Money Archives

Uber CEO Dara Khosrowshahi addresses the audience during the keynote at the start of an Uber products launch in San Francisco in September of 2019.

Uber wants its future to have three-wheeled cars, face-to-face seats

January 19, 2023 11:59 am CNN Newsource

By Peter Valdes-Dapena, CNN Business Uber drivers don’t always need four wheels, front-facing passenger seats and top speeds over 50 miles an…

Mortgage rates fell this week as economic data showed inflation is fading. Pictured is a housing development in Aurora

Mortgage rates fall to levels last seen in September

January 19, 2023 9:24 am CNN Newsource

By Anna Bahney, CNN Mortgage rates fell this week as economic data showed inflation is fading. The 30-year fixed-rate mortgage averaged 6.15% in the…

Investors hope the the debt ceiling crisis will prompt the government to cut interest rates and provide more stimulus that can help boost corporate profits...and stock prices.

Bad news for the economy is now bad news on Wall Street

January 19, 2023 8:10 am CNN Newsource

By Paul R. La Monica, CNN The market is bracing for a perfect storm of bad news. The latest worry? The impending debt ceiling drama in Washington.…

Resale value of Gucci, Chanel, Louis Vuitton handbags is falling

January 19, 2023 6:26 am CNN Newsource

By Parija Kavilanz, CNN Consumers, spooked by accelerating job cuts, looming recession fears and continuing high prices for goods and services in…

New home construction in the US fell in December

January 19, 2023 6:03 am CNN Newsource

By Anna Bahney, CNN US home building fell in December, as the housing market continued to slow. December housing starts, a measure of new home…

US jobless claims unexpectedly fell to 190

Jobless claims drop to 190,000 as labor market remains tight

January 19, 2023 5:39 am CNN Newsource

By Alicia Wallace, CNN The number of first-time claims for unemployment insurance fell unexpectedly to 190,000 for the week ending January 14,…

Americans can once again buy cars for less than sticker price. Pictured is a dealership showroom in Highlands Ranch

Most new car buyers are now paying less than sticker price

January 19, 2023 5:28 am CNN Newsource

By Chris Isidore, CNN Americans can once again buy cars for less than sticker price. But that doesn’t mean they’re finding bargains at…

Most new car buyers are now paying less than sticker price

January 19, 2023 5:28 am CNN

By Chris Isidore, CNN Americans can once again buy cars for less than sticker price. But that doesn’t mean they’re finding bargains at…

Taco Bell is bringing back a fan-favorite menu item

January 19, 2023 5:00 am CNN Newsource

By Jordan Valinsky, CNN Taco Bell is bringing back a fan-favorite menu item, but you have to act fast. Crispy chicken wings are back for a limited…

The US government is set to hit its self-imposed borrowing limit today and both Wall Street and Washington are hoping for a resolution — but preparing for the worst.

How investors are preparing for a debt ceiling standoff

January 19, 2023 4:55 am CNN Newsource

By Nicole Goodkind, CNN Business The US government is set to hit its self-imposed borrowing limit today and both Wall Street and Washington are…

Bud Light and Budweiser are getting a makeover at this year's Super Bowl. A fan holds up a can of Bud Light during a game on October 6

Bud Light and Budweiser are getting a makeovers at this year’s Super Bowl

January 19, 2023 4:05 am CNN Newsource

By Jordan Valinsky, CNN Anheuser-Busch may no longer be the only alcohol brand to advertise at the Super Bowl, but it will still have a major…

Invest India is promoting Asia's third-biggest economy at the World Economic Forum in Davos

India flexes its muscle at Davos as China’s star fades

January 19, 2023 3:56 am CNN Newsource

By Julia Horowitz, CNN The promenade at the World Economic Forum, dusted in a blanket of fresh snow, is cluttered with signs and pavilions from…

Train tracks lie empty at Gare de l'Est railway station in Paris as France is hit by widespread traffic disruption amid a nationwide strike against proposed pension reforms.

