Money

By Tami Luhby, CNN Americans’ wealth took a nosedive early this year as the stock market plummeted. The net worth of households and nonprofit organizations dropped $0.5 trillion to $149.3 trillion in the first quarter, according to Federal Reserve Bank data released Thursday. That’s a notable turnaround from the robust gains in wealth that began

By Oliver Darcy, CNN Business A New York State judge on Wednesday dismissed a lawsuit filed last year against Michael Corn, the former “Good Morning America” boss who was accused of sexual assault in a case that rocked ABC News and left staffers up in arms. Judge Barbara Jaffe ruled that the statute of limitations

Opinion by Mark Zandi for CNN Business Perspectives Consumer inflation figures for May will be out Friday, and the report is sure to be disquieting. Gasoline prices are seemingly breaking new record highs on almost a daily basis, food costs are soaring, and housing is becoming increasingly unaffordable. The persistence of high inflation in the

By Paul R. La Monica, CNN Business Most chief executive officers, when asked if their firm is for sale, would give a boring, lawyer-approved response about how their company does not comment on rumors or speculation. Not Credit Suisse’s Thomas Gottstein. When asked at a Goldman Sachs conference Thursday about chatter circulating on Wall Street

By Chris Isidore, CNN Business The two new Air Force One jets currently being built by Boeing are facing costly delays. Now there is a new potential problem to contend with: the paint job that former President Donald Trump ordered. Trump had criticized the jet’s current color scheme, which has changed little since the Kennedy

By Christine Romans, CNN Business More than 200 business leaders, representing employees in all 50 states, sent a joint letter to the Senate on Thursday, demanding “bold urgent action” to address gun violence in the wake of the killing of 19 children and two teachers at Robb Elementary School in Uvalde, Texas last month. “Like

By Anna Cooban, CNN Business A fire at one of the world’s biggest suppliers of liquefied natural gas has thrown Europe’s fragile energy security into doubt and spooked global gas markets. Freeport LNG, a liquefied natural gas (LNG) producer in Texas, will shut its doors for at least three weeks, the company confirmed to CNN

By Jeanne Sahadi, CNN Business The latest “crypto winter,” which sent the values of Bitcoin and other digital currencies plummeting, served as a healthy reminder that cryptocurrencies are highly risky investments. But that risk is by no means limited to price volatility. Should the company holding your crypto assets declare bankruptcy or otherwise be unable

By Anna Bahney, CNN Business Rents keep climbing in Manhattan, hitting a record high in May for the fourth consecutive month. Median rent for an apartment in Manhattan climbed to $4,000 a month in May, surging 25% from a year ago, according to a monthly report from brokerage firm Douglas Elliman and Miller Samuel Real

By Anna Bahney, CNN Business After taking a breather for several weeks, mortgage rates climbed again. The 30-year, fixed-rate mortgage averaged 5.23% in the week ending June 9, up from 5.09% the week before, according to Freddie Mac. The rate remains well above the 2.96% average from this time last year. “After little movement the

By Frank Pallotta, CNN Business “Jurassic World: Dominion” hits theaters this weekend, and it features one of the most successful movie stars in Hollywood today: Chris Pratt. Pratt — who plays dinosaur handler Owen Grady — has transformed himself from an actor best known for playing chubby goofballs into a ripped and bankable action star