A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber ? You can register here. New York CNN — The Federal Reserve is almost certain to announce on Wednesday that it will raise interest rates again. But investors are hoping it will be a smaller increase than the …
The Fed will raise rates again. But that’s playing with fire | CNN Business Read More »
New York CNN Business — Self-service payment arrived in the late 1980s in supermarkets. A decade later, it began to spread to large chains and pharmacies. Today, self-checkouts, loved by some and hated by others, have made their way into discount clothing stores and department stores. Kohl’s (KSS) is testing self-service payment terminals in a …
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber ? You can register here. New York CNN Business — The collapse of FTX has sent the price of bitcoin and other cryptocurrencies plummeting by more than 60% this year…and the carnage has spread to publicly traded companies …
Is the worst over for bitcoin and the rest of crypto? | CNN Business Read More »
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 …
There’s a big problem with the Kroger-Albertsons supermarket merger | CNN Business Read More »
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, …
BlockFi Files For Bankruptcy As FTX Contagion Grips Crypto Markets | CNN Business Read More »
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 …
Mortgage rates fall for the second week in a row | CNN Business Read More »
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 …
Elon Musk’s 50 billion dollar lawsuit is coming to an end | CNN Business Read More »
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 …
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 …
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 …
