Opinion: The Fed’s rate hikes could soon be coming to an end

Editor’s Note: Steven Kamin is a senior fellow at the American Enterprise Institute (AEI), where he studies international macroeconomic and financial issues. He served as director of the international finance division of the Federal Reserve from 2011 to 2020. The opinions expressed in this commentary are his own. View more opinion on CNN. CNN — … Read more

Job openings unexpectedly jump to 11 million in December

Minneapolis CNN — Despite the looming threat of recession and the cacophony of mass layoff announcements, US businesses still need workers — 11.01 million of them. The number of available jobs unexpectedly rose in December, climbing from a revised 10.44 million openings in November and exceeding economists’ expectations of 10.25 million, according to Bureau of … Read more

Europe grew faster than the US last year. Its markets are outperforming too

London CNN — Europe’s stock markets have beat Wall Street by the biggest margin in more than three decades over recent months as its economy looks set to dodge a recession many thought inevitable just a few weeks ago. Since late September, European market benchmarks have risen by 20 percentage points more than Wall Street … Read more

Why a tiny American firm is taking aim at an Indian conglomerate

Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. new york CNN — Asia’s richest man is in the crosshairs of a research firm whose very name evokes panic. Hindenburg Research — named after the 1937 airship disaster — is … Read more

Kevin McCarthy and House GOP weigh debt ceiling demands ahead of Biden meeting

CNN — Speaker Kevin McCarthy and his House GOP allies are hashing out their initial demands to raise the national debt limitdiscussing steep cuts to domestic programs and a trim to defense spending – all the while steering clear of two programs to avoid voter blowback: Medicare and Social Security. McCarthy has been hearing suggestions … Read more

Some auto insurers are refusing to cover some Hyundai and Kia models

CNN — Progressive and State Farm, two of America’s largest auto insurers, are refusing to write policies in certain cities for some older Hyundai and Kia models that have been deemed too easy to steal, according to the companies. Several reports say the companies have stopped offering insurance on these vehicles in cities that include … Read more

Mortgage rates tick down ahead of Fed meeting next week

Washington, DC CNN — Mortgage rates fell slightly this week, staying almost flat ahead of the Federal Reserve’s closely watched interest rate-setting meeting next week. The 30-year fixed-rate mortgage averaged 6.13% in the week ending January 26, down from 6.15% the week before, according to data from Freddie Mac released Thursday. A year ago, the … Read more

DOJ sues Google over its dominance in the online advertising market

CNN — The Justice Department and eight states sued Google on Tuesday, accusing the company of harming competition with its dominance in the online advertising market and calling for it to be broken up. The move marks the Biden administration’s first blockbuster antitrust case against a Big Tech company. The eight states joining the suit … Read more

Pandemic unemployment benefits fraud likely tops $60 billing. House GOP to start investigating next week

CNN — More than $60 billion may have been paid out in fraudulent unemployment insurance benefits during the Covid-19 pandemic, according to a report released Monday by the US Government Accountability Office. The watchdog agency, however, warned that the estimate has limitations and should be interpreted with caution. The actual amount of pandemic unemployment benefits … Read more

Blizzard China: Millions of players lose access to ‘World of Warcraft’ and other games as it goes dark

Hong Kong CNN — Millions of players in China have lost access to the iconic “World of Warcraft” franchise and other popular video games, as Blizzard Entertainment’s servers in the country went offline after two decades. The company’s services in China were suspended at midnight local time on Tuesday, marking the end of an era … Read more