Kroger and the Albertsons set out to build a food empire. The last supermarket mega-merger backfired – CNN | CarTailz

new York CNN business — When Christine Martinez found out last month that the Kroger and Albertsons were planning a nearly $25 billion merger, she thought, “Here we go again.” Martinez lost her job as a pharmacy technician following a previous supermarket mega-merger: Albertsons’ $9 billion merger with Safeway in 2014. That deal has since … Read more

Is this the last Christmas for Sears? -CNN | CarTailz

new York CNN business — Tracy Easterling spent about an hour on Sunday shopping at Sears, which used to be one of her favorite stores. In the end she had nothing to show but memories. Easterling was at Sears in her hometown of Jersey City, New Jersey, one of only 15 Sears full-line restaurants still … Read more

Mortgage rates fall for second straight week – CNN | CarTailz

Mortgage rates fell again this week after falling almost half a percentage point last week. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.58% in the week ended November 23, compared to 6.61% the week before. A year ago, the 30-year fixed rate was 3.10%. Mortgage rates have risen for most of 2022, spurred … Read more

Investors owe very little in 2022 – CNN | CarTailz

A version of this story first appeared in CNN Business’s Before the Bell newsletter. Not a subscriber? You can login exactly here. new York CNN business — Americans are getting ready to celebrate Thanksgiving. But investors in the United States (and the rest of the world, for that matter) don’t have much to thank for … Read more

Elon Musk’s $50B Trial Concludes Today – CNN | CarTailz

Washington, D.C CNN — The trial for Tesla’s shareholder lawsuit examining CEO Elon Musk’s unprecedented compensation package will conclude this afternoon. While it is possible for the judge to issue a decision from the bench, it may take weeks or months to issue a decision. Tesla awarded Musk a salary package in 2018 that helped … Read more

Elon Musk’s $50B Trial Concludes Today – CNN | CarTailz

Washington, D.C CNN — The trial for Tesla’s shareholder lawsuit examining CEO Elon Musk’s unprecedented compensation package will conclude this afternoon. While it is possible for the judge to issue a decision from the bench, it may take weeks or months to issue a decision. Tesla awarded Musk a salary package in 2018 that helped … Read more

Restaurant sales are increasing. But eating out is on the decline – CNN | CarTailz

new York CNN business — Chain restaurants reported increasing sales in the third quarter. But more sales doesn’t mean more customers. In fact, industry watchers are noting that traffic to restaurants has declined in recent months. That’s because many are cutting back on dining out and eating out more often as inflation weighs on consumer … Read more

FTX crash is eerily similar to Bernie Madoff scandal, says ex-regulator Sheila Bair – CNN | CarTailz

new York CNN business — In just three years, Sam Bankman-Fried grew FTX into a massive $32 billion crypto exchange backed by reputable investors. It only took a few days for all of this to implode into a sprawling bankruptcy filing. Sheila Bair, a top regulator during the 2008 financial crisis, told CNN there were … Read more

Customers who have trusted crypto giant FTX may be left with nothing – CNN | CarTailz

new York CNN business — As the dust settles on one of the most shocking financial implosions in history, one of the key unknowns of how much clients who don’t have access to their funds expect from FTX, the crypto exchange that filed for bankruptcy last week expected reimbursement. According to legal experts, the answer … Read more

Tesla goes to court to defend Elon Musk’s salary – CNN | CarTailz

Washington, D.C CNN — Tesla went to court today to defend the huge compensation package that helped make CEO Elon Musk the richest person on earth. Delaware’s Court of Chancery in Wilmington will host the week-long trial to review the 2018 compensation plan that the automaker’s board of directors prepared for Musk. The trial began … Read more