Category Archives: CNN – Business

Sky high home prices push Fannie Mae and Freddie Mac to back loans of nearly $1 million
David Paul Morris/Bloomberg/Getty Images

Sky high home prices push Fannie Mae and Freddie Mac to back loans of nearly $1 million

Home prices across the US have seen stratospheric increases within the past year as demand for homes spiked and inventory tanked. And those higher prices have pushed mortgage giants Fannie Mae and Freddie Mac to raise the limits of government-backed loans to a record level for 2022, with the maximum loan limit at nearly $1…MORE

Labor group says Amazon massively underreported Covid cases contracted at work
Johannes Eisele/AFP/Getty Images

Labor group says Amazon massively underreported Covid cases contracted at work

Amazon had at least 20,000 employees test positive for Covid-19 last year. But it reported that only 27 of those cases were contracted while the employees were at work. The company’s reporting amounts to a “hidden pandemic,” according to a coalition of four unions interested in establishing representation for Amazon workers. “The company systematically failed…MORE

Kiss those juicy post-holiday clearance sales goodbye
Angela Weiss/AFP/Getty Images

Kiss those juicy post-holiday clearance sales goodbye

If you’re the kind of shopper who holds out for the bigger and better year-end deals after Christmas, you could be out of luck this season. Come January, those ridiculously-deep clearance sales might be much harder to find. Blame the messed up global supply chain. January is the golden month for markdowns and scoring some…MORE

Omicron and the Fed might finally kill this bull market
Richard Drew/AP

Omicron and the Fed might finally kill this bull market

So much for a year-end Santa Claus rally? The broader market has pulled back in the past week as worries about the Omicron variant of Covid-19 have rattled investors’ confidence. These latest coronavirus concerns have traders wondering if this is finally the end of the long running bull market. Comments from Federal Reserve chair Jerome…MORE

Home prices jumped 19.5% in September
Gene J. Puskar/AP

Home prices jumped 19.5% in September

Home prices rose 19.5% in September compared to a year ago, according to the S&P CoreLogic Case-Shiller national home price index. But even that huge increase was a slight slowdown from August, when prices rose by 19.8%. September marked the first time year-over-year gains have decreased since May, according to the report. “Housing prices continued…MORE

The pandemic will continue to rage as long as the WTO keeps bickering over vaccine rules
Jim Watson/AFP/Getty Images

The pandemic will continue to rage as long as the WTO keeps bickering over vaccine rules

If international organizations are subject to karma, last week’s abrupt postponement of the World Trade Organization (WTO) Ministerial Conference, the body’s first major decision-making gathering in four years, was fated to be. News of the emergence of Omicron, the latest coronavirus variant, not only caused the meeting to be delayed but it also shined a…MORE

Travel is back, but Omicron could change everything
Jim Watson/AFP/Getty Images

Travel is back, but Omicron could change everything

Just when US airlines thought they were on the verge of profitability again, along came the Omicron variant to put those hopes in doubt. Leisure travel is back to near pre-Covid levels. This Thanksgiving marked the busiest week for air travel since the start of the pandemic. But major US airlines had been counting on…MORE

Jerome Powell: The Fed may wind down its stimulus sooner than expected
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Jerome Powell: The Fed may wind down its stimulus sooner than expected

The Federal Reserve might end its pandemic-era stimulus sooner than expected, Chairman Jerome Powell told the Senate Banking Committee on Tuesday. The central bank announced a tapering of its monthly asset purchases at its monetary policy update earlier this month, cutting bond buying by $10 billion for Treasury securities and $5 billion for agency mortgage-backed…MORE

Amazon, Walmart and the world’s biggest retailers are making port congestion and pollution worse, new report finds
Mario Tama/Getty Images

Amazon, Walmart and the world’s biggest retailers are making port congestion and pollution worse, new report finds

The supply chain is facing major blockages, and container ships are heaping pollution into communities near the congested ports. The biggest offenders are, unsurprisingly, the world’s biggest retailers, according to a new report Tuesday conducted by environmental organizations Stand.earth and Pacific Environment. The report shows that goods imported to the United States by Walmart, Target,…MORE

The FTC wants information from Amazon, Walmart and other giant stores about empty shelves and rising prices
Mario Tama/Getty Images

The FTC wants information from Amazon, Walmart and other giant stores about empty shelves and rising prices

The Federal Trade Commission said Monday that it is ordering Amazon, Walmart, Kroger, Procter & Gamble, Tyson, Kraft Heinz and several major wholesalers to grocery stores to turn over information in a wide-ranging inquiry examining the causes of empty shelves and surging prices in the United States. The antitrust watchdog is looking into whether supply…MORE

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