CNN – Business/Consumer

By Bryan Mena, CNN Washington (CNN) — Home sales based on contract signings unexpectedly jumped in March despite elevated mortgage rates that month. And the latest data from Freddie Mac showed that mortgage rates edged higher this week, reaching a fresh five-month high. Pending home sales — a forward-looking indicator based on contract signings rather

By Nicole Goodkind, CNN New York (CNN) — US stocks closed lower Thursday after the latest GDP report showed that US economic growth slowed to 1.6% in the first quarter of the year, a much weaker pace than expected. The Dow fell by 375 points, or 1%; the S&P 500 was down 0.5% and the

By Chris Isidore, CNN New York (CNN) — Southwest Airlines announced Thursday it will stop serving four airports after reporting increased losses in the first quarter and more delays in the delivery of promised jets from Boeing. The four airports are Bellingham International Airport in Washington state, Cozumel International Airport in Mexico, Syracuse Hancock International Airport

By Bryan Mena, CNN Washington (CNN) — The US economy cooled more than expected in the first quarter of the year, but remained healthy by historical standards. Economic growth has slowed steadily over the past 12 months, which bodes well for lower interest rates, but the Federal Reserve has made it clear it’s in no

By Peter Valdes-Dapena, CNN (CNN) — In its earliest days Buick had a reputation for engineering innovation and raw speed. Swiss-born race driver Louis Chevrolet made his name, in part, driving Buicks on race tracks around the country. In the 21st Century, though, Buick, which celebrates its 125th anniversary this year, has been a quiet

By Anna Cooban, CNN London (CNN) — Mining giant BHP has made a near-$40 billion bid to take over its UK rival Anglo American in what would be the largest mining deal on record. BHP said in a statement Thursday that it valued Anglo American shares at £25.08 ($31.40) apiece, or £31.1 billion ($38.9 billion)

By Brian Fung, CNN (CNN) — The clock has begun ticking for TikTok to find a new owner. President Joe Biden signed legislation Wednesday that would ban TikTok in the United States unless its Chinese parent, ByteDance, sells the app. TikTok plans to challenge the law in court, but if it fails, the company would

By Hanna Ziady, CNN London (CNN) — Shares in Meta plunged Thursday, as the Facebook owner’s plans to “invest aggressively” in artificial intelligence spooked investors. The stock fell as much as 15% to $421.40 when the Nasdaq opened, wiping $183 billion off its market value. The selloff, which started in after-hours trade Wednesday, came as

By Hanako Montgomery and Helen Regan, CNN Tokyo/Hong Kong (CNN) — Mitsuko Tottori admits Japan has much more to do to get people like her into the chief executive seat. Tottori was named as the first female president and chief executive of Japan Airlines (JAL) in January, crowning a career that began nearly 40 years

By Hadas Gold, CNN (CNN) — TikTok’s expected legal challenge to a law signed Wednesday by President Joe Biden forcing the popular app’s parent company to spin off its US operations could be a seminal moment in First Amendment law in what is shaping up to be a year of defining cases. The new law gives TikTok’s parent company

By Oliver Darcy and Marshall Cohen, CNN (CNN) — The Gateway Pundit, the notorious far-right blog and prolific publisher of conspiracy theories, said Wednesday that it had filed for bankruptcy protection as it grapples with litigation related to its coverage of the 2020 election. The move comes as the staunchly pro-Donald Trump website, which promoted the false notion that

By Chris Isidore, CNN New York (CNN) — Ford’s electric vehicle unit reported that losses soared in the first quarter to $1.3 billion, or $132,000 for each of the 10,000 vehicles it sold in the first three months of the year, helping to drag down earnings for the company overall. Ford, like most automakers, has

By Samantha Delouya, CNN (CNN) — A federal judge gave a green light to the National Association of Realtors’ settlement, paving the way for an overhaul of the way people buy and sell their homes in the United States. On Tuesday, Judge Stephen Bough granted preliminary approval to the $418 million antitrust settlement in a

By Nathaniel Meyersohn, CNN New York (CNN) — Clear is a service that lets people skip the security line at airports with nothing but a biometric scan and $189. Some California lawmakers want to make changes to it in the state, saying it separates travelers into haves and have-nots. California lawmakers voted 8-4 to move

By Hanna Ziady, CNN London (CNN) — A year after the failure of Credit Suisse, the Swiss government says UBS may have to find as much as $27 billion to absorb potential losses and protect taxpayers from ever having to bail out a major bank. Now, the giant Swiss lender is hitting back, saying its

By Matt Egan, CNN New York (CNN) — Trump Media & Technology Group is asking Congress to investigate its suspicions that illegal activity is driving down its share price. In a letter disclosed on Wednesday, Devin Nunes, the CEO of Truth Social owner Trump Media (DJT), alerted the GOP Chairmen of the House Ways and

By Olesya Dmitracova, CNN London (CNN) — European Union officials have raided the offices of Chinese security equipment maker Nuctech as part of a probe into subsidies, exposing rising tensions between the bloc and one of its biggest trading partners. The European Commission said Tuesday that it carried out “unannounced inspections” at the premises of

By Chris Isidore, CNN New York (CNN) — Boeing reported a slightly smaller loss in the first quarter compared to the same time a year ago, but said fixing the problems that got attention after the Alaska Air incident will push back its financial recovery and cost it $443 million in compensation to its airline

By Hilary Whiteman, CNN Brisbane, Australia (CNN) — In one camp is a tech billionaire with more than 181 million followers on his own social network. In the other, political leaders representing a country of just 26 million people. Insults have been hurled for days by both sides in an increasingly bare-knuckled fight between X

By Ross Levitt and Pete Muntean, CNN (CNN) — A union representing Boeing engineers has alleged the plane maker retaliated against two employees who, at the time, were working on behalf of the Federal Aviation Administration (FAA) to provide manufacturing oversight. The allegations came to light in recent days after the Society of Professional Engineering Employees in