By Anna Bahney, CNN Business Home building pulled back in November, as buyers faced spiking mortgage rates topping 7% that make homes increasingly unaffordable. Rates fell slightly through the month, but are still double what they were a year ago, continuing to put pressure on new home purchases. November housing starts, a measure of new
Continue Reading By Jordan Valinsky, CNN Business 3M, the conglomerate behind Post-It notes and Scotch tape, will stop making controversial per- and polyfluoroalkyl substances (PFAS) by the end of 2025. The chemicals, commonly known as “forever chemicals,” are found in hundreds of household items and used to make coatings and products that can repel water, grease, heat
Continue Reading By Catherine Thorbecke, CNN If you’ve ever wondered why TikTok suggested a certain video in your feed, you may start to get a little more clarity. TikTok on Tuesday said it is beginning to roll out a new feature to add more context about how the platform’s algorithms recommend videos in your “For You” feed.
Continue Reading By Sean Lyngaas, CNN A network of three hospitals in Brooklyn, New York, has had to work off paper charts for weeks following a cyberattack on its computer systems in late November, the hospital group’s chief executive told CNN Monday. The hack affected “clinical applications,” including “those used for imaging and other critical services,” but
Continue Reading By Nicole Goodkind, CNN It’s been a rollercoaster year for stocks. The S&P 500 is down more than 20% year-to-date and 2022 is likely to end up as the sixth-most volatile year since the Great Depression. But not all traders are on the same ride — the large, institutional investors on Wall Street have shuffled
Continue Reading By Lauren Kent, CNN Business The first images of banknotes featuring Britain’s King Charles III were unveiled on Tuesday by the Bank of England. Charles’ portrait will appear on English notes of £5, £10, £20 and £50. Meanwhile, the rest of the design will remain the same as the current notes that feature the late
Continue Reading By Rob McLean, CNN British Airways flights from the United States were delayed Monday night due to technical difficulties. “Our flights due to depart the USA tonight are currently delayed due to a technical issue with our third-party flight planning supplier, which we are urgently investigating,” the airline said in a statement. It is unclear
Continue Reading By Clare Duffy, CNN Elon Musk may soon be on the lookout for a new chief executive to run Twitter. After mounting criticism of his chaotic leadership at Twitter, including recent decisions to suspend tech journalists and introduce (and then delete) a controversial policy banning linking out to rival platforms, Musk posted a poll asking
Continue Reading By Matt Egan Elon Musk’s management of Twitter, including the banning of multiple journalists, has “severely damaged” market sentiment around Tesla, and risks sparking a backlash from advertisers and consumers, a Wall Street analyst warned on Monday. Oppenheimer & Co. downgraded its rating on Tesla, where Musk is the CEO, solely because of risks posed
Continue Reading By Anna Cooban and Hanna Ziady, CNN Europe has agreed to a cap on natural gas prices, following months of debate over whether the measure will protect European households and businesses from extreme price spikes as temperatures plummet. In a Monday meeting, EU energy ministers agreed to trigger a cap if the price of month-ahead
Continue Reading By Matt Egan, CNN Senator Elizabeth Warren is raising concerns about conflicts of interest and potential legal violations for Tesla following Elon Musk’s takeover of Twitter. In a letter to Tesla Chair Robyn Denholm, the Massachusetts Democrat argued Tesla shareholders may be hurt by its CEO’s ownership of Tesla and questioned whether the electric car
Continue Reading By Matt Egan, CNN Senator Elizabeth Warren is raising concerns about conflicts of interest and potential legal violations for Tesla following Elon Musk’s takeover of Twitter. In a letter to Tesla Chair Robyn Denholm, the Massachusetts Democrat argued Tesla shareholders may be hurt by its CEO’s ownership of Tesla and questioned whether the electric car
Continue Reading By Kara Scannell, Patrick Oppmann and Allison Morrow, CNN FTX founder Sam Bankman-Fried agreed to be extradited to the United States, where federal prosecutors have indicted him on eight counts of fraud and conspiracy. Jerone Roberts, the attorney representing Bankman-Fried in the Bahamas, confirmed Monday afternoon that his client “has agreed to be voluntarily extradited
Continue Reading By Jeanne Sahadi, CNN Let’s be honest: Saving and investing may be necessary, but they often can feel like a chore. Both become a lot more rewarding, however, when you think of them as more than just spreading your money across different investment categories, such as stocks and bonds, to fund a seemingly far-off, no-guarantees
Continue Reading By Matt Egan, CNN Business The great gasoline spike of 2022 has completely unwound, giving consumers a major boost after a year of high inflation. The national average for regular gasoline dropped to $3.14 a gallon on Monday, according to AAA. Gas prices haven’t been this low since July 2021. After moving steadily higher last
Continue Reading By Brian Fung, CNN Epic Games, maker of the hit video game “Fortnite,” has agreed to pay a total of $520 million to settle US government allegations that it misled millions of players, including children and teens, into making unintended purchases and that it violated a landmark federal children’s privacy law. As part of the
Continue Reading By Hanna Ziady, CNN European Union governments have reached a deal on the world’s first major carbon border tax, as part of an overhaul of the bloc’s flagship carbon market that aims to make its economy carbon-neutral by 2050. EU ministers finalized details of the Carbon Border Adjustment Mechanism early Sunday after reaching a provisional
Continue Reading By Brian Fung, CNN A Twitter poll created by Elon Musk asking whether he should “step down as head of Twitter” ended early Monday morning with most respondents voting in the affirmative. Musk had said he would abide by the results of the unscientific poll, which began Sunday evening and concluded with 57.5% voting yes,
Continue Reading By Brian Fung, CNN The European Union is investigating Facebook-parent Meta for possible antitrust violations stemming from the tight link between its core social media service and its online shopping platform, Facebook Marketplace. Because of Meta’s powerful position in social media, competition regulators in Europe worry that the company’s simultaneous offering of both services in
Continue Reading By Jordan Valinsky, CNN Business Fans of Lionel Messi looking to scoop up his official Argentina jersey following the soccer star’s first-ever FIFA World Cup win may be out of luck. Adidas has sold out of Messi and Argentina team kits worldwide, telling CNN in a statement that it’s been “working to meet the extraordinary
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