Money

CNN By Nathaniel Meyersohn and Anna Bahney, CNN New York (CNN) — The home insurance market is crumbling in New Orleans, leaving Alfredo Herrera with few options for coverage — and skyrocketing insurance premiums. Herrera, 35, works in finance for a local bank. He bought his 900-square-foot home in New Orleans’ Mid-City neighborhood in 2020

By Elisabeth Buchwald, CNN New York (CNN) — The Federal Reserve has been keen on paying attention to investors’ expectations on interest rates. But the Fed is prepared to ignore Wall Street’s hope for a rate cut in June if it feels the economy isn’t ready yet. That’s the message Fed Chair Jerome Powell delivered

By Eva Rothenberg, CNN New York (CNN) — A federal judge on Thursday ordered Sam Bankman-Fried to repay more than $11 billion as part of his sentence for defrauding customers and investors in his failed crypto exchange FTX. Experts say this amount will likely financially incapacitate him for the rest of his life. “This forfeiture

By Elisabeth Buchwald, CNN New York (CNN) — The latest US inflation report showed that rising prices continue to weigh on American consumers. The Federal Reserve’s preferred inflation gauge, the Personal Consumption Expenditures price index, was up 2.5% for the 12 months that ended in February, a faster pace than January’s 2.4% rise in prices.

By Radina Gigova, Anna Chernova and Olesya Dmitracova, CNN London (CNN) — Six journalists working for independent media outlets in Russia were arrested in a span of just a few hours this week on the eve of the anniversary of American reporter Evan Gershkovich’s detention in the city of Yekaterinburg. The journalists include Antonina Favorskaya,

By Oliver Darcy, CNN New York (CNN) — Editor’s Note: A version of this article first appeared in the “Reliable Sources” newsletter. Sign up for the daily digest chronicling the evolving media landscape here. Emma Tucker is hopeful that by next year Evan Gershkovich will be free. The Wall Street Journal boss, who spoke with me by phone

By Peter Valdes-Dapena, CNN New York (CNN) — It can be awkward to take a phone call while you’re driving and your family is in the car with you. If you’re listening to music it turns off and everyone has to stop and listen to whatever someone on the phone wants to tell you. Infiniti,

By Nathaniel Meyersohn and Anna Bahney, CNN New York (CNN) — The home insurance market is crumbling in New Orleans, leaving Alfredo Herrera with few options for coverage — and skyrocketing insurance premiums. Herrera, 35, works in finance for a local bank. He bought his 900-square-foot home in New Orleans’ Mid-City neighborhood in 2020 for

By Laura He, CNN Hong Kong (CNN) — Troubled housing giant Country Garden announced late Thursday that it would delay the publication of its annual results, in the latest sign of the turmoil still coursing through China’s huge property sector. In a filing provided to the Hong Kong stock exchange, the company said it needed

By Samantha Delouya, CNN (CNN) — Kia has recalled 427,407 of its Telluride SUVs because they can roll away while in park. All Telluride vehicles made between 2020 and 2023 and certain 2024 models are affected by the recall, according to a report this week by the National Highway Traffic Safety Administration. Kia did not

By Matt Egan and Ramishah Maruf, CNN New York (CNN) — Undergraduate applications to Harvard University dipped to four-year lows for the class of 2028, according to new figures that offer early clues into how the Ivy League school’s reputation has held up during a period of historic turmoil. The application figures are also the

By Allison Morrow and Lauren del Valle, CNN New York (CNN) — Sam Bankman-Fried on Thursday was sentenced to 25 years in prison, a year and a half after his crypto startup, FTX, imploded practically overnight and set off a massive a federal investigation. The outcome was not a huge surprise — a prison sentence

By Chris Isidore, CNN New York (CNN) — Demolition workers could open a channel for ships to move in and out of the Port of Baltimore as soon as one month after required equipment arrives on scene, according to an expert in the field familiar with ongoing discussions. The expert, who spoke to CNN on

By Nathaniel Meyersohn, CNN New York (CNN) — In its largest acquisition ever, Home Depot is expanding its business targeting professional contractors and builders as the home fixer-upper market stalls. Home Depot announced Thursday that it is spending $18.3 billion to buy SRS Distribution, a huge building-projects supplier that counts professional roofers, landscapers and pool

By Nicole Goodkind, CNN (CNN) — The United States is on the brink of a retirement crisis. By the end of the decade, about 21% of the country’s population will be 65 or older, up from 15% in 2016, according to forecasts by the Census Bureau. Most non-retired adults have some type of retirement savings,

By Catherine Thorbecke and Nathaniel Meyersohn, CNN New York (CNN) — The massive cargo ship crash into Baltimore’s Francis Scott Key Bridge will likely lead to billions of dollars in liability claims. Marine insurance companies will be on the hook for much of the costs. With various owners and companies involved – and with some

By Nicole Goodkind, CNN New York (CNN) — US markets ended Thursday little changed, but all major indexes managed to mark their fifth consecutive winning month. The S&P 500 was up 0.1% on Thursday, reaching a new record high. The Dow gained 47 points, or 0.1% also hitting a new high. The tech-heavy Nasdaq closed

By Clare Duffy, CNN New York (CNN) — YouTube says hundreds of thousands of creators are now earning a paycheck from posting short-form videos on the platform, as it ramps up its race to compete with rivals like TikTok and Instagram. It hasn’t been cheap: the Google-owned platform is shelling out tens of thousands of

By John Towfighi, CNN (CNN) — Cocoa prices are surging so high, the Easter Bunny might want to hoard its chocolate. Consumers hunting for Easter eggs and chocolate bunnies this year can expect sticker shock similar to Valentine’s Day. Retail chocolate prices rose 11.6% across all of 2023, according to Circana data shared with CNN,