Money

By Elisabeth Buchwald, CNN New York (CNN) — Shares of New York Community Bank (NYCB) fell by as much as 20% in after-hours trading on Thursday after the beleaguered regional lender said in a filing it had identified “material weakness” in the company’s controls. The issues caused a $2.4 billion loss to shareholders last quarter,

By Brian Fung, CNN (CNN) — A high-profile lawsuit filed by Elon Musk’s X targeting hate speech researchers appeared to stumble on Thursday as a federal judge sounded a skeptical note on many of the lawsuit’s allegations, suggesting that the company formerly known as Twitter hasn’t done enough to establish its claims. The judge in

By Nicole Goodkind, CNN New York (CNN) — The tech-heavy Nasdaq composite index and S&P 500 broke records Thursday afternoon. The Nasdaq closed at a new high of 16,091.92, about 35 points above its last closing high of 16,057.44, reached in November 2021, in the post-Covid economic boom before the Federal Reserve began raising rates.

CNN By Nicole Goodkind, CNN New York (CNN) — The tech-heavy Nasdaq composite index and S&P 500 broke records Thursday afternoon. The Nasdaq closed at a new high of 16,091.92, about 35 points above its last closing high of 16,057.44, reached in November 2021 before the Federal Reserve began raising rates. The S&P 500, meanwhile,

By Matt Egan, Elisabeth Buchwald and Samantha Delouya, CNN New York (CNN) — Jewish students at major universities told lawmakers on Thursday they feel unsafe on campus amid a surge in antisemitism. At a roundtable hosted by the House Education and Workforce Committee, students from Columbia University, the Massachusetts Institute of Technology and other schools

By John Towfighi, CNN New York (CNN) — One brand of hydrogen peroxide mouthwash is being recalled nationwide for posing a potential poisoning risk for children. The Consumer Product Safety Commission announced February 29 that Heritage Store Hydrogen Peroxide Mouthwash is being recalled for a lack of child-resistant packaging required for products containing a certain

By Anna Bahney, CNN Washington, DC (CNN) — Mortgage rates climbed for the fourth week in a row, inching closer to 7%. The 30-year fixed-rate mortgage averaged 6.94% in the week ending February 29, up from 6.90% the previous week, according to data from Freddie Mac released Thursday. A year ago, the average 30-year fixed-rate

By Elisabeth Buchwald, CNN New York (CNN) — It’s no secret that commercial real estate (CRE) has become a source of stress for banks. Had they known there was going to be a pandemic that would completely disrupt where people work, they likely would have given more pause to lending money to clients who lease

By Diksha Madhok and Hanna Ziady, CNN New Delhi/London (CNN) — India has reported surprisingly robust economic growth, ending 2023 on a high note and providing a boost to Prime Minister Narendra Modi just weeks before an election that could give him a third term in office. Gross domestic product (GDP) in the world’s fastest

By Alicia Wallace, CNN New York (CNN) — Rising prices continued to loom large in January, but new data released Thursday showed that inflation is still on a downward — albeit bumpy — path toward the Federal Reserve’s 2% target. The Personal Consumption Expenditures price index was up 2.4% for the 12 months that ended

By Jordan Valinsky, CNN New York (CNN) — Oprah Winfrey is leaving the board of WeightWatchers, ending a nearly decade-long stint as a director of the beleaguered company that has faced sudden competition from Ozempic. Winfrey notified the company of her decision earlier this week, telling them she won’t be standing for re-election at its annual

By Jordan Valinsky, CNN New York (CNN) — Panera’s recent attempt to boost sales with a bigger, more high-end menu isn’t working. So it’s getting back to basics, acknowledging that customers in a world of high inflation are looking for less-expensive food. Although the company doubled down on dinner offerings as recently as a few

By Jeanne Sahadi, CNN New York (CNN) — If you have a job, you’re likely not working for free. In fact, when you were hired, you agreed to work for a given amount of pay over the course of a year, which you assumed meant 365 days. Except this year — and every fourth year,

CNN By Jeanne Sahadi, CNN New York (CNN) — If you have a job, you’re likely not working for free. In fact, when you were hired, you agreed to work for a given amount of pay over the course of a year, which you assumed meant 365 days. Except this year — and every fourth

By Gregory Wallace, Colin McCullough, Evan Perez and Chris Isidore, CNN Washington DC (CNN) — Boeing faces yet another federal probe over its 737 Max door plug blowout, this one by the Justice Department, an investigation that could expose it to criminal liability. Justice is reviewing whether deficiencies found in the wake the door plug

By Hanna Ziady, CNN London (CNN) — The world’s largest brewer may have lost as much as $1.4 billion in sales because of the backlash to its brief partnership with a transgender influencer to promote Bud Light beer. Anheuser-Busch InBev (BUD) reported record revenues for 2023 Thursday but said its “full growth potential was constrained”

By Juliana Liu, CNN (CNN) — Gemini Trust, a cryptocurrency exchange founded by Cameron and Tyler Winklevoss, will return at least $1.1 billion to customers of its now shuttered lending program, following a settlement with a New York regulator. Gemini will also pay a $37 million fine to the regulator “for significant failures that threatened

By Anna Cooban, CNN London (CNN) — European consumer rights groups have accused Meta, the owner of Facebook and Instagram, of carrying out a “massive” and “illegal” operation of collecting data from hundreds of millions of users in the region. The European Consumer Organisation (BEUC), an umbrella body for 45 consumer groups, said eight of

By Oliver Darcy, CNN New York (CNN) — The White House is formally calling on Fox News to walk back its coverage of bribery and corruption allegations against President Joe Biden. In a letter sent to the right-wing network’s top brass this week, which has not been previously reported, Ian Sams, a top White House spokesperson, noted that the ex-FBI informant who