Minneapolis CNN — Eggs, milk, butter, flour … if you were making pancakes last year, it would have cost you. Food prices surged in 2022. Grocery prices remain stubbornly high (and nearly double the rate of overall inflation) at 11.8% year over year, according to data released Thursday by the Bureau of Labor Statistics. Blame […]
London CNN — The global economy has endured a tough year, with decades-high inflation sapping post-lockdown spending and pushing central banks to hike borrowing costs at an unprecedented clip to bring it under control. Their campaign to manage prices may be working — but potentially at a sizable cost in 2023. “It is likely that […]
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 — This hasn’t been a good year for the equities market. The S&P 500 is […]
London CNN Business — Europe has agreed to a cap on natural gas prices, following months of debate over whether the measure will protect European households and businesses from extreme price spikes as temperatures plummet. In a Monday meeting, EU energy ministers agreed to trigger a cap on the price of month-ahead natural gas futures […]
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 — It seems like you can’t go anywhere these days without colliding headfirst into […]
Hong Kong CNN Business — Chinese President Xi Jinping is visiting Saudi Arabia this week for the first time in nearly seven years, during which he is expected to sign billions of dollars of deals with the world’s largest oil exporter and meet leaders from across the Middle East. The visit is a sign that […]
New York CNN Business — The US trade gap edged only slightly higher in October than the month before, to $78.2 billion. The latest reading was up just 5.4%, less than half the pace of increase from the revised September reading, when the trade deficit jumped by 12.7% to $74.1 billion. A strong dollar and […]
London CNN Business — Indonesia produces more nickel than any other country. As demand soars for batteries to power the energy transition, that presents a huge opportunity, and the archipelago nation of 276 million people intends to take advantage of it. With the electric vehicle revolution driving up demand for key battery metals such as […]
London CNN Business — Most Russian crude oil exports to Europe are now banned, marking the boldest effort yet by the West to pile financial pressure on President Vladimir Putin as his brutal war in Ukraine enters its tenth month. The oil embargo, which was agreed upon in late May, took effect in the European […]
Hong Kong CNN Business — Global traders are increasingly feeling more bullish on China, as they bet the country will gradually unwind Covid restrictions following widespread protests. Multiple cities across China loosened Covid-19 restrictions over the weekend. Starting Monday, Shanghai residents will no longer require a negative Covid test result to enter outdoor venues including […]