iab-financial crisis

Retail spending fell in March as consumers pull back | CNN Business

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Retail spending fell in March as consumers pull back | CNN Business

Washington, DC CNN  —  Spending at US retailers fell in March as consumers pulled back after the banking crisis fueled recession fears. Retail sales, which are adjusted for seasonality but not for inflation, fell by 1% in March from the prior month, the Commerce Department reported on Friday. That was steeper than an expected 0.4% … Read more

What the banking crisis means for mortgage rates | CNN Business

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What the banking crisis means for mortgage rates | CNN Business

Washington CNN  —  Mortgage rates have taken would-be buyers on a ride this year — and it’s only March. Generally, home buyers can anticipate mortgage rates to move down through the rest of this year as the banking crisis drags on, which could cool down inflation. But there are bound to be some bumps along … Read more

The forgotten rescue plan that could prevent another SVB-like collapse | CNN Business

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The forgotten rescue plan that could prevent another SVB-like collapse | CNN Business

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. New York CNN  —  After Silicon Valley Bank and Signature Bank failed, the US government stepped in with … Read more

Silicon Valley Bank collapses after failing to raise capital | CNN Business

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Silicon Valley Bank collapses after failing to raise capital | CNN Business

New York CNN  —  Silicon Valley Bank collapsed Friday morning after a stunning 48 hours in which its capital crisis set off fears of a meltdown across the banking industry. Its failure marks the largest shutdown of a US bank since 2008, when Washington Mutual fell during the financial crisis. California regulators closed down the … Read more

The US economy grew by 2.9% in the fourth quarter, more than expected | CNN Business

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The US economy grew by 2.9% in the fourth quarter, more than expected | CNN Business

Minneapolis CNN  —  The US economy expanded again during the fourth quarter, registering solid growth to end 2022 even as consumers and businesses battled historically high inflation and rising interest rates. Gross domestic product — the broadest measure of economic activity — increased at an annualized rate of 2.9% from October to December last year, … Read more

Europe could dodge a recession. But the UK is in a mess | CNN Business

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Europe could dodge a recession. But the UK is in a mess | CNN Business

London CNN  —  Business activity across the 20 countries that use the euro expanded in January for the first time in six months, according to data published Tuesday, providing fresh evidence that Europe’s economy could confound expectations and dodge a recession this year. An initial reading of the eurozone’s Purchasing Managers’ Index, which tracks activity … Read more