Money

By Anna Bahney, CNN Washington, DC (CNN) — Mortgage rates climbed for the fourth week in a row, inching closer to 7%. The 30-year fixed-rate mortgage averaged 6.94% in the week ending February 29, up from 6.90% the previous week, according to data from Freddie Mac released Thursday. A year ago, the average 30-year fixed-rate

By Elisabeth Buchwald, CNN New York (CNN) — It’s no secret that commercial real estate (CRE) has become a source of stress for banks. Had they known there was going to be a pandemic that would completely disrupt where people work, they likely would have given more pause to lending money to clients who lease

By Diksha Madhok and Hanna Ziady, CNN New Delhi/London (CNN) — India has reported surprisingly robust economic growth, ending 2023 on a high note and providing a boost to Prime Minister Narendra Modi just weeks before an election that could give him a third term in office. Gross domestic product (GDP) in the world’s fastest

By Alicia Wallace, CNN New York (CNN) — Rising prices continued to loom large in January, but new data released Thursday showed that inflation is still on a downward — albeit bumpy — path toward the Federal Reserve’s 2% target. The Personal Consumption Expenditures price index was up 2.4% for the 12 months that ended

By Jordan Valinsky, CNN New York (CNN) — Oprah Winfrey is leaving the board of WeightWatchers, ending a nearly decade-long stint as a director of the beleaguered company that has faced sudden competition from Ozempic. Winfrey notified the company of her decision earlier this week, telling them she won’t be standing for re-election at its annual

By Jordan Valinsky, CNN New York (CNN) — Panera’s recent attempt to boost sales with a bigger, more high-end menu isn’t working. So it’s getting back to basics, acknowledging that customers in a world of high inflation are looking for less-expensive food. Although the company doubled down on dinner offerings as recently as a few

By Jeanne Sahadi, CNN New York (CNN) — If you have a job, you’re likely not working for free. In fact, when you were hired, you agreed to work for a given amount of pay over the course of a year, which you assumed meant 365 days. Except this year — and every fourth year,

CNN By Jeanne Sahadi, CNN New York (CNN) — If you have a job, you’re likely not working for free. In fact, when you were hired, you agreed to work for a given amount of pay over the course of a year, which you assumed meant 365 days. Except this year — and every fourth

By Gregory Wallace, Colin McCullough, Evan Perez and Chris Isidore, CNN Washington DC (CNN) — Boeing faces yet another federal probe over its 737 Max door plug blowout, this one by the Justice Department, an investigation that could expose it to criminal liability. Justice is reviewing whether deficiencies found in the wake the door plug

By Hanna Ziady, CNN London (CNN) — The world’s largest brewer may have lost as much as $1.4 billion in sales because of the backlash to its brief partnership with a transgender influencer to promote Bud Light beer. Anheuser-Busch InBev (BUD) reported record revenues for 2023 Thursday but said its “full growth potential was constrained”

By Juliana Liu, CNN (CNN) — Gemini Trust, a cryptocurrency exchange founded by Cameron and Tyler Winklevoss, will return at least $1.1 billion to customers of its now shuttered lending program, following a settlement with a New York regulator. Gemini will also pay a $37 million fine to the regulator “for significant failures that threatened

By Anna Cooban, CNN London (CNN) — European consumer rights groups have accused Meta, the owner of Facebook and Instagram, of carrying out a “massive” and “illegal” operation of collecting data from hundreds of millions of users in the region. The European Consumer Organisation (BEUC), an umbrella body for 45 consumer groups, said eight of

By Oliver Darcy, CNN New York (CNN) — The White House is formally calling on Fox News to walk back its coverage of bribery and corruption allegations against President Joe Biden. In a letter sent to the right-wing network’s top brass this week, which has not been previously reported, Ian Sams, a top White House spokesperson, noted that the ex-FBI informant who

By Chris Isidore and Vanessa Yurkevich, CNN New York (CNN) — Anheuser-Busch and the Teamsters union have reached a tentative contract agreement that averts a strike of 5,000 union members who had been prepared to walk out at midnight Thursday. The Teamsters say the deal will grant members an immediate $4 an hour raise and

By Clare Duffy, CNN New York (CNN) — Electronic Arts plans to lay off 5% of its employees, making it the latest company in the gaming and tech space to reduce its workforce. EA, the maker of lucrative game franchises such as the Madden NFL games and Apex Legends, said the layoffs are part of

By Peter Valdes-Dapena, CNN (CNN) — Stellantis, the parent company of Jeep, Dodge and Chrysler vehicles, is recalling 338,000 Jeep Grand Cherokees in the United States because parts of the front suspension could become loose. If this happens, the SUV’s front wheel could fall outward, resulting in a loss of control, according to documents filed

By Ramishah Maruf, CNN New York (CNN) — Eye ointments sold at CVS and Walmart may not actually be sterile, a recall posted by the US Food and Drug Administration warned. On Feb. 26, the FDA posted a voluntary recall from Brassica Pharma, which is recalling several eye ointments with expiration dates ranging from February

By John Towfighi, CNN (CNN) — Don’t call Wendy’s new pricing plan “surge pricing.” In a blog post on Tuesday, the fast-food chain explained that its test of new menus with prices that change throughout the day is not meant to cost more for customers. “This was misconstrued in some media reports as an intent

By Elisabeth Buchwald, CNN New York (CNN) — Last month, as bitcoin approached $45,000, JPMorgan Chase CEO Jamie Dimon compared the cryptocurrency to a Pet Rock and said people need to “stop talking about this s—.” Now, bitcoin investors are laughing all the way to the bank. The cryptocurrency is up a whopping 20% in

By Sean Lyngaas, CNN Washington (CNN) — A week after a cyberattack disrupted insurance processing at pharmacies across the US, health care professionals from Maryland to New York tell CNN that the hack continues to upend their businesses, potentially cutting into revenue. Raeya Disney, a psychotherapist who treats trauma victims in Maryland, said she worries