Money

By Bryan Mena, CNN Washington (CNN) — Mortgage rates topped 7% this week, a key psychological threshold, in a sign of the US housing market’s unrelenting affordability challenges. The average rate on a standard, 30-year fixed mortgage was 7.04% in the week ending January 16, according to a survey of lenders released Thursday by Freddie

CNN By Bryan Mena, CNN Washington (CNN) — Mortgage rates topped 7% this week, a key psychological threshold, in a sign of the US housing market’s unrelenting affordability challenges. The average rate on a standard, 30-year fixed mortgage was 7.04% in the week ending January 16, according to a survey of lenders released Thursday by

By Tami Luhby, CNN (CNN) — In its first financial results since its insurance unit CEO was fatally shot in New York City, UnitedHealth Group reported Thursday weaker-than-expected fourth-quarter revenue, prompting its shares to fall in early morning trading despite quarterly profit beating projections. Andrew Witty, UnitedHealth Group’s CEO, defended the company’s commitment to its

By Anna Cooban, CNN London (CNN) — BP is planning to cut more than 5% of its 90,000-strong workforce as part of a cost-cutting drive. The British oil giant told employees in a memo Thursday that it would slash around 4,700 jobs this year. The company also said it was cutting 3,000 contractor roles and

By Brian Stelter, CNN New York (CNN) — The outgoing Democratic chair of the Federal Communications Commission is taking bold action on the way out the door, rejecting what she described as four efforts to weaponize the government’s TV licensing authority for political purposes. Activists on both the right and left may be disappointed. But

By Jeanne Sahadi, CNN (CNN) — In the next few months, most Americans will be focused on getting their tax documents together to complete their 2024 returns. But for anyone who buys and sells digital assets like bitcoin, it is worth knowing that 2025 will mark the first tax year that your crypto transactions will

By Clare Duffy, CNN New York (CNN) — TikTok is still three days away from a likely ban in the United States, but many users are already bidding the app farewell and seeking out alternatives. Influencer Jasmine Chiswell posted a video Tuesday, showing her frowning over text that reads: “Me saying goodbye to 18 million

By David Goldman, Kaitlan Collins and Kayla Tausche, CNN (CNN) — President-elect Donald Trump is weighing a plan that could delay America’s TikTok ban, giving the new administration more time to potentially cut a deal with a US buyer to save the super-popular video app, sources familiar with the plans told CNN. The potential executive

By Liam Reilly, CNN New York (CNN) — Prominent right-wing media personalities are calling on the federal government to withhold or place conditions on aid for victims of the devastating Los Angeles wildfires, blaming California’s own policies for the scale of the devastation and response. As firefighters slowly gain control of the wildfires raging near

By Brian Stelter, CNN New York (CNN) — A recent exodus of talent from The Washington Post has prompted more than 400 of its staffers to send an unusual letter to the Post’s owner, Jeff Bezos, expressing alarm over the newspaper’s direction and asking him to intervene. The employees, including some of the Post’s best-known

By Chris Isidore, CNN New York (CNN) — More than $100 million has been raised for California wildfire victims on GoFundMe so far. But some of those fundraising efforts could actually end up limiting the money that would be available through the Federal Emergency Management Agency. FEMA can provide financial assistance for those who lost

By John Towfighi, CNN New York (CNN) — US stocks surged higher Wednesday after an encouraging inflation report and blockbuster profits for some of America’s biggest banks. The Dow surged 703 points, or 1.65%, to close at 43,222. The S&P 500 rose 1.83% and the tech-heavy Nasdaq Composite ended the day higher by 2.45%. The

By Alicia Wallace, CNN (CNN) — Recently, progress on inflation appeared to be stuck or, at worst, reversing: A closely watched gauge of underlying price hikes — an index that excludes highly volatile categories — hadn’t budged for months. On Wednesday, it got unstuck. The closely watched core measurement of the Consumer Price Index slowed

By Jeanne Sahadi, CNN (CNN) — If keeping up with tax changes in the law were a sport, 2017 and 2025 might be considered the Tax Olympics. Recall that during the first year of President-elect Donald Trump’s first term, lawmakers defied the odds and passed the largest overhaul of the tax code in more than

By Jordan Valinsky, CNN New York (CNN) — Joann, the fabrics and crafts retailer, has filed for bankruptcy for a second time within a year and announced that it’s seeking a sale. The 82-year-old retailer said in statement Wednesday that sluggish sales and inventory issues forced Joann to file for Chapter 11 again. Joann first

By Hanna Ziady, CNN London (CNN) — Germany’s economy, the largest in Europe, contracted for the second year in a row in 2024, official data showed Wednesday, underscoring the challenges facing the region as it tries to get economic growth back on track. Germany’s gross domestic product fell 0.2% last year, according to the country’s

By Jordan Valinsky, CNN New York (CNN) — There’s no better example of having a case of Mondays than the day after the Super Bowl. Coors Light announced Wednesday that it’s temporarily changing its name to “Mondays Light” in an attempt to “bring chill to one of the worst Mondays of the year” by selling