By Anna Bahney, CNN Last year was a wild ride in the US housing market. Mortgage rates doubled and sales plummeted, triggering the longest month-to-month slump on record. A lot of would-be buyers and sellers watched from the sidelines. Throughout 2022, the Federal Reserve hiked its benchmark interest rate at a record pace to slow
Continue Reading By Julia Horowitz, CNN Ukraine’s economy shrank by more than 30% in 2022 after Russia’s brutal invasion destroyed infrastructure, hurt businesses and disrupted daily life, according to the country’s economy ministry. “During 2022, Ukraine’s economy suffered the largest losses and damage in the history of its independence,” Economy Minister Yulia Svyrydenko said Thursday. The projected
Continue Reading By Laura He, CNN Chinese tech giants are witnessing a dream start to the year. The Nasdaq Golden Dragon China Index — a popular index tracking Chinese firms listed in the United States — soared 13% in the first two trading days of 2023, marking its best start to a year on record, according to
Continue Reading By Peter Valdes-Dapena, CNN BMW unveiled a pair of concept cars at the Consumer Electronics Show that show off how future cars might respond to the moods of their owners, with moods of their own. The two cars, which look basically the same, are both called the i Vision Dee concept. Dee stands for Digital
Continue Reading By Peter Valdes-Dapena, CNN Sony and Honda, which announced a joint venture last year to develop and build electric cars, have revealed the name of their new car brand. It will be called Afeela. At a presentation during the Consumer Electronics Show, Sony Honda Mobility chief executive Yasuhide Mizuno revealed a prototype of the company’s
Continue Reading By Jennifer Korn and Oliver Darcy, CNN The NFL showdown between the Cincinnati Bengals and Buffalo Bills, which was postponed in the first quarter after Bills safety Damar Hamlin suffered a cardiac arrest and collapsed on the field, was the most-watched “Monday Night Football” telecast in ESPN history, averaging 23.8 million viewers, according to preliminary
Continue Reading By Catherine Thorbecke, CNN Amazon says it plans to lay off more than 18,000 employees as the global economic outlook continues to worsen. Several teams will be affected, including the human resources department and Amazon Stores, according to a memo from CEO Andy Jassy shared with employees. “Companies that last a long time go through
Continue Reading By Clare Duffy, CNN Elon Musk’s team has subpoenaed the head of Saudi Arabia’s Public Investment Fund as part of litigation over the Tesla CEO’s 2018 tweet that he was considering taking the car company private and had secured funding to do so. Tesla shareholders sued Musk in 2018, alleging that he did not, in
Continue Reading By Jennifer Korn, CNN Hang onto your baby bonnets: Self-driving technology is coming to strollers. Canadian-based baby gear startup Gluxkind was showing off its Ella AI Powered Smart Stroller at this year’s CES, the consumer electronics show in Las Vegas that offers some of the most cutting edge — and out-there — new technologies. The
Continue Reading By Nicole Goodkind, CNN Business Former Federal Reserve Chairman Alan Greenspan believes a US recession is the “most likely outcome” of the Fed’s aggressive rate hike regime meant to curb inflation. He joins a growing chorus of economists predicting imminent economic downturn. His views are particularly important. Not only did Greenspan serve five terms as
Continue Reading By Anna Bahney, CNN It is almost as if the wild turns in the Manhattan real estate market during the pandemic didn’t happen. Almost. The frenzy to buy apartments in Manhattan took off in 2021 as the city bounced back from the worst of the pandemic. But it nosedived at the end of 2022, with
Continue Reading By Nathaniel Meyersohn, CNN Skip Bayless spent a third straight day defending his controversial tweet about Buffalo Bills safety Damar Hamlin, this time during a tense exchange Wednesday with his Fox Sports talk show co-host Shannon Sharpe. Sharpe, a former NFL player and member of the NFL Hall of Fame, returned to the duo’s talk
Continue Reading By Nathaniel Meyersohn, CNN Skip Bayless spent a third straight day defending his controversial tweet about Buffalo Bills safety Damar Hamlin, this time during a tense exchange Wednesday with his Fox Sports talk show co-host Shannon Sharpe. Sharpe, a former NFL player and member of the NFL Hall of Fame, returned to the duo’s talk
Continue Reading By Samantha Murphy Kelly, CNN Business Apple is raising the price of battery replacements for all out-of-warranty iPhone models prior to the current iPhone 14 lineup, the company confirmed on its website. Starting March 1, Apple will charge $89 for battery replacements for iPhone X through iPhone 13 models, a $20 increase from the current
Continue Reading By Oliver Darcy, CNN ESPN is sticking by its reporting that the NFL had initially planned to resume Monday’s football game after Buffalo Bills safety Damar Hamlin suffered cardiac arrest and collapsed on the field — a claim the NFL vehemently denies. The NFL postponed Monday’s game between the Bills and the Cincinnati Bengals following
Continue Reading By Chris Isidore, CNN The NFL’s decision not to resume or replay Monday’s Bills-Bengals game, which was halted after Buffalo safety Damar Hamlin suffered cardiac arrest, won’t be particularly costly the world’s richest sports league. After the league announced late Thursday that the game will not be completed, the home-team Cincinnati Bengals notified fans who
Continue Reading By Chris Isidore, CNN One year after losing the title it held for nearly a century as the top car seller in America, General Motors is back on top. GM reported Wednesday US sales of 2.3 million vehicles. Strong fourth quarter sales, up 41% from a year ago, allowed it to end the year with
Continue Reading By Jordan Valinsky, CNN James “Buster” Corley, co-founder of the popular restaurant and entertainment chain Dave & Buster’s, has died. He was 72. Dave & Busters said that Corley was an “innovative and creative force” in a statement confirming his death. “His pioneering spirit and steadfast belief that ‘everybody is somebody’ set the foundation for
Continue Reading By Samantha Murphy Kelly, CNN Business A new take on a foldable phone. A pricey toilet sensor that monitors hydration and vitamin levels. And an AI-powered oven. The Consumer Electronics Show, now in its 56th year, kicks off this week in Las Vegas with a familiar mix of cutting edge technology and oddball gadgets. The
Continue Reading By Allison Morrow, CNN Coinbase, one of the most popular US crypto-trading platforms, agreed to a $100 million settlement after New York regulators found “significant failures” to comply with the state’s anti-money-laundering laws. The settlement includes a $50 million penalty Coinbase must pay to the New York Department of Financial Services and a pledge to
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