CNN – Business/Consumer

By Paul R. La Monica, CNN Business US stocks and bonds rallied Wednesday after the Bank of England said it would buy UK government debt “on whatever scale is necessary” in an emergency intervention to halt a bond market crash. The Dow rose nearly 550 points, or 1.9%. It was the best day for the

By Chris Isidore, CNN Business Employers seem poised to pull back on the normal rush of seasonal hiring, which experts say is another warning bell for a possible recession. “We’ve not seen the normal September uptick in companies posting for temporary help,” said Julia Pollak, chief economist for ZipRecruiter. “Companies are hanging back and waiting

By Julia Horowitz, CNN Business Former Bank of England Deputy Governor Charlie Bean said the central bank will almost certainly announce an emergency interest rate hike before its next scheduled meeting in November, predicting that turmoil would continue to roil UK markets. Investors have lost faith in the government’s ability to manage the economy and

By Anna Cooban, CNN Business House prices in the United Kingdom could plummet by as much as 15% if the country presses ahead with its tax-slashing economic gamble. Credit Suisse said on Tuesday that UK house prices could “easily” fall between 10% and 15% over the next 18 months if the Bank of England aggressively

By Nicole Goodkind, CNN Business It’s been a cold, hard crypto winter. But signs of a thaw, spurred on by global currency chaos, are beginning to appear. What’s going on: Bitcoin rose to its highest level in more than a week on Tuesday, gaining more than 5% as the British pound and other currencies took

By Mark Thompson and Rob North, CNN Business The Bank of England said Wednesday it would buy UK government debt “on whatever scale is necessary” in an emergency intervention to halt a bond market crash that it warned could threaten financial stability. Investors have been dumping the pound and UK bonds since the government of

By Jordan Valinsky, CNN Business First it was streaming services, then it was tacos and now the newest subscription you might be paying for: Chinese food. P.F. Chang’s is relaunching its seven-year-old loyalty program to now include a paid tier, joining a growing trend of restaurants entering the space. For $6.99 per month, members of

By Mark Thompson and Rob North, CNN Business One of the world’s leading multilateral financial institutions has joined a chorus of criticism of huge tax cuts announced by the UK government last week that sent the pound plunging to a record low. In a rare and stinging rebuke for such a large developed economy, the

By Jessie Yeung and Chris Liakos, CNN Leaders of several Western countries have said leaks in two Russian gas pipelines are likely the result of sabotage, vowing a strong response as investigations continue. Swedish authorities sounded the alarm on Tuesday about leaks in the Nord Stream 1 and Nord Stream 2 pipelines — both of

By Michelle Toh and Anna Cooban, CNN Business Asian and European stocks fell Wednesday after another turbulent day for US markets, as investors continue to sell off amid fears of global inflation, further interest rate hikes and broader economic turmoil. The UK’s FTSE 100 Index dropped 1.6% in morning trading Wednesday, after a rocky few

By Danielle Wiener-Bronner, CNN Business Earlier this year, Mars shocked the internet when it unveiled new looks for its M&M’S characters. Gone were Green’s iconic go-go boots, replaced by sneakers. Online, mayhem ensued. Now, M&M’S is making another, bigger change — this time, it’s adding a brand new character to the mix. Meet Purple: She’s

CNN, CNN BUSINESS By Danielle Wiener-Bronner, CNN Business Earlier this year, Mars shocked the internet when it unveiled new looks for its M&M’S characters. Gone were Green’s iconic go-go boots, replaced by sneakers. Online, mayhem ensued. Now, M&M’S is making another, bigger change — this time, it’s adding a brand new character to the mix.

By Oliver Darcy, CNN Business The financial news publication Fast Company took the extraordinary step Tuesday night of shutting down its website after the outlet said it was hacked, resulting in a pair of obscene push notifications containing racist language being sent to Apple News subscribers. A spokesperson for the publication told CNN in a

CNN, CNN BUSINESS By Jordan Valinsky, CNN Business The Hamburglar is back at McDonald’s. But this time, it’s just for adults. McDonald’s is bringing back its family of recognizable figurines in a new adult Happy Meal, which, yes, includes the toys. Beginning October 3, customers can order a Cactus Plant Flea Market Box — a

By Reuters and Chris Liakos, CNN European countries on Tuesday raced to investigate unexplained leaks in two Russian gas pipelines running under the Baltic Sea near Sweden and Denmark, infrastructure at the heart of an energy crisis since Russia’s invasion of Ukraine. Several European officials said sabotage appeared to be the likely cause, while Russia

CNN By Anna Cooban, CNN Business The European Union wants to raise €140 billion ($140 billion) by tapping the windfall earnings of some energy companies to help households and businesses pay eye-watering gas and electricity bills. On Wednesday, the European Commission proposed skimming off excess revenue from renewable and nuclear electricity producers, and taxing the

By Julia Horowitz, CNN Business The pound may have paused its headlong crash toward parity with the US dollar, but the damage to the UK economy sparked by Prime Minister Liz Truss’ huge tax-cutting gamble is still rippling through financial markets. Sterling stabilized early Tuesday to trade near $1.08, bouncing off Monday’s record low of

By Paul R. La Monica, CNN Business Fans of the cult classic movie “The Hudsucker Proxy” will remember that the main character kept describing his invention of the hula hoop as being, “you know, for kids.” But top toy companies are looking beyond the youth demographic this holiday season and plan to pitch more of