By Anna Bahney, CNN Business New rules rolled out earlier this year by mortgage giants Fannie Mae and Freddie Mac are creating a bottleneck in the real estate market for those seeking to buy or sell condo or co-op apartments, according to agents and condo associations. The new rules are intended to address concerns about
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By Nicole Goodkind, CNN Business When a trade jumps by 250% over the course of days, investors typically pop bottles of champagne. Between Friday, March 4 and Tuesday March 8, nickel futures did just that — soaring on the London Metal Exchange from about $29,000 to $100,000 per ton. But the champagne remains corked, investors
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By Nathaniel Meyersohn, CNN Business Wander around a supermarket and you’ll bump into all sorts of characters: Tony the Tiger, Toucan Sam, Cap’n Crunch and Buzz Bee in the cereal section. Mr. Clean, Brawny Man and the Charmin Bear among the household items. A few aisles later, chances are you’ll spot Betty Crocker, Kool-Aid Man,
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By Zoe Sottile, CNN Alaska Airlines announced that it has launched new, gender-neutral uniform guidelines for flight attendants. “We have updated our uniform guidelines, effective today, to provide more freedom and flexibility in individual and gender expression,” the airline said in a statement on Monday. The airline said it will also collaborate with Seattle designer
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By Oliver Darcy, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. The largest LGBTQ advocacy group in the US has stripped Fox Corporation of its status as a preferred LGBTQ friendly employer and released a blistering statement condemning the network for
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Catherine Thorbecke, CNN Business Amazon CEO Andy Jassy received a pay package valued at $212.7 million in 2021, marking a substantial compensation increase for the executive during his first year running the tech giant, according to a company filing with the US Securities and Exchange Commission on Friday. Nearly all of Jassy’s compensation comes in
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By Anneken Tappe, CNN Business America’s economic recovery from the historic shock of the pandemic has been nothing short of extraordinary. However, consumers are feeling disparaged as they struggle with rising prices on everything from garden furniture and groceries to gas. Home prices have gone through the roof but with the Federal Reserve raising interest
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By Nicole Goodkind, CNN Business The seesaw first quarter of 2022 came to a bitter end this week, with major stock indexes suffering their worst performance in two years. Surging inflation, Russia’s invasion of Ukraine and a speed-up of the Federal Reserve’s rate-increase plan created a series of unique challenges for investors, which led to
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By Chris Isidore, CNN Business The Biden administration Friday rolled out final emissions rules that will require cars and trucks to have an average fuel economy of 49 miles per gallon in just a few years. The rule comes as Americans are paying record prices for gas. Friday’s reading for the national average price for
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By Matt Egan, CNN Business Sanctions leveled on Russia have pushed the country toward becoming a closed economy, a status the country is ill-equipped to handle, a senior Treasury official said on Friday. “The economic consequences Russia is facing are severe: high inflation that will only get higher, and deep recession that will only get
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By Paul R. La Monica, CNN Business The jobs market is still healthy and paychecks are growing at a solid rate — although not fast enough to make up for surging prices on just about everything. That means that the Federal Reserve is increasingly certain to raise interest rates in May by a half-point to
Continue Reading By Matt Egan, CNN The price of New York Harbor jet fuel has more than doubled in the past two weeks, reaching an all-time high for any US-traded transportation fuel in at least the past 41 years, according to the Oil Price Information Service. The wholesale price for NY jet fuel spiked to $7.57 a
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By Matt Egan, CNN Business The International Energy Agency announced Friday following an emergency meeting that its member countries will release additional oil from emergency reserves to cushion the blow caused by Russia’s invasion of Ukraine. However, the IEA did not disclose key details on the size and timing of this additional emergency action, which
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By Oliver Darcy and Brian Stelter, CNN White House press secretary Jen Psaki plans on departing the Biden administration in the coming weeks and heading to MSNBC, two people familiar with the matter told CNN on Friday. Psaki has not officially signed a contract with the progressive cable news network, but the talks are in
Continue Reading By Anneken Tappe, CNN Business America’s economic recovery from the historic shock of the pandemic has been nothing short of extraordinary. However, consumers are feeling disparaged as they struggle with rising prices on everything from garden furniture and groceries to gas. Home prices have gone through the roof but with the Federal Reserve raising interest
Continue Reading Opinion by Matthew F. Ferraro for CNN Business Perspectives Last month, a false video circulated online that seemed to show Ukrainian President Volodymyr Zelensky telling his soldiers to surrender to the Russian invasion. The video — a mediocre lip-sync of Zelensky’s face and voice — was the product of artificial intelligence manipulation, commonly known as
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By Reuters Russian energy giant Gazprom said on Friday it was exiting its business in Germany, amid a dispute between the two countries over Moscow’s insistence on switching payments for Russian gas to rubles from euros. It was not immediately clear how the move would affect the supply of Russian gas, on which Germany depends
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By Paul R. La Monica, CNN Business The “apes” bullish on GameStop may soon be able to buy their favorite stock at a much lower price. The meme darling of the Reddit crowd wants to initiate a stock split, a move that will drastically reduce the cost of one share, the company said late Thursday
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By Sara Ashley O’Brien, CNN Business Amazon warehouse workers at a facility in New York City have voted to form the first US union in the tech giant’s 27-year history, marking a stunning victory for a bootstrapped effort led by a fired employee. In a closely watched election, workers at a Staten Island, New York,
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By Chris Isidore, CNN Business A House committee will investigate how Amazon treats its workers, following the death of six employees in December when the distribution center they were working in was struck by a tornado. The House Oversight Committee sent a letter to Amazon CEO Andy Jassy Thursday demanding documents about company practices. It
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