Money

By Lindsay Isaac, CNN Buckingham Palace and Rupert Murdoch’s News Group Newspapers reached a secret agreement over historical phone hacking claims, court documents filed on behalf of Prince Harry allege. The documents, which claim that NGN privately reached an undisclosed settlement with Prince William, are part of the Duke of Sussex’s lawsuit against the media

Bryan Mena, CNN US consumer confidence worsened in April as Americans become more pessimistic about the job market. The Conference Board’s Consumer Confidence Index, which measures attitudes toward the economy and the job market, fell to 101.3 in April, down from 104 in March and marking the lowest level since July 2022. The business group’s

By Peter Valdes-Dapena, CNN Business The Chevrolet Bolt EV, General Motors first fully electric vehicle to be built and sold on a large scale, will go out of production by the end of this year. The Michigan assembly plant where it’s produced will be turned over to electric pickup truck production as part of GM’s

By Anna Bahney, CNN New home sales rose in March, climbing for the fourth month in a row as mortgage rates eased and buyers looked to new construction as an alternative to the tight inventory of existing homes for sale. Sales of newly constructed homes were up 9.6% in March from February, but were down

By Anna Bahney, CNN US home prices rose slightly in February, snapping a seven-month streak of month-over-month declines, according to the latest S&P CoreLogic Case-Shiller US National Home Price Index, released Tuesday. After seasonal adjustment, the national index posted a month-over-month increase of 0.2%. The national composite index now stands 4.9% below its June 2022

By Julia Horowitz, CNN Last month, the collapse of Silicon Valley Bank, the second-largest bank failure in US history, unleashed broader panic and raised fears the global financial system would seize up. Now, central banks are signaling that their immediate concerns have eased. The Bank of England, the Bank of Japan, the European Central Bank

By Nicole Goodkind, CNN Warnings of recession are widespread, inflation is still elevated and so are interest rates. Russia continues to wage war in Ukraine and markets are whipsawing around as investors try to make sense of it all. In short: The global macroeconomic picture is bleak. In spite of it all, dealmaking on Wall

By David Goldman, CNN 3M announced significant layoffs Tuesday as part of yet another major restructuring plan as the manufacturing sector prepares for a possible recession and slumping demand for goods. The manufacturing behemoth behind some consumer brands, including Post-It Notes and Scotch Tape, said it would lay off 6,000 staff around the world. Those

By Hanna Ziady, CNN UBS is still dealing with the fallout from the 2008 global financial crisis even as it prepares to take on the enormous challenge of absorbing Credit Suisse. Switzerland’s biggest lender said Tuesday it had set aside $665 million to cover litigation costs relating to past sales of US mortgage-backed securities, halving

By Elizabeth Stuart and Oliver Darcy, CNN Comcast said Monday it fired NBCUniversal CEO Jeff Shell after corroborating a female employee’s allegations of sexual harassment. An attorney representing CNBC anchor and senior international correspondent Hadley Gamble acknowledged Comcast investigated Shell because of her client’s complaint. CNN typically does not name victims of alleged sexual misconduct

By Nathaniel Meyersohn, CNN For decades, blue and white paper coupons defined Bed Bath & Beyond’s brand, popping up everywhere from the movie “Old School” to notorious mobster Whitey Bulger’s junk drawer. But the iconic 20%-off coupons, which became known as Big Blue, ultimately contributed to the cornerstone retailer’s fall into bankruptcy. On Wednesday, Bed