Hong Kong CNN — China’s central bank has made a surprise cut to the amount of money that banks must keep in reserve, in an effort to keep money flowing through the financial system and prop up the economy. The People’s Bank of China (PBOC) said it would cut the reserve requirement ratio (RRR) for […]
Hong Kong CNN — New Zealand will ban TikTok on all devices with access to its parliament by the end of this month, becoming the latest country to impose an official bar on the popular social media platform owned by a Beijing-based tech conglomerate. Led by the United States, a growing number of Western nations […]
Washington, DC CNN — US home building jumped higher in February, turning around after five consecutive months of falling. Housing starts, a measure of new home construction, rose by 9.8% in February from January. But that’s still down 18.4% from a year ago, according to data released Thursday by the Census Bureau. Starts in January […]
Washington CNN — The United Kingdom banned TikTok from official government devices on Thursday, adding to similar restrictions imposed by allies in Canada, the European Union and the United States. The social media app is not widely used by UK officials, according to a government announcement, but the measure reflects concerns about TikTok’s links to […]
London CNN — UK financial markets were spooked again Wednesday — although, unlike last fall, the turmoil was unrelated to a new government budget aimed at reversing Britain’s economic decline. UK finance minister Jeremy Hunt was careful to avoid the drama that engulfed his predecessor’s September “mini” budget as he laid out new spending and […]
New York CNN — Nervous bank customers have rushed to the safety of big banks in the wake of a pair of high-profile bank failures that have shaken confidence in the system. Bank of America (BAC), Wells Fargo (WFC) and Citigroup (C) have all experienced a significant increase in deposits since Silicon Valley Bank ran […]
New York CNN — A key measure of inflation fell dramatically in February, according to the latest Producer Price Index, which tracks what America’s producers get paid for their goods and services. Producer price increases slowed to an annual pace of 4.6% last month, significantly lower than the downwardly revised 5.7% in January, the Labor […]
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 […]
New York CNN — Moody’s Investors Service cut its outlook for the entire US banking sector and placed six US banks on review for potential credit rating downgrades, in the wake of last week’s collapse of Silicon Valley Bank. The credit ratings firm said it expects more banks will come under pressure after SVB’s failure […]
Editor’s Note: Sign up for Unlocking the World, CNN Travel’s weekly newsletter. Get the latest news in aviation, food and drink, where to stay and other travel developments. CNN — From a cabin concept that completely eradicates the middle seat to a swanky design that takes single-aisle aircraft business class to a new level, this […]