CNN – Business/Consumer

By Nicole Goodkind, CNN Reddit investors have been the butt of many jokes over the last few years, but could these much-maligned meme traders have the last laugh? A surprising new survey finds that 58% of institutional investors — the professionals who trade on behalf of banks and pension funds, the so-called “smart money” —

By Hanna Ziady, CNN Credit Suisse can’t catch a break. In the latest piece of troubling news, the beleaguered Swiss bank has delayed the publication of its 2022 annual report following a “late call” from the US Securities and Exchange Commission on Wednesday evening. The SEC got in touch over revisions the bank had previously

By David Goldman, CNN JPMorgan Chase sued former executive James Edward “Jes” Staley, who was largely responsible for JPMorgan’s 15-year financial relationship with disgraced financier Jeffrey Epstein. The US Virgin Islands government filed a lawsuit against JPMorgan in December, alleging the bank “had a more than close-up view of Epstein’s sex-trafficking” and “ignored obvious red

By Oliver Darcy, CNN Dominion Voting Systems and Fox News traded barbs in new court filings Wednesday, with the election technology company accusing Fox of wanting a “license to knowingly spread lies,” and the right-wing channel claiming the lawsuit is an “unprecedented assault on the First Amendment.” The filings tee up a high-stakes hearing in

By David Goldman, CNN The White House lashed out at Fox News host Tucker Carlson Wednesday in an extraordinary rebuke of the late-night commentator who has been airing false depictions of the January 6, 2021, attack this week. Carlson, given access to about 40,000 hours of US Capitol security camera footage by Republican House Speaker

By Danielle Wiener-Bronner, CNN Why aren’t prices falling at the grocery store? When food producers started raising prices a few years ago, they blamed their own costs, including higher ingredient prices. But ingredient prices have actually been on a downswing for months, and individuals are still paying more for food. In part, it’s because food

By Alicia Wallace, CNN There’s a slight chill running through the US labor market, but the temperature is still too high for the Federal Reserve. The number of job openings in the United States fell to 10.8 million in January, down from an upwardly revised 11.23 million in December, the Bureau of Labor Statistics reported

By Anna Bahney, CNN The United States is not building enough homes to account for the number of people setting up their own households. As a result, there is a sizable shortage of new homes after more than a decade of under-building relative to population growth, according to a new analysis from Realtor.com released Wednesday.

By Chris Isidore, CNN Federal safety regulators are investigating Tesla’s Model Y SUV after at least two instances in which owners said their steering wheels became detached while the vehicle was being driven. The National Highway Traffic Safety Administration is looking at the 2023 model year. It said in the two instances in which the

By Anna Cooban, CNN Adidas has warned that it could suffer its first annual operating loss in more than three decades this year, mostly because it may have to write off the entire range of Yeezy-branded clothing and sneakers. The German sportswear maker said Wednesday that it would face an operating loss of €700 million

By Nicole Goodkind, CNN Federal Reserve Chairman Jerome Powell on Tuesday cleared the way for larger interest rate hikes at this month’s central bank policy meeting, sending markets into a tailspin. In his remarks to the Senate Committee on Banking, Powell said that economically painful interest rate hikes are “likely to be higher than previously

By Anna Cooban, CNN Investors are bucking tradition this year by piling into big bank stocks just as major economies are expected to either slow down or fall into recession. The Stoxx Europe 600 Banks index, a group of 42 big European banks, climbed 21% between the start of the year and late February —