By Nathaniel Meyersohn, CNN Business In August of 2001, more than 100 people gathered on the East Side of Buffalo, New York. The setting, an empty lot in a nearly all-Black neighborhood of this upstate New York city, drew prominent visitors. They included Hillary Clinton and Chuck Schumer, the two US senators from the state
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By Nathaniel Meyersohn, CNN Business In August of 2001, more than 100 people gathered on the East Side of Buffalo, New York. The setting, an empty lot in a nearly all-Black neighborhood of this upstate New York city, drew prominent visitors. They included Hillary Clinton and Chuck Schumer, the two US senators from the state
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By Jeanne Sahadi, CNN Business When it comes to fraying nerves, this spring is really outperforming. Stocks are now in bear market territory. Interest rates — and Covid cases — are climbing. Inflation remains high. Geopolitical unrest continues. And all of it combined is sparking recession fears. No one’s finances are immune. But there are
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By Anna Bahney, CNN Business Rents in the US climbed to a new record high again in April, and they are expected to keep rising. The national median rent was $1,827 a month in April, up 16.7% from a year ago, according to a report from Realtor.com. Rent has been steadily increasing since early last
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By Julia Horowitz, CNN Business Shares of retailers were pummeled on Wednesday as investors dug through the latest earnings results from Target and Walmart, which were flush with signs that the economy is entering a period of deep uncertainty. What’s happening: Inflation is already causing consumers to pull back spending on some items as they
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By Peter Valdes-Dapena, CNN Business James Bond, the fictional British secret agent, has driven lots of different cars in the more than two dozen films in the series. They’ve included everything from BMWs and Bentleys to Chevrolets and Fords. But one car in particular, the 1964 Aston Martin DB5, is known as the “the Bond
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By Anna Bahney, CNN Business Home sales fell for the third consecutive month in April as rising mortgage rates and affordability challenges pushed many would-be home buyers out of the market. Still, prices continued to climb, reaching an all-time high. The median price of a home in April was a record $391,200, rising 14.8% from
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By Anna Bahney, CNN Business Mortgage rates fell slightly last week, but purchasing a home still remains difficult for many prospective buyers. The 30-year, fixed-rate mortgage averaged 5.25% in the week ending May 19, down from 5.30% the week before, according to Freddie Mac. It is still well above the 3% average from this time
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By Paul R. La Monica, CNN Business The 2022 stock market meltdown may not be over just yet. Stocks fell again Thursday, following Wednesday’s massive sell-off. The Dow ended the day down more than 235 points, or 0.8%, recovering only slightly from a drop of nearly 475 points earlier in the session. The blue chips
Continue Reading By Julia Horowitz, CNN Business Shares of retailers were pummeled on Wednesday as investors dug through the latest earnings results from Target and Walmart, which were flush with signs that the economy is entering a period of deep uncertainty. What’s happening: Inflation is already causing consumers to pull back spending on some items as they
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By Jordan Valinsky, CNN Business Taco Bell’s highly anticipated Mexican Pizza finally returns to menus Thursday following a roughly two-year hiatus. The beloved menu item was eliminated in November 2020 as part of a broader culling of Taco Bell’s menu during the height of the pandemic. That helped Taco Bell shed complexities and costs. But
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By Chris Isidore, CNN Business How do you regulate a man worth more than $200 billion who thinks he knows better than everyone else? The simple answer is: You don’t. Elon Musk has once again proven he’ll do things his own way, announcing Friday that his $44 billion deal to buy Twitter is on hold.
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By Laura He, CNN Business Asian markets mostly closed lower on Thursday and European indexes slid in early trade following a rough day on Wall Street. Hong Kong’s Hang Seng tumbled 2.5%, leading losses in the region. Japan’s Nikkei also dropped nearly 2%. China’s Shanghai Composite Index fell as much as 1.4% before reversing in
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By Esha Mitra, CNN India’s top court on Wednesday granted the release of a man convicted of killing former Indian Prime Minister Rajiv Gandhi, 31 years after his imprisonment. The Supreme Court invoked extraordinary powers to release A. G. Perarivalan, his attorney told CNN. Perarivalan was arrested a few weeks after Gandhi was assassinated in
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By Jackie Wattles, CNN Business Boeing is the world’s largest aerospace company, a primary US defense contractor, and a titan of a global aviation duopoly. A few years ago, the idea that it would dominate commercial space was a given, and companies like SpaceX, a relatively young business relying on a strategy of moving fast
Continue Reading By Clare Duffy, CNN Business Elon Musk has faced questions from the US Securities and Exchange Commission about how and when he disclosed his large stake in Twitter last month, prior to agreeing to buy the social media company. On April 4, the same day that Musk initially revealed he had bought up a more
Continue Reading By Paul R. La Monica, CNN Business The 2022 stock market meltdown may not be over just yet. Stocks fell again Thursday, following Wednesday’s massive sell-off. The Dow ended the day down more than 235 points, or 0.8%, recovering only slightly from a drop of nearly 475 points earlier in the session. The blue chips
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By Matt McFarland, CNN Business The S&P 500 index devoted to highlighting companies excelling at ESG, which stands for environmental, social and governance issues, has removed Tesla from the index, it explained in a blog post published on Tuesday. The move comes in the wake of allegations of racial discrimination and poor working conditions at
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By Brian Fung and Ariane de Vogue, CNN The Supreme Court should allow a sweeping Texas law to remain in effect that restricts the ability of Facebook, Twitter and YouTube to moderate their platforms, according to the state’s attorney general. In a filing to the Court on Wednesday, Texas argued that its law, HB 20,
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By Brian Fung, CNN Business New York Attorney General Letitia James is launching an investigation into the social media platforms allegedly used by the Buffalo shooting suspect. The probe, disclosed Wednesday by James’ office, focuses on the livestreaming platform Twitch, the messaging service Discord and the websites 4chan and 8chan (now known as 8kun). Other
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