US economy contracts again, fueling recession fears
By Martha White and Alicia Wallace, CNN Business The US economy shrank again in the second quarter, the Bureau of Economic Analysis said Thursday.…
Continue ReadingMoney
Facebook parent posts first revenue decline as a public company
By Clare Duffy, CNN Business Facebook is in decline. Meta, Facebook’s parent company, reported revenue of $28.8 billion for the three months…
Continue ReadingFord earnings and revenue soar, helped by high car prices
By Chris Isidore, CNN Business Ford shook off the impact of supply chain problems and limited vehicle inventory to post much better-than-expected…
Continue ReadingElectric truck maker Rivian laying off 6% of its workforce
By Peter Valdes-Dapena, CNN Business Rivian, the Amazon-backed manufacturer of electric pickups, SUVs and delivery vans, is laying off about 6% of…
Continue ReadingFTC files to block Facebook-parent Meta from buying a VR company
By Clare Duffy, Rachel Metz and Brian Fung, CNN The Federal Trade Commission on Wednesday moved to block Facebook-parent Meta from acquiring virtual…
Continue ReadingIf it looks like a recession and quacks like a recession…
By Paul R. La Monica, CNN Business Is the United States heading for a recession? Or is the economy already in one? It — almost —…
Continue ReadingFed makes history with second massive rate hike in as many months
By Nicole Goodkind, CNN Business What seemed unfathomable just six months ago — a 75-basis-point rate hike by the Federal Reserve — has…
Continue Reading
Opponents of newly-amended evacuation ordinance in Colorado Springs seek help from state lawmakers
COLORADO SPRINGS, Colo. (KRDO) — West side residents who believe that city officials ignored their concerns about the new emergency evacuation…
Continue ReadingDOJ reaches redlining settlement with mortgage lender accused of discriminating against communities of color
By Hannah Rabinowitz, CNN A Pennsylvania mortgage company owned by billionaire investor Warren Buffett discriminated against communities of color in…
Continue ReadingTikTok pledges more transparency for researchers amid renewed scrutiny
By Catherine Thorbecke, CNN Business TikTok on Wednesday said it would share more data with certain researchers to study activity on the platform…
Continue ReadingHow to take advantage of rising interest rates
By Jeanne Sahadi, CNN Business With the Federal Reserve’s interest rate hike on Wednesday — its fourth since March — consumers…
Continue ReadingSprite will no longer be sold in green bottles
By Jordan Valinsky, CNN Business Sprite is retiring its green plastic bottles after more than 60 years. Coca-Cola said Wednesday it’s changing…
Continue ReadingWhat 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 ReadingSpirit and Frontier pull plug on deal, setting stage for JetBlue to buy Spirit
By Chris Isidore, CNN Business Spirit and Frontier airlines Wednesday finally pulled the plug on their proposed deal, which had been on life support…
Continue ReadingThis counts as good news for Boeing
By Chris Isidore, CNN Business Boeing has become so embattled, the company’s stock rose even after reporting a worse-than-expected loss and…
Continue ReadingNext sign of the market apocalypse: Single-stock ETFs
By Paul R. La Monica, CNN Business The Wall Street gambling parlor is still alive and well. Asset management firm AXS Investments recently launched…
Continue ReadingOpinion: The toughest part of the Fed’s job may already be done
Opinion by David Wilcox for CNN Business Perspectives The US economy may have begun to cool some, but it is still seriously overheated. Employers are…
Continue ReadingSouth Korean giant SK Group is pouring $22 billion into the United States
By Michelle Toh, CNN Business South Korea’s second biggest conglomerate is investing $22 billion into the United States, in high-priority areas…
Continue ReadingWall Street doesn’t want the Fed to chill out
By Julia Horowitz, CNN Business Investors are uneasy as the Federal Reserve gears up for its latest policy announcement on Wednesday. But their hope…
Continue ReadingThe stock market is practically begging for a recession
By Nicole Goodkind, CNN Business Wall Street has a serious case of recession dread. Inflation is at a 40-year high and the Federal Reserve is…
Continue Reading