Money Archives

Berkshire Hathaway earnings fall 8% in fourth quarter but rise 12% for full year

February 25, 2023 8:52 am CNN Newsource

By Ramishah Maruf, CNN Berkshire Hathaway’s operating earnings fell during the fourth quarter of 2022, as inflation pressures and high interest…

An estimated 23 million Americans are living with post-acute sequelae SARS-CoV-2 infection.

Long Covid disabled them. Then they met a ‘broken’ Social Security disability process

February 25, 2023 6:18 am CNN Newsource

By Morgan Stephens, CNN Pushing through cognitive impairment, migraines and severe fatigue, Michaelene Carlton, 49, mustered up the energy last week…

A restaurant stands empty and closed in Brooklyn

Covid shrank the restaurant industry. That’s not changing anytime soon

February 25, 2023 2:02 am CNN Newsource

By Danielle Wiener-Bronner, CNN It’s never been easy to operate a restaurant, and in recent years it’s been even harder. In 2020, Covid…

New home sales rose in January from December. Pictured is a construction worker working on a new home in Foley

New home sales rise as prices drop in January

February 24, 2023 9:14 am CNN Newsource

By Anna Bahney, CNN New home sales rose in January from December, as mortgage rates eased off their highs of the past year at the start of 2023.…

Boeing is forced to halt 787 Dreamliner deliveries once again. The jets in question are here under production at the Boeing manufacturing facility in North Charleston

Boeing forced to halt 787 Dreamliner deliveries once again

February 24, 2023 8:12 am CNN Newsource

By Chris Isidore, CNN Boeing has been forced to halt deliveries of the 787 Dreamliner once again, just months after it resumed deliveries to…

Empty fruit and vegetable shelves at an Asda in east London on February 21. A shortage of tomatoes affecting UK supermarkets is widening to other fruit and vegetables and is likely to last weeks

The UK’s fruit and vegetable shortage could last at least until May

February 24, 2023 7:38 am CNN Newsource

By Anna Cooban, CNN A shortage of some fruits and vegetables in the United Kingdom that has prompted rationing at most major supermarkets could last…

Inflation surprisingly rose in January. Packages of beef are displayed for sale at a supermarket on January 12

Inflation surprisingly rose in January, according to the Fed’s preferred gauge

February 24, 2023 6:00 am CNN Newsource

By Alicia Wallace, CNN The Federal Reserve’s preferred inflation gauge heated up unexpectedly in January, as did consumer spending, showing the…

How the Supreme Court could reshape the internet as you know it

February 24, 2023 5:56 am CNN Newsource

By Brian Fung, CNN Justice Samuel Alito of the US Supreme Court asked this week what may be, to millions of average internet users, the most…

Air fryer recall: 2 million Cosori air fryers recalled because of fire hazard

February 24, 2023 5:24 am CNN Newsource

By Jordan Valinsky, CNN Business Roughly 2 million Cosori air fryers have been recalled because they pose a possible fire risk. The US Consumer…

Thomas H. Lee, pioneer of leveraged buyouts, is dead at 78

February 24, 2023 4:56 am CNN Newsource

By Chris Isidore, CNN Business Thomas H. Lee, a private equity financier who pioneered the use of leveraged buyouts that helped to reshape corporate…

Consumers keep spending. That might not be good news for them or the Fed

February 24, 2023 4:30 am CNN

By Alicia Wallace, CNN US consumers kept spending last year despite historically high inflation, not only shelling out for necessities but also…

Prices are still rising at a pace well above the Fed's 2% goal and the public is becoming increasingly weary. Pictured are grocery shoppers at a store in Washington

Why today’s inflation report is so important

February 24, 2023 4:30 am CNN Newsource

By Nicole Goodkind, CNN Federal Reserve policy is based on trust. The central bank’s ability to maintain stable prices depends on the…

The National Advertising Divisionhas determined that Molson Coors went too far with a recent ad that compares rivals' light beer to water. Pictured is the Molson Coors Brewing Co. campus in Milwaukee

Molson Coors’ funny ad went too far, regulator says

February 24, 2023 4:25 am CNN Newsource

By Jordan Valinsky, CNN Business Beer ads try to be funny, but a regulatory group has determined that Molson Coors went too far with a recent ad that…

Regal Cinemas owner Cineworld said Friday that it expected shareholders to be wiped out entirely.