Striking French workers lead 1 million people in protest over plans to raise retirement age

January 19, 2023 2:47 am CNN Newsource

By Joseph Ataman, Marguerite Lacroix and Hanna Ziady, CNN Strikes disrupted train services, flights, schools and businesses in France on Thursday as…

Marvel movies are returning to China after almost four years

January 19, 2023 12:04 am CNN Newsource

By Michelle Toh, CNN China has reopened its doors to Disney’s Marvel Studios for the first time in almost four years, with two new film…

Darwin is the smallest and the most northern Australian capital city.

Billionaires once united in visionary project now feuding over claims of ‘inexperienced management’

January 18, 2023 8:25 pm CNN Newsource

By Hilary Whiteman, CNN A dispute between two billionaires once united in a visionary project to send power from Australia to Singapore through the…

Grounded Delta Airlines planes are parked at gates at John F. Kennedy International Airport on January 11 in New York.

Human error more likely in JFK near collision after alert system failure ruled out

January 18, 2023 3:32 pm CNN Newsource

By Pete Muntean, CNN A source familiar with the near-collision of two airliners on a John F. Kennedy International Airport runway tells CNN that…

US authorities arrested a Russian cryptocurrency executive who allegedly exchanged hundreds of millions of dollars with drug traffickers and cybercriminals.

Feds arrest Russian crypto operator on suspicion of criminal activities

January 18, 2023 9:29 am CNN Newsource

By Sean Lyngaas, CNN US authorities arrested a Russian cryptocurrency executive who allegedly oversaw the exchange of hundreds of millions of dollars…

Wall Street’s biggest WFH advocate is bringing underperforming staff back into the office

January 18, 2023 8:50 am CNN Newsource

By Allison Morrow, CNN When Jane Fraser became CEO of Citigroup nearly two years ago, in the middle of the pandemic, she established the kind of…

US home builder confidence has improved in January. Pictured is a home construction site in Trappe

Home builder confidence rises for the first time in a year

January 18, 2023 8:40 am CNN Newsource

By Anna Bahney, CNN A modest drop in mortgage rates over the past month has helped home builder confidence improve in January, after 12 consecutive…

US retail sales continued their fall in December.

Retail sales continued to fall in December as shoppers battled inflation

January 18, 2023 6:33 am CNN Newsource

By Alicia Wallace, CNN It was a ho-hum end to 2022 for spending in America. US retail sales continued their fall in December, dropping by 1.1% as…

Southwest Airlines travelers wait in line in a baggage holding area at Denver International Airport on December 28

Southwest pilots union cites Christmas meltdown in call for a strike vote

January 18, 2023 7:43 am CNN Newsource

By Greg Wallace The union representing Southwest Airlines pilots is taking early steps toward a possible strike, citing the airline’s Christmas…

Egypt's economic situation is so dire that the government is asking people to eat chicken feet. A man walks past chicken for sale at a shop in Cairo

Why Egypt is asking its people to eat chicken feet

January 18, 2023 7:34 am CNN Newsource

By Nadeen Ebrahim, CNN Egypt’s economic situation is so dire that the government is asking people to eat chicken feet. The Arab world’s…

Party City filed for bankruptcy protection Tuesday. A Party City retail store in the Queens borough of New York City is pictured here in January 2022.

America’s largest party supply store files for bankruptcy

January 18, 2023 6:23 am CNN Newsource

By Nathaniel Meyersohn, CNN Party City filed for bankruptcy protection Tuesday, weighed down by competition and years of financial losses. The…

Wholesale price growth cooled off significantly in December. An employee works on a car on the assembly line at the BMW Spartanburg plant in Greer

Wholesale prices show inflation continued to fall in December

January 18, 2023 5:33 am CNN Newsource

By Chris Isidore, CNN Wholesale price growth cooled off significantly in December, the Bureau of Labor Statistics reported Wednesday, indicating that…

The Federal Reserve is testing how climate change could hurt big banks

January 18, 2023 4:34 am CNN Newsource

By Nicole Goodkind, CNN The largest six banks in the United States have been given until July to show the Federal Reserve what effects disastrous…

Shopping carts keep disappearing from stores

January 18, 2023 4:13 am CNN

By Nathaniel Meyersohn, CNN Santa Fe, New Mexico, paid a local contractor $47,000 to round up about 3,000 shopping carts around the city in 2021 and…

Beauty products under lock and key at a Walgreens in New York City.

