New York CNN — Three stocks with ties to former President Donald Trump surged Friday after two sources familiar with the case told CNN that Trump faces 30 counts related to business fraud in an indictment from a Manhattan grand jury. It’s not clear why investors sent shares of those companies soaring Friday, although the […]
Minneapolis CNN — The Federal Reserve’s preferred inflation gauge cooled back down in February after ticking up unexpectedly the month before, a welcome sign in the central bank’s long battle to bring down historic price increases. The Personal Consumption Expenditures price index rose 5% for the 12 months ended in February, lower than January’s downwardly […]
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 — It cost the Federal Deposit Insurance Corporation about $23 billion to clean up the […]
CNN — Just weeks after being named the 2022 CNN Hero of the Year, Nelly Cheboi traveled more than 7,000 miles to bring her award home. Far from the lights, cameras, and celebrities who surrounded her at the gala event in New York City, Cheboi was greeted by her own heroes: the students she serves […]
New York CNN — A US default would have such devastating economic and financial consequences that many observers dismiss the possibility out of hand. But investors are not ruling out such a nightmare scenario. Even though a default could wipe out millions of jobs and wreak havoc on Wall Street, the White House and Republican […]
Hong Kong CNN — A key index measuring the strength of China’s massive services sector jumped to its highest level in more than a decade, as the country’s economic recovery gained traction. The official non-manufacturing Purchasing Managers’ Index (PMI) soared to 58.2 in March from 56.3 in February, marking the best level since 2011, according […]
Hong Kong/London CNN — UBS is bringing back its former chief executive, Sergio Ermotti, to manage the hugely complex and risky task of completing the bank’s emergency takeover of rival Credit Suisse (CS). The surprise appointment, announced Wednesday, highlights the scale of the challenge facing the Swiss lender as it executes a first-of-its-kind merger of […]
CNN — Ghana’s President Nana Akufo-Addo has said that “substantial elements” of a draconian anti-LGBTQ bill being considered by its parliament “have been modified” after an intervention by his government. Akufo-Addo made the disclosure Monday at a joint press conference with US Vice-President Kamala Harris, who’s on a tour of the West African country. He […]
Inflation is ravaging shoppers’ wallets and the Federal Reserve has responded by instituting a regimen of painful interest rate hikes that could land the economy in a recession. But corporate profits are surging. US profit margins have reached record levels not seen since the immediate aftermath of World War II. Source link
CNN — With China finally reopening to the world, it’s time to dust off that travel wish list and start planning. Being one of the world’s most visited tourist destinations pre-pandemic, the country has long lured international travelers to popular attractions like Beijing’s Forbidden City, Xi’an’s Terracotta Warriors or Chengdu’s giant panda research base. And […]
