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 — In an unusual coincidence, the US jobs report was released on a holiday Friday […]
Minneapolis CNN — The US labor market has kept trucking right along even as other areas of the economy have slowed. But that once high-octane ride is showing some signs of wear and tear amid the Federal Reserve’s yearlong efforts to cool inflation by suppressing demand. Job cuts are mounting, hiring activity is losing momentum, […]
CNN — It has almost never been as hard to buy a new or used car in the United States as it is today, despite improving supply issues and inflation beginning to steady. Vehicle transaction prices — the price you actually end up paying after any dealer discounts or markups — have been climbing higher […]
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
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’s difficult to overstate the influence that Silicon Valley Bank had over the startup […]
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 […]
Dubai CNN — Saudi Arabian oil giant Aramco on Sunday reported a record annual net profit of $161.1 billion for 2022, up 46% from the year earlier, on higher energy prices, increased volumes sold and improved margins for refined products. The profits follow similar reports in February from international peers BP, Shell, Exxon Mobil and […]
London CNN — Credit Suisse can’t catch a break. In the latest piece of troubling news, the beleaguered Swiss bank has delayed the publication of its 2022 annual report following a “late call” from the US Securities and Exchange Commission on Wednesday evening. The SEC got in touch over revisions the bank had previously made […]