Gas prices: How much longer will Americans pay sky-high prices?

New York CNN Business — Soaring gas prices have done little to slow US drivers’ purchases at the pump. But they could start to spend less on other goods and services, which would be a strong headwind for an increasingly shaky US economy, experts say. In the week ending this past Saturday, there was a … Read more

UST debacle will ‘probably be the end’ of algorithmic stablecoins

Luna, the sister cryptocurrency of controversial stablecoin TerraUSD, dropped to $0. The collapse of the algorithmic stablecoin TerraUSD has raised question about the future survival of similar crypto assets. Dan Kitwood | Getty Images News | Getty Images Algorithmic stablecoins like terraUSDwhich collapsed and sent shockwaves through the cryptocurrency market, are unlikely to survive, the … Read more

US job market divide boosts some workers’ prospects, puts others on notice

A help wanted sign is displayed in the window of a Brooklyn, New York business. Spencer Platt | Getty Images Cracks are forming in the US labor market as some companies look to curb hiring while others are desperate for employees. Microsoft, Twitter, Wayfair, Snap and Facebook-parent Meta recently announced they plan to be more … Read more

Apple union push faces setback; Atlanta organizers withdraw vote bid

Shoppers walk past an Apple Store at Franklin Park Mall during Black Friday. Shoppers go to stores to take advantage of Black Friday sales during the COVID-19 pandemic. Stephen Zenner | SOPA Pictures | LightRocket | Getty Images A union votes at an Apple store at the Cumberland Mall location in Atlanta is in doubt … Read more

Parole recommended for California follower of Charles Manson

SACRAMENTO, Calif. — A California parole panel recommended the release of Patricia Krenwinkel for the first time Thursday, more than five decades after she and other followers of cult leader Charles Manson terrorized the state and she wrote “Helter Skelter” on a wall using the blood of one of their victim victims. Krenwinkel, 74, was … Read more

Buy the dip or time to sell stocks? Here’s what Wall Street experts say

With the recent carnage on Wall Street, CNBC Pro asks strategists and investors what’s next for stocks and where they see pockets of opportunity in the weeks ahead. US stocks briefly fell into bear market on Friday, as the broad-based S&P 500 fell as much as 20.9% from its all-time high in January at one … Read more

Hyundai plans $5 billion investment in US on mobility technology

Drew Anger | Getty Images News | Getty Images Hyundai Motor said on Sunday it plans to invest $5 billion in the US by 2025 to further develop mobility technologies in areas like autonomous driving, robotics, and AI The investment comes alongside the automaker’s recent announcement of a plan to spend $5.54 billion to build … Read more

US economy is ‘nowhere near a recession this year,’ says economist

With turmoil in the markets, high inflation and impending interest rate hikes that will make borrowing money more expensive, many Americans are wondering if the economy is heading toward a recession. Goldman Sachs Chairman Lloyd Blankfein said last weekend that “it’s certainly a very, very high risk factor,” and consumers should be “prepared for it.” … Read more

DOE announces carbon capture funding to kickstart climate industry

CNN — The US Department of Energy is announcing a massive investment in direct air carbon removal projectsin hopes of kickstarting an industry that energy experts say is critical to getting the country’s planet-warming emissions under control. Direct air carbon removal projects are like giant vacuum cleaners that suck planet-warming carbon dioxide out of the … Read more

Americans can expect to pay a lot more for medical care in retirement

Lisafx | Istock | Getty Images A 65-year-old couple retiring this year can expect to spend an average of $315,000 in health-care and medical expenses in their retirement, according to a new estimate by Fidelity Investments. That’s 5% higher than last year’s estimate. While much of the increase this year came from higher Medicare Part … Read more