By Nicole Goodkind, CNN 2022 was the worst year on record for bonds. Despite a promising start, 2023 is starting to look rough, too. The recent global bond rally appears to be tapering off as investors are getting a cold wet dose of reality about Fed rate hikes. Bad news for bonds could spell bad
Continue Reading By Jordan Valinsky, CNN Target’s decision to cut prices to boost sales has paid off. The retailer’s holiday-quarter sales at stores open at least a year rose nearly 1% compared to same period in 2021. That came in well above analysts’ expectations: Wall Street had expected sales to slip. Consumers spent more of their money
Continue Reading By Rhea Mogul, CNN Dancing South Korean diplomats have won the hearts of millions of Indians with their viral video performance of Oscar-nominated song “Naatu Naatu,” reinforcing Seoul’s soft power diplomacy and even earning a nod of approval from India’s leader. In a video clip posted to Twitter on Sunday, staff from South Korea’s embassy
Continue Reading By Oliver Darcy, Jon Passantino, Marshall Cohen, Nicki Brown, Kate Trafecante, Anna Bahney and Jeanne Sahadi, CNN A trove of text messages, emails, and other material from Fox News executives and on-air personalities were made public Tuesday as part of Dominion Voting Systems’ $1.6 billion defamation lawsuit against the right-wing channel. Among the the hundreds
Continue Reading By Oliver Darcy and Jon Passantino, CNN Rupert Murdoch, the chairman of Fox Corporation, acknowledged in a deposition taken by Dominion Voting Systems that some Fox News hosts endorsed false claims that the 2020 election was stolen. Murdoch’s remarks were made public in a legal filing as part of Dominion’s $1.6 billion lawsuit against Fox
Continue Reading By Oliver Darcy, CNN Rupert Murdoch, the chairman of Fox Corporation, acknowledged in a deposition taken by Dominion Voting Systems that some Fox News hosts endorsed false claims that the 2020 election was stolen. Murdoch’s remarks were made public in a legal filing as part of Dominion’s $1.6 billion lawsuit against Fox News. In his
Continue Reading By Ramishah Maruf, CNN TD Bank will pay $1.2 billion to settle a lawsuit alleging its involvement in an infamous $7 billion Ponzi scheme orchestrated by disgraced financier Allen Stanford more than a decade ago. Toronto-Dominion Bank agreed to pay $1.205 billion to a court-appointed receiver who will in turn pay back victims of the
Continue Reading By Anna Bahney, CNN Pending home sales crushed expectations in January, when mortgage rates dropped from recent highs of more than 7% and home buyers jumped at the opportunity. According to data released Monday from the National Association of Realtors, it was the largest monthly sales increase since June 2020. The pending sales index, based
Continue Reading By Alicia Wallace, CNN Treasury Secretary Janet Yellen said Monday she believes US inflation remains too high but that a soft landing is on the radar. During an exclusive interview with CNN’s Melissa Bell from Kyiv, Yellen said the Federal Reserve’s efforts to date to bring down inflation while maintaining a strong labor market appear
Continue Reading By Jon Passantino and Oliver Darcy, CNN Andrews McMeel Universal, the company that syndicates “Dilbert,” said it is cutting ties with the comic strip’s creator, Scott Adams, after his racist remarks about Black Americans led hundreds of newspapers across the country to drop the satirical cartoon. In a joint statement, Andrews McMeel Chairman Hugh Andrews
Continue Reading By Paul R. La Monica, CNN So much for that big stock market comeback this year. Sure, it’s only February. But the Dow is now down almost 1% after a sizzling start to the year. At one point in mid-January, the average of 30 blue chips was up nearly 4% in 2023. The S&P 500
Continue Reading By Ramishah Maruf, CNN Warner Bros. Discovery filed a lawsuit against Paramount Friday, claiming the rival media company breached its half-billion-dollar exclusivity contract with HBO Max by airing “South Park” on its own streaming platform, Paramount+. HBO Max is a unit of Warner Bros. Discovery, which also owns CNN. Nearly all “South Park” episodes air
Continue Reading By Chris Isidore, CNN Norfolk Southern CEO Alan Shaw sold $448,000 worth of the company’s stock this week, a month after the toxic train derailment in East Palestine, Ohio, that is still being cleaned up. Shaw’s stock sale came the same week the company announced Shaw had personally set up a $445,000 scholarship endowment fund
Continue Reading By Chris Isidore, CNN Union Pacific shares jumped 10% in premarket trading Monday after the railroad company announced CEO Lance Fritz, 60, will leave the company by year-end, following a call by an activist hedge fund for his ouster. Union Pacific just reported a record profit for the second straight year. But the hedge fund,
Continue Reading by Oliver Darcy, CNN Newspapers across the country dropped the “Dilbert” comic strip over the weekend after the creator of the satirical cartoon went on a racist tirade, calling Black Americans a “hate group” and suggesting that White people should “get the hell away” from them. The USA Today Network, which operates hundreds of newspapers,
Continue Reading By Ramishah Maruf, CNN Dilbert is coming back. At least in a different sense. Scott Adams, the comic creator who was dropped by hundreds of publications after his recent racist comments, tweeted that “Dilbert Reborn” will launch exclusively on his subscription site on March 13. Adams told the Washington Post the initial strips will show
Continue Reading By Parija Kavilanz, CNN Adidas last year dumped Ye (formerly known as Kanye West) and his once hugely popular Yeezy clothing and sneaker brand because of his antisemitic remarks. But the controversy has seemingly spurred demand for the shoes. Yeezy sneakers currently are among the top three sellers on Impossible Kicks, a large online reseller
Continue Reading By Jordan Valinsky, CNN Elon Musk defended “Dilbert” creator Scott Adams after hundreds of newspapers stopped printing the comic strip because of Adams’ recent racist comments. Last week, Adams called Black Americans a “hate group” and suggested that White people should “get the hell away” from them. Adams effectively encouraged segregation in a shocking rant
Continue Reading By Nicole Goodkind, CNN Analysts have long expected a slowdown in the US labor market, but for the past 10 months, the data has come in better than expected. That may sound like a good thing for the economy, but as the Federal Reserve attempts to fight inflation, the still-hot jobs market is signaling that
Continue Reading By Jessie Yeung, CNN China is surging ahead with coal, a new report shows, rapidly approving and building new power plants despite its own promises to cut back on carbon as the world plunges ever deeper into the climate crisis. Last year, the country approved the highest number of new coal-fired power plants since 2015,
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