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Mortgage rates rose for the fifth consecutive week, reaching yet again the highest level since the financial crisis. The average rate on a 30-year fixed mortgage climbed to 6.29%, according to a survey of lenders released Thursday by Freddie Mac. It was the second week in a row that rates topped 6%. The last time rates were this high was October 2008, when the U.S. was deep in recession. The sharp rise is another…

Ford showed its F-150 Lightning electric pickup truck at the North American International Auto Show in Detroit Saturday. Photo: Erin Kirkland/Bloomberg News…

Homeowners with low mortgage rates are balking at the prospect of selling their homes to borrow at much higher rates for their next homes, a development that could limit the supply of houses for sale for years to come.Housing inventory has risen from record lows earlier this year as more homes sit on the market longer. But the number of newly listed homes in the four weeks ended Sept. 11 fell 19% year-over-year, according to real-estate brokerage Redfin Corp. That is an indication that…

LONDON—Central banks and governments around the world moved to increase interest rates or support their currencies after the Federal Reserve raised rates and signaled that they would remain high for some time, giving fresh impetus to an already strong dollar. The Bank of England was the latest to adjust rates higher, raising its key interest rate for the seventh consecutive time Thursday. Only the Bank of Japan—generally considered a perennial dove—and the often contrarian Turkish central bank bucked the trend, though…

Chobani said the new CFO will help take the company public if market conditions improve. Photo: Stuart Ramson/Associated Press…

Kohl's CEO Michelle Gass discussed moves by the retailer this summer. Photo: Angela Peterson/Milwaukee Journal Sentinel/USA TODAY NETWORK/REUTERS…

The Swiss company behind well-known virtual-private-network service Proton VPN is pulling its servers from India, the latest provider to do so in response to new government rules that companies and rights groups say threaten users’ privacy. India’s agency overseeing computer security will effective Sunday require VPN operators in the country to collect information such as customers’ names, email addresses and the IP addresses they use to connect to the internet. The companies must…

FedEx Corp. FDX -2.64% said a slowdown in the global economy has hurt its business. Investors, analysts and customers of the company said they are seeking clarity on how deep the problems are and what its response will be.  The carrier is due to report its first-quarter earnings after U.S. stock markets close Thursday, a week after cutting its full-year financial outlook and revealing that package-delivery volumes in Europe, Asia and the U.S. were weaker than it…

With the holiday shopping period on the horizon, Target and other retailers are poised to deal with softened demand, some of it driven by consumers pulling back because of inflation. Photo: David Paul Morris/Bloomberg News…

Phoenix Suns and Mercury owner Robert Sarver said Wednesday that he would begin the process of finding buyers for the basketball teams, after an investigation into his workplace conduct prompted the league to suspend him for a year and fine him $10 million.The investigation commissioned by the NBA found that Sarver had uttered racial slurs “when recounting the statements of others,” harassed and berated employees, exposed himself and commented on female workers’ bodies and ability to do their jobs after a pregnancy. …