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 […]
CNN — In rare good news for the planet, Earth’s ozone layer is on track to recover completely within decades, as ozone-depleting chemicals are phased out across the world, according to a new United Nations-backed assessment. The ozone layer protects the planet from harmful ultraviolet rays. But since the late 1980s, scientists have sounded the […]
Hong Kong CNN — China’s heavy-handed crackdown on tech giants is coming to an end and the country’s economic growth is expected to be back on track soon, according to a top central bank official. The crackdown on fintech operations of more than a dozen internet companies is “basically” over, said Guo Shuqing, the Communist […]
London CNN — Germany just took a step closer to finding a long-term, greener replacement for Russian natural gas and coal. German power producer RWE (RWEOY) and Norwegian state-owned energy firm Equinor on Thursday announced plans to build hydrogen-fueled power plants in Germany over the next few years, as well as a major pipeline between […]
London CNN — European and Asian stocks pushed higher on the first major trading day of 2023 as investors try to look beyond a gloomy outlook for the world economy, China’s worst Covid outbreak and stubbornly high inflation in Europe. But after a positive start, Wall Street succumbed to fear again. US stocks opened higher […]
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 — Welcome to the first trading day of 2023. Markets are pushing higher but don’t […]
New York CNN — Canada in 2023 is closing its doors to foreign investors who want to purchase homes. A new Canadian law took effect January 1 that essentially bans foreign buyers from buying residential properties as investments for two years. The law was passed because of a spike in Canadian home prices since the […]
London CNN — In May 2017, Sophie Bichener did what many in their twenties are unable to do: buy a home. She paid around £230,000 (around $295,000 at the time) for her two-bedroom apartment in a high-rise building in a town north of London, where a train could get her to work in the capital […]
CNN — As the new year begins, a number of popular electric vehicles, specifically some Tesla and General Motors models, could be eligible for $7,500 worth of tax credits they weren’t eligible for in 2022. But that eligibility may last only last a few months. That’s because limitations on new tax credits enacted in August […]
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 […]