Money Archives - Local News 8

Credit scores stayed steady as consumer debt balances rose in 2022

March 29, 2023 11:41 PM Stacker

Experian reviewed anonymized credit report data to see how consumers’ credit scores have changed over the past year and to understand the pandemic’s…

Bang for the buck: How USD exchange rates have changed for 10 major travel destinations

March 29, 2023 11:41 PM Stacker

If you’re itching to get back to international travel, consider how the U.S. dollar compares with local currencies, thanks to data from…

The Tesla Semi is getting recalled for faulty parking brakes

March 31, 2023 12:38 PM CNN Newsource

By Peter Valdes-Dapena, CNN Tesla has issued a recall for 35 of its new electric Semi trucks because the parking brake might not engage when applied…

NATO has officially banned staffers from downloading the social media app TikTok onto their NATO-provided devices.

NATO bans TikTok on devices

March 31, 2023 6:53 AM CNN Newsource

By Natasha Bertrand, CNN NATO has officially banned staffers from downloading the social media app TikTok onto their NATO-provided devices, citing…

Post-2008 reforms didn’t solve the problem of ‘too big to fail’ banks

March 31, 2023 4:41 AM CNN Newsource

Regulation introduced after the 2008 financial crisis was supposed to make bank bailouts a thing of the past. But its biggest test so far has…

Inflation in Europe has fallen to its slowest pace in more than a year. Pictured are shoppers in Barcelona

Key inflation gauge in Europe hits record high even as overall price rises slow sharply

March 31, 2023 6:22 AM CNN Newsource

Inflation in Europe has fallen to its slowest pace in more than a year, though stark signs of persistent underlying pressure on prices will…

FDIC spent about $23 billion to clean up the mess that Silicon Valley Bank and Signature Bank left in the wake of their collapses earlier this month.

Who will end up paying for the banking crisis: You

March 31, 2023 5:12 AM CNN Newsource

It cost the Federal Deposit Insurance Corporation about $23 billion to clean up the mess that Silicon Valley Bank and Signature Bank left in the wake…

The leaders of more than 30 news organizations on Thursday demanded the release of imprisoned Wall Street Journal reporter Evan Gershkovich.

Leaders of more than 30 news organizations demand Russia release WSJ reporter

March 31, 2023 10:44 AM CNN Newsource

By Oliver Darcy, CNN Business The leaders of more than 30 news organizations around the world signed a letter Thursday to the Russian ambassador to…

Southwest Airlines has unveiled an "action plan" to prevent another operational meltdown. Pictured is a baggage holding area for Southwest Airlines at Denver International Airport in 2022 in Denver.

Southwest releases an ‘action plan’ to prevent another operational nightmare

March 31, 2023 10:16 AM CNN Newsource

By Jordan Valinsky, CNN Southwest Airlines has unveiled an “action plan” to prevent another operational meltdown like the one from last…

The Fed’s favorite inflation measure cooled in February

March 31, 2023 6:34 AM CNN Newsource

The Federal Reserve’s preferred inflation gauge cooled back down in February after ticking up unexpectedly the month before, a welcome sign in the…

Half of Americans support a US government ban on TikTok.

What Americans think of a TikTok ban

March 31, 2023 9:41 AM CNN Newsource

By Brian Fung, CNN Half of Americans support a US government ban on TikTok, while 22% oppose the idea and more than a quarter are unsure, according…

Regulators in Italy issued Friday a temporary ban on ChatGPT over privacy concerns.

Italy blocks ChatGPT over privacy concerns

March 31, 2023 9:09 AM CNN Newsource

By Livvy Doherty and Sharon Braithwaite, CNN Regulators in Italy issued a temporary ban on ChatGPT Friday, effective immediately, due to privacy…

New guidance from the Biden administration suggests fewer EVs will be eligible for tax credits starting April 18. It expects more to be added in the coming months and years.

Considering an EV? Here’s what to know about the new tax credits

March 31, 2023 8:16 AM CNN Newsource

By Ella Nilsen, CNN When the Biden administration’s proposed rule for which vehicles qualify for its revamped EV tax credit goes into effect on…

Norfolk Southern CEO more than doubled his pay last year after getting promoted

March 31, 2023 8:11 AM CNN Newsource

By Chris Isidore, CNN Norfolk Southern CEO Alan Shaw got $9.8 million in total compensation in 2022, more than double the $4.7 million he received in…

Trump-related stocks surged Friday after indictment. Pictured is the New York Stock Exchange.

