By Anna Bahney After weeks of increases that pushed mortgage rates close to 4%, the climb took a break last week. The 30-year fixed-rate mortgage averaged 3.89% in the week ending February 24, down slightly from 3.92% the week before, according to Freddie Mac. Even with this decline, mortgage rates have increased by more than
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By Julia Horowitz, CNN Business Russian President Vladimir Putin’s decision to invade Ukraine could drive prices even higher at a moment when inflation is already rising at the fastest clip in decades. Economists are racing to assess the impact of the attack, which could spark the biggest war in Europe since 1945. The conflict is
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By Matt Egan, CNN Business Red-hot inflation in the United States may not cool off this year as much as many hoped, Goldman Sachs cautioned in a new report. “The inflation picture has worsened this winter as we expected, and how much it will improve later this year is now in question,” Goldman Sachs economists
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By Brian Fung, CNN Google is relaxing Covid-19 policies at its headquarters and other offices in the San Francisco Bay Area and bringing back some of its famous office perks as it fully opens some of its facilities. Gone are Google’s mask mandates in all Bay Area offices, except for those in Santa Clara County,
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By Mark Thompson, CNN Business The West is promising “massive” sanctions on Moscow in response to Russia’s invasion of Ukraine. French President Emmanuel Macron said Thursday that European sanctions would target Russia’s military, economy and energy, and Germany’s decision this week to halt certification of the Nord Stream 2 pipeline built by Russia’s Gazprom shows
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By Anneken Tappe, CNN Business America’s jobs recovery didn’t lose steam in the new year with a key measure of jobless claims dropping to its lowest level since March 1970, the Labor Department reported Thursday. Continuing claims for unemployment benefits, which count people who have filed for jobless aid for at least two weeks in
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By Laura He, CNN Business Global stocks plunged after President Vladimir Putin launched an invasion of Ukraine, drawing condemnation from the West and making punishing sanctions all but certain. European stocks tumbled on Thursday. The FTSE 100 fell 3.9% in London, while France’s CAC 40 dropped 3.8% and Germany’s DAX 30 shed 4%. Russian stocks
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By Anneken Tappe, CNN Business The economic recovery was stronger than initially thought in the fourth quarter of last year, new data from the Commerce Department showed Thursday. But for many Americans it didn’t feel that way. US gross domestic product — the broadest measure of economic activity — grew at an annualized pace of
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By Rishi Iyengar, CNN Business The standoff between the United States and Russia over the conflict in Ukraine has so far mainly played out on diplomatic and economic fronts. But now, as Russia invades Ukraine and the United States imposes new sanctions on Russia, there are concerns that may change. The US government is on
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By Julia Horowitz, CNN Business Russian President Vladimir Putin’s decision to invade Ukraine, which could spark the biggest war in Europe since 1945, has immediately stoked alarm among investors, who had been hoping such an outcome would be avoided. What’s happening: News early Thursday that Russian forces had begun an attack on Ukraine, with reports
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By Matt Egan, CNN Business Citigroup is saying goodbye to overdraft fees, making it the biggest US bank to pledge to eliminate the controversial charges. By this summer, Citi plans to get rid of overdraft fees, non-sufficient funds fees and overdraft protection fees, the bank exclusively told CNN on Thursday. The changes mean Citi will
Continue Reading By Rishi Iyengar, CNN Business The standoff between the United States and Russia over the conflict in Ukraine has so far mainly played out on diplomatic and economic fronts. But now, as Russia invades Ukraine and the United States imposes new sanctions on Russia, there are concerns that may change. The US government is on
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By Jordan Valinsky, CNN Business A number of companies have suspended production or limited manufacturing output in Ukraine because of the Russian invasion early Thursday. Companies that made those announcements include Carlsberg, a Coca-Cola bottling company, snack maker Mondelez and steel manufacturer ArcelorMittal. They join a number of airlines that have already suspended operations to
Continue Reading By Jordan Valinsky, CNN Business A number of companies have suspended production or limited manufacturing output in Ukraine because of the Russian invasion early Thursday. Companies that made those announcements include Carlsberg, a Coca-Cola bottling company, snack maker Mondelez and steel manufacturer ArcelorMittal. They join a number of airlines that have already suspended operations to
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By Kathryn Vasel When it comes to hiring, companies are moving fast. With millions of open jobs and not enough workers to fill them, employers are struggling to attract and retain employees. At the end of 2021, there were 10.9 million job openings, according to the most recent data from the Labor Department. One way
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By Mark Thompson and Chris Liakos, CNN Business Russian stocks crashed and the ruble hit a record low against the dollar on Thursday after Russian troops launched an attack on Ukraine. The invasion is likely to trigger a new wave of “full scale” sanctions aimed at President Vladimir Putin’s inner circle and Russia’s oil-dependent economy.
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By Mark Thompson and Chris Liakos, CNN Business Russian stocks crashed by more than 40% and the ruble hit a record low against the dollar on Thursday. The Moscow market rout was triggered by news that Russian troops had launched an attack on Ukraine, a move that is likely to trigger a new wave of
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By Rob McLean and Michelle Toh, CNN Business The price of bitcoin fell below $35,000 early Thursday after Russian President Vladimir Putin announced a military operation in the Donbas region of Ukraine. Bitcoin was trading at $34,969 as of 1:22 a.m. ET, according to CoinMarketCap. That’s a decline of more than 8% compared to a
Continue Reading By Rob McLean, CNN Business The price of bitcoin fell below $35,000 early Thursday after Russian President Vladimir Putin announced a military operation in the Donbas region of Ukraine. Bitcoin was trading at $34,750.15 as of 12:59a ET, according to CoinMarketCap. That’s a decline of more than 8% compared to a day earlier. The world’s
Continue Reading By Laura He, CNN Business Global stocks plunged after President Vladimir Putin launched a military attack on Ukraine, drawing condemnation from the West and making punishing sanctions all but certain. European stocks tumbled in the opening minutes of trading on Thursday. The FTSE 100 fell 2.5% in London, while France’s CAC 40 dropped 4% and
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