By Anna Bahney, CNN Business Anyone who bought a home — or tried to — over the past couple of years knows that it was rip-roaringly competitive, with buyers offering well above asking price and all-cash deals. But it actually could have been worse. One group all but disappeared from the market during the pandemic:
Continue Reading By Paul R. La Monica, CNN Business Goldman Sachs is clearly still the top dog on Wall Street. The investment banking powerhouse reported earnings and revenue Monday morning for the second quarter that easily topped analysts’ forecasts. Goldman Sachs posted a profit of $2.9 billion, or $7.73 a share, during the three months ending in
Continue Reading By Alexandra Peers, CNN Business It’s always frustrating to find out your flight is canceled. Far more frustrating? Receiving word while mid-air, on the first leg of your trip, that the second part of your flight is canceled. That’s what happened to a trio of British Airways passengers last week, in an incident first reported
Continue Reading By Clare Duffy, CNN Business Unlike many other social media platforms, Snapchat has been available only on mobile since its launch over a decade ago. But on Monday, the company launched a web-based version of the popular messaging app. The goal is to give users the freedom to switch between their phones and computers, all
Continue Reading By Sara Ashley O’Brien and Clare Duffy, CNN Business Months after Crystal learned that her boyfriend had been covertly dating at least two other people, she began warning women on TikTok to be cautious of dating him. “I wanted everyone … to see this man’s face. Beware of him, he is a manipulator, he is
Continue Reading By Frank Pallotta and Nicole Goodkind, CNN Business Netflix, once a darling of Wall Street, is suddenly on the ropes. The streaming giant will report its second-quarter earnings on Tuesday, and it’s shaping up to be one of the most consequential moments in the 25-year history of the company. Netflix is having a terrible year.
Continue Reading By Julia Horowitz, CNN Business If a recession were to arrive in the United States, there would normally be evidence of pain at America’s biggest lenders. But so far, top banks aren’t seeing major signs of weakness, even as they admit they’re bracing for tougher times ahead. What’s happening: Results from JPMorgan Chase, Wells Fargo
Continue Reading By Anna Cooban, CNN Business Europe is bracing for the potential of a full-blown gas crisis later this week just as an historic heatwave has hiked demand for energy to help cool the continent’s homes and businesses. On Thursday, the Nord Stream 1 pipeline — a crucial artery linking Russia’s gas to the bloc —
Continue Reading By Laura He, CNN Business China is trying to ease panic over two of the biggest issues threatening social stability in the country—mortgage boycotts and frozen bank accounts. On Sunday, the China Banking and Insurance Regulatory Commission urged banks to increase loan support for real estate developers so they can complete unfinished projects, as thousands
Continue Reading Story by Reuters The Indian government’s Covid-19 vaccinations hit 2 billion on Sunday, with booster doses underway for all adults, as daily infections hit a four-month high, official data showed. Prime Minister Narendra Modi extolled the vaccination milestone, celebrating the world’s largest and longest-running inoculation campaign that began last year. “India creates history again!” Modi
Continue Reading By Ramishah Maruf, CNN The attorney general of the state of Ohio couldn’t match the job of a local reporter who confirmed the case of a 10-year-old rape victim who traveled from Ohio to Indiana to receive an abortion, CNN analyst Bill Carter said on “Reliable Sources” Sunday. “There is not a damn scintilla of
Continue Reading By Ramishah Maruf, CNN The attorney general of the state of Ohio couldn’t match the job of a local reporter who confirmed the case of a 10-year-old rape victim who traveled from Ohio to Indiana to receive an abortion, CNN analyst Bill Carter said on “Reliable Sources” Sunday. “There is not a damn scintilla of
Continue Reading By Frank Pallotta and Nicole Goodkind, CNN Business Netflix, once a darling of Wall Street, is suddenly on the ropes. The streaming giant will report its second-quarter earnings on Tuesday, and it’s shaping up to be one of the most consequential moments in the 25-year history of the company. Netflix is having a terrible year.
Continue Reading By Danielle Wiener-Bronner, CNN Business When you walk into a supermarket and pick up an item — anything from milk to cereal to a can of beans — you’ll likely see a little date on the package preceded by “enjoy by,” “sell by,” or a similar phrase. You might think that date is the absolute
Continue Reading By Catherine Thorbecke, CNN Business An “unsubscribe” option that’s a little too hard to find. A tiny box you click, thinking it simply takes you to the next page, but it also grants access to your data. And any number of unexpected charges that appear during checkout that weren’t made clearer earlier in the process.
Continue Reading By Nathaniel Meyersohn, CNN Business In 2004, Procter & Gamble was looking for a hit. It had been two decades since the consumer products conglomerate introduced Tide liquid detergent, revolutionizing the way people washed their clothes. Cheaper rivals and in-house store brands were chipping away at Tide’s dominance. P&G had also found that consumers were
Continue Reading By Chris Isidore and Betsy Klein, CNN Business Worried about supply chain problems that are already causing problems for the nation’s economy, President Joe Biden took action Friday to prevent 115,000 US railroad workers from going on strike as planned early Monday morning, A strike would have brought nearly 30% of the nation’s freight to
Continue Reading By Chris Isidore and Betsy Klein, CNN Business Worried about supply chain problems that are already causing problems for the nation’s economy, President Joe Biden took action Friday to prevent 115,000 US railroad workers from going on strike as planned early Monday morning, A strike would have brought nearly 30% of the nation’s freight to
Continue Reading By Matt McFarland, CNN Business 47 Hertz customers have filed a lawsuit against the rental company that describes horror stories after they were allegedly falsely reported as having stolen its rental cars, and in some cases even jailed. The plaintiffs allege being blind-sided by arrests — sometimes at gunpoint — and in some cases spending
Continue Reading By Nicole Goodkind, CNN Business US stocks surged Friday as an end-of-week rally gained momentum and sent the Dow up over 600 points. A new batch of bank earnings and economic data Friday morning increased investors’ optimism about the state of the economy and lessened worries that the Federal Reserve could raise rates by a
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