Trump-related stocks surge after indictment

March 31, 2023 7:40 AM CNN Newsource

By David Goldman, CNN Three stocks with ties to former President Donald Trump surged Friday after two sources familiar with the case told CNN that…

Trump-related stocks surge after indictment

March 31, 2023 6:56 AM CNN

By David Goldman, CNN Three stocks with ties to former President Donald Trump surged Friday after two sources familiar with the case told CNN that…

The White House and Republican leaders in Washington are nowhere near a deal to avert a disastrous US default.

‘It’s not zero.’ Wall Street is pricing in a small but growing risk of a disastrous US default

March 31, 2023 4:49 AM CNN Newsource

By Matt Egan, CNN A US default would have such devastating economic and financial consequences that many observers dismiss the possibility out of…

Japan will join the United States and the Netherlands in curbing the export of key technology to China.

Japan joins the US and Europe in chipmaking curbs on China

March 31, 2023 3:59 AM CNN Newsource

By Michelle Toh and Junko Ogura, CNN Japan will restrict the overseas sale of chip manufacturing equipment, joining the United States and the…

China's economic recovery is gaining traction. In this image

China’s services activity jumps to decade high as economic recovery gets back on track

March 31, 2023 2:20 AM CNN Newsource

By Laura He, CNN A key index measuring the strength of China’s massive services sector jumped to its highest level in more than a decade, as…

A man undergoes a Covid-19 test in Shanghai on January 7. China's government is strapped for cash after years of enforcing its costly zero-Covid policy.

Chinese cities are so broke, they’re cutting medical benefits for seniors

March 31, 2023 12:16 AM CNN Newsource

By Laura He, CNN China’s government, strapped for cash after years of enforcing a costly zero-Covid policy, is cutting medical benefits and…

A victim is carried to an ambulance in Indore

At least 35 killed after falling into underground stepwell in Indian temple

March 30, 2023 11:03 PM CNN Newsource

By Jessie Yeung, Manveena Suri and Vedika Sud, CNN At least 35 people were killed Thursday after falling into a stepwell at a Hindu temple in central…

Britain has reached an agreement to join a major trans-Pacific partnership. Pictured is the UK's largest freight port

UK joins trans-Pacific trade bloc in a deal likely to boost GDP by less than 0.1%

March 30, 2023 10:01 PM CNN Newsource

By Michael Rios and Michelle Toh, CNN Britain has reached an agreement to join a major free trade bloc in the Pacific region. The country will become…

Evan Gershkovich was arrested Wednesday by Russian security forces in the city of Yekaterinburg.

WSJ editor tells staff she is ‘very concerned’ for safety of reporter arrested in Russia

March 30, 2023 6:18 PM CNN

By Oliver Darcy, CNN Wall Street Journal Editor-in-Chief Emma Tucker told staff in a memo Thursday that she was “very concerned” for the…

Mortgage rates fall for the third week in a row

March 30, 2023 10:00 AM CNN Newsource

By Anna Bahney, CNN Homebuyers saw another week of falling mortgage rates, with the average rate dropping last week for the third week in a row,…

Virgin Orbit, Richard Branson’s rocket company, will lay off 85% of staff

March 30, 2023 4:08 PM CNN Newsource

By Jackie Wattles, CNN Virgin Orbit — the rocket company founded by British billionaire Richard Branson — is laying off the vast majority of its…

Elon Musk speaks at the SATELLITE Conference and Exhibition in March of 2020

News organizations reject Elon Musk’s demand of paying to keep checkmarks on Twitter

March 30, 2023 3:47 PM CNN Newsource

By Oliver Darcy, CNN News organizations have a message for Elon Musk: We are not going to pay you for checkmarks on Twitter. The New York Times, Los…

A new Hyundai Motor Co. Santa Fe SUV sits parked before being shipped to a dealership from the Hyundai Motor Manufacturing Alabama facility in Montgomery on July 19

Hyundai and Kia theft trend has reached New York City

March 30, 2023 1:06 PM CNN Newsource

By Peter Valdes-Dapena, CNN Business Spikes in car thefts of certain Hyundai and Kia models, a trend that began in the American midwest and was…

Former Starbucks CEO Howard Schultz testifies before a Senate Health

Starbucks shareholders want more information about the company’s anti-union efforts

March 30, 2023 12:51 PM CNN Newsource

By Danielle Wiener-Bronner, CNN Starbucks’ investors have voted in favor of an independent review of the company’s aggressive anti-union…

The C-suite bloodbath astonished staffers at the network

ABC News lays off several senior executives amid broader Disney cost-cutting in ‘shock’ to newsroom

March 30, 2023 11:28 AM CNN Newsource

By Oliver Darcy, CNN Business ABC News on Thursday stunned staffers, laying off several senior executives and restructuring its newsroom amid a…

Bed Bath & Beyond will sell up to $300 million of its stock to avoid bankruptcy.

