US worker productivity fell at the fastest rate in nearly 75 years
By Alicia Wallace, CNN Business US labor productivity tumbled by 7.5% in the first quarter of 2022 — the largest decline in worker output per…
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Mortgage rates hit highest level since 2009
By Anna Bahney, CNN Business Mortgage rates rose this week, continuing an upward trend that has pushed rates more than two percentage points higher…
Continue Reading First on CNN: Biden administration launches plan to refill emergency oil reserve
By Matt Egan, CNN Business The Biden administration plans to seek bids this fall to buy 60 million barrels of crude oil as the first step in a…
Continue Reading How to take advantage of rising interest rates
By Jeanne Sahadi, CNN Business In a bid to curb high inflation, the US Federal Reserve on Wednesday increased its key short-term interest rate by…
Continue Reading Why relief over the Federal Reserve could be short-lived
By Julia Horowitz, CNN Business When the Federal Reserve decides it’s necessary to pursue the biggest interest rate hike since 2000, you…
Continue Reading Elon Musk probably got a huge tax break when he sold off Tesla shares
By Chris Isidore, CNN Business To buy Twitter, Elon Musk just sold a ton of stock and made a boatload of money on the sale. But because of a US tax…
Continue Reading America’s job growth is starting to slow
By Anneken Tappe, CNN Business The days of millions of job gains per month are behind us and the US labor market recovery has moved into a new phase,…
Continue Reading A 13-year-old girl told the police she had been gang-raped. Then a police officer allegedly raped her
By Esha Mitra and Rhea Mogul, CNN A 13-year-old girl who was allegedly gang-raped by four men in India, was allegedly raped again by a police officer…
Continue Reading China’s economy is going backwards
By Laura He, CNN Business China’s gigantic services sector just contracted at the second sharpest pace on record as Covid lockdowns hit…
Continue Reading What the Fed rate hike means for you
By Matt Egan, CNN Business The Federal Reserve is stepping up its war on inflation. That means borrowing costs are going sharply higher for families…
Continue Reading Star Trek tries to steal May the 4th from Star Wars
By Frank Pallotta, CNN Business It’s May the 4th, a day for Star Wars nerds to geek out on Luke Skywalker, lightsabers and the Millennium…
Continue Reading Stock market selloff is exactly what the Fed wants, former NY Fed chief says
By Matt Egan, CNN Business Turmoil on Wall Street is a feature, not a bug, of the Federal Reserve’s fight against inflation, according to…
Continue Reading TurboTax to pay customers $141 million after allegedly steering them away from free services
By Jordan Valinsky, CNN Business Intuit, the owner of tax filing software TurboTax, has agreed to pay $141 million in a settlement with all 50 states…
Continue Reading Jamie Dimon: The Cold War is back and a recession is a real possibility
By Matt Egan, CNN Business JPMorgan Chase CEO Jamie Dimon said Wednesday that the Federal Reserve should have moved sooner to raise interest rates…
Continue Reading The Fed was late to inflation. Will it miss the next big risk?
By Julia Horowitz, CNN Business The Federal Reserve is finally getting aggressive in its bid to fight decades-high inflation. What’s happening:…
Continue Reading Warren Buffett-backed electric carmaker shrugs off China’s lockdowns
By Laura He, CNN Business BYD, the Warren Buffett-backed Chinese electric vehicle maker, had a bumper month in the world’s largest car market,…
Continue Reading China market analyst out after his social media accounts were frozen
By Laura He, CNN Business Hong Hao, a prominent market analyst in China, has left the state-owned bank he worked for just days after his social media…
Continue Reading Fed issues biggest rate hike in 22 years
By Anneken Tappe, CNN Business The Federal Reserve said Wednesday it is raising interest rates by a half-percentage point to get a handle on the…
Continue Reading EU proposes ban on Russian oil imports this year. Hungary says no
By Mark Thompson, CNN Business The European Union is proposing to ban all oil imports from Russia by the end of this year and remove the…
Continue Reading Didi is facing an SEC probe into its botched IPO, company says
By Laura He, CNN Business Didi says it is facing an investigation by US regulators into its botched IPO last year. The Chinese ride-hailing giant…
Continue Reading ABC News correspondent Jonathan Karl tests positive for Covid-19 after White House Correspondents Dinner
By Paul LeBlanc and Oliver Darcy, CNN ABC News’ Chief Washington Correspondent Jonathan Karl tested positive for Covid-19 Monday night, a…
Continue Reading Starbucks will raise wages again — but not for unionized workers
By Danielle Wiener-Bronner, CNN Business Starbucks interim CEO Howard Schultz has a message for workers interested in unionizing: If you do, you…
Continue Reading These retirement bills let older workers put even more into their 401(k)s
By Jeanne Sahadi, CNN Business If a popular piece of retirement legislation makes it to President Biden’s desk this year, it would give older…
Continue Reading These companies will help staff in red states bypass abortion bans
By Allison Morrow, CNN Business Millions of women in more than 25 states face an abortion ban if the Supreme Court overturns Roe v. Wade, the…
Continue Reading Homes got even pricier and harder to afford in most US cities
By Anna Bahney, CNN Business Home prices rose by double-digit percentages in most major US cities at the beginning of this year. Of 185 metro areas…
Continue Reading A record 4.5 million Americans quit their jobs in March
By Anneken Tappe, CNN Business The US labor market remained on fire in March with a record 4.5 million workers quitting their jobs, new data from the…
Continue Reading Opinion: The GDP report isn’t as bad as it seems, but there are still economic risks ahead
Opinion by Erik Lundh and Dana Peterson for CNN Business Perspectives If you grimaced at the most recent US GDP report, you weren’t alone. At…
Continue Reading Wall Street needs a reason to buy stocks. Is this it?
By Julia Horowitz, CNN Business Stocks have been volatile in recent weeks, notching their worst start to the year since 1939. Between the war in…
Continue Reading Ulta Beauty apologizes for ‘very insensitive’ email about Kate Spade
By Jordan Valinsky, CNN Business Ulta Beauty is apologizing for sending a newsletter to customers with a subject line containing a “very…
Continue Reading ‘Very, very unlikely’ Fed can tame inflation without sparking recession, former NY Fed chief says
By Matt Egan, CNN Business The Federal Reserve helped rescue the economy from the worst pandemic in a century. That task may prove easy compared with…
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