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 — Tuesday’s midterm elections come at a time of economic vulnerability for the United […]
New York CNN Business — Shares of used car marketplace Carvana continued to plummet Monday, falling over 50% over the past two trading days, following a volatile downward trend that began after the company shared third-quarter results Thursday. Shares dropped 15% Monday to close the day at $7.39 a share, continuing a downward trajectory that […]
New York CNN — While investors, business leaders and some economic models continue to warn a recession is imminent, Wall Street’s most powerful investment bank remains cautiously optimistic. Goldman Sachs told clients on Monday it still sees a 35% chance of a US recession in the next 12 months. While that is double the normal […]
London CNN Business — Ryanair carried a record number of passengers over the summer and says its budget friendly airfares will attract even more customers as Europe falls into a recession. The low-cost carrier posted its highest ever half-year profit on Monday, earning €1.37 billion ($1.36 billion) for the six months through September. That beat […]
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 — What will the Federal Reserve do at its meeting in December? Analysts can […]
Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. New York CNN Business — A little over a decade ago, the dominant narrative about the housing market was that Millennials simply weren’t buying. They were either too cheap, lazy, or […]
Hong Kong/London CNN Business — German Chancellor Olaf Scholz will arrive in China on Friday with a team of top executives and a clear message: business with the world’s second largest economy must continue. In a whirlwind one-day visit, Scholz is expected to meet with Chinese leader Xi Jinping and Premier Li Keqiang in Beijing. […]
Washington, D.C. CNN — The Federal Reserve approved a fourth-straight rate hike of three-quarters of a percentage point on Wednesday as part of its aggressive battle to bring down the white-hot inflation that is plaguing the US economy. The supersized hike brings the central bank’s benchmark lending rate to a new target range of 3.75% […]
Editor’s Note: This is an updated version of a story that originally ran on September 22, 2022. The Federal Reserve raised its benchmark interest rate for the sixth time in a row on Wednesday, to a range of 3.75% to 4%. While there may be plenty of downside in the form of higher borrowing costs […]
London CNN Business — The spike in shipping rates since the onset of the pandemic has been a huge boon for Maersk. But the Danish shipping giant is warning its business will have to endure tougher times soon. The company said Wednesday that a looming global recession is expected to reduce container demand by between […]
