CNN – Business/Consumer

By Alexis Benveniste, CNN Business Bank of America is encouraging its vaccinated employees to return to the office after Labor Day in September, the company’s CEO Brian Moynihan said in a Bloomberg Television interview Thursday. After Labor Day, “our view is all the vaccinated teammates will be back,” Moynihan said. “We’ll be able to operate

The CDC continues to warn Americans about the Delta variant, first identified in India, labeling it “a variant of concern,” meaning it may be more easily spread. But, a new analysis shows states where vaccinations are up have Covid-19 cases that are down.

By Paul R. La Monica, CNN Business Intense bidding wars and supply shortages for lumber and other building materials threaten to finally derail the housing market. But one top homebuilder says the good times — for builders, anyway — aren’t over just yet. Lennar, a Miami-based builder, reported earnings and revenue after the closing bell

By Matt Egan, CNN Business New York Democrats want JPMorgan Chase to return the overdraft fees the bank collected during the pandemic — and to scrap the hated charges altogether. Despite the chaos set off by the pandemic, JPMorgan collected nearly $1.5 billion in overdraft fees last year, more than any other lender, according to

By Julia Horowitz, CNN Business The biggest US bank is ramping up its plans to expand in the United Kingdom. JPMorgan Chase announced Thursday that it’s buying Nutmeg, the UK digital wealth manager, for an undisclosed amount. It said the new acquisition will “complement” the digital bank that it’s planning to launch in the country

By Charles Riley and Maggie Fox, CNN Business Shares in CureVac plummeted on Thursday after the German biotech company said that interim trial results showed its experimental Covid-19 vaccine was only 47% effective in preventing symptomatic disease. The disappointing results sent shares down 45% in afternoon trading in Germany, wiping nearly $8 billion off the

By Paul R. La Monica, CNN Business The Federal Reserve surprised the market Wednesday with projections that future interest rate hikes will come a bit sooner than expected. Gold bugs in particular were disappointed. The price of gold fell 4% Wednesday and was lower again Thursday, falling below $1,800 an ounce for the first time

By Anneken Tappe, CNN Business Claims for unemployment benefits rose unexpectedly last week, marking the first increase in initial claims since late April. Another 412,000 workers filed for first-time benefits in the week ended June 12, adjusted for seasonal swings, the Labor Department said Thursday. Since the start of May, weekly claims had set new

By Julia Horowitz, CNN Business What Federal Reserve Chair Jerome Powell said in staid tones on Wednesday may not have sounded momentous. It was. What’s happening: The US central bank now expects to raise interest rates in 2023 as the post-pandemic economy booms and inflation rises. That’s sooner than it indicated in March, when the

By Chauncey Alcorn, CNN Business Major corporations are celebrating Juneteenth in unique ways this week. The annual June 19 tradition, which falls on Saturday this year, commemorates the day in 1865 when former American slaves in Galveston, Texas, were finally informed of President Abraham Lincoln’s January 1, 1863, Emancipation Proclamation and the end of the

By Eric Cheung, CNN Business Hong Kong police declared the Apple Daily newspaper office a crime scene Thursday, after 500 officers descended on the premises to arrest executives and top editors and seize journalistic materials under the city’s national security law. Apple Daily said Thursday that the company’s CEO Cheung Kim Hung, COO Chow Tat

By Kerry Flynn, CNN Business After a protracted battle that nearly led to a workers strike, the staffers at three Condé Nast publications — The New Yorker, Ars Technica and Pitchfork — have come to an agreement on their first union contracts The New Yorker staffers announced their intention to form a union with the

President Joe Biden apologized after responding to CNN’s Kaitlan Collins’ question regarding his meeting with Russian President Vladimir Putin by firing back that he’s “not confident” Putin will change his behavior.

By Oliver Darcy, CNN Business President Joe Biden on Wednesday apologized to CNN’s chief White House correspondent, Kaitlan Collins, after he lost his temper while speaking with her at the end of his press conference following the Geneva summit with Russian President Vladimir Putin. Before departing Geneva on Air Force One, Biden walked over to

Russian President Vladimir Putin took questions from international reporters following his meeting with President Joe Biden, including a question from ABC News reporter Rachel Scott who asked Putin about a recent law that banned individuals designated as “extremists” from running for public offices.

By Chauncey Alcorn, CNN Business It’s been more than a year since San Francisco Uber driver Lucas Chamberlain was knocked unconscious by a would-be customer who attacked him during an argument over whether or not the patron was old enough to ride solo. “I woke up with blood coming down under my eye,” Chamberlain told

By Anneken Tappe, CNN Business The Federal Reserve expects to raise interest rates in 2023, according to new economic projections the central bank published Wednesday. That’s a sharp contrast from the Fed’s previous forecast in March, in which the central bank predicted rates would stay near zero for at least the next two years. The

By Hanna Ziady, CNN Business A number of companies are pulling advertising from GB News just days after Britain’s newest and most controversial TV channel launched with a self-professed mission to fight “cancel culture.” Swedish furniture giant IKEA, skin cream maker Nivea and brewer Grolsch are among brands that have either pulled or paused advertising

By Paul R. La Monica, CNN Business The CEO of one of Wall Street’s top investment banks has a message for employees in its New York offices. You need to come back to work this fall. Morgan Stanley chief James Gorman said at an investing conference earlier this week that it’s time for the bank’s

By Oliver Darcy, CNN Business ABC News reporter Rachel Scott on Wednesday confronted Russian President Vladimir Putin about his crackdown on political opponents. “The list of your political opponents who are dead, imprisoned, or jailed is long … and you have now prevented anyone who supports [Russian opposition leader Alexey Navalny] to run for office,”