Money

By Nathaniel Meyersohn and Anna Bahney, CNN New York (CNN) — The home insurance market is crumbling in New Orleans, leaving Alfredo Herrera with few options for coverage — and skyrocketing insurance premiums. Herrera, 35, works in finance for a local bank. He bought his 900-square-foot home in New Orleans’ Mid-City neighborhood in 2020 for

By Laura He, CNN Hong Kong (CNN) — Troubled housing giant Country Garden announced late Thursday that it would delay the publication of its annual results, in the latest sign of the turmoil still coursing through China’s huge property sector. In a filing provided to the Hong Kong stock exchange, the company said it needed

By Samantha Delouya, CNN (CNN) — Kia has recalled 427,407 of its Telluride SUVs because they can roll away while in park. All Telluride vehicles made between 2020 and 2023 and certain 2024 models are affected by the recall, according to a report this week by the National Highway Traffic Safety Administration. Kia did not

By Matt Egan and Ramishah Maruf, CNN New York (CNN) — Undergraduate applications to Harvard University dipped to four-year lows for the class of 2028, according to new figures that offer early clues into how the Ivy League school’s reputation has held up during a period of historic turmoil. The application figures are also the

By Allison Morrow and Lauren del Valle, CNN New York (CNN) — Sam Bankman-Fried on Thursday was sentenced to 25 years in prison, a year and a half after his crypto startup, FTX, imploded practically overnight and set off a massive a federal investigation. The outcome was not a huge surprise — a prison sentence

By Chris Isidore, CNN New York (CNN) — Demolition workers could open a channel for ships to move in and out of the Port of Baltimore as soon as one month after required equipment arrives on scene, according to an expert in the field familiar with ongoing discussions. The expert, who spoke to CNN on

By Nathaniel Meyersohn, CNN New York (CNN) — In its largest acquisition ever, Home Depot is expanding its business targeting professional contractors and builders as the home fixer-upper market stalls. Home Depot announced Thursday that it is spending $18.3 billion to buy SRS Distribution, a huge building-projects supplier that counts professional roofers, landscapers and pool

By Nicole Goodkind, CNN (CNN) — The United States is on the brink of a retirement crisis. By the end of the decade, about 21% of the country’s population will be 65 or older, up from 15% in 2016, according to forecasts by the Census Bureau. Most non-retired adults have some type of retirement savings,

By Catherine Thorbecke and Nathaniel Meyersohn, CNN New York (CNN) — The massive cargo ship crash into Baltimore’s Francis Scott Key Bridge will likely lead to billions of dollars in liability claims. Marine insurance companies will be on the hook for much of the costs. With various owners and companies involved – and with some

By Nicole Goodkind, CNN New York (CNN) — US markets ended Thursday little changed, but all major indexes managed to mark their fifth consecutive winning month. The S&P 500 was up 0.1% on Thursday, reaching a new record high. The Dow gained 47 points, or 0.1% also hitting a new high. The tech-heavy Nasdaq closed

By Clare Duffy, CNN New York (CNN) — YouTube says hundreds of thousands of creators are now earning a paycheck from posting short-form videos on the platform, as it ramps up its race to compete with rivals like TikTok and Instagram. It hasn’t been cheap: the Google-owned platform is shelling out tens of thousands of

CNN By John Towfighi, CNN (CNN) — Cocoa prices are surging so high, the Easter Bunny might want to hoard its chocolate. Consumers hunting for Easter eggs and chocolate bunnies this year can expect sticker shock similar to Valentine’s Day. Retail chocolate prices rose 11.6% across all of 2023, according to Circana data shared with

By John Towfighi, CNN (CNN) — Cocoa prices are surging so high, the Easter Bunny might want to hoard its chocolate. Consumers hunting for Easter eggs and chocolate bunnies this year can expect sticker shock similar to Valentine’s Day. Retail chocolate prices rose 11.6% across all of 2023, according to Circana data shared with CNN,

By Anna Cooban, CNN London (CNN) — Investors are refusing to inject billions in new money into Britain’s biggest water company, leaving the beleaguered business at risk of an emergency government takeover. The nine shareholders in Thames Water, which supplies water and wastewater services to 15 million people in London and the southeast of England,

By Laura He, CNN Hong Kong (CNN) — Xiaomi formally launched its much-anticipated electric car — the new Speed Ultra 7 (SU7) sedan — on Thursday night in Beijing. Lei Jun, founder and CEO of the popular Chinese smartphone brand, said the company’s first electric vehicle would sell for 215,900 yuan ($29,874) to 299,900 yuan

By Laura He, CNN Hong Kong (CNN) — Chinese leader Xi Jinping has told Dutch Prime Minister Mark Rutte that “no force can stop China’s scientific and technological development.” Xi’s comments come as a chip war rages between China and Western countries, including the Netherlands, which is home to ASML — the world’s sole manufacturer of

By Lauren del Valle and Allison Morrow, CNN New York (CNN) — Sam Bankman-Fried has been sentenced to 25 years in federal prison for defrauding customers and investors in his failed crypto exchange FTX, a Manhattan court ruled Thursday. Before announcing the sentence, Judge Lewis Kaplan said there was a risk “that this man will

By Brian Fung and Sam Fossum, CNN Washington (CNN) — By the end of the year, travelers should be able to refuse facial recognition scans at airport security screenings without fear it could delay or jeopardize their travel plans. That’s just one of the concrete safeguards governing artificial intelligence that the Biden administration says it’s