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 »
Washington CNN — On Thursday, the Federal Trade Commission filed a lawsuit to block Microsoft’s $69 billion acquisition of Activision Blizzard, challenging one of the biggest tech acquisitions in history. The administrative complaint filed Thursday by the FTC alleges that the blockbuster deal, which would make Microsoft the world’s third-largest video game publisher, would give …
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 »
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 …
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 …
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 …
Tech stocks were crushed. What’s next for the FAANG? | CNN Business Read More »
New York CNN Business — In less than a week, a 30-year-old entrepreneur once hailed as a modern-day JP Morgan saw his digital empire, including billions of his own fortune, evaporate in a deathly spiral that shook the foundations of the trillion dollar crypto industry. . On Thursday, Sam Bankman-Fried posted a mea culpa: “I …
Crypto Is In Chaos As FTX Is On The Verge Of Bankruptcy | CNN Business Read More »
