business activities and management

There's a big problem with the Kroger-Albertsons supermarket merger |  CNN Business

There’s a big problem with the Kroger-Albertsons supermarket merger | CNN Business

New York CNN Business — When Christine Martinez found out last month that Kroger and Albertsons were planning to merge in a deal worth nearly $25 billion, she thought, “here we go again.” Martinez lost her job as a pharmacy technician following an earlier supermarket mega-merger: Albertsons’ $9 billion combination with Safeway in 2014. That …

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BlockFi Files For Bankruptcy As FTX Contagion Grips Crypto Markets |  CNN Business

BlockFi Files For Bankruptcy As FTX Contagion Grips Crypto Markets | CNN Business

New York CNN Business — Crypto lender BlockFi filed for bankruptcy on Monday, becoming the latest victim of the financial contagion triggered by the collapse of Sam Bankman-Fried’s empire. BlockFi announced earlier this month that it had halted withdrawals, citing “significant exposure” to Bankman-Fried’s FTX exchange, as well as its sister hedge fund Alameda. FTX, …

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Mortgage rates fall for the second week in a row |  CNN Business

Mortgage rates fall for the second week in a row | CNN Business

Mortgage rates fell again this week, after plunging nearly half a percentage point last week. The 30-year fixed-rate mortgage averaged 6.58% in the week ending Nov. 23, down from 6.61% the previous week, according to Freddie Mac. A year ago, the 30-year fixed rate was 3.10%. Mortgage rates have risen for most of 2022, boosted …

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Elon Musk's 50 billion dollar lawsuit is coming to an end |  CNN Business

Elon Musk’s 50 billion dollar lawsuit is coming to an end | CNN Business

washington d.c. CNN — The trial of Tesla shareholders’ lawsuit examining CEO Elon Musk’s unprecedented compensation package concluded on Friday afternoon. Chancellor Kathaleen McCormick has not issued a decision from the bench, and it could take weeks to months before a decision is made. “We have a lot of work ahead of us,” McCormick told …

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Home sales in the United States fall for the 9th consecutive month in October |  CNN Business

Home sales in the United States fall for the 9th consecutive month in October | CNN Business

U.S. home sales fell for the ninth straight month in October as soaring mortgage rates and high prices pushed buyers out of the market. Sales of existing homes — which include single-family homes, townhouses, condominiums and co-ops — were down 28.4% in October from a year ago and 5.9% from September , according to a …

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Retail sales jumped 1.3% in October as consumers continued to spend despite inflation |  CNN Business

Retail sales jumped 1.3% in October as consumers continued to spend despite inflation | CNN Business

Minneapolis CNN Business — US shoppers spent more in October, showing continued resilience amid still-high inflation and an early start to the holiday shopping season. US retail sales rose 1.3% in October, the Census Bureau reported Wednesday. It’s the biggest monthly gain since February and better than 1% economists had expected. consumer spending was flat …

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FTX crash looks suspiciously like Bernie Madoff scandal, says ex-regulator Sheila Bair |  CNN Business

FTX crash looks suspiciously like Bernie Madoff scandal, says ex-regulator Sheila Bair | CNN Business

New York CNN Business — In just three years, Sam Bankman-Fried has transformed FTX into a massive crypto exchange backed by big-name investors and valued at $32 billion. It only took a few days for it all to implode into a sprawling bankruptcy filing. Sheila Bair, a top regulator during the 2008 financial crisis, told …

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Customers Who Trusted Crypto Giant FTX Could Be Left With Nothing |  CNN Business

Customers Who Trusted Crypto Giant FTX Could Be Left With Nothing | CNN Business

New York CNN Business — As the dust settles from one of the most shocking financial implosions in history, one of the key unknowns is how much customers who can’t access their money expect to get back from FTX, the crypto exchange which filed for bankruptcy last week. The answer, according to legal experts, could …

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Tech stocks were crushed.  What's next for the FAANG?  |  CNN Business

Tech stocks were crushed. What’s next for the FAANG? | CNN Business

New York CNN Business — The great bull run for tech stocks may finally be over. It’s been a brutal year for big companies in Silicon Valley. Apple’s (AAPL) stock is down about 16% in 2022, making it the “best” performance of Big Tech’s so-called FAANGs. Facebook owner Meta, Amazon (AMZN), Netflix (NFLX) and Google …

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It's a terrible time to buy a house.  Here's what to know if you still have to do it |  CNN Business

It’s a terrible time to buy a house. Here’s what to know if you still have to do it | CNN Business

There is no coating: it’s a terrible time to buy a house. Mortgage rates for a 30-year fixed-rate loan are now hovering above 7%, more than 4 percentage points higher than a year ago. This reduced the purchasing power of a typical buyer by 14%, according to Black Knight, a mortgage data company. With fewer …

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