CNN-Business-Consumer

By Anna Bahney, CNN Business New rules rolled out earlier this year by mortgage giants Fannie Mae and Freddie Mac are creating a bottleneck in the real estate market for those seeking to buy or sell condo or co-op apartments, according to agents and condo associations. The new rules are intended to address concerns about

By Nicole Goodkind, CNN Business When a trade jumps by 250% over the course of days, investors typically pop bottles of champagne. Between Friday, March 4 and Tuesday March 8, nickel futures did just that — soaring on the London Metal Exchange from about $29,000 to $100,000 per ton. But the champagne remains corked, investors

By Nathaniel Meyersohn, CNN Business Wander around a supermarket and you’ll bump into all sorts of characters: Tony the Tiger, Toucan Sam, Cap’n Crunch and Buzz Bee in the cereal section. Mr. Clean, Brawny Man and the Charmin Bear among the household items. A few aisles later, chances are you’ll spot Betty Crocker, Kool-Aid Man,

By Zoe Sottile, CNN Alaska Airlines announced that it has launched new, gender-neutral uniform guidelines for flight attendants. “We have updated our uniform guidelines, effective today, to provide more freedom and flexibility in individual and gender expression,” the airline said in a statement on Monday. The airline said it will also collaborate with Seattle designer

By Anneken Tappe, CNN Business America’s economic recovery from the historic shock of the pandemic has been nothing short of extraordinary. However, consumers are feeling disparaged as they struggle with rising prices on everything from garden furniture and groceries to gas. Home prices have gone through the roof but with the Federal Reserve raising interest

By Matt Egan, CNN Business Sanctions leveled on Russia have pushed the country toward becoming a closed economy, a status the country is ill-equipped to handle, a senior Treasury official said on Friday. “The economic consequences Russia is facing are severe: high inflation that will only get higher, and deep recession that will only get

By Matt Egan, CNN Business The International Energy Agency announced Friday following an emergency meeting that its member countries will release additional oil from emergency reserves to cushion the blow caused by Russia’s invasion of Ukraine. However, the IEA did not disclose key details on the size and timing of this additional emergency action, which

Opinion by Matthew F. Ferraro for CNN Business Perspectives Last month, a false video circulated online that seemed to show Ukrainian President Volodymyr Zelensky telling his soldiers to surrender to the Russian invasion. The video — a mediocre lip-sync of Zelensky’s face and voice — was the product of artificial intelligence manipulation, commonly known as

By Reuters Russian energy giant Gazprom said on Friday it was exiting its business in Germany, amid a dispute between the two countries over Moscow’s insistence on switching payments for Russian gas to rubles from euros. It was not immediately clear how the move would affect the supply of Russian gas, on which Germany depends

By Jeanne Sahadi, CNN Business Curious about cryptocurrencies? Some employers may soon offer you the option to invest in bitcoin and other digital currencies through your 401(k). There is increasing discussion at financial service firms about how they could best provide a relatively safe crypto option in 401(k)s and other employer-sponsored retirement plans. For instance,

By Anna Cooban, CNN Business Britons were hit Friday by a huge rise in energy bills, compounding the country’s worst cost-of-living crisis in decades. About 22 million households will see their annual bills soar to about £2,000 ($2,626) after the UK’s energy regulator lifted its price cap by 54% — the biggest jump since it

By Anneken Tappe, CNN Business America’s labor market is roaring back, adding another 431,000 jobs in March and bringing the unemployment rate to a new pandemic-era low of 3.6%, the Bureau of Labor Statistics reported Friday. Prior to the pandemic, the jobless rate was at 3.5%, matching the near 50-year low first set in 2019.

By Laura He, CNN Business China’s strict lockdown in Shanghai is heaping even more pressure on global supply chains. On Friday, Shanghai extended restrictions in many parts of the city, which is home to China’s financial hub and one of the world’s busiest ports. The Port of Shanghai had already been suffering from major holdups,

By Michelle Toh, CNN Business China and Europe’s top leaders are set to meet on Friday, as their vast and growing trade relationship threatens to be overshadowed by differences over Russia and other geopolitical tensions. At the virtual EU-China summit, Beijing is expected to face pressure from one of its top trading partners over the

By Peter Valdes-Dapena, CNN Business The Toyota Corolla became world’s best-selling car mostly because it’s inexpensive, efficient and practical. Exciting? Maybe not that. Over the decades — the Corolla model has been in production since 1966 — there have been some fun, high-performance versions of the compact car, though. On Thursday night in Long Beach,

By Mirna Alsharif, CNN Business A former Yale administrative employee pleaded guilty on Monday of defrauding the university of more than $40.5 million by reselling electronics purchased with school funds over at least an eight-year period, according to court documents. Jamie Petrone-Codrington, 42, who was director of finance and lead administrator at the medical school’s