Silicon Valley Bank has a new owner. What it means for the bank crisis
By Mark Thompson, Liz Enochs and Chris Isidore, CNN In a milestone moment for the banking crisis, a company has purchased most of what’s left…
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IMF chief warns of ‘risks’ to global financial stability, but China showing signs of recovery
By Michelle Toh, CNN The head of the International Monetary Fund called for greater vigilance over the global financial system during a speech in…
Continue ReadingAmtrak begins to restore service after server issues force cancellations
By Lauren Koenig and Ramishah Maruf, CNN Amtrak is restoring service after a slew of train cancellations, primarily in the Midwest due to “a…
Continue ReadingGrime, dirt, stink and funk: Tween boys are skin care’s hottest market
By Parija Kavilanz, CNN Check the aisles at Walmart, Target or your neighborhood drug store and you’ll find them chock full of scented,…
Continue ReadingWhy almost everyone failed to predict Silicon Valley Bank’s collapse
By Allison Morrow, CNN Two weeks ago, few people outside the tech industry had even heard of Silicon Valley Bank, the midsize California lender whose…
Continue ReadingFirst came bank failures. Now come the hearings
Krystal Hur, CNN Federal regulators are being called to testify before the Senate Banking Committee on Tuesday and the House Financial Services…
Continue ReadingFrom 20 dollars in his pocket to a dumpling empire: Din Tai Fung founder dies, age 96
By Heather Chen, CNN The founder of one of the world’s biggest dumpling empires has died. Yang Bing-yi, who set up the Taiwanese restaurant…
Continue ReadingThe three-day LA school strike is over. But get used to short, disruptive strikes like it
By Chris Isidore, CNN The Los Angeles school strike that kept about a half-million students out of classrooms for three days this past week has…
Continue ReadingSmall US banks see record drop in deposits after SVB collapse
Reuters Deposits at small US banks dropped by a record amount following the collapse of Silicon Valley Bank on March 10, data released on Friday by…
Continue ReadingBanks aren’t out of the woods yet and neither is the economy. Here’s why
By Krystal Hur, CNN Markets seesawed severely this week when two of the US economy’s most prominent leaders gave seemingly contradictory…
Continue ReadingThe Girl Scout cookie crumbled this year. Here’s what happened
By Danielle Wiener-Bronner, CNN For decades, Girl Scouts has used cookie sales to raise funds and teach scouts about entrepreneurship. This year,…
Continue ReadingCustomers now face a radically different tipping culture compared to a few years ago
By Nathaniel Meyersohn, CNN More stores now offer customers the option to tip, from coffee shops to ice cream stores. Around 48% of purchases at fast…
Continue ReadingAfter TikTok chief’s grilling in Washington, Apple’s Tim Cook is all smiles in Beijing
By Kathleen Magramo and Jake Kwon, CNN Apple CEO Tim Cook gave a show of support for China as a market and manufacturing base during a visit to…
Continue ReadingWhat to do with your credit card debt now that the Fed raised rates again
By Jeanne Sahadi, CNN The Federal Reserve on Wednesday raised its key interest rate for the ninth time since last March. Each time the Fed raises the…
Continue ReadingAirfares across Asia are sky-high this year. Here’s why
By Michelle Toh, CNN Travelers across Asia Pacific will likely continue to fork out more than usual for flights this year, even as planes return to…
Continue ReadingThe French are up in arms over retiring at 64. How do other countries compare?
By Hanna Ziady and Olesya Dmitracova, CNN A nationwide strike in France to protest a rise in the retirement age drew more than a million people onto…
Continue ReadingFed official: People ‘hate’ inflation. That trumps bank stress and job loss
By Matt Egan, CNN The Federal Reserve faced a particularly vexing decision this week: Should it raise interest rates during a bank crisis? For Tom…
Continue ReadingWhat the banking crisis means for your job
By Alicia Wallace, CNN One of the biggest unknowns since the Federal Reserve started its historic rate-hiking campaign has been how many jobs could…
Continue ReadingWhat the banking crisis means for your job
By Alicia Wallace, CNN One of the biggest unknowns since the Federal Reserve started its historic rate-hiking campaign has been how many jobs could…
Continue ReadingEU was set to ban internal combustion engine cars. Then Germany suddenly changed its mind
By Ivana Kottasová, CNN When EU lawmakers voted to ban the sale of new combustion engine cars in the bloc by 2035, it was a landmark victory for…
Continue ReadingWhat the banking crisis means for mortgage rates
By Anna Bahney, CNN Mortgage rates have taken would-be buyers on a ride this year — and it’s only March. Generally, home buyers can…
Continue ReadingAmericans are going all-in on cash. That could spell more trouble
By Nicole Goodkind, CNN In the wake of Silicon Valley Bank’s collapse and subsequent banking meltdown, cash is king. The turmoil inflicted on…
Continue ReadingDeutsche Bank, UBS stocks sink as fear of European banking crisis returns
By Anna Cooban, CNN Europe’s banking stocks tumbled Friday as investors acted on their lingering worries that the recent crises at some banks…
Continue ReadingIndia’s parliament strips Rahul Gandhi of lawmaker status after defamation conviction
By Manveena Suri and Rhea Mogul, CNN The former leader of India’s main opposition political party has been disqualified as a lawmaker, a day…
Continue ReadingChinese authorities close Beijing offices of US Mintz Group detaining five local staff
By Sandi Sidhu and Chris Lau, CNN Chinese authorities have closed the Beijing office of Mintz Group, an American corporate due diligence firm, and…
