Money

By Anna Bahney, CNN Business As both home prices and mortgage rates rise, buying a home is increasingly unaffordable for a growing number of Americans. Home prices in the first quarter were up by at least 10% from a year ago in two-thirds of the counties tracked in a new report from real estate data

By Brian Stelter, CNN Business Discovery chief executive David Zaslav on Thursday announced the leadership team for Warner Bros. Discovery, the media conglomerate that will be formed within days when Discovery’s acquisition of WarnerMedia is completed. A raft of WarnerMedia executives have announced their exits in recent days, including CEO Jason Kilar. But some Warner

By Alicia Wallace, CNN Business The war in Ukraine has thrown the global economy into chaos — and the worst is yet to come, experts say. The conflict has disrupted logistics, business operations and trade pipelines across the world: sea, land and air freight are taking roundabout routes to avoid no-fly zones and hazards of

By Chris Isidore, CNN Business Sanctions put in place in response to Russia’s invasion of Ukraine have caused the nation’s air carriers to lose 79 of their commercial jets, nearly 10% of their combined fleets. The sanctions by multiple countries require the international aircraft leasing companies that own the jets to have repossessed them by

By Nathaniel Meyersohn, CNN Business Walmart is raising pay for long-haul truck drivers, a taxing job that is increasingly difficult for companies to fill. Walmart, one of the few retail chains that runs its own trucking fleet, said it’s raising the average starting salary for first-year drivers from around $88,000 to a range of $95,000

By Anna Bahney, CNN Business As if home prices in the US weren’t high enough, now they’re getting even more expensive. Stubbornly low numbers of homes for sale continue to push prices higher and mortgage rates are rising faster than they have in decades. That has put the squeeze on home buyers and the real

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

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.

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