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 […]
Hong Kong CNN — China reported a record trade surplus for 2022, as its key export sector delivered robust growth for most of last year, providing much-needed support for the world’s second largest economy that’s hammered by its zero-Covid policy. But plunging shipments in December suggest exports are likely to struggle in early 2023 as […]
CNN — An unfavorable ruling against Google in a closely watched Supreme Court case this term about YouTube’s recommendation engine could have sweeping unintended consequences for much of the wider internet, the search giant argued in a legal filing Thursday. Google, which owns YouTube, is fighting a high-stakes court battle over whether algorithmically generated YouTube […]
CNN — Ugandan authorities have officially declared the end of a recent Ebola outbreak after 42 consecutive days with no new cases. A formal declaration was made during a televised ceremony held in the central Mubende district, the epicenter of the outbreak, on Wednesday. According to the World Health Organisation, an Ebola outbreak is over […]
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 — Workers at a Chinese factory making Covid-19 test kits clashed with police over the weekend after their managers apparently told them to go on vacation early, a move that effectively terminated their employment without notice, according to social media posts and videos reviewed by CNN. Online footage showed workers protesting at […]
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 […]
CNN — The US Coast Guard says it repatriated 273 Cuban migrants Sunday after intercepting a number of boats off the Florida coast on New Year’s Eve and New Year’s Day. The migrants were returned to Cuba aboard the Coast Guard Cutter Mohawk, according to a news release. “The Coast Guard continues to interdict and […]
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 […]