Former Treasury Secretary Larry Summers says chance of recession next year is substantial
By Nicole Goodkind, CNN Business Former US Treasury Secretary Larry Summers said on Thursday that it’s “substantially” more likely…
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Elon Musk says Tesla shares are only going up. But he’s selling them anyway
By Michael Ballaban Elon Musk made another one of his predictions. On Wednesday evening’s earnings call, the Tesla CEO claimed that his…
Continue ReadingWhy BMW really decided to make batteries in the US
By Peter Valdes-Dapena, CNN Business BMW recently announced a $1.7 billion investment to help prepare its huge Spartanburg, South Carolina, factory…
Continue ReadingElon Musk didn’t want EV tax credits. Now Tesla is warming up to them
By Matt McFarland, CNN Business Tesla buyers may be able to take advantage of new federal tax credits for electric vehicles next year, the…
Continue ReadingBeware of fad stocks. Truly owner, Snap and Zoom have plunged
By Paul R. La Monica, CNN Business Fads come and go in fashion. (Are skinny jeans no longer a thing?) The same is true of the stock market. Investors…
Continue Reading‘Batten down the hatches’: Bezos and fellow billionaires are issuing recession warnings
By Allison Morrow, CNN Business Even the uber-rich are on edge now about the economy. Elon Musk and Jeff Bezos, two of the wealthiest people on the…
Continue ReadingKey US bond yield hits highest level since June 2008
By Paul R. La Monica, CNN Business More bad news for anyone looking to buy a home: The benchmark 10-year Treasury bond yield rose to about 4.23%…
Continue ReadingUS home sales fall for 8th month in a row in September, the longest slump since 2007
By Anna Bahney, CNN Business Home sales in the US declined for the eighth month in a row in September as surging mortgage rates and high prices…
Continue ReadingInflation has people living paycheck to paycheck. Here’s how some banks are responding
By Alicia Wallace, CNN Business “Payday Friday” may soon be replaced by “Payday Wednesday.” This week, JPMorgan Chase,…
Continue ReadingThe Fed isn’t about to back down from its inflation fight
By Julia Horowitz, CNN Business Twelve days from now, the Federal Reserve will meet again, and expectations for the central bank’s next moves…
Continue ReadingIs Barilla really ‘Italy’s No. 1 brand of pasta?’ A lawsuit says no
By Jordan Valinsky, CNN Business Barilla can’t avoid a class-action lawsuit over allegedly deceptive advertising about the pasta’s…
Continue ReadingExclusive: Wonder Bread will have its first-ever float in the Macy’s Thanksgiving Day Parade
By Jordan Valinsky, CNN Business For any company that’s been around for a century, it can be hard to keep the brand fresh. Wonder Bread hopes…
Continue ReadingAmerican Airlines: Our customers aren’t buying international first class tickets. So we’re eliminating them
By Chris Isidore, CNN Business American Airlines expanded on its plan to drop first-class seats on its international flights and replace them with…
Continue ReadingMortgage rates rise again, creeping closer to 7%
By Anna Bahney, CNN Business Mortgage rates rose again this week, stopping just short of the 7% mark. The 30-year fixed-rate mortgage averaged 6.94%…
Continue ReadingChinese stocks tumble to multi-year lows in New York and Hong Kong amid party congress
By Laura He, CNN Business Chinese stocks have hit multi-year lows in New York and Hong Kong amid growing concerns about China’s rising Covid…
Continue ReadingGas prices are heading down, with or without Biden’s help
By Chris Isidore, CNN Business It’s not at all clear if President Joe Biden’s latest announcement that he’s releasing oil from the…
Continue ReadingTesla earnings rebound but will miss 50% growth target
By Chris Isidore, CNN Business Tesla posted a solid quarter of earnings and record revenue, but now says it will fall short of its target for a 50%…
Continue ReadingCovid’s WFH revolution helped fuel a baby boom
By Alicia Wallace, CNN Business Economic factors, not just lockdown-induced forced proximity, played a key role in last year’s “baby…
Continue Reading‘Serious concerns’: These senators are pushing back on the $25 billion Kroger-Albertsons merger
By Nathaniel Meyersohn, CNN Business The proposed $25 billion Kroger-Albertsons grocery giant merger is already running into significant opposition…
Continue ReadingWaymo to expand robotaxi service to Los Angeles
By Matt McFarland, CNN Business Waymo, the robotaxi provider of Google’s parent company Alphabet, said Wednesday that it will expand its…
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