CNN – Business/Consumer

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 faces 30 counts related to business fraud in an indictment from a Manhattan grand jury. It’s not clear why investors sent shares of those companies soaring Friday, although the

By Alicia Wallace, CNN The Federal Reserve’s preferred inflation gauge cooled back down in February after ticking up unexpectedly the month before, a welcome sign in the central bank’s long battle to bring down historic price increases. The Personal Consumption Expenditures price index rose 5% for the 12 months ended in February, lower than January’s

By Julia Horowitz, CNN Inflation in Europe has fallen to its slowest pace in more than a year, though stark signs of persistent underlying pressure on prices will complicate policymakers’ next move on borrowing costs. Prices in the 20 countries that use the euro rose 6.9% this month compared with a year ago, the European

By Nicole Goodkind, CNN 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 of their collapses earlier this month. Now, as the dust clears and the US banking system steadies, the FDIC needs to figure out where to

By Matt Egan, CNN A US default would have such devastating economic and financial consequences that many observers dismiss the possibility out of hand. But investors are not ruling out such a nightmare scenario. Even though a default could wipe out millions of jobs and wreak havoc on Wall Street, the White House and Republican

By Hanna Ziady and Julia Horowitz, CNN 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 revealed some serious shortcomings. In what feels like deja-vu, governments have had to step in as lenders of last resort to prevent the

By Jackie Wattles, CNN Virgin Orbit — the rocket company founded by British billionaire Richard Branson — is laying off the vast majority of its workforce as company leadership struggles to secure additional funding. About 675 employees will be terminated by April 3, according to a public document filed Thursday, amounting to around 85% of

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 Angeles Times, the Washington Post, BuzzFeed, POLITICO, and Vox all scoffed at the notion on Thursday that they would pay Twitter for the feature, which has been

By Oliver Darcy, CNN Business ABC News on Thursday stunned staffers, laying off several senior executives and restructuring its newsroom amid a broader workforce reduction being carried out by its parent company Disney, people familiar with the matter told CNN. “Throughout the company, teams are being impacted by the downsizing that was announced several weeks

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 to avoid bankruptcy. If it’s not able to raise sufficient money from the offering, the home furnishings giant said Thursday it expects to “likely file for bankruptcy.” Bed

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, according to data from Freddie Mac released Thursday. The 30-year fixed-rate mortgage averaged 6.32% in the week ending March 30, down from 6.42% the week before. A year ago,