Regal Cinemas owner Cineworld says shareholders will be wiped out

February 24, 2023 4:08 am CNN Newsource

By Olesya Dmitracova, CNN Regal Cinemas owner Cineworld, which filed for Chapter 11 bankruptcy protection last year, said Friday that it expected…

Bharatiya Janata Party supporters protest against Congress leader Pawan Khera for allegedly insulting Prime Minister Narendra Modi in New Delhi

India’s opposition vows to keep ‘raising questions about Adani group’ after spokesperson arrested

February 23, 2023 10:28 pm CNN Newsource

By Rhea Mogul and Manveena Suri, CNN When dozens of security personnel crowded onto the runway of New Delhi’s Indira Gandhi Airport on…

Washington Post: Bezos hires investment firm to explore possibility of NFL team bid

February 23, 2023 8:25 pm CNN Newsource

By Dave Alsup, CNN Amazon founder Jeff Bezos hired an investment firm to research a possible bid for the NFL Washington Commanders team, two people…

Car vending machine of Carvana is prepared for the opening in Denver

Carvana’s losses widen as the used-car market stalls

February 23, 2023 5:26 pm CNN Newsource

By Peter Valdes-Dapena, CNN Last year was a wreck for Carvana, the online used-car seller known for its tall glass “car vending…

401(k) participants managed to keep their savings rates relatively steady in the fourth quarter of last year.

401(k) balances rise, despite economic and market challenges

February 23, 2023 11:18 am CNN Newsource

By Jeanne Sahadi, CNN Business Despite higher prices, endless talk of a possible recession and falling markets, 401(k) participants managed to keep…

Ozy Media founder Carlos Watson arrested and charged with fraud

February 23, 2023 10:33 am CNN Newsource

By Oliver Darcy, CNN Business Carlos Watson, the founder and chief executive of the embattled Ozy Media, was arrested and charged with fraud this…

Members of the Indo-Tibetan Border Police (ITBP) stand guard outside a building housing BBC offices

BBC won’t be ‘put off’ covering India by tax raids and censorship

February 23, 2023 10:23 am CNN Newsource

By Hanna Ziady, CNN The BBC says it will not be “put off” from reporting in India after the government prevented a documentary critical…

Mortgage rates rose for the third-straight week. Homes in a subdivision in Atlanta

US mortgage rates rise for the third week in a row

February 23, 2023 9:01 am CNN Newsource

By Anna Bahney, CNN Mortgage rates shot up for the third-straight week, as inflation concerns make rates more volatile. The 30-year fixed-rate…

Domino's said its delivery business struggled last year.

Domino’s stock tumbles 11% as delivery problems persist

February 23, 2023 8:59 am CNN Newsource

By Danielle Wiener-Bronner, CNN Domino’s delivery problems aren’t over. In the last quarter of 2022 sales at locations open at least a…

Biden nominates former MasterCard exec Ajay Banga to lead World Bank

February 23, 2023 8:24 am CNN Newsource

By Jordan Valinsky, CNN President Joe Biden has announced that he’s nominating Ajay Banga, a former MasterCard executive, to serve as president…

FTX founder Sam Bankman-Fried indicted on new criminal charges, including campaign finance violations

February 23, 2023 6:51 am CNN Newsource

By Kara Scannell, Lauren del Valle and Fredreka Schouten, CNN Federal prosecutors announced four new criminal charges against Sam Bankman-Fried, the…

Millions of gift cards go unused each year and they have a collective value estimated to be in the billions of dollars.