Stores say shoplifting is a national crisis. The numbers don’t back it up

January 18, 2023 4:13 am CNN Newsource

By Nathaniel Meyersohn, CNN The masked thief rode into a Walgreens in San Francico on a bicycle, pedaled to an aisle in the health and wellness…

Global oil demand could hit its highest-ever level this year as China reopens. Pictured is an oil and gas field in China's Aksu Prefecture on January 4.

Global oil demand could hit record high as China reopens

January 18, 2023 3:54 am CNN Newsource

By Anna Cooban, CNN Global oil demand is expected to hit its highest-ever level this year on the back of China’s swift reopening of its…

United Nations Secretary-General António Guterres addresses the World Economic Forum

‘Inconsistent with human survival’: UN chief slams fossil fuel industry expansion in Davos speech

January 18, 2023 2:32 am CNN Newsource

By Ivana Kottasová, CNN The UN Secretary General has accused fossil fuel producers and their financial backers of “racing to expand…

Macao gambling promoter Alvin Chau sentenced to 18 years – public broadcaster

January 18, 2023 2:18 am CNN Newsource

Philip Wang Alvin Chau, one of Macao’s high-profile gambling promoters, has been sentenced to 18 years in prison for racketeering and illegal…

The darkened Braamfontein district in central Johannesburg during a load shed on January 15.

South Africa’s energy crisis deepens as blackouts hit 12 hours a day

January 18, 2023 12:57 am CNN Newsource

By Hanna Ziady, CNN South Africa’s President Cyril Ramaphosa was forced this week to cancel a trip to Davos by an escalating energy crisis that…

Women living in states that restrict or ban abortion face greater economic insecurity than those living in states where they have access. Activists protest outside the Indiana Statehouse in Indianapolis

Women living in states with abortion bans suffer greater economic insecurity

January 17, 2023 9:06 pm CNN

By Vanessa Yurkevich, CNN Women living in states that restrict or ban abortion face greater economic insecurity than those living in states where…

Women living in states with abortion bans suffer greater economic insecurity

January 17, 2023 9:06 pm CNN Newsource

By Vanessa Yurkevich, CNN Women living in states that restrict or ban abortion face greater economic insecurity than those living in states where…

The yen plunged on Wednesday after the Bank of Japan decided to maintain its ultra-easy monetary policy. The Bank of Japan Governor Haruhiko Kuroda is pictured here in Tokyo

Yen falls after Bank of Japan maintains ultra-easy policy

January 17, 2023 8:22 pm CNN Newsource

By Laura He, CNN The yen plunged on Wednesday after the Bank of Japan decided to maintain its ultra-easy monetary policy, defying market expectations…

People step down the stairs inside the Davos Congress Center at the eve of the annual meeting of the World Economic Forum in Davos

What we learned at Davos: The economy is a mess, but there’s still hope

January 17, 2023 1:41 pm CNN

By Nicole Goodkind, CNN Friday marks the end of the annual World Economic Forum meeting in Davos, Switzerland, an elite gathering of some of the…

Regulators conducting interviews in JFK airport near-crash probe

January 17, 2023 1:00 pm CNN Newsource

By Pete Muntean and Gregory Wallace, CNN Investigators are probing the narrowly avoided catastrophic collision between two airliners at New…

The Tesla Model S that braked sharply and triggered an eight-car crash in San Francisco in November had the automaker's controversial driver-assist software engaged at the time

Tesla-induced pileup involved driver-assist tech, government data reveals

January 17, 2023 12:44 pm CNN Newsource

By Matt McFarland, CNN Business The Tesla Model S that braked sharply and triggered an eight-car crash in San Francisco in November had the…

