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 …
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 …
Editor’s note: Freddie Mac, which has tracked weekly average mortgage rates since 1971 and has periodically made changes to its primary mortgage market survey, changed the source of its data effective November 17, 2022. Instead of surveying lenders, weekly results will be based on applications received from lenders that are submitted to Freddie Mac. Learn …
Mortgage rates plunge, biggest weekly drop since 1981 | CNN Business Read More »
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 — Inventories were mostly higher on Tuesday after the US government announced that wholesale prices rose at a much less dramatic pace than expected. The news comes just days after another report showed the pace of consumer price increases was also slowing. The Dow was flat midday, having given up much …
Inflation is cooling and Wall Street is loving it | CNN Business Read More »
Minneapolis CNN Business — A key measure of inflation, wholesale prices, rose 8% in October from a year earlier, according to the latest report from the Bureau of Labor Statistics. Although still historically high, this is the smallest increase since July last year and significantly better than expected. It’s the second inflation report this month …
Another Key Economic Report Shows Inflationary Pressures Easing | CNN Business Read More »
Washington CNN Business — Amazon founder Jeff Bezos plans to donate the majority of his $124 billion net worth over his lifetime, telling CNN in an exclusive interview that he will dedicate most of his wealth to the fight against climate change and supporting people who can unite humanity in the face of deep social …
Exclusive: Jeff Bezos says he will donate most of his money to charity | CNN Business Read More »
London CNN Business — Conventional economic logic revolves around a basic assumption: large economies are better, and finding ways to sustain or stimulate growth is paramount to improving society. But what if growth does little at best to solve the world’s problems, and at worst promotes the destruction of the planet and jeopardizes its future? …
Degrowth: dangerous idea or response to the greatest global crisis? | CNN Business Read More »
CNN — One of Tesla’s main competitive advantages in North America is its network of chargers, which for the most part can only charge Tesla vehicles. Tesla chargers outnumber so-called CCS chargers, the type used by Ford, General Motors, Audi, Rivian and others, by a factor of two to one, according to Tesla. Now Tesla …
Tesla officially makes its charging standard available to other companies | CNN Business Read More »
Brisbane, Australia CNN — Cybercriminals in Russia are behind a ransomware attack on one of Australia’s largest private health insurers that saw sensitive personal data posted on the dark web, the Australian Federal Police said on Friday ( AFP). In a short press conference, AFP commissioner Reece Kershaw told reporters that investigators knew the identities …
Australia blames cybercriminals in Russia for Medibank data breach | CNN Business Read More »
