CNN – Business/Consumer

By Anna Bahney, CNN Washington, DC (CNN) — Mortgage rates are nearing 8%. Prices have climbed for the past three months straight. And there were fewer homes on the market in September than any September ever. No wonder home sales just hit a 13-year low. It is a crummy time to try to buy a

By Matt Egan, CNN Business New York (CNN Business) — Dick Wolf, the creator of “Law & Order,” wrote a letter to Liz Magill pleading with her to step down as president of the University of Pennsylvania. Wolf, the namesake of UPenn’s Wolf Humanities Center, is among a growing list of powerful donors vowing to

CNN By Matt Egan, CNN Business New York (CNN Business) — Dick Wolf, the creator of “Law & Order,” wrote a letter to Liz Magill pleading with her to step down as president of the University of Pennsylvania. Wolf, the namesake of UPenn’s Wolf Humanities Center, is among a growing list of powerful donors vowing

By David Goldman, CNN New York (CNN) — “The Problem with Jon Stewart” will not come back to Apple TV+ for a third season, bringing a surprise and sudden end to the increasingly popular show led by the former “Daily Show” host. Stewart informed staff Thursday that he and Apple executives agreed to part ways,

By Peter Valdes-Dapena, CNN Business (CNN) — Toyota has joined the growing list of automakers that have decided to switch to using Tesla’s charging standard. Beginning in 2025 all Toyota electric vehicles sold in the US will have charging ports designed to work with Tesla’s North American Charging Standard (NACS), rather than the Combined Charging

By Elliott Gotkine London (CNN) — From ESG investing (Blackrock), to gay rights (Disney), to Donald Trump after the Capitol riots (mainstream corporate America), companies routinely take a stand. Sometimes, as with Nike and Colin Kaepernick, it helps their bottom line. Sometimes, it does the opposite — think Bud Light’s support of transgender rights. Perhaps

By Nicole Goodkind, CNN New York (CNN) — For a while now the theme of “higher for longer” has dominated market speak – that’s the idea that the Federal Reserve will keep interest rates elevated for a prolonged period of time to bring inflation down. But a rise in long-term Treasury yields could be doing

By Danielle Wiener-Bronner, CNN New York (CNN) — Tyson, a major US producer of beef, pork and chicken, is betting on protein that comes from insects. The meat processor said on Tuesday that it has invested in Protix, a Netherlands-based insect ingredients maker. Tyson is not only taking a minority stake in the company, but

By Juliana Liu Hong Kong (CNN) — China has unveiled plans to restrict exports of graphite — a mineral crucial to the manufacture of batteries for electric vehicles (EVs) — on national security grounds, the Ministry of Commerce and the General Administration of Customs said Friday. The announcement comes just days after the United States

By Chris Isidore, CNN New York (CNN) — When University of Pennsylvania President Liz Magill was tapped for the post just 18 months ago, she was heralded as the “clear consensus” to lead the Ivy League university. Today that consensus is nowhere to be found. In trying to placate everyone on the contentious issues of

By Emiko Jozuka and Junko Ogura, CNN Tokyo (CNN) — China has formally arrested a Japanese man who was detained in March, according to officials from Japan’s Ministry of Foreign Affairs (MOFA) and the Japanese Embassy in Beijing. The arrest of the Japanese national, who was reportedly an employee of a Tokyo-based pharmaceutical firm, could

By Oliver Darcy, CNN (CNN) — Mitt Romney, once the Republican Party’s standard-bearer, believes the right-wing media machine is at fault for much of the radicalization that has disfigured the GOP. The Utah senator and one-time GOP presidential nominee unleashed a torrent of criticism aimed squarely at the information universe in which most of his

By Matt Egan, CNN (CNN) — Moody’s Investors Service warned Thursday it could downgrade Israel’s credit rating due to the severity of the military conflict with Hamas. A downgrade could make it more expensive for Israel to borrow just as the country gears up for what could be a prolonged war. “Israel’s credit profile has

By Donie O’Sullivan, CNN (CNN) — Some of the biggest peddlers of misinformation about the Israel-Hamas war on Elon Musk’s X platform are premium, so-called “verified” accounts that pay the social media company formerly known as Twitter to promote their posts to boost visibility, a report released Thursday found. Establishing the truth in any conflict

By Anna Cooban, CNN London (CNN) — The European Union has told Meta it has a week to explain in greater detail how it is fighting the spread of illegal content and disinformation on its Facebook and Instagram platforms following the attacks across Israel by Hamas. The European Commission, the bloc’s executive arm, said it

By Anna Bahney Washington, DC (CNN) — Mortgage rates continued to climb last week amid a stronger-than-expected economy and geopolitical uncertainty in the Middle East. The 30-year fixed-rate mortgage averaged 7.63% in the week ending October 19, up from 7.57% the week before, according to data from Freddie Mac released Thursday. A year ago, the

CNN By Parija Kavilanz, CNN New York (CNN) — Rite Aid, which had filed for Chapter 11 bankruptcy protection, is now preparing to shed more than 100 stores nationwide as part of its restructuring efforts. The first tranche of stores to be sold — both leased and owned — is located in twelve states, according

By Allison Morrow (CNN) — The fallout from the colossal implosion of Sam Bankman-Fried’s crypto business is still rippling through the digital asset industry nearly a year later. On Thursday, New York’s attorney general filed a lawsuit against three digital asset firms that were caught up in the collapse of Bankman-Fried’s empire last fall —

By Anna Bahney, CNN Washington, DC (CNN) — Home sales dropped in September to the lowest level since the foreclosure crisis as surging interest rates and climbing home prices made buying a home unattainable for a growing share of would-be buyers. Historically low inventory of homes for sale continued to push prices up and rates

By Nathaniel Meyersohn, CNN New York (CNN) — Influential donors to Harvard University and the University of Pennsylvania say they will cut their ties to the schools in protest of college administrators’ response to alleged anti-Israel speech and antisemitism on campuses in the wake of Hamas’ terror attacks. Major donors pulling out won’t inflict significant