Money

By Parija Kavilanz, CNN More than 3.2 million Calico Critters toys that were sold in a set with a baby bottle and pacifier accessories are being recalled because they pose a serious choking hazard for small children, the Consumer Product Safety Commission said Thursday. Epoch Everlasting Play, based in Pine Brook, New Jersey, makes the

By Nathaniel Meyersohn and Matt Egan, CNN Visa, Mastercard and Discover announced they will pause a plan to implement a new merchant category code for the nation’s gun retailers after political pressure from Republicans. The measure that was designed help flag potential mass shooters and gun traffickers. In the wake of mass shootings, some financial

By Nicole Goodkind, CNN Fear overtook Wall Street Thursday after SVB Financial Group, a bank that lends primarily to tech companies, told investors it had to sell $1.75 billion in shares at a loss in order to cover rapidly declining customer deposits. That triggered losses across the banking sector and concern that the Federal Reserve’s

By Anna Bahney, CNN Mortgage rates edged further toward 7%, rising for the fifth consecutive week, as the Federal Reserve suggests rate increases will continue amid stubborn inflation. The 30-year fixed-rate mortgage averaged 6.73% in the week ending March 9, up from 6.65% the week before, according to data from Freddie Mac released Thursday. A

By Jordan Valinsky, CNN Business General Motors said in January it would save $2 billion without planning any layoffs. But on Thursday it said it was looking for workers to leave voluntarily. In a regulatory filing, the automaker said it was looking to save costs through attrition and a voluntary separation program in which eligible

By Nicole Goodkind, CNN Reddit investors have been the butt of many jokes over the last few years, but could these much-maligned meme traders have the last laugh? A surprising new survey finds that 58% of institutional investors — the professionals who trade on behalf of banks and pension funds, the so-called “smart money” —

By Hanna Ziady, CNN Credit Suisse can’t catch a break. In the latest piece of troubling news, the beleaguered Swiss bank has delayed the publication of its 2022 annual report following a “late call” from the US Securities and Exchange Commission on Wednesday evening. The SEC got in touch over revisions the bank had previously

By David Goldman, CNN JPMorgan Chase sued former executive James Edward “Jes” Staley, who was largely responsible for JPMorgan’s 15-year financial relationship with disgraced financier Jeffrey Epstein. The US Virgin Islands government filed a lawsuit against JPMorgan in December, alleging the bank “had a more than close-up view of Epstein’s sex-trafficking” and “ignored obvious red