Money Archives

Talking taxes: Recovery rebate credit

February 16, 2022 3:18 PM ABC 17 News Team

Starting off with the recovery rebate credit.

Among the many appeals of the massively successful Wordle game is that it has just one solution per day. Every player in the world is trying to guess the same five-letter word.

Why your Wordle answers might now be different than your friends’

February 16, 2022 3:18 PM CNN

By David Goldman, CNN Business Among the many appeals of the massively successful Wordle game is that it has just one solution per day. Every player in the world is trying to guess the same five-letter word. Well, it had only one until Tuesday. The New York Times, which bought Wordle two weeks ago, eliminated

Hollywood actor’s Ponzi scheme, explained: Why investors keep falling for scams

February 16, 2022 2:22 PM CNN Newsource

By Allison Morrow, CNN Business The tale of Zachary Horwitz made headlines this week after he was sentenced to 20 years for bilking investors out of $650 million by peddling bogus licensing deals with HBO and Netflix. Ironically, it is just the kind of juicy swindler story you might binge watch on those platforms: Horwitz,

A pedestrian moves past a monitor showing Japan's Nikkei 225 index

US stocks fall again as Russian invasion threat continues

February 16, 2022 1:39 PM CNN

By Rishi Iyengar and Michelle Toh, CNN Business US stocks slid Friday as investors continued to track geopolitical developments in Eastern Europe following Thursday’s steep selloff. The Dow closed down nearly 233 points, or 0.7%. The S&P 500 and Nasdaq Composite ended the day with losses of 0.7% and 1.2%. All three indexes finished the

A pedestrian passes the New York Stock Exchange

Larry Summers: The Fed is ‘well behind’ the curve on inflation and should stop stimulus ASAP

February 16, 2022 1:28 PM CNN Newsource

By Matt Egan, CNN Business Economist Larry Summers called on the Federal Reserve Wednesday to take immediate action to catch up to inflation. “There are lots of reasons to suspect the Fed is well behind the curve,” Summers, a former senior official in the Clinton and Obama administrations, said during a virtual event. Summers, who

Gasoline prices are displayed at a gas station on February 8 in Los Angeles

California gas prices just hit a record high. $5 gas could come soon

February 16, 2022 1:16 PM CNN Newsource

By Chris Isidore, CNN Business Gas in California hit a record high of $4.72 a gallon on average on Wednesday — and experts say a whopping $5 a gallon will likely be the norm there in a matter of months, if not sooner. This isn’t just an issue for West Coasters: Some of the factors

How we can solve the nation’s affordable housing crisis

February 16, 2022 12:09 PM CNN Newsource

Opinion by Janneke Ratcliffe for CNN Business Perspectives Millions of Americans are losing out on the chance to reap the benefits of homeownership because of a supply shortage. This shortage is most acute among affordable homes, where low- and moderate-income renters, younger first-time homebuyers, and people of color are losing faith that they will be

Motorists wait for a signal to change as pump jacks extract oil at the Inglewood Oil Field Thursday

Russia-Ukraine crisis sends oil on roller coaster

February 16, 2022 12:08 PM CNN Newsource

By Matt Egan, CNN Business Oil prices briefly touched $95 a barrel on Wednesday before backing away as investors try to make sense of the latest developments in the Russia-Ukraine crisis. US crude jumped as much as 3.2% to an intraday peak of $95.01 a barrel as US and NATO officials said they saw no

A man is silhouetted as he talks on his mobile phone while standing in front of the Google India office building in Hyderabad on January 28.

Google plans to change Android app tracking in a bid to improve user privacy

February 16, 2022 11:29 AM CNN Newsource

By Clare Duffy, CNN Business Google plans to develop new privacy measures that remove the ability to track users across apps on Android devices, potentially rattling digital advertising-based businesses like Facebook that have already been disrupted by app tracking changes introduced by Apple last year. Google said Wednesday that it is launching a multi-year effort

AMC may sell you popcorn outside of movie theaters

February 16, 2022 11:12 AM CNN Newsource

By Paul R. La Monica, CNN Business AMC Entertainment, the theater chain and darling of the meme stock crowd, is hoping to profit as more people stay home to watch movies on streaming networks like Netflix and Disney+. How? In the immortal words of NFL Hall of Famer Terrell Owens: Getcha popcorn ready. AMC announced

A watchtower at a high-security facility near what is believed to be a re-education camp on the outskirts of Hotan

Development bank accused of lending millions to companies allegedly linked to forced labor in Xinjiang