Americans have a collective $21 billion in unspent gift cards

February 23, 2023 6:48 am CNN Newsource

By Parija Kavilanz, CNN Some people love them, some people hate them. Worse, a large number of us who receive them on special occasions are…

Shoppers in the SoHo neighborhood of New York

The US economy grew less in fourth quarter than previously believed

February 23, 2023 6:20 am CNN Newsource

By Chris Isidore and Alicia Wallace, CNN The US economy grew at a 2.7% annual rate in the final three months of the year, the Commerce Department…

Traders work on the floor of the New York Stock Exchange on Wednesday

It’s market bulls vs. Fed hawks on Wall Street

February 23, 2023 4:44 am CNN Newsource

By Nicole Goodkind, CNN There’s a new tussle brewing in the animal kingdom of Wall Street: Hawks vs. Bulls. Policymakers at the Federal Reserve…

China has been buying more energy from Russia since the Ukraine war started.

China is helping to prop up the Russian economy. Here’s how

February 22, 2023 7:08 pm CNN

By Laura He, CNN In the year since the Russian invasion of Ukraine, Moscow has been hit by unprecedented Western sanctions and shut out of much of…

China is helping to prop up the Russian economy. Here’s how

February 22, 2023 7:08 pm CNN Newsource

By Laura He, CNN In the year since the Russian invasion of Ukraine, Moscow has been hit by unprecedented Western sanctions and shut out of much of…

China is helping to prop up the Russian economy. Here’s how

February 22, 2023 7:08 pm CNN

By Laura He, CNN In the year since the Russian invasion of Ukraine, Moscow has been hit by unprecedented Western sanctions and shut out of much of…

China is helping to prop up the Russian economy. Here’s how

February 22, 2023 7:08 pm CNN

By Laura He, CNN In the year since the Russian invasion of Ukraine, Moscow has been hit by unprecedented Western sanctions and shut out of much of…

A Norfolk Southern freight train passes through East Palestine

Norfolk Southern, in wake of toxic derailment, gives in on sick days for one of its unions

February 22, 2023 5:05 pm CNN Newsource

By Chris Isidore, CNN Norfolk Southern has agreed to give one of its unions the paid sick days it demanded for members in negotiations last year, and…

FDA fines e-cigarette makers for selling products illegally in ‘wakeup call’ to tobacco manufacturers

February 22, 2023 1:14 pm CNN Newsource

By Jen Christensen, CNN The US Food and Drug Administration announced Wednesday that it has filed complaints against four makers of e-cigarette…

Companies can no longer silence laid-off employees in exchange for severance

February 22, 2023 1:56 pm CNN Newsource

By Jeanne Sahadi, CNN If your company lays you off, your employer might offer you severance pay — but only if you agree to adhere to a number of…

A cyberattack earlier this month forced produce giant Dole to temporarily shut down production plants in North America and halt food shipments to grocery stores

Cyberattack on food giant Dole temporarily shuts down North America production, company memo says

February 22, 2023 1:20 pm CNN Newsource

By Sean Lyngaas, CNN A cyberattack earlier this month forced produce giant Dole to temporarily shut down production plants in North America and halt…

Biden admin cuts some mortgage fees amid housing affordability crisis

February 22, 2023 11:36 am CNN Newsource

By Anna Bahney, CNN The Biden administration announced Wednesday a change that will save an estimated 850,000 home buyers — primarily low- and…

Angry Birds will be one of the applications available in the new Mercedes-Benz E-class.

New from the Mercedes’ 2024 E-class: Angry Birds

February 22, 2023 11:14 am CNN

By Peter Valdes-Dapena, CNN Business For those who have ever felt the urge to whip off a TikTok video from inside their car, Mercedes-Benz owners…

New from the Mercedes’ 2024 E-class: Angry Birds

February 22, 2023 11:14 am CNN Newsource

By Peter Valdes-Dapena, CNN Business For those who have ever felt the urge to whip off a TikTok video from inside their car, Mercedes-Benz owners…

National Public Radio will lay off 10% of its staff. The public broadcaster's headquarters in Washington are pictured here in this file image from 2013.

