Inflation is soaring, markets are down and savings rates are still very low. But there’s one investment that offers a nearly 10% return for the next several months. But you’d need to act quickly. Until the end of this month, you have a chance to lock in a 9.62% rate for six months, October through […]
London CNN Business — Postal workers in the United Kingdom are walking out during the busiest period of the year to demand higher pay as cost-of-living pressures mount. As many as 115,000 Royal Mail staff went on strike on Thursday to demand better pay and working conditions. It was the first of 19 days of […]
Minneapolis CNN Business — A key inflation report showed consumer prices came in hotter than expected in September, punishing Americans and giving license to the Federal Reserve to maintain its pace of historic rate hikes. On a monthly basis, overall consumer prices increased by 0.4% from August, according to data released Thursday by the Bureau […]
CNN — Saudi Minister of State for Foreign Affairs Adel al-Jubeir said his country partnered with Russia to slash oil production in order to stabilize markets and denied that there were political motives behind the decision, which has enraged US leaders and sparked calls to rethink ties with Riyadh. “We’re trying to make sure we […]
London CNN Business — The Bank of England is struggling to contain a crisis triggered by the UK government’s brash plans to borrow heavily to pay for tax cuts, feeding fears that the country’s financial markets could once again spin out of control. Almost 20 days after Finance Minister Kwasi Kwarteng unveiled his much-criticized plan […]
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 White House isn’t very happy with OPEC’s decision to slash oil production […]
After rising for six weeks in a row, mortgage rates retreated last week. The 30-year fixed-rate mortgage averaged 6.66% in the week ending October 5, down from 6.70% the week before, according to Freddie Mac. Mortgage rates have more than doubled since the start of this year as the Federal Reserve continues its unprecedented campaign […]
New York CNN Business — Even before Wednesday’s action by OPEC+ to cut oil production, US gas prices were on their way up. More price increases at the pump likely lay ahead. Gas prices rose nearly 3 cents a gallon in AAA’s daily reading Wednesday, to $3.83 a gallon, the biggest one-day hike in nearly […]
New York CNN Business — Around the world, markets are flashing warning signs that the global economy is teetering on a cliff’s edge. The question of a recession is no longer if, but when. Over the past week, the pulse of those flashing red lights quickened as markets grappled with the reality — once speculative, […]
London CNN Business — EU governments agreed Friday to tax the windfall profits of oil and gas companies and to cap the revenues of some electricity generators as the cost of Europe’s energy crisis spirals higher. But energy ministers from the 27 EU member states failed to reach an agreement on a proposal by the […]