By Paul R. La Monica, CNN Business Good news for student loan holders is bad news for anyone who happens to be an investor in fintech company SoFi. Shares of SoFi tumbled 7% Thursday after the Biden administration extended a moratorium on federal student loan repayments. SoFi offers private student loans and refinancings to undergraduates
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By Anneken Tappe, CNN Business America’s labor market is on fire. There are far more available jobs than workers and the latest data on initial weekly unemployment claims underscores that imbalance. Initial claims for jobless benefits fell to 166,000 in the week ended April 2, adjusted for seasonal swings, the Labor Department reported Thursday. That
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By Anna Bahney, CNN business Mortgage rates rose again this week, inching closer to 5%. The 30-year fixed-rate mortgage averaged 4.72% in the week ending April 7, up from 4.67% the week before, according to Freddie Mac. That’s the highest since December 2018. Rates have jumped this year at a pace not seen in decades.
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By Chris Isidore, CNN Business Christine Lagarde, the president of the European Central Bank, disclosed Thursday that she has tested positive for Covid. Lagarde, 66, announced her positive test in a tweet. She said that she is full vaccinated and has received a booster shot. “My symptoms are thankfully reasonably mild,” she said. “I will
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By Peter Valdes-Dapena, CNN Business With the GMC Hummer EV, General Motors designers and executives wanted to create a vehicle that would destroy stereotypes about electric vehicles and what they’re capable of doing. On that count, the GMC Hummer EV is a remarkable success. It is unlike any EV — or really, any vehicle with
Continue Reading By Rachel Metz, CNN Business Google wants to make it easier to search for things that are hard to describe with just a few words or an image. On Thursday, Google rolled out a new search option that lets you combine text and images in a single query. With this feature, you could search for
Continue Reading By Rachel Metz, CNN Business Google wants to make it easier to search for things that are hard to describe with just a few words or an image. On Thursday, Google rolled out a new search option that lets you combine text and images in a single query. With this feature, you could search for
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By Brian Stelter, CNN Business Starting in May, MSNBC’s highest-rated star Rachel Maddow will be hosting her 9 p.m. Eastern show just one day a week — on Mondays — while she pivots to other projects for parent company NBCUniversal. The new schedule has an end-of-an-era feel for MSNBC, since so much of the channel
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By Julia Horowitz, CNN Business For years, billionaire investor Warren Buffett has been sitting on a mountain of cash. But with stocks at record highs, he struggled to find deals that caught his eye. Now, with many other investors in selling mode, he’s going shopping. What’s happening: Buffett’s Berkshire Hathaway just disclosed that it bought
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By Donie O’Sullivan and Sean Lyngaas, CNN Business Facebook parent company Meta detailed Thursday an array of shady cyber tactics that it says groups linked to Russia and Belarus are using to target Ukrainian soldiers and civilians. The tactics the groups are using, according to Meta, include posing as journalists and independent news outlets online
Continue Reading By Donie O’Sullivan and Sean Lyngaas, CNN Business Facebook parent company Meta detailed Thursday an array of shady cyber tactics that it says groups linked to Russia and Belarus are using to target Ukrainian soldiers and civilians. The tactics the groups are using, according to Meta, include posing as journalists and independent news outlets online
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By Anna Cooban, CNN Business The UK government wants to dramatically ramp up production of nuclear power and wind energy, while also drilling for more oil and gas, in a bid to reduce imports and bring down eye-watering prices. Unveiling its new Energy Security Strategy on Wednesday, the government set out plans to generate 95%
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By Michelle Toh, CNN Business JD.com’s billionaire founder is stepping down as CEO, in the latest leadership reshuffle at a major Chinese tech company. The Chinese tech giant announced Thursday that Richard Liu would pass the baton to Lei Xu, JD.com’s current president, effective immediately. Liu, who owns a controlling stake with about 77% of
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By Rob Frehse and Brian Vitagliano, CNN Alex Jones was deposed over two days this week in the defamation suit brought against him by families of victims of the Sandy Hook shooting, according to a court filing from two attorneys representing Jones. The deposition, which occurred Tuesday and Wednesday, came less than a week after
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BOONE COUNTY, Mo. (KMIZ) On Tuesday, voters in Boone County and Columbia passed a Proposition 1 Use Tax on the ballot which will add a sales tax on out-of-state vendors for online purchases. Boone County’s use tax will be 1.75% and Columbia’s be will 2%. This is the exact same as what residents already pay
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By Oliver Darcy, CNN Business NBC News journalists are troubled by and have expressed dismay to network executives about MSNBC’s intention to hire White House press secretary Jen Psaki when she exits the Biden administration, people familiar with the matter told CNN. Noah Oppenheim, the NBC News president, even held an impromptu phone call Friday
Continue Reading By Oliver Darcy, CNN Business NBC News journalists are troubled by and have expressed dismay to network executives about MSNBC’s intention to hire White House press secretary Jen Psaki when she exits the Biden administration, people familiar with the matter told CNN. Noah Oppenheim, the NBC News president, even held an impromptu phone call Friday
Continue Reading By Jon Sarlin, CNN Business Sky Mavis, makers of the crypto “play-to-earn” game “Axie Infinity,” announced on Wednesday it had raised a $150 million investment. The news comes on the heels of recent and widely-publicized hack of the company in which around $625 million in assets were stolen. The company says the additional money will
Continue Reading By Richard Quest Ever since governments across the globe started slapping sanctions on Russia over its invasion of Ukraine, cryptocurrencies have been under scrutiny. The concern is that Russian banks and individuals who have had their assets frozen could potentially use the digital money to evade sanctions. The US and European Union rely heavily on
Continue Reading By Richard Quest Ever since governments across the globe started slapping sanctions on Russia over its invasion of Ukraine, cryptocurrencies have been under scrutiny. The concern is that Russian banks and individuals who have had their assets frozen could potentially use the digital money to evade sanctions. The US and European Union rely heavily on
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