Tesla reports record earnings but tighter profit margins

January 17, 2023 12:44 pm CNN

By Chris Isidore, CNN Tesla reported record profits for the fourth quarter and the full year, but its profit margins were tighter due to higher…

Ousted Disney chief executive Bob Chapek

Ousted Disney CEO Bob Chapek will get $20 million exit pay

January 17, 2023 11:48 am CNN Newsource

By Jordan Valinsky, CNN Ousted Disney chief executive Bob Chapek is set to receive a hefty paycheck following his exit. The Walt Disney Company said…

Elon Musk is being sued over his ‘funding secured’ tweet. Here’s what you need to know

January 17, 2023 10:19 am CNN Newsource

By Chris Isidore, CNN A four-year old tweet from Elon Musk has the Tesla CEO back in court starting Tuesday. Musk, Tesla and other Tesla directors…

A World Economic Forum survey found chief economists downbeat about the prospects for 2023. But executives are becoming cautiously optimistic.

No recession after all? Business leaders are more hopeful as China reopens

January 17, 2023 9:02 am CNN Newsource

By Julia Horowitz, CNN Bullishness about the global economy has been in short supply among business leaders in recent months, with fears of recession…

Americans have already started to rein in their spending

Americans are already starting to pull back on their spending, survey shows

January 17, 2023 8:51 am CNN Newsource

By Alicia Wallace, CNN Americans have already started to rein in their spending — and expect to pull back some more this year, according to a…

Europe’s ban on Russian diesel could send pump prices even higher

January 17, 2023 8:01 am CNN Newsource

By Anna Cooban, CNN Europe is scrambling to buy diesel fuel from Russia before a ban on imports comes into force in early February, but the frantic…

Goldman Sachs and Morgan Stanley both reported substantial drops in revenue and profit for the fourth quarter on Tuesday.

Goldman Sachs and Morgan Stanley both hit hard by deal drought

January 17, 2023 7:30 am CNN Newsource

By Paul R. La Monica, CNN Let’s not make a deal? Investment banking powerhouses Goldman Sachs and Morgan Stanley both reported substantial…

The Chevrolet Corvette E-Ray is the first-ever hybrid Corvette

January 17, 2023 6:11 am CNN

By Peter Valdes-Dapena, CNN Exactly 70 years after the very first Chevrolet Corvette was unveiled in January, 1953, General Motors revealed the first…

The Chevrolet Corvette E-Ray is the first-ever hybrid Corvette

January 17, 2023 6:11 am CNN Newsource

By Peter Valdes-Dapena, CNN Exactly 70 years after the very first Chevrolet Corvette was unveiled in January, 1953, General Motors revealed the first…

Rich travelers will have to pay more to fly if the aviation industry is to transition to greener fuels

The rich should pay higher fares to clean up aviation, says Heathrow boss

January 17, 2023 4:41 am CNN Newsource

By Hanna Ziady, CNN Rich travelers will have to pay more to fly if the aviation industry is to transition to greener fuels, the boss of one of the…

The world is in debt and the demand for debt keeps on increasing.

The world has a major debt problem. Is a reset coming?

January 17, 2023 4:37 am CNN Newsource

By Nicole Goodkind, CNN Business The world is in debt. A record amount of debt. Three hundred trillion dollars, to be exact. That’s the total…

The world has a major debt problem. Is a reset coming?

January 17, 2023 4:37 am CNN

By Nicole Goodkind, CNN Business The world is in debt. A record amount of debt. Three hundred trillion dollars, to be exact. That’s the total…

Publicis Group CEO Arthur Sadoun made the decision to be transparent about his cancer diagnosis with his employees

A lot of people hide their cancer diagnosis from their bosses. These companies aim to change that

January 17, 2023 4:01 am CNN Newsource

By Jeanne Sahadi, CNN After having surgery to remove a small cancerous tumor from his neck last year, Publicis Groupe CEO Arthur Sadoun decided to…

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