New York CNNBusiness — There’s at least one group of shoppers excitedly hitting malls this holiday season — and they don’t seem to be too bothered about pesky inflation eating into their discretionary dollars. They’re Gen Z. And the way they shop matters. This cohort of consumers born between 1997 and 2012 is among the […]
London CNN Business — The European Union has reached a consensus on the price at which to cap Russian oil just days before its ban on most imports comes into force. News of the deal, which had needed approval from holdout Poland, was confirmed on Twitter by the president of the European Commission, Ursula von […]
I don’t know about y’all, but I could use some hopeful news today. So here’s what I’ve got: Inflation appears to be — really, this time — easing. Source link
New York CNN — Prices at the pump continue to plunge, dropping the US average for gasoline below where it was when Russia invaded Ukraine. A gallon of regular gas now fetches $3.47 nationally, according to AAA. That is below the $3.54 average on February 24, the day Russia invaded Ukraine. That is down about […]
New York CNN Business — Americans dished out for toys, televisions and clothing on Black Friday and into the holiday weekend, despite decades-high inflation and a potential recession looming in 2023. The National Retail Federation, a trade group for the retail industry, said a record 196 million Americans shopped in stores and online over the […]
London CNN Business — US oil prices have fallen to their lowest level since December 2021 on concerns that protests in China against Covid-19 lockdowns will dent demand. West Texas Intermediate crude oil futures, the US benchmark, slid 2.7% on Monday to trade close to $74 a barrel, a level last reached in December 2021. […]
New York CNN Business — Online Black Friday sales in the United States topped a record-breaking $9.12 billion this year, according to Adobe Analytics, kicking off a solid start to the holiday shopping season despite inflation and other economic concerns. Adobe, which tracks sales on retailer websites, said that this year’s Black Friday online sales […]
London CNN Business — Allies of Ukraine want to put a price limit on Russian oil. But there’s a problem: They can’t agree on a number that would actually pile pressure on the Kremlin. The West’s biggest economies agreed earlier this year to cap the price of Russia’s most valuable export and vowed to hash […]
New York CNN Business — Americans are getting ready for food, family and football on Thursday, but investors were still holding off until Wednesday afternoon before starting to give thanks. That’s because the Federal Reserve released the minutes from its latest meeting at 2pm ET Wednesday, which provided more clues about the central bank’s thinking […]
Mortgage rates dropped again this week, after plunging nearly half a percentage point last week. The 30-year fixed-rate mortgage averaged 6.58% in the week ending November 23, down from 6.61% the week before, according to Freddie Mac. A year ago, the 30-year fixed rate was 3.10%. Mortgage rates have risen throughout most of 2022, spurred […]