Money

By Anna Cooban and Laura He, CNN Markets in Europe and Asia tumbled Friday following a sharp selloff in banking stocks in the United States as a major tech lender said it had to sell shares to plug a hole in its finances. SVB Financial Group, which is partnered with nearly half of all venture-backed

By Alicia Wallace, CNN The US economy added 311,000 jobs in February, according to the latest monthly employment snapshot from the Bureau of Labor Statistics released Friday. That’s a pullback from the blockbuster January jobs report, when a revised 504,000 positions were added, but shows the labor market is still emitting plenty of heat. The

By Hanna Ziady, CNN London is used to punching well above its weight in global financial markets. For years, the London Stock Exchange attracted an outsized share of investor capital relative to the size of the UK economy, reflecting the international nature of its listed companies. In 2000, UK-listed equities made up 11% of the

By Oliver Darcy, CNN Bob Iger’s vision for Disney is coming into greater focus. In his appearance at Morgan Stanley’s annual Technology, Media & Telecom Conference, Iger spoke at length about the future of the entertainment Goliath he once again finds himself leading, providing a glimpse into his plans for the media powerhouse. The CEO

By Parija Kavilanz, CNN More than 3.2 million Calico Critters toys that were sold in a set with a baby bottle and pacifier accessories are being recalled because they pose a serious choking hazard for small children, the Consumer Product Safety Commission said Thursday. Epoch Everlasting Play, based in Pine Brook, New Jersey, makes the

By Nathaniel Meyersohn and Matt Egan, CNN Visa, Mastercard and Discover announced they will pause a plan to implement a new merchant category code for the nation’s gun retailers after political pressure from Republicans. The measure that was designed help flag potential mass shooters and gun traffickers. In the wake of mass shootings, some financial

By Nicole Goodkind, CNN Fear overtook Wall Street Thursday after SVB Financial Group, a bank that lends primarily to tech companies, told investors it had to sell $1.75 billion in shares at a loss in order to cover rapidly declining customer deposits. That triggered losses across the banking sector and concern that the Federal Reserve’s

By Anna Bahney, CNN Mortgage rates edged further toward 7%, rising for the fifth consecutive week, as the Federal Reserve suggests rate increases will continue amid stubborn inflation. The 30-year fixed-rate mortgage averaged 6.73% in the week ending March 9, up from 6.65% the week before, according to data from Freddie Mac released Thursday. A

By Jordan Valinsky, CNN Business General Motors said in January it would save $2 billion without planning any layoffs. But on Thursday it said it was looking for workers to leave voluntarily. In a regulatory filing, the automaker said it was looking to save costs through attrition and a voluntary separation program in which eligible

By Nicole Goodkind, CNN Reddit investors have been the butt of many jokes over the last few years, but could these much-maligned meme traders have the last laugh? A surprising new survey finds that 58% of institutional investors — the professionals who trade on behalf of banks and pension funds, the so-called “smart money” —