CNN – Business/Consumer

By Paul R. La Monica, CNN Business Good news for student loan holders is bad news for anyone who happens to be an investor in fintech company SoFi. Shares of SoFi tumbled 7% Thursday after the Biden administration extended a moratorium on federal student loan repayments. SoFi offers private student loans and refinancings to undergraduates

By Anneken Tappe, CNN Business America’s labor market is on fire. There are far more available jobs than workers and the latest data on initial weekly unemployment claims underscores that imbalance. Initial claims for jobless benefits fell to 166,000 in the week ended April 2, adjusted for seasonal swings, the Labor Department reported Thursday. That

By Anna Bahney, CNN business Mortgage rates rose again this week, inching closer to 5%. The 30-year fixed-rate mortgage averaged 4.72% in the week ending April 7, up from 4.67% the week before, according to Freddie Mac. That’s the highest since December 2018. Rates have jumped this year at a pace not seen in decades.

By Chris Isidore, CNN Business Christine Lagarde, the president of the European Central Bank, disclosed Thursday that she has tested positive for Covid. Lagarde, 66, announced her positive test in a tweet. She said that she is full vaccinated and has received a booster shot. “My symptoms are thankfully reasonably mild,” she said. “I will

CNN By Brian Stelter, CNN Business Starting in May, MSNBC’s highest-rated star Rachel Maddow will be hosting her 9 p.m. Eastern show just one day a week — on Mondays — while she pivots to other projects for parent company NBCUniversal. The new schedule has an end-of-an-era feel for MSNBC, since so much of the

By Julia Horowitz, CNN Business For years, billionaire investor Warren Buffett has been sitting on a mountain of cash. But with stocks at record highs, he struggled to find deals that caught his eye. Now, with many other investors in selling mode, he’s going shopping. What’s happening: Buffett’s Berkshire Hathaway just disclosed that it bought

By Rob Frehse and Brian Vitagliano, CNN Alex Jones was deposed over two days this week in the defamation suit brought against him by families of victims of the Sandy Hook shooting, according to a court filing from two attorneys representing Jones. The deposition, which occurred Tuesday and Wednesday, came less than a week after

By Oliver Darcy, CNN Business NBC News journalists are troubled by and have expressed dismay to network executives about MSNBC’s intention to hire White House press secretary Jen Psaki when she exits the Biden administration, people familiar with the matter told CNN. Noah Oppenheim, the NBC News president, even held an impromptu phone call Friday

CNN By Oliver Darcy, CNN Business NBC News journalists are troubled by and have expressed dismay to network executives about MSNBC’s intention to hire White House press secretary Jen Psaki when she exits the Biden administration, people familiar with the matter told CNN. Noah Oppenheim, the NBC News president, even held an impromptu phone call

CNN, CNNBUSINESS By Richard Quest Ever since governments across the globe started slapping sanctions on Russia over its invasion of Ukraine, cryptocurrencies have been under scrutiny. The concern is that Russian banks and individuals who have had their assets frozen could potentially use the digital money to evade sanctions. The US and European Union rely

By Richard Quest Ever since governments across the globe started slapping sanctions on Russia over its invasion of Ukraine, cryptocurrencies have been under scrutiny. The concern is that Russian banks and individuals who have had their assets frozen could potentially use the digital money to evade sanctions. The US and European Union rely heavily on

CNN By Nicole Goodkind, CNN Business Wall Street’s biggest players have had a rough start to the year. All of the biggest US banks saw profits take a hit in the first three months of 2022, ending a pandemic-era boom. Citi, Goldman Sachs, Morgan Stanley and Wells Fargo all announced large year-over-year profit declines in

By David Goldman, CNN Business The West is tapping more of its emergency oil reserves to help wean itself off Russian crude. The International Energy Agency announced Wednesday it would supply the oil market with 60 million additional barrels of crude from its emergency stockpiles. The Paris-based IEA, which monitors energy supplies for the world’s

CNN, CNN BUSINESS By David Goldman, CNN Business Oil prices may have met their match — for now, at least. Crude futures are tumbling yet again, sinking nearly 3%. After nearing $140 a barrel in early March and topping $120 as recently as two weeks ago, Brent futures have fallen in nearly a straight line

By Frank Pallotta, CNN Business Covid is in a lull in the United States: Masks are often an afterthought, people are going out again and some of the worst-hit industries during the pandemic — like movie theaters — are starting to get back to normal. That’s why so much is riding on one particular blockbuster: