Opinion by Gad Levanon for CNN Business Perspectives Over the past 12 months, US consumer prices rose by 7.5%, the highest rate in nearly 40 years. Worse, inflation is showing no signs of slowing. The Federal Reserve typically fights inflation by raising interest rates, which slows the economy by reducing the demand for goods and
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By Anna Bahney, CNN Business Mortgage rates increased again, rising to a level not seen since before the pandemic. The 30-year fixed-rate mortgage averaged 3.69% in the week ending February 10, up from 3.55% the week before, according to Freddie Mac. It’s the highest since January 2020. “The normalization of the economy continues as mortgage
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By Anneken Tappe, CNN Business New year, same old high inflation. A key measure of inflation climbed to a near-40-year high last month. Economists are hopeful that America will reach the peak of the pandemic-era price increases in the early months of 2022. Here’s to hoping. The consumer price index rose 7.5% in the 12
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By Julia Horowitz, CNN Business Liz Ann Sonders, the chief investment strategist at Charles Schwab, thinks Wall Street is missing the point on inflation. US inflation accelerated to 7.5% in January, the highest level in nearly 40 years, according to Labor Department data published Thursday. Sonders thinks the news could trigger another round of Wall
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By Diksha Madhok and Sophia Saifi, CNN Business South Korean automaker Hyundai faced controversy this week in India, sparking diplomatic tensions between Seoul and Delhi. India’s Ministry of External Affairs said Tuesday that it summoned the Korean ambassador to express “strong displeasure” over what the agency called an “unacceptable social media post” made by one
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By Matt Egan, CNN Business The Federal Reserve has expressed confidence inflation will get under control soon. Business leaders are not so sure. Nearly 75% of CEOs say upcoming interest rates hikes are unlikely to curb inflation as quickly as the Fed would like because supply constraints and wage hikes will persist, according to a
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By Rhea Mogul, Manveena Suri and Swati Gupta, CNN A college student has become a symbol of resistance in India’s Karnataka state, where religious tensions are rising over the right to wear religious clothing to school. Muskan Khan was attempting to hand in a college assignment in the city of Mandya when she was accosted
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By Oliver Darcy, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. It appears the right-wing media universe supports the “occupy” movement after all. For weeks, Fox, talk-radio, podcasters, and sites like Breitbart have fawned over the Canadian truckers who have crippled
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ASHLAND, Mo. (KMIZ) Amazon is planning to open a distribution center in Ashland. We’ve learned the company will open it at the cartwright center near the Columbia airport. Ashland Mayor Richard Sullivan says a building will be modified and expanded to allow Amazon to open there.
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Nunnelly says there are many things that come with the business that people don’t think about.
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By Peter Valdes-Dapena, CNN Business If you’re tired of getting random calls from companies claiming to be from “dealer services” and offering you an extended warranty on your car, the Federal Trade Commission is taking aim at some companies accused of making those calls. The FTC has filed suit against American Vehicle Protection Corp. of
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It’s Super Bowl week and last year, over 23 million Americans wagered a record $4.3 billion on the Super Bowl, but none of that happened in the state of Missouri.
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By Sara O’Brien, CNN Business Uber’s business is showing signs that it’s moving past the pandemic slowdown. The company reported Wednesday that its revenue grew 83% year-over-year to $5.8 billion in the final three months of 2021, as people increasingly turned to its ride-hail platform to get around and ordered food through its delivery service.
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By Sonia Moghe, CNN Former Alaska Governor Sarah Palin took the witness stand Wednesday in her defamation trial against the New York Times. Palin testified for about 15 minutes before court ended for the day. She sued the New York Times and former editorial page editor James Bennet in 2017 over an editorial they published
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By Frank Pallotta, CNN Business Disney+ regained some of its magic on Wednesday with subscriber totals that exceeded Wall Street’s expectations. The streaming service now has 129.8 million subscribers, a gain of nearly 12 million in the company’s fiscal first quarter. Those results beat expectations and were a rebound for the media company after a
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By Matt Egan, CNN Business Oil prices could soar to $120 a barrel if Russia’s crude exports are derailed by tensions with Ukraine, according to projections from JPMorgan. The forecast underscores how a potential invasion of Ukraine would cause wide-ranging ripple effects that would be felt by inflation-weary consumers around the world. “Any disruptions to
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By Brian Fung, CNN Microsoft is trying to persuade regulators to approve its $68.7 billion acquisition of Activision Blizzard with a series of new app store commitments that it says will put the company “on the right side of history” as policymakers worldwide debate new laws to force competition open in digital marketplaces. The 11-point
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By Oliver Darcy, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. The traffic to the cancellation page for Spotify Premium has jumped in recent weeks as the audio streaming company faces a wave of backlash over its support for podcaster Joe
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By Paul R. La Monica, CNN Business The priciest Super Bowl commercials will cost a record $7 million this year, according to NBC. To put that into terms many of the big game’s advertisers will understand, that’s about 160 bitcoin or 2,200 ether. Cryptocurrencies will be taking center stage during the ad breaks of Super
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By Jackie Wattles, CNN Business Up to 40 of SpaceX’s Starlink satellites are expected to fall out of orbit thanks to some inopportune timing: The company launched the satellites directly into a solar storm. A batch of 49 Starlink internet satellites were on SpaceX’s latest launch on February 3, and now the company is expecting
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