February 16, 2022 10:59 AM CNN Newsource

By Rebecca Wright, CNN The International Finance Corporation, one of the world’s leading development banks, has for decades touted its success in funding companies it says can help end extreme poverty in developing countries. But new research suggests the organization, which operates under the World Bank Group, has been providing hundreds of millions of dollars

Uber has announced an option that lets you see a breakdown of how many drivers left you a one-star rating

Uber now lets you see how many one-star ratings you received from drivers

February 16, 2022 10:56 AM CNN Newsource

By Jennifer Korn Confused how you ended up with a low rating on Uber? A new feature will offer a bit more insight. Uber on Wednesday announced an option that lets you see a breakdown of how many drivers left you a one-star rating, a five-star rating and other ratings in between. Previously users of

Among Americans with jobs that can be done remotely

Employers take note: Most remote workers don’t want to go back to the office

February 16, 2022 10:18 AM CNN Newsource

By Jeanne Sahadi, CNN Business Employers, take note: If your staff has been working from home most or all of the time during the past two years, chances are a majority may want to continue doing so after the threat of Covid-19 fades. Among Americans with jobs that can be done remotely, 59% say they

Mercedes reveals 677-horsepower electric performance sedan

February 16, 2022 10:04 AM CNN Newsource

By Peter Valdes-Dapena, CNN Business Mercedes’ AMG performance division is most famous for making hand-built gasoline engines, but times are changing and electric motors are the new thing. Mercedes just unveiled its latest AMG model, the Mercedes-AMG EQE, a fully electric high-perfomance mid-size sedan. With two high-output electric motors engineered specifically for AMG — one

Mercedes reveals 677-horsepower electric performance sedan

February 16, 2022 10:04 AM CNN

By Peter Valdes-Dapena, CNN Business Mercedes’ AMG performance division is most famous for making hand-built gasoline engines, but times are changing and electric motors are the new thing. Mercedes just unveiled its latest AMG model, the Mercedes-AMG EQE, a fully electric high-perfomance mid-size sedan. With two high-output electric motors engineered specifically for AMG — one

Pink Elephant mocktail or alcohol-free cocktail made with guava juice at Alley and Vine

Dry January was more popular than ever. That’s good news for the alcohol industry

February 16, 2022 9:57 AM CNN Newsource

By Jordan Valinsky, CNN Business More people than ever participated in Dry January this year, but they didn’t totally ditch the bottle. According to surveys from CGA, a food and drink research firm, 35% of legal-aged US adults skipped alcohol for the entire month — a trend that’s growing in popularity as drinkers look to

A woman shops for shoes at a sporting goods store in Alhambra

Prices may be rising, but Americans shopped more than expected in January

February 16, 2022 9:16 AM CNN Newsource

By Anneken Tappe and Nathaniel Meyersohn, CNN Business Inflation is rampant in the pandemic economy, but that didn’t keep Americans from opening up their wallets last month. US retail sales rose by 3.8% in January from the month prior, adjusted for seasonal swings — more than the 2% increase economists had predicted. That puts the

Two US senators are pushing to curb the potentially harmful impacts of social media on young people with a new bill targeting tech platforms' handling of content surrounding issues such as eating disorders

Senators launch bipartisan bill to regulate kids’ use of social media

February 16, 2022 9:10 AM CNN Newsource

By Brian Fung, CNN Two US senators are pushing to curb the potentially harmful impacts of social media on young people with a new bill targeting tech platforms’ handling of content surrounding issues such as eating disorders, substance abuse and suicide. The new bipartisan legislation, known as the Kids Online Safety Act, was introduced Wednesday

California gas prices just hit a record high. $5 gas could come soon

February 16, 2022 7:51 AM CNN

By Chris Isidore, CNN Business Gas in California hit a record high of $4.72 a gallon on average on Wednesday — and experts say a whopping $5 a gallon will likely be the norm there in a matter of months, if not sooner. This isn’t just an issue for West Coasters: Some of the factors

Economists and investors have been closely watching climbing producer prices and wages for clues on where inflation is heading. They're rising

Wall Street’s metaverse dreams take a hit

February 16, 2022 7:17 AM CNN Newsource

By Julia Horowitz, CNN Business Wall Street is convinced it’s discovered the future of Silicon Valley. But early bets on the “metaverse” are running into some turbulence. What’s the metaverse? It’s a virtual world in which people hang out, attend meetings and play games as avatars. It’s generating tons of buzz. But shares of video