as many resumes as other candidates before landing an interview.  More

Oil prices plunge to lowest level in five years

Oil prices plunge to their lowest level in five years, piling pressure on Russia and other producers and raising the risk of deflation in Europe.  More
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