Hong Kong CNN — US regulators have gained full access to the audits of Chinese companies for the first time, reducing the threat that tech giants such as Alibaba (BABA) and JD.com (JD) could be kicked off US stock exchanges. The announcement marks a major breakthrough in a yearslong standoff over how Chinese companies listed […]
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 — Investors around the world have been trying to adjust their portfolios to contend with […]
Washington, DC CNN — The Federal Reserve approved a half-point interest rate hike on Wednesday, a smaller increase than in recent months and an acknowledgment that inflation is finally easing. The increase marks a shift for the central bank after an unprecedented year that includes seven-straight rate hikes as part of an aggressive campaign to […]
London CNN Business — An electric scooter service just became the only company to pull off an initial public offering in Russia this year. Whoosh, which made its debut on Wednesday, said that it had raised 2.1 billion rubles ($32.6 million) through the listing, giving it a valuation of 20.6 billion rubles ($320 million). “In […]
New York CNN — As federal prosecutors seek to imprison former crypto darling Sam Bankman-Fried, Sen. Elizabeth Warren is attempting to push through Congress a bipartisan crackdown on money laundering in the crypto industry. The Massachusetts Democrat is teaming up with Republican Sen. Roger Marshall of Kansas to introduce new legislation on Wednesday that would […]
New York CNN — The Federal Reserve is expected to raise interest rates by half a point at the conclusion of its two-day policy meeting on Wednesday, an indication that the central bank is pulling back on its aggressive stance as signs begin to emerge that inflation may be easing. Although that increase would be […]
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 Business — It seems like you can’t go anywhere these days without colliding headfirst into […]
New York CNN Business — Here’s more bad news for Tesla CEO Elon Musk — as if he needs any. Investors who took short positions in Tesla stock have made an $11.5 billion profit so far this year, according to Wall Street analytics firm S3 Partners, as Tesla shares lost about half their value. That’s […]
Hong Kong CNN Business — Chinese President Xi Jinping is visiting Saudi Arabia this week for the first time in nearly seven years, during which he is expected to sign billions of dollars of deals with the world’s largest oil exporter and meet leaders from across the Middle East. The visit is a sign that […]
CNN Business — Ramesh “Sunny” Balwani, the former chief operating officer of failed blood testing startup Theranos, is set to be sentenced on Wednesday for fraud, marking an end to the stunning downfall of a high-flying Silicon Valley company that resulted in the rare convictions of two tech executives. The sentencing comes weeks after Elizabeth […]