Money

By Anna Bahney, CNN Washington, DC (CNN) — US mortgage rates surged again this week, rising to their highest level since 2001. The 30-year fixed-rate mortgage averaged 7.23% in the week ending August 24, up from 7.09% the week before, according to data from Freddie Mac released Thursday. A year ago, the 30-year fixed-rate was

By David Goldman, CNN New York (CNN) — Dollar Tree had a miserable quarter, and company management is chalking it up to a mix of factors: changing consumer demands on top of higher prices for fuel and electricity … and theft. The company’s chief executive and chief financial officer homed in on that last one

By Allison Morrow and Krystal Hur, CNN New York (CNN) — The stock market has boomed this year, and one big reason is a company without much name recognition — unless you’re a hard core video gamer. Nvidia (NVDA) has surged 222% this year, including a 3% bump Thursday following super impressive earnings. Although it’s

By Jordan Valinsky, CNN New York (CNN) — “Barbie” is now the highest-grossing movie at the domestic box office this year, taking the crown away from “Super Mario Bros.” According to studio estimates, “Barbie” has made $575.4 million at the American box office as of Thursday, edging past Mario’s domestic haul of $574.2 million. “Barbie’s”

By Clare Duffy, CNN New York (CNN) — T-Mobile on Thursday announced it plans to lay off 5,000 employees, or around 7% of its total staff, over the next five weeks. The reductions will largely affect corporate and back-office jobs that are “primarily duplicative” to other roles and will reduce the company’s middle management layers,

By Oliver Darcy, CNN New York (CNN) — CNN is heading to the Max streaming platform. The network’s parent company, Warner Bros. Discovery (WBD), announced Thursday that it will incorporate live news into its super-streamer Max service, allowing subscribers access to 24/7 programming from the global news brand. The service, which launches a little more

By Jordan Valinsky, CNN New York (CNN) — Subway has sold itself to private equity firm Roark Capital, ending a six-month long search for a buyer. It brings to an end the sandwich chain’s near six-decade run as a family-owned business. In a statement, Subway said that the transaction is a “major milestone in Subway’s

By Niamh Kennedy and Anna Chernova, CNN (CNN) — Oil powers Saudi Arabia and the United Arab Emirates have been invited to become members of the BRICS group of developing nations in its first expansion in over a decade. Also invited are Iran, Egypt, Ethiopia and Argentina, South African President Cyril Ramaphosa said Thursday as

By Josh Campbell, CNN (CNN) — X has suspended an account that posted numerous anti-gay and antisemitic posts and was used by the man accused of killing store owner Lauri Carleton over her display of a Pride Flag. But the account had remained live two days after law enforcement publicly confirmed its existence on the

By Ramishah Maruf, CNN New York (CNN) — Two co-founders of cryptocurrency giant Tornado Cash, one of them a Russian national and the other an executive in Washington state, have been charged with operating a crypto scheme that allegedly laundered hundreds of millions of dollars for North Korean hackers, according to a federal indictment unsealed

By Marshall Cohen, CNN (CNN) — Fox News argued in court Wednesday that its hosts and guests were merely raising questions and “presented a puzzle to unravel” when they repeatedly suggested, falsely, that January 6 rioter Ray Epps was a government agent who orchestrated the attack. The pushback came in a defamation suit that Epps

By Marshall Cohen, CNN (CNN) — A Delaware judge on Wednesday rejected Newsmax’s attempt to throw out part of a defamation case brought by the election technology company Smartmatic against the right-wing network. Smartmatic sued Newsmax after the network repeatedly aired false claims about the 2020 election — specifically the lie that the company’s software

By Clare Duffy and Samantha Delouya, CNN New York (CNN) — The artificial intelligence boom continues to fuel a blockbuster year for chipmaker Nvidia. Nvidia’s stock jumped as much as 9% in after-hours trading Wednesday after the Santa Clara, California-based company posted year-over-year sales growth of 101%, to $13.5 billion for the three months ended

By Bryan Mena, CNN Washington, DC (CNN) — The conservative activist behind the Supreme Court case that struck down affirmative action in college admissions this year is suing two international law firms for providing diversity fellowships. The two lawsuits filed by the American Alliance for Equal Rights this week against law firms Perkins Coie and

By Danielle Wiener-Bronner, CNN New York (CNN) — On August 8, the day that Maui was overcome with flames, Qiana Di Bari saw a puff of smoke near her home and knew she and her family had to escape. Earlier that day, a fire had been spotted and put out in her vibrant Lahaina neighborhood.

By Matt Egan, CNN New York (CNN) — Macy’s is warning of a spike in customers who are failing to make credit card payments, adding to the evidence of mounting financial stress on consumers. The iconic department store had anticipated delinquencies would climb following a post-Covid lull. But Macy’s management has been caught off guard

By Alicia Wallace, CNN Minneapolis (CNN) — US job growth during much of the past year was weaker than previously projected by a little more than 300,000 jobs, according to new federal data released Wednesday. As part of the agency’s annual benchmark review of payroll data, the Bureau of Labor Statistics revised down March 2023’s

By Anna Bahney, CNN Washington, DC (CNN) — New home sales rose in July from the month before, beating estimates and reaching a 17-month high, as buyers continue to look to new construction as an option in the face of a historically low supply of existing homes. Sales of newly constructed homes were up 4.4%

By Jordan Valinsky, CNN New York (CNN) — A Peloton recall involving the adjustable seat on more than two million bikes is becoming a bigger headache than expected. Shares of the fitness company plummeted 20% in early trading Wednesday after another dismal earnings report that revealed the recall’s price tag “substantially exceeded” Peloton’s expectations, costing

By Danielle Wiener-Bronner, CNN New York (CNN) — The Pumpkin Spice Latte is coming back, again. Starbucks said Wednesday that the signature drink would return to the fall menu on Thursday, marking its 20th anniversary. The perennial Starbucks favorite has become a reliable hit, making it an autumn(ish) mainstay that has given the coffee chain