Money

By Nicole Goodkind, CNN Business What seemed unfathomable just six months ago — a 75-basis-point rate hike by the Federal Reserve — has now happened twice in a row. At the conclusion of its July monetary policymaking meeting, members of the US central bank on Wednesday once again approved a supersized interest rate hike of

By Matt Egan, CNN Business The Federal Reserve is stepping up its war on inflation. That means borrowing costs are going sharply higher for families and businesses. The US central bank last increased its benchmark interest rate by three-quarters of a percentage point, which is the biggest single hike since 1994. This follows the Fed’s

By Chris Isidore, CNN Business Boeing has become so embattled, the company’s stock rose even after reporting a worse-than-expected loss and sales that came in $900 million short of forecasts. For a company that has endured a steady stream of bad news for the last three years these latest results nearly qualify as a “good”

By Jeanne Sahadi, CNN Business With the Federal Reserve’s interest rate hike on Wednesday — its fourth since March — consumers again face the question of where to park their savings for the best return and how to minimize their borrowing costs. In its bid to beat back high inflation, the US central bank hiked

By Michelle Toh, CNN Business South Korea’s second biggest conglomerate is investing $22 billion into the United States, in high-priority areas including chips and clean energy. The funding announcement comes just as the group’s massive chipmaking unit warned of weaker consumer demand for technology products for the rest of the year. It also coincided with

By Nicole Goodkind, CNN Business Wall Street has a serious case of recession dread. Inflation is at a 40-year high and the Federal Reserve is aggressively hiking interest rates. Economic growth is slowing and, and so is the job market. Cracks are forming in the home-building and home-buying markets as mortgage rates have surged. Consumer

By Lauren del Valle and Oliver Darcy, CNN The lawyer for two Sandy Hook families that have sued right-wing conspiracy theorist Alex Jones asked a jury on Tuesday to award his clients $150 million in damages in a trial that will determine how much money they receive. “Now that is a huge verdict to be

By Parija Kavilanz, CNN Business Cosmetics company Glossier, which has cultivated a cult-like following among Millennials and Gen Zers, announced Tuesday it is bringing the brand into Sephora stores in its first retail partnership. Sephora stores nationwide and across Canada will start selling Glossier products beginning in early 2023 as well as on Sephora’s website