Hong Kong CNN Business — Even though China’s economy is beset by problems ranging from a real estate crisis to youth unemployment, Xi Jinping did not offer any grand ideas to set the country back on track during his two-hour opening speech at the Communist Party Congress on Sunday. The Chinese leader is expected to […]
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 […]
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 […]
New York CNN Business — US factories are humming, and manufacturers are scrambling to find workers as the pace of hiring hits levels not seen in decades. Friday’s September jobs report showed US manufacturers added another 22,000 workers in September, increasing employment in the sector by nearly 500,000 over the course of the last 12 […]
London CNN Business — Pension funds are designed to be dull. Their singular goal — earning enough money to make payouts to retirees — favors cool heads over brash risk takers. But as markets in the United Kingdom went haywire last week, hundreds of British pension fund managers found themselves at the center of a […]
Editor’s Note: Gad Levanon is the chief economist at the Burning Glass Institute. He’s the former head of The Conference Board’s Labor Market Institute. The opinions expressed in this commentary are his own. To many economists and analysts, the US economy has represented a paradox this year. On the one hand, GDP growth has slowed […]
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 […]
London CNN Business — OPEC+ said Wednesday that it will slash oil production by 2 million barrels per day, the biggest cut since the start of the pandemic, in a move that threatens to push gasoline prices higher just weeks before US midterm elections. The group of major oil producers, which includes Saudi Arabia and […]
New York CNN Business — Lisa Altman used to take pride in being able to eat what she wanted without worrying much about the cost. When she was growing up, seconds weren’t served and side dishes were rare. “My mom had a budget every week, and she stuck to it,” she said. “As I got […]