Smaller rate hikes likely to come in December, says Fed Chair Powell – CNN | CarTailz

CNN business — Federal Reserve could slow pace of aggressive rate hikes as early as December, Fed Chairman Jerome Powell said at a business forum on Wednesday. “The time to slow the pace of rate hikes could come as early as December’s meeting,” he said in a remark at the Hutchins Center on Fiscal and … Read more

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

US-China chip war spills over into Europe – CNN | CarTailz

Hong Kong CNN business — Two European chip deals have run into trouble over their ties to China, a sign of concern spreading in the West over possible Chinese control of critical infrastructure. Last week, the new owner of Britain’s largest chipmaker was asked to reverse its takeover just days after the sale of another … Read more

US-China chip war spills over into Europe – CNN | CarTailz

Hong Kong CNN business — Two European chip deals have run into trouble over their ties to China, a sign of concern spreading in the West over possible Chinese control of critical infrastructure. Last week, the new owner of Britain’s largest chipmaker was asked to reverse its takeover just days after the sale of another … Read more

Foxconn offers to pay workers to leave its largest iPhone factory after violent protests – CNN | CarTailz

Hong Kong CNN business — Foxconn has offered to pay newly hired workers 10,000 yuan ($1,400) to quit and leave the world’s largest iPhone assembly plant to quell protests that have seen hundreds clashed with security forces at the compound in central China. The Apple supplier made the offer Wednesday after dramatic scenes of violent … 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

Get ready for the most expensive travel season ever – CNN | CarTailz

new York CNN business — For travelers preparing for their first vacation trips since before the pandemic, prepare for sticker shock. Airfares are high. Gas prices in the US are at their highest this time of year. Hotel room and rental car prices are up 12% and 46%, respectively, from 2019. The good news is … 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

Mortgage Rates Plunge, Biggest Weekly Drop Since 1981 – CNN | CarTailz

Editor’s note: Freddie Mac, which has tracked weekly average mortgage rates since 1971 and has regularly made changes to its primary mortgage market survey, has changed the source of its November 17, 2022 data. Instead of surveying lenders, the weekly results are based on applications received from lenders submitted to Freddie Mac. Find out more … Read more

Britain brings austerity back. Here’s why – CNN | CarTailz

London CNN business — The last time a UK finance minister unveiled tax and spending plans, markets faltered and the country’s prime minister ended up losing her job. The new government is not aiming for a repeat. On Thursday, Chancellor Jeremy Hunt will present a budget aimed at restoring confidence in the UK’s ability to … Read more