Money

By Samantha Delouya, CNN (CNN) — Nearly half of all renter households in the US were cost-burdened in 2023, meaning they paid more than 30% of their income towards housing costs, according to new government data. The data, released Thursday as part of the US Census Bureau’s 2023 American Community Survey, underscores the gravity of

By Bryan Mena, CNN Washington (CNN) — It’s hard to overstate how tough it has become for millions of Americans to purchase a home — a cornerstone of the so-called American Dream. Home prices are sky-high, mortgage rates remain higher than anything seen from 2008 to 2022 and housing supply is not keeping up with

By Piper Hudspeth Blackburn, CNN (CNN) — A federal appeals court in Washington, DC, on Thursday evening temporarily blocked a prediction market from offering bets on the November elections, granting a government watchdog’s request to pause a ruling that made way for legal political gambling in the United States. Earlier Thursday, US District Judge Jia

By Jeanne Sahadi, CNN (CNN) — When you’re making a purchase at a store’s checkout counter, you may be invited to sign up for the retailer’s store card and promised an initial discount on what you’re buying, plus future perks. “Ok, why not?” you think. Here’s why not: If you ever end up carrying a

By Bryan Mena, CNN Washington (CNN) — Mortgage rates fell this week to the lowest point since February 2023, in a welcome sign for Americans grappling with a tough housing market. The standard, 30-year fixed-rate mortgage averaged 6.20% in the week ended September 12, mortgage financing giant Freddie Mac said Thursday. That’s down from last

By David Goldman, CNN (CNN) — Emily Wiprud, the first officer piloting Alaska Airlines Flight 1282 on January 5, says she initially thought people had been killed when the plane’s door plug blew off shortly after takeoff, according to an interview with CBS News Wednesday. “I opened the flight deck door. And I saw quiet.

By Alicia Wallace, CNN (CNN) — Another day, another encouraging inflation report — but one with enough hint of concern to keep the victory parades at bay and keep the Federal Reserve from going big on its impending rate cut. The Producer Price Index, which measures average price changes seen by producers and manufacturers, markedly

By Hanna Ziady, CNN London (CNN) — The European Central Bank cut interest rates Thursday, lowering borrowing costs for the second time in recent months as inflation slows and Europe’s economy stumbles. The widely anticipated decision, which was unanimously agreed by the ECB’s 26 rate-setters, takes the benchmark rate in the 20 countries that use

By Ramishah Maruf, CNN New York (CNN) — The McDonald’s $5 meal deal is staying on menus until December, a sign that inflation-weary customers are devouring value meals recently offered by fast food chains. The Chicago-based fast-food giant announced the $5 meal deal in June. But what the company offered as a one month only

By Matt Egan, CNN (CNN) — The face of artificial intelligence in America is set to meet with top US officials at the White House on Thursday, CNN has learned, in a first-of-its-kind meeting to solve a riddle that could severely strain US infrastructure: how to power the AI boom. Sam Altman, the CEO behind

By Hadas Gold, CNN New York (CNN) — When Rupert Murdoch, the 93-year-old media mogul, quietly decided last year to upend the irrevocable family trust that governs who will control his sprawling global media empire after his death, the move ignited an intense feud among his children. But the secret family affair now playing out inside an obscure Reno, Nevada, courtroom like a page ripped from

By Matt Egan, CNN New York (CNN) — It’s easy to dismiss many presidential candidates’ campaign promises as empty, because Congress would need to approve them. Tariffs are different. Presidents have vast powers to lob tariffs on friends and foes, as former President Donald Trump demonstrated when he waged a trade war starting in 2018.

By Juliana Liu, CNN Hong Kong (CNN) — A Chinese investment bank known for making some of the biggest deals in the country’s tech sector during its heyday has revealed it received a massive bill for 78 million yuan ($11 million) related to the disappearance of its star banker, Bao Fan. The request for payment

By Chris Isidore and Vanessa Yurkevich, CNN New York (CNN) — Little has gone right for Boeing over the last five years. By this time tomorrow, the troubled company could add another mess to its growing list of problems: A massive strike by 33,000 of its workers that could stop airplane production at America’s largest

By Kathleen Magramo, CNN (CNN) — After years of speculation and hype, Sony will be launching an upgraded version of its popular PlayStation 5 at the console’s highest ever price. The PS5 Pro will go on sale on November 7 at $700, about 40% more expensive than the PS 5 when it launched in 2020,

By Chris Isidore, CNN New York (CNN) — Norfolk Southern CEO Alan Shaw was fired for cause by the railroad’s board for “engaging in a consensual relationship with the company’s chief legal officer,” who was also terminated, the railroad announced Wednesday evening. A statement from the company on Wednesday said that Shaw had been dismissed

By Hadas Gold, CNN New York (CNN) — The first presidential debate between Vice President Kamala Harris and former President Donald Trump drew an estimated 67.1 million viewers across 17 television networks — blowing well past the 51 million who watched the Republican nominee take on President Joe Biden in June. Tuesday night’s 90-minute matchup in

By Ramishah Maruf, CNN New York (CNN) — Fast casual chain BurgerFi filed for Chapter 11 bankruptcy Wednesday after months of reporting financial distress. BurgerFi is another casualty of the rough business conditions hitting fast casual chains this year, which included Rubio’s, Buca di Beppo and Red Lobster also declaring bankruptcy. Even if not filing

CNN By Alicia Wallace, CNN (CNN) — Inflation continues to loosen its grip on American consumers, with price hikes slowing by the most in three and a half years, according to new data from the Bureau of Labor Statistics released Wednesday. The Consumer Price Index, a measurement of price changes for a commonly purchased basket