Money

By Elisabeth Buchwald, CNN New York (CNN) — Throughout much of last year, the question of whether interest rates were high enough to rein in inflation dominated Federal Reserve officials’ policy meetings. Continuing to raise rates would help bring inflation closer to the Fed’s 2% target — but could cost people their jobs. On the

By Nicole Goodkind and Krystal Hur, CNN New York (CNN) — JPMorgan Chase kicked off earnings season Friday with a big miss. But that’s because of some strange accounting. The bank’s fourth-quarter profit fell by 15% from the year before, to $9.3 billion, way less than analysts surveyed by FactSet had expected. Earnings per share

By Matt Egan, CNN New York (CNN) — US-led airstrikes on Houthi targets in Yemen rattled energy markets on Friday, sending oil prices sharply higher. US crude climbed as much as 4.5% to $75.25 a barrel Friday morning. Brent crude, the world benchmark, jumped 4% and briefly crossed over the $80-a-barrel level. However, both oil

By Ramishah Maruf, Ross Levitt and Pete Muntean, CNN New York (CNN) — Winter weather, combined with the grounding of Boeing 737 Max 9 aircraft, is causing major disruptions for air travel. There have been more than more than 2000 flight cancellations Friday, the highest number since July 2023, data from the tracking site FlightAware

By Anna Bahney, CNN Washington, DC (CNN) — Renters and homeowners experience inflation differently, and right now renters are taking a much more painful hit. Consumer Price Index data released Thursday showed that inflation was at 3.4% in December. It was the highest level since September and a jump from November’s 3.1% reading. “The December

By Anna Cooban, CNN London (CNN) — Tesla plans to pause most production at its only European factory due to supply chain problems caused by attacks in the Red Sea. The carmaker said it would halt output at its huge factory near Berlin for two weeks from January 29 because assaults on container ships along

By Laura He, CNN Hong Kong (CNN) — China’s economy had a bad 2023 and the outlook isn’t much better. Exports for the year as a whole fell for the first time since 2016 as global demand for Chinese-made goods (other than cars) slowed, according to customs data released on Friday. Officials said the slump

By Joe Sutton and Pete Muntean, CNN (CNN) — A class action lawsuit was filed on Thursday in Washington state against Boeing on behalf of the passengers aboard last week’s Alaska Airlines flight 1282. According to the lawsuit’s allegations, “the event physically injured some passengers and emotionally traumatized most if not all aboard. The violence

By Nicole Goodkind, CNN New York (CNN) — CVS will close dozens of pharmacies located inside of Target stores in early 2024, a company spokesperson said on Thursday. The closures come as retail pharmacy chains in the US face increasing difficulties with their prescriptions business, workforces and more. CVS will shutter the pharmacies between February

By Ramishah Maruf, CNN New York (CNN) — Al Gore is stepping down from Apple’s Board of Directors – but only because he’s too old to be renominated. Apple has a longstanding policy that its directors cannot stand for reelection after reaching the age of 75. That means it’s time for Gore, who is now

By Samantha Delouya, CNN New York (CNN) — eBay will pay a $3 million criminal penalty for a harassment campaign, including sending live cockroaches, of a Massachusetts-based couple who ran a newsletter that was sometimes critical of the company. eBay was charged with six criminal offenses, including stalking, witness tampering and obstruction of justice, after

By Alicia Wallace, CNN New York (CNN) — More Americans are buckling under the weight of mounting credit card debt. All stages of credit card delinquency (30, 60 and 90 days past due) jumped higher during the third quarter of last year, surpassing pre-pandemic levels for the first time, according to a report released Thursday

CNN By Alicia Wallace, CNN New York (CNN) — More Americans are buckling under the weight of mounting credit card debt. All stages of credit card delinquency (30, 60 and 90 days past due) jumped higher during the third quarter of last year, surpassing pre-pandemic levels for the first time, according to a report released

By Oliver Darcy and Liam Reilly, CNN New York (CNN) — ESPN returned dozens of Emmy statues and “disciplined” employees after an investigation disclosed Thursday found that the sports network had submitted fake names to the awards organization in a bid to secure trophies for on-air personalities who had been ineligible to receive them. The

By Matt Egan, CNN New York (CNN) — A bipartisan Senate bill introduced Thursday could make it easier for students to file civil rights complaints over antisemitism and Islamophobia on college campuses and to hold those schools accountable for protecting students. The bill, introduced by Republican Sen. Bill Cassidy and Democratic Sens. John Fetterman and

By Casey Tolan and Rene Marsh, CNN (CNN) — More than four dozen members of Congress signed on to two letters Thursday expressing concern about the lending practices of the nation’s largest credit union, citing a CNN investigation into racial disparities in the lender’s mortgage approvals. In a letter to the Department of Housing and Urban Development

CNN, CNBC, NTSB, STEPHANIE KING, ELIZABETH, TIKTOK, NTSB, SAM MATTHEWS, CNN, CNN, CNBC, NTSB, Stephanie King, Elizabeth/TikTok, NTSB, Sam Matthews By Pete Muntean, Gregory Wallace and Ramishah Maruf, CNN (CNN) — The Federal Aviation Administration says it is opening an investigation into Boeing’s quality control after the violent in-flight failure of a door plug on

By Peter Valdes-Dapena, CNN (CNN) — Hertz, which has made a big push into electric vehicles in recent years, has decided it’s time to cut back. The company will sell off a third of its electric fleet, totaling roughly 20,000 vehicles, and use the money they bring to purchase more gasoline powered vehicles. Electric vehicles

By Alicia Wallace, CNN New York (CNN) — If the lure of a fox, a box, a mouse and a house were not enough to encourage Sam-I-Am to chow down on some green eggs and ham, Thursday’s inflation data surely won’t help matters either. Eggs and ham prices went up the most in December, while

By Pete Muntean, Gregory Wallace and Ramishah Maruf, CNN (CNN) — The Federal Aviation Administration says it is opening an investigation into Boeing’s quality control after the violent in-flight failure of a door plug on a nearly new 737 Max 9. In a new statement, the FAA says last Friday’s dramatic in-flight blowout on Alaska