NPR to cut 10% of its staff in “a major loss” for the public radio network, CEO says

February 22, 2023 11:04 am CNN Newsource

By Jon Passantino National Public Radio will lay off 10% of its staff after projecting a $30 million budget shortfall, NPR’s chief executive…

Workers continue to clean up remaining tank cars

Norfolk Southern is paying $6.5 million to derailment victims. Meanwhile, it’s shelling out $7.5 billion for shareholders

February 22, 2023 10:16 am CNN

By Chris Isidore, CNN Norfolk Southern CEO Alan Shaw pledged Tuesday the freight railroad will spend $6.5 million to help those affected by the…

Norfolk Southern is paying $6.5 million to derailment victims. Meanwhile, it’s shelling out $7.5 billion for shareholders

February 22, 2023 10:16 am CNN Newsource

By Chris Isidore, CNN Norfolk Southern CEO Alan Shaw pledged Tuesday the freight railroad will spend $6.5 million to help those affected by the…

Why UK supermarkets are rationing fruit and vegetables

February 22, 2023 9:15 am CNN Newsource

By Anna Cooban, CNN Major UK supermarkets have started rationing the sale of some staple fruits and salad vegetables, blaming poor weather in Spain…

Big Retail’s cautious forecasts are spooking Wall Street

February 22, 2023 4:23 am CNN Newsource

By Nicole Goodkind, CNN Forecasts from Walmart and Home Depot made for a grim day of trading on Tuesday. The mega retailers’ predictions of a…

Killer guru’s temporary release from prison sparks anger in India. And it’s not the first time

February 22, 2023 1:24 am CNN Newsource

By Manveena Suri and Rhea Mogul, CNN A convicted killer and rapist revered by millions as a religious guru has temporarily walked free from jail in…

Officials expect Hong Kong's economy to grow between 3.5% and 5.5% this year. People here walk on a street in Causeway Bay on January 2

Hong Kong’s financial secretary expects city’s economy to grow between 3.5% and 5.5%

February 21, 2023 11:36 pm CNN Newsource

By Laura He, CNN Hong Kong’s Covid-hit economy will return to growth this year and expand by between 3.5% and 5.5%, as the city opens up and…

Travelers look at an information board showing flight cancellations and delays at Reagan National Airport in December 2022. The Department of Transportation's internal watchdog said on February 21 it is launching a probe into the spike in flight cancellations and delays.

Department of Transportation watchdog to investigate flight cancellations and delays

February 21, 2023 4:29 pm CNN Newsource

By Ross Levitt, CNN The Department of Transportation’s internal watchdog said Tuesday it is launching a probe into the spike in flight…

Starbucks’ new drinks have a spoonful of olive oil in every cup

February 21, 2023 3:25 pm CNN

By Danielle Wiener-Bronner, CNN Business Starbucks wants you to give olive oil coffee a shot. Really. The coffee chain is rolling out a new line of…

Norfolk Southern President and CEO Alan Shaw speaks to reporters on February 21 near the site where a freight train derailed on February 3 in East Palestine

Norfolk Southern CEO defends railroad’s response to Ohio derailment

February 21, 2023 3:01 pm CNN Newsource

By Artemis Moshtaghian, Linh Tran, Yon Pomrenze and Chris Isidore, CNN Norfolk Southern CEO Alan Shaw defended his company’s actions since the…

Former FTX chief executive Samuel Bankman-Fried is seen here in New York City on February 9. Lawyers for Bankman-Fried agreed to pay for a security expert to help the federal judge overseeing his fraud case navigate technology issues.

Bankman-Fried lawyers say they will pay for technical expert to aid judge on bail terms

February 21, 2023 2:03 pm CNN Newsource

by Kara Scannell, CNN Lawyers for Sam Bankman-Fried agreed to pay for a security expert to help the federal judge overseeing his fraud case navigate…

Starbucks’ new drinks have a spoonful of olive oil in every cup

February 21, 2023 1:07 pm CNN Newsource

By Danielle Wiener-Bronner, CNN Business Starbucks wants you to give olive oil coffee a shot. Really. The coffee chain is rolling out a new line of…

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