Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. New York CNN Business — A little over a decade ago, the dominant narrative about the housing market was that Millennials simply weren’t buying. They were either too cheap, lazy, or […]
Washington, D.C. CNN — The Federal Reserve approved a fourth-straight rate hike of three-quarters of a percentage point on Wednesday as part of its aggressive battle to bring down the white-hot inflation that is plaguing the US economy. The supersized hike brings the central bank’s benchmark lending rate to a new target range of 3.75% […]
New York CNN Business — The Federal Reserve’s war on inflation isn’t just painful for home buyers and people with credit card debt. Uncle Sam is getting squeezed by higher borrowing costs, too. The cost to finance America’s growing mountain of debt is rising rapidly as the Fed scrambles to put out the inflation fire […]
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 […]
Hong Kong CNN Business — When Chinese leader Xi Jinping secured a historic third term in power at the weekend and stacked his top team with loyalists in a clean sweep not seen since the Mao era, investors were quick to pass judgment. Chinese stocks listed in Hong Kong and New York crashed on Monday, […]
CNN — N. R. Narayana Murthy, one of India’s richest people, had mixed feelings when he first heard about the man who would become his son-in-law. “I, too, was a little sad and jealous when you told us you had found your life partner,” he wrote to his daughter Akshata Murty in a letter, published […]
London CNN Business — Rishi Sunak, Britain’s third prime minister in seven weeks, will face the huge challenge of projecting stability after a period of historic political and financial market chaos. But his other task — shepherding the country through a recession — is poised to be just as daunting. The former finance minister has […]
CNN — When she took the keys to 10 Downing Street in the wake of Boris Johnson’s political demise, Liz Truss promised to “ride out the storm” of Britain’s economic crisis. Just over six weeks later, she was engulfed by a hurricane of her own making. It was a humiliating end to a calamitous premiership […]
Washington, DC CNN — Tesla buyers may be able to take advantage of new federal tax credits for electric vehicles next year, the automaker’s executives said Wednesday. The credits can be as large as $7,500 for new vehicles and $4,000 for used vehicles. Tesla’s eligibility for the previous tax credits ended in Jan. 2020 when […]