Bed Bath & Beyond says it will likely file for bankruptcy if it can’t sell $300 million in stock

March 30, 2023 10:52 AM CNN Newsource

By Nathaniel Meyersohn, CNN Bed Bath & Beyond will sell up to $300 million of its stock to repay creditors and fund its business as it struggles…

Silicon Valley Bank's collapse earlier this month gave the fine wine and crypto industry a big boost as panicking investors rushed out of the financial sector and into alternative assets.

Banking chaos has been bittersweet for crypto and wine

March 30, 2023 4:59 AM CNN Newsource

By Nicole Goodkind, CNN Silicon Valley Bank’s collapse earlier this month dealt a major blow to the wine and crypto firms that entrusted their…

The average annual Wall Street bonus fell by 26% last year.

The average Wall Street bonus fell by 26% last year

March 30, 2023 5:40 AM CNN Newsource

By Jeanne Sahadi, CNN The average annual Wall Street bonus fell to $176,700 last year, a 26% drop from the previous year’s average of $240,400,…

Why skinny soda cans are everywhere

March 30, 2023 7:24 AM CNN Newsource

By Nathaniel Meyersohn, CNN Suddenly, your beverage is taller. Beverage brands rely on packaging shape and design to draw in consumers. Now…

The US economy grew at a slower pace in the fourth quarter than previously estimated. A man carries siding into a house at a new home construction site in Trappe

The final estimate for GDP shows the US economy grew at 2.6% last quarter

March 30, 2023 6:34 AM CNN Newsource

By Alicia Wallace, CNN The US economy grew at a slower pace in the fourth quarter than initially estimated, as consumer spending continued to trail…

The banking crisis that caused US officials to launch emergency interventions is unlikely to have significant direct costs for the federal government.

Banking crisis won’t hurt America’s credit rating unless stress intensifies, Moody’s says

March 30, 2023 9:42 AM CNN Newsource

By Matt Egan, CNN The banking crisis that caused US officials to launch emergency interventions is unlikely to have significant direct costs for the…

An AI policy think tank wants the US government to investigate OpenAI and its wildly popular GPT artificial intelligence product over 'deceptive' behavior.

The FTC should investigate OpenAI and block GPT over ‘deceptive’ behavior, AI policy group claims

March 30, 2023 9:35 AM CNN Newsource

By Brian Fung, CNN An AI policy think tank wants the US government to investigate OpenAI and its wildly popular GPT artificial intelligence product,…

WSJ editor tells staff she is ‘very concerned’ for safety of reporter arrested in Russia

March 30, 2023 9:30 AM CNN Newsource

By Oliver Darcy, CNN Wall Street Journal Editor-in-Chief Emma Tucker told staff in a memo Thursday that she was “very concerned” for the…

Sam Bankman-Fried has pleaded not guilty to fraud and bribery charges on Thursday.

Sam Bankman-Fried pleads not guilty to new federal charges

March 30, 2023 9:13 AM CNN Newsource

By Kara Scannell, CNN Sam Bankman-Fried, the founder of failed cryptocurrency trading platform FTX, pleaded not guilty to five new federal charges of…

Putin admits sanctions could hurt Russia’s economy

March 30, 2023 8:48 AM CNN Newsource

By Hanna Ziady, CNN President Vladimir Putin has conceded that Western sanctions designed to starve the Kremlin of funds for its invasion of Ukraine…

Ex-Fox producer said she gave misleading testimony in Dominion case ‘to keep my job’

March 30, 2023 7:36 AM CNN Newsource

By Marshall Cohen and Kristina Sgueglia, CNN Abby Grossberg, the former Fox News producer who accused the right-wing network of pressuring her into…

The final estimate for GDP shows the US economy grew at 2.6% last quarter

March 30, 2023 6:34 AM CNN

By Alicia Wallace, CNN The US economy grew at a slower pace in the fourth quarter than initially estimated, as consumer spending continued to trail…

WSJ editor tells staff she is ‘very concerned’ for safety of reporter arrested in Russia

March 30, 2023 3:59 AM CNN

By Oliver Darcy, CNN Wall Street Journal Editor-in-Chief Emma Tucker told staff in a memo Thursday that she was “very concerned” for the…

Wall Street Journal journalist Evan Gershkovich has been arrested in Russia on suspicion of espionage.

