CNN – Business/Consumer

By Olesya Dmitracova, CNN Europe’s two largest central banks raised interest rates sharply on Thursday, opting for bigger increases than the US Federal Reserve as inflation in the region remains near historically high levels. The European Central Bank (ECB) and the Bank of England lifted rates by another half a percentage point. Benchmark interest rates

By Alicia Wallace, CNN A week that has been chock-full of economic data will be capped off Friday with the first US jobs report of 2023. Economists estimate that 185,000 positions were likely added in January, according to Refinitiv. That would be a considerable drop from the 504,000 jobs added in January 2022 and the

By Peter Valdes-Dapena, CNN Bugatti sold its last purely gas-powered supercar at a Paris auction Wednesday for more than $10 million, setting a world auction record for a new car. Originally a special development model that was never intended to be sold, the one-of-a-kind Bugatti Chiron Profilée sold at RM Paris collector car auction for

By Jeanne Sahadi, CNN Interest rates are higher (again), courtesy of the Federal Reserve, which hiked its benchmark interest rate Wednesday, for the eighth time in a row since last March. So how come you’re not getting a higher rate on your bank savings? If your hard-earned money is just sitting in an account at

By Mark Thompson, CNN Indian billionaire Gautam Adani on Wednesday abandoned a deal to raise $2.5 billion from investors after a week-long meltdown in the value of his logistics and energy business empire that started when an American short seller accused the conglomerate of fraud. The share sale — the largest offering by a company

By Alicia Wallace, CNN Despite the looming threat of recession and the cacophony of mass layoff announcements, US businesses still need workers — 11.01 million of them. The number of available jobs unexpectedly rose in December, climbing from a revised 10.44 million openings in November and exceeding economists’ expectations of 10.25 million, according to Bureau

By Oliver Darcy, CNN Business The digital media conglomerate BDG, which houses brands such as Elite Daily and Bustle, announced on Wednesday that it will slash its workforce by 8% and shutter the recently relaunched news and gossip website Gawker. In an email to employees, chief executive Bryan Goldberg said the company is “facing a

By Kara Scannell, CNN Sam Bankman-Fried is in trouble, once again, for talking too much. A federal judge on Wednesday temporarily tightened the FTX founder’s bail conditions after learning that Bankman-Fried sent a text message to a former top executive of the crypto trading platform. The judge said that appeared to be a “material threat

By Danielle Wiener-Bronner, CNN Good news: Beyoncé’s Renaissance tour is happening. Bad news: Fans are already gearing up for a difficult time getting tickets, especially following Ticketmaster’s botched ticket rollout for Taylor Swift’s Eras tour. Beyoncé announced the tour — which had been previously rumored — on Wednesday. In an Instagram post, the superstar posted

By Hanna Ziady, CNN Stung by the Biden administration’s huge green subsidy program, the European Union unveiled plans for its own “Green Deal” Wednesday to cut red tape and deliver tax breaks. The Green Deal Industrial Plan will “enhance the competitiveness of Europe’s net-zero industry” by simplifying regulation, speeding up access to finance, enhancing skills