London CNN Business — European inflation has accelerated to a new record high as energy and food prices in the region continue to skyrocket. Prices across the 19 countries that use the euro increased at an annual rate of 10.7% in October, up from 9.9% in September, according to initial estimates released Monday. Energy prices […]
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 — When will central banks stop raising interest rates? That’s the multi-trillion dollar question […]
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. New York CNN Business — The Federal Reserve is most likely going to raise interest rates by three quarters of a percentage point again on Wednesday, its fourth straight supersized hike. And it’s […]
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 — The US economy grew by a 2.6% adjusted annual rate in the third-quarter, […]
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 — Imminent recession is the topic du jour. From Goldman Sachs to the IMF, […]
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. New York CNN Business — The housing market is rapidly losing steam. Interest rates continue to rise. The stock market remains volatile. And inflation continues to be a major problem for people trying […]
London CNN Business — The decision by Jeremy Hunt, the new UK finance minister, to jettison the bulk of Prime Minister Liz Truss’ much-maligned plans to boost growth has come as a huge relief to investors, easing their worries about the sustainability of government finances. But even if “Trussonomics” has been tossed out and a […]
New York CNN Business — Stubborn inflation and the Federal Reserve’s jumbo-sized interest rate hikes will drive the American economy into a 1990-style mild recession starting in the spring, Fitch Ratings warned on Tuesday. In a report obtained first by CNN, Fitch slashed its US growth forecasts for this year and next because of one […]
London CNN — Wind and solar power have made up a record 24% of the European Union’s electricity mix since Russia launched its war on Ukraine, a new report says, a boost that has also helped the bloc battle soaring inflation. The growth in renewable power capacity has saved the 27-nation bloc €99 billion ($97 […]
London CNN Business — After a bruising three-week battle with bond markets, UK Prime Minister Liz Truss admitted defeat on Friday. She fired her finance minister and gutted her economic program by promising to reinstate a big tax hike on corporations. Truss said she acted in the national interest to ensure economic stability and to […]