London CNN — As many as half a million workers are striking across Britain on Wednesday, closing schools, canceling university lectures and bringing most of the rail network to a standstill in what unions say will be the biggest single day of walkouts in more than a decade. Teachers, university staff, train drivers and civil […]
Hong Kong CNN — Three years of strict pandemic controls in China and a real estate crash have drained local government coffers, leaving authorities across the country struggling with mountains of debt. The problem has gotten so extreme that some cities are now unable to provide basic services, and the risk of default is rising. […]
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 are pretty bad at living in the moment. We’re currently in the thick […]
London CNN — China’s swift reopening after nearly three years of strict coronavirus controls could provide a much-needed boost to global economic growth, but may also stoke inflation just as it has shown signs of falling back. The revival of the world’s second largest economy — and its biggest consumer of commodities — threatens to […]
New York CNN — Chevron reported a record full-year profit of $36.5 billion, buoyed by high oil prices. Adjusted earnings for the year more than doubled from the $15.6 billion Chevron earned in 2021 and up 36% from its previous record profit set in 2011. The oil company’s fourth-quarter earnings came in at $7.9 billion, […]
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, […]
Tokyo Reuters — Japan’s core consumer prices in December rose 4.0% from a year earlier, double the central bank’s 2% target and hitting a fresh 41-year high, data showed on Friday, adding to recent growing signs of mounting inflationary pressure. The data will likely keep alive market expectations that the Bank of Japan (BOJ) will […]
New York CNN — Americans can once again buy cars for less than sticker price. But that doesn’t mean they’re finding bargains at their local dealerships. A year ago, record tight inventories meant 80% of buyers were paying more than the manufacturers’ suggested retail price (MSRP), or sticker price, according to data from Edmunds. For […]
Editor’s Note: A version of this story appears in today’s Meanwhile in the Middle East newsletter, CNN’s three-times-a-week look inside the region’s biggest stories. Sign up here. Abu Dhabi CNN — Egypt’s economic situation is so dire that the government is asking people to eat chicken feet. The Arab world’s most populous nation is suffering […]
New Delhi CNN — India will overtake China this year to become the world’s most populous country. The likelihood of India passing that major milestone within a few months shot up Tuesday, when China reported that its population shrank in 2022 for the first time in more than 60 years. This shift will have significant […]