Money

By Anna Bahney, CNN Washington, DC (CNN) — Mortgage rates climbed for the fifth consecutive week Thursday, following recent jobs and inflation reports that surged past forecasts and set expectations that decades-high interest rates could stay higher for longer. The persistently higher mortgage rates are putting added strain on today’s would-be homebuyers who are also

CNN Opinion by Kara Alaimo (CNN) — With social networks flooded with content about atrocities happening in Israel and Gaza, schools around the world are warning parents about what their children might be seeing on social media. Some are calling for parents to remove social media apps, including Instagram and TikTok, from children’s phones, so they don’t

By Brian Fung, CNN (CNN) — EU officials warned TikTok Thursday about “illegal content and disinformation” on its platform linked to the war between Hamas and Israel, calling for CEO Shou Zi Chew to respond within 24 hours. In a letter to Chew, European Commissioner Thierry Breton said failure to comply with European Union laws

By Danielle Wiener-Bronner, CNN New York (CNN) — Grocery price increases continued to moderate in September, with prices ticking up just 0.1% last month, according to seasonally adjusted data from the Bureau of Labor Statistics released on Thursday. In August, groceries had grown 0.2% pricier. In the year through September, not adjusted for seasonal swings,

By Allison Morrow, CNN New York (CNN) — Caroline Ellison testified Thursday in Sam Bankman-Fried’s federal fraud trial that in the final days of Alameda Research, she admitted wrongdoing to her employees in an all-hands meeting, telling them the decision to borrow funds from customers of their sister firm, FTX, was “Sam’s, I guess.” “I

By Alicia Wallace, CNN Minneapolis (CNN) — Inflation remained elevated in September as gas and rents kept prices high and heaped more pressure on consumers, according to new data released Thursday by the Bureau of Labor Statistics. However, the latest Consumer Price Index also showed that certain inflation gauges are the lowest they’ve been in

By Anna Cooban, CNN London (CNN) — Russia has reimposed some of the capital controls it introduced in the wake of its full-scale invasion of Ukraine in a new attempt to prop up the ruble as the cost of war weighs heavily on the economy. The ailing currency gained 3.4% Thursday to trade at 96

By Peter Valdes-Dapena, CNN Santa Monica, California (CNN) — It was a cloudy day in Los Angeles when I went out in search of a traffic jam, something that’s not hard to find there. I was looking for slow traffic because I wanted to try out a new technology from Mercedes-Benz that only works in

By Nathaniel Meyersohn, CNN New York (CNN) — Tesla has beaten back previous efforts by workers to unionize – but the United Auto Workers hopes a successful strike against Ford, General Motors and Stellantis could help it organize at Tesla. UAW membership has declined in recent decades, and the auto industry is moving to electric

By Tanushree Pandey and Michelle Toh New Delhi/Hong Kong (CNN) — An executive at Vivo, one of China’s top smartphone makers, has been arrested in India in connection with a money laundering probe, raising fears of a renewed crackdown on Chinese businesses in the country. Guangwen Kuang, the head of administration at Vivo India, was

By Alex Leeds Matthews and Rachel Wilson, CNN (CNN) — Target is closing nine stores in four metropolitan areas: the San Francisco Bay Area, Portland, Seattle, and New York. The big box retailer cited in its announcement organized retail crime and theft creating an “unsustainable business performance.” But Target is not alone, and it’s not just theft making it

By Hanna Ziady and Brian Fung, CNN London (CNN) — X says it has removed “hundreds of Hamas-affiliated accounts” and taken down thousands of posts since the attack on Israel by the Palestinian militant group, even as the European Commission formally opened an investigation into X after a previous warning about disinformation and illegal content

By Olesya Dmitracova, CNN London (CNN) — James “Jes” Staley, the former JPMorgan Chase executive who was CEO of Barclays for six years, has been banned from holding senior roles in the UK financial services industry for misleading regulators about his relationship with disgraced financier Jeffrey Epstein. The Financial Conduct Authority has decided to fine

By Bryan Mena and Samantha Delouya, CNN (CNN) — Anton Korinek, an economics professor at the University of Virginia, tells the students he advises nowadays that they should really begin to master a flourishing technology expected to transform the field of economics. That technology is generative artificial intelligence, or “genAI” for short. Economists already utilize

By Laura He, CNN Hong Kong (CNN) — Fears that Evergrande’s debt woes are spreading into the wider financial industry have sparked a run on a regional bank in northern China, multiple state media outlets have reported. Depositors lined up at the bank in Cangzhou, in Hebei province, to withdraw their money, according to photos

By Rob McLean and Liam Reilly, CNN (CNN) — The Alliance of Motion Picture and Television Producers said late Wednesday that negotiations with SAG-AFTRA — the union representing about 160,000 actors — have been suspended. “After meaningful conversations, it is clear that the gap between the AMPTP and SAG-AFTRA is too great, and conversations are

By Oliver Darcy, CNN (CNN) — Helmets. Flak jackets. Press identification. Those are some of the tools that journalists covering the Israel-Hamas war are using to shield themselves from the unforgiving dangers of an active battlefield. But the gear only goes so far. Inside the Gaza Strip, a narrow sliver of the world that even

By Chris Isidore, CNN (CNN) — The United Auto Workers union surprised Ford with a major escalation of its strike, ordering workers off the job at the company’s largest plant. Late Wednesday night, the union told 8,700 workers to strike at the Kentucky Truck Plant, which builds some of Ford’s most important vehicles, including the

By Danielle Wiener-Bronner, CNN New York (CNN) — First, it was Girl Scout cookies. Now, inflation is hitting Chipotle’s burritos and tacos. “For the first time in over a year, we will be taking a modest price increase to offset inflation,” Laurie Schalow, Chipotle’s chief corporate affairs officer, said in a statement sent to CNN.

By Clare Duffy, CNN New York (CNN) — Microsoft plans to contest a US Internal Revenue Service request for an additional $28.9 billion in back taxes for the years 2004 to 2013, the company said in a securities filing Wednesday. The demand is the result of a yearslong audit by the IRS into Microsoft’s past