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 […]
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 […]
Hong Kong CNN — For the past decade, China has lent massive sums to governments across Asia, Africa and Europe, growing its global influence through infrastructure megaprojects and becoming one of the world’s biggest creditors. Now, a new study says Beijing has also become a major emergency rescue lender to those same countries, many of […]
New York CNN — America’s biggest companies rushed to strengthen their gun safety policies after the mass shooting at a high school in Parkland, Florida, in 2018. Dick’s Sporting Goods stopped selling semi-automatic, assault-style rifles at stores. Citigroup put new restrictions on gun sales by business customers. A year later, after mass shootings at a […]
Editor’s Note: The views expressed in this commentary are solely those of the writer. CNN is showcasing the work of The Conversation, a collaboration between journalists and academics to provide news analysis and commentary. The content is produced solely by The Conversation. CNN — After a few difficult years of lockdowns and travel restrictions, people […]
Editor’s Note: This is excerpted from a story that originally ran on March 22, 2023. New York CNN — Banking has been top of mind for many people in the wake of some surprise bank failures and moves by US regulators to boost confidence in the financial system. But the Federal Reserve’s decision on Wednesday […]
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 — Economists are growing concerned about the $20 trillion commercial real estate (CRE) industry. After […]
CNN — Markets seesawed severely this week when two of the US economy’s most prominent leaders gave seemingly contradictory statements on the health of the banking sector. Expect more turbulence ahead. Fresh off of the Federal Reserve’s decision on Wednesday to hike interest rates by a quarter point, Fed Chairman Jerome Powell said in the […]
