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 — 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: A version of this story appeared in CNN’s Meanwhile in China newsletter, a three-times-a-week update exploring what you need to know about the country’s rise and how it impacts the world. Sign up here. Hong Kong CNN Business — The future looked promising for Cherry in May last year, when she secured a […]
CNN — A major fire broke out in a 42-story skyscraper in the central Chinese city of Changsha in Hunan province on Friday. Authorities said that as of 4:20 p.m. local time (4:20 a.m. ET), the fire had been put out and there were no known casualties, according to Chinese state broadcaster CCTV. The Hunan […]
CNN — On Friday, the Bureau of Labor Statistics reported that the US unemployment rate had ticked up to 3.7% in August, an increase that surprised economists who had expected it to remain at July’s 3.5%. In a normal labor market, rising unemployment is a red flag. But even though today’s labor market is far […]
New York CNN Business — Starbucks has tapped Laxman Narasimhan as its next CEO. Narasimhan will become incoming CEO at Starbucks on October 1. He will officially begin his role in April and will then join the company’s board of directors, as well. The Reckitt Benckiser Group, where Narasimhan most recently served as CEO, announced […]
Editor’s Note: Know someone who inspires you? Click here to nominate them as a CNN Hero. CNN — In the state of Georgia, where one in eight people face hunger, one farmer has made it his mission not only to feed the hungry but to help them grow a bounty in their own backyard. “My […]