By Anna Bahney, CNN Business Credit card interest rates have moved swiftly higher this year, significantly increasing the cost burden on those who carry a balance. Over the past two quarters the average annual percentage rate has grown from 15.91% to 17.13%, leaving the current rate just a tick under the all-time record high of
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By Anna Bahney, CNN Business The median price of single-family existing homes rose in nearly all — 99% — of the 183 markets tracked by the National Association of Realtors in the third quarter, with double-digit price increases seen in 78% of the markets. But the stratospheric surges in prices have slowed a bit from
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By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. MSNBC has a talent problem on its hands. Brian Williams told network management on Tuesday that he is passing on their offer of a new contract. He is ending a
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By Paul R. La Monica, CNN Business Bitcoin has rocketed to an all-time high of nearly $70,000. But investors are even more excited about ethereum, which is now the world’s second most valuable cryptocurency. Ethereum, or ether for short, is also trading at record levels. It’s now hovering around $4,850, having soared more than 560%
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By Jackie Wattles, CNN Business A SpaceX Crew Dragon capsule carrying four astronauts roared into outer space atop a Falcon 9 rocket on Wednesday, marking the kick off of SpaceX’s fifth crewed mission to orbit. The spacecraft, with three NASA astronauts and one European astronaut onboard, will spend all day Wednesday maneuvering closer to the
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By Jordan Valinsky, CNN Business Twitter has permanently suspended Newsmax White House correspondent Emerald Robinson for repeatedly posting blatant misinformation about Covid-19 vaccines. The ban comes about a week after she was briefly suspended for violating the company’s policy. Robinson’s account was “permanently suspended for repeated violations of our Covid-19 misinformation policy,” a Twitter spokesperson
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By Allison Morrow, CNN Business Confused about inflation? You’re not alone. Inflation is, paradoxically, both incredibly simple to understand and absurdly complicated. Let’s start with the simplest version: Inflation happens when prices broadly go up. That “broadly” is important: At any given time, the price of goods will fluctuate based on shifting tastes. Someone makes
Continue Reading By Jordan Valinsky, CNN Business Twitter has permanently suspended Newsmax White House correspondent Emerald Robinson for repeatedly posting blatant misinformation about Covid-19 vaccines. The ban comes about a week after she was briefly suspended for violating the company’s policy. Robinson’s account was “permanently suspended for repeated violations of our Covid-19 misinformation policy,” a Twitter spokesperson
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By Jordan Valinsky, CNN Business Mariah Carey, the queen of Christmas, is partnering with McDonald’s and giving her fans one of the best gifts of them all: free(-ish) food. McDonald’s is debuting the “Mariah Menu” next month, in which the fast food chain is giving away a different free menu item each day between December
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Opinion by Julie Wainwright for CNN Business Perspectives It’s a well-kept secret that fashion is one of the dirtiest industries out there, contributing up to 8% of the world’s total carbon footprint, more than all international flights and maritime shipping combined. It’s so under the radar that it’s nowhere to be found on the official
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By Paul R. La Monica, CNN Business Fund manager Cathie Wood has attracted a large group of loyal investors who watch her every move. But a brand new fund is explicitly betting against Wood and her strategy. The exchange-traded funds at Wood’s firm Ark, especially the Ark Innovation ETF, have outperformed the broader market over
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By Anneken Tappe, CNN Business There’s no end in sight for higher prices. US consumer price inflation surged higher again in October, the Bureau of Labor Statistics reported Wednesday. Over the past 12 months, prices climbed 6.2% — the biggest increase since November 1990. Stripping out food and energy prices, which tend to be more
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Opinion by Mark Wolfe for CNN Business Perspectives Last month, several senators called on the Biden administration to take action to lower energy costs. Specifically, they urged the administration to increase supply of natural gas and home heating oil by limiting natural gas exports and releasing inventory from the Strategic Petroleum Reserve (SPR). The senators
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By Julia Horowitz, CNN Business Rivian, the electric vehicle maker backed by Amazon and Ford, made its Wall Street debut on Wednesday, surrounded by mania that befits a market that appears to be defying gravity. What’s happening: The company priced its stock above the expected range at $78 apiece, allowing it to raise an estimated
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By Walé Azeez, CNN Business The biggest players in the automotive industry are refusing to back a commitment to sell only zero-emissions cars and vans by 2040, dealing a blow to hopes for major progress on the climate crisis at COP26. The UN climate summit in Glasgow, chaired by the United Kingdom, wanted governments, manufacturers,
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By Helen Regan and Cape Diamond, CNN American journalist Danny Fenster has been hit with new criminal charges in Myanmar that carry a maximum sentence of life in prison, his lawyer said. Fenster, a 37-year-old from Detroit, Michigan, has been detained in Myanmar for more than five months. He has been denied bail and held
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By Ariel Edwards-Levy and Jennifer Agiesta, CNN Roughly three-quarters of adults believe Facebook is making American society worse, a new CNN poll conducted by SSRS finds, with about half saying they know somebody who was persuaded to believe in a conspiracy theory because of the site’s content. Americans say, 76% to 11%, that Facebook makes
Continue Reading By Ariel Edwards-Levy and Jennifer Agiesta, CNN Roughly three-quarters of adults believe Facebook is making American society worse, a new CNN poll conducted by SSRS finds, with about half saying they know somebody who was persuaded to believe in a conspiracy theory because of the site’s content. Americans say, 76% to 11%, that Facebook makes
Continue Reading By Helen Regan and Cape Diamond, CNN American journalist Danny Fenster has been hit with new criminal charges in Myanmar that carry a maximum sentence of life in prison, his lawyer said. Fenster, a 37-year-old from Detroit, Michigan, has been detained in Myanmar for more than five months. He has been denied bail and held
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By Laura He, CNN Business China’s inflation headache is getting worse. The cost of goods leaving China’s factories surged by another record rate last month, and there are increasing signs that consumers are starting to feel the pain. The Producer Price Index jumped 13.5% in October from a year ago, accelerating from September’s 10.7%, China’s
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