Money

By Anna Bahney, CNN Washington, DC (CNN) — The residential real estate market tumbled in 2023, as soaring interest rates steadily slowed sales activity — but home prices still hit a record high. The median home sale price in 2023 was $389,800, up about 1% from 2022 and the highest on record, according to data

By Jordan Valinsky, CNN New York (CNN) — Wayfair is laying off 1,650 employees, amounting to 13% of its global workforce, as the online home goods retailer struggled to rebound following its success amid pandemic lockdowns. CEO Niraj Shah, who recently went viral for telling his employees to work harder, said in an open letter

CNN By Allison Morrow, CNN Lansdale, Pennsylvania (CNN) — Rachael Gambino and Garrett Mazzeo planned their financial life by the book: They went to college, paid down debt, saved aggressively, got married, bought a house, started a family. The dream. But sitting at the kitchen table of their suburban Pennsylvania home — an asset they feel both

By Allison Morrow, CNN Lansdale, Pennsylvania (CNN) — Rachael Gambino and Garrett Mazzeo planned their financial life by the book: They went to college, paid down debt, saved aggressively, got married, bought a house, started a family. The dream. But sitting at the kitchen table of their suburban Pennsylvania home — an asset they feel both lucky

By Matt Egan, CNN (CNN) — Even Eminem might cringe at how much it costs to witness the Lions make their Cinderella run for the Super Bowl. Playoff tickets are fetching an average of $1,097 for the Lions home game against the Tampa Bay Buccaneers on Sunday in Detroit, easily the most expensive Divisional playoff

By Michelle Toh, CNN Hong Kong (CNN) — TSMC says its second factory in Arizona will be delayed, marking another setback for the world’s largest chipmaker and its role in US President Joe Biden’s bid to boost American manufacturing. The facility will now be operational in 2027 or 2028, compared to previous expectations of a

By Oliver Darcy, CNN (CNN) — Staffers at the Los Angeles Times will stage a one-day walkout on Friday after the newspaper’s management indicated that it expects to soon lay off employees as it struggles financially. The act of protest will be the first such work stoppage in the outlet’s 143-year history, said the Guild,

By Oliver Darcy, CNN (CNN) — Casey Newton won’t compromise on Nazis. In a world in which it can be difficult to read the moral compass of some legacy news organizations, the renowned technology journalist and founder of the independent digital news outlet Platformer has taken decisive action to ensure his media company lives up to its own stated

By Parija Kavilanz, CNN New York (CNN) — Walmarts are huge. Thousands of square feet, thousands of products, thousands of shoppers. Now, Walmart is saying it’s going to pay the managers of those stores, charged with that huge responsibility, accordingly, with a new average salary of $128,000 a year. Walmart said Thursday it is boosting

By Nathaniel Meyersohn, CNN New York (CNN) — Veteran department-store chain Macy’s is laying off about 3.5% of its workforce, or roughly 2,350 employees, and closing five stores as it continues to shrink its massive retail business for the online-shopping era. “As we prepare to deploy a new strategy to meet the needs of an

By Nathaniel Meyersohn, CNN New York (CNN) — The clunky old cable box doesn’t make sense anymore. Big, ugly, and heavy, they seem to have about as much place working with a modern TV as a DVD player. Cable companies are trying to catch up with the times, though, and now want you to replace

By Brian Fung, CNN (CNN) — Google CEO Sundar Pichai warned employees to expect additional layoffs in the months to come as the tech giant reorients itself toward artificial intelligence “and beyond.” In a companywide memo obtained by CNN, Pichai said Wednesday that the job cuts — which have already affected hundreds of Google employees in the