Continue ReadingRussia can’t meet India arms deliveries due to Ukraine war, Indian Air Force says
By Rhea Mogul, CNN Russia is unable to honor its arms delivery commitments to India because of the war in Ukraine, the Indian Air Force (IAF) said,…
Continue ReadingUnions at Disney World win 37% pay hikes in tentative labor deal
By Chris Isidore and Vanessa Yurkevich, CNN About 32,000 hourly workers at Disney World will get raises equal to $3 an hour by the end of the year,…
Continue ReadingMan targeted by January 6 conspiracists demands retraction from Fox News and Tucker Carlson over ‘lies’
By Oliver Darcy and Marshall Cohen, CNN An attorney for Ray Epps, the Arizona man that January 6 conspiracy theorists falsely claim led an FBI plot…
Continue ReadingShort-seller Hindenburg targets Jack Dorsey’s Block
By Nicole Goodkind, CNN Shares of Block, the company behind Cash App, plunged by 20% Thursday morning after the release of a searing report from…
Continue ReadingGood news for homebuyers. Mortgage rates just dropped again
By Anna Bahney, CNN Mortgage rates dropped again this week for the second week in a row amid lingering concerns about bank failures and uncertainty…
Continue ReadingAccenture slashes 19,000 jobs worldwide
By Anna Cooban, CNN Accenture plans to slash 19,000 jobs worldwide as it attempts to cut costs amid a gloomy economic picture. The Irish-American…
Continue ReadingGM to stop making Chevy Camaro, leaving muscle car’s future uncertain
By Peter Valdes-Dapena, CNN General Motors announced Wednesday that it’s ending production of the latest generation of the Chevrolet Camaro,…
Continue ReadingSpotify removes Bollywood song catalog in licensing dispute
By Anna Cooban Bollywood fans have been left without access to hundreds of their favorite tunes on Spotify because of a licensing dispute. Spotify…
Continue ReadingStartup’s 3D-printed rocket delivers stunning night launch but fails to reach orbit
By Jackie Wattles, CNN Startup Relativity Space sent what it’s calling the “world’s first 3D-printed rocket” toward space on…
Continue ReadingNew home sales rose for the third month in a row
By Anna Bahney, CNN New home sales rose in February, climbing for the third month in a row as mortgage rates eased off their highs of the past year…
Continue ReadingNew Starbucks CEO plans to pull barista shifts in stores every month
By Danielle Wiener-Bronner, CNN Starbucks’ new CEO Laxman Narasimhan teased his plan for the company in a letter to employees. It includes…
Continue ReadingFord to lose $3 billion from EV sales to consumers this year
By Chris Isidore, CNN Ford said it will lose $3 billion on its sales of electric vehicles to consumers this year, but it still expects to hit the…
Continue ReadingFive big takeaways from the Fed’s extraordinary meeting
By Nicole Goodkind, CNN The Federal Reserve raised interest rates by a quarter percentage point on Wednesday as it attempts to fight stubbornly high…
Continue ReadingFive big takeaways from the Fed’s extraordinary meeting
By Nicole Goodkind, CNN The Federal Reserve raised interest rates by a quarter percentage point on Wednesday as it attempts to fight stubbornly high…
Continue ReadingBank of England hikes interest rates again following inflation shock
By Hanna Ziady, CNN The Bank of England hiked interest rates by a quarter of a percentage point Thursday, extending its long-running fight to rein in…
Continue ReadingSwiss central bank says crisis halted as it hikes interest rates
By Mark Thompson, CNN Switzerland’s banking crisis has been halted, the country’s central bank said Thursday as it hiked interest rates…
Continue ReadingFrench airports, schools and oil refineries hit by national strike over pension age increase
By Dalal Mawad, Aurore Laborie, Oliver Briscoe and Joshua Berlinger, CNN French transport networks, oil refineries and schools were hit by widespread…
Continue ReadingEvergrande Group announces long-awaited debt restructuring deal after 2021 collapse
By Laura He, CNN China’s Evergrande Group, whose collapse in 2021 sparked China’s worst property market crisis on record, has unveiled a…
Continue ReadingEvergrande Group announces long-awaited debt restructuring deal after 2021 collapse
By Laura He, CNN China’s Evergrande Group, whose collapse in 2021 sparked China’s worst property market crisis on record, has unveiled a…
Continue ReadingFed official: People ‘hate’ inflation. That trumps bank stress and job loss
By Matt Egan, CNN The Federal Reserve faced a particularly vexing decision this week: Should it raise interest rates during a bank crisis? For Tom…
Continue ReadingGlobal markets mixed after US Fed raises rates by a quarter-point
By Juliana Liu and Anna Cooban, CNN European and Asian markets were mixed during Thursday trade as investors digested the decision by the US Federal…
Continue ReadingStartup’s 3D-printed rocket delivers stunning night launch but fails to reach orbit
By Jackie Wattles, CNN Startup Relativity Space sent what it’s calling the “world’s first 3D-printed rocket” toward space on…
Continue ReadingHow TikTok’s CEO prepared for his first grilling on Capitol Hill
By Oliver Darcy, CNN Shou Zi Chew is getting ready for his inaugural trip to Congress. The TikTok chief executive has, for the last week,…
Continue ReadingHow TikTok’s CEO prepared for his first grilling on Capitol Hill
By Oliver Darcy, CNN Shou Zi Chew is getting ready for his inaugural trip to Congress. The TikTok chief executive has, for the last week,…
Continue ReadingThe Fed’s favorite inflation measure cooled in February
By Alicia Wallace, CNN The Federal Reserve’s preferred inflation gauge cooled back down in February after ticking up unexpectedly the month…
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