Wall Street Journal reporter arrested in Russia on suspicion of ‘espionage’

March 30, 2023 3:37 AM CNN Newsource

By Sarah Dean and Anna Chernova, CNN Wall Street Journal journalist Evan Gershkovich has been arrested in Russia on suspicion of espionage, according…

China’s services activity jumps to decade high as economic recovery gets back on track

March 30, 2023 1:38 AM CNN

By Laura He, CNN A key index measuring the strength of China’s massive services sector jumped to its highest level in more than a decade, as…

China's Premier Li Qiang delivers a speech during the opening of the Boao Forum for Asia in Boao

China ‘confident and capable’ of hitting 2023 growth targets, new premier says at gathering of business leaders

March 30, 2023 1:38 AM CNN Newsource

By Laura He, CNN China’s newly minted Premier Li Qiang painted a bullish picture of his country’s economic recovery at a key business…

The global IPO market slump endures as companies wait out the effects of volatile stock markets. Pictured is the New York Stock Exchange.

‘Companies are holding out’: Global IPO market slump endures

March 29, 2023 10:30 PM CNN Newsource

By Michelle Toh, CNN A slowdown in global initial public offerings continued in the first quarter of 2023 and is likely to endure in the coming…

The Food and Drug Administration will now require medical devices meet specific cybersecurity guidelines after years of concerns that a growing number of internet-connected products used by hospitals and healthcare providers could be hit by hacks and ransomware attacks.

FDA requires medical devices be secured against cyberattacks

March 29, 2023 1:56 PM CNN Newsource

By Jennifer Korn The Food and Drug Administration will now require medical devices meet specific cybersecurity guidelines after years of concerns…

Starbucks shareholders want more information about the company’s anti-union efforts

March 29, 2023 3:43 PM CNN

By Danielle Wiener-Bronner, CNN Starbucks’ investors have voted in favor of an independent review of the company’s aggressive anti-union…

Fox News chief executive Suzanne Scott internally sounded the alarm about the financial fallout that the right-wing network would suffer if it continued fact-checking then-President Donald Trump's lies after the 2020 election

Fox News CEO said correspondent’s fact-check of Trump’s election lies was ‘bad for business,’ new emails show

March 29, 2023 2:37 PM CNN Newsource

By Oliver Darcy and Marshall Cohen, CNN Fox News CEO Suzanne Scott sounded the alarm inside the company about the financial fallout that the…

High egg prices send profits at Cal-Maine Foods

High egg prices send profits at largest US producer soaring more than 700%

March 29, 2023 6:20 AM CNN Newsource

By Chris Isidore, CNN Cal-Maine Foods, the largest egg producer in the United States, reported revenue doubled and profit surged 718% last quarter…

Elon Musk and other tech leaders call for pause in ‘out of control’ AI race

March 29, 2023 10:18 AM CNN Newsource

By Samantha Murphy Kelly, CNN Business Some of the biggest names in tech are calling for artificial intelligence labs to stop the training of the…

The new Lamborghini is totally different than any car it’s ever made

March 29, 2023 10:02 AM CNN Newsource

By Peter Valdes-Dapena, CNN Business Soon, you’ll be able to plug in your Lamborghini. Closing out a half century of purely gasoline-powered…

Foot Locker will close 400 stores by 2026 in malls.

Foot Locker is closing 400 stores. They may become an eyesore

March 29, 2023 4:52 AM CNN Newsource

By Nathaniel Meyersohn, CNN Two major retail chains are closing roughly 800 stores. One company’s spaces likely will be filled, while the…

"Cup Noodles Breakfast" is on sale at Walmart.

Cup Noodles’ new ramen flavor puts your breakfast cravings into a cup

March 29, 2023 6:06 AM CNN Newsource

By Jordan Valinsky, CNN Business The high price of eggs and other breakfast staples is forcing some to look for cheaper breakfast alternatives. How…

Macy's CEO Jeff Gennette will be replaced next year by Bloomingdale's CEO Tony Spring.

The Future of Macy’s: New CEO is a veteran of Bloomingdale’s

March 29, 2023 7:16 AM CNN Newsource

By Nathaniel Meyersohn, CNN One of the highest profile jobs in retail will change hands next year. Macy’s CEO Jeff Gennette will retire in…

Federal judge rules Google tried to ‘hide the ball’ by deleting chat logs in a big antitrust case

March 29, 2023 8:34 AM CNN Newsource

By Brian Fung, CNN Google intentionally sought to “hide the ball” in a high-profile antitrust case by automatically deleting employee…

Arkansas sues TikTok, ByteDance and Meta over mental health claims

March 29, 2023 7:37 AM CNN Newsource

By Brian Fung, CNN The state of Arkansas has sued TikTok, its parent ByteDance, and Facebook-parent Meta over claims the companies’ products…

Adidas does rapid U-turn in Black Lives Matter logo dispute

March 29, 2023 7:12 AM CNN Newsource

By Anna Cooban, CNN Adidas is backpedaling fast over its latest attempt to protect its iconic three-stripe mark. The German sportswear company said…

Former Starbucks CEO Howard Schultz arrives to testify about the company's labor and union practices during a Senate Committee on Health

Bernie Sanders confronts former Starbucks CEO Howard Schultz on company’s labor practices

March 29, 2023 7:04 AM CNN Newsource

By Danielle Wiener-Bronner, CNN Senator Bernie Sanders, who has roundly criticized former Starbucks CEO Howard Schultz over the company’s…

Bank of England calls for urgent action on funds that nearly toppled UK financial system

March 29, 2023 6:51 AM CNN Newsource

By Julia Horowitz, CNN The Bank of England has called for urgent action to address a weak spot in the UK financial system as persistent worries about…

Federal regulators are back on Capitol Hill to explain the banking crisis

March 29, 2023 5:40 AM CNN

Federal regulators are back on Capitol Hill to explain the banking crisis

March 29, 2023 5:40 AM CNN Newsource

Senate Finance Committee Chairman Ron Wyden

Credit Suisse is still helping ultra-wealthy Americans evade taxes, Senate panel says

March 29, 2023 5:30 AM CNN Newsource

By Matt Egan, CNN Credit Suisse is complicit in ongoing tax evasion by ultra-wealthy Americans, including a potentially criminal conspiracy involving…

The FTC should investigate OpenAI and block GPT over ‘deceptive’ behavior, AI policy group claims

March 29, 2023 2:45 AM CNN

By Brian Fung, CNN An AI policy think tank wants the US government to investigate OpenAI and its wildly popular GPT artificial intelligence product,…

ChatGPT has prompted many businesses to rethink how people should work every day.

300 million jobs could be affected by latest wave of AI, says Goldman Sachs

March 29, 2023 2:45 AM CNN Newsource

By Michelle Toh, CNN As many as 300 million full-time jobs around the world could be automated in some way by the newest wave of artificial…

UBS is bringing back its former chief executive

UBS brings back Sergio Ermotti as CEO to oversee Credit Suisse rescue

March 28, 2023 11:34 PM CNN Newsource

By Michelle Toh and Hanna Ziady, CNN UBS is bringing back its former chief executive, Sergio Ermotti, to manage the hugely complex and risky task of…

Gov. Gavin Newsom signs a bill aimed at addressing gas price gouging while surrounded by legislators and state officials in the Capitol rotunda on March 28 in Sacramento

California governor signs bill giving energy commission oversight power on oil companies

March 28, 2023 8:27 PM CNN Newsource

By Taylor Romine, CNN California Gov. Gavin Newsom signed a bill into law Tuesday that gives the state’s energy commission oversight power on…

The EV9 is about the same length and height as the Telluride

The big, electric Kia EV9 has carpets made out of recycled fishing nets

March 28, 2023 3:00 PM CNN Newsource

By Peter Valdes-Dapena, CNN Business The big Kia Telluride SUV, with three roomy rows of seats, has been a major hit for the South Korean car brand.…

A person kneels in front of an entry to Covenant School

Why Corporate America has grown silent on gun violence

March 28, 2023 2:40 PM CNN Newsource

By Nathaniel Meyersohn, CNN America’s biggest companies rushed to strengthen their gun safety policies after the mass shooting at a high school…

Apple launches buy now, pay later service

March 28, 2023 12:08 PM CNN Newsource

By Jennifer Korn Apple on Tuesday launched an option in its digital wallet allowing customers to pay for online purchases in installments, making it…