CNN – Business/Consumer

CNN, CNNBUSINESS By Nicole Goodkind, CNN Business The global bond market is having a historically awful year. The yield on the 10-year US Treasury bond, a proxy for borrowing costs, briefly moved above 4% on Wednesday for the first time in 12 years. That’s a bad omen for Wall Street and Main Street. What’s happening:

By Nicole Goodkind, CNN Business Investors are waking up to the harsh reality of just how much pain the economy may have to endure as the Federal Reserve continues its fight against stubbornly high inflation. The Fed darkened its tone at last week’s policy meeting, warning of serious economic hardship ahead, and markets finally took

By Michelle Toh, CNN Business International airlines are scrambling to add more flights to Hong Kong as the city ends two and a half years of quarantine measures, leading to a surge in demand for travel. The new measures took effect Monday. Now, instead of having to isolate in a hotel room at their own

By Hannah Ritchie, Manveena Suri and Rhea Mogul, CNN A 12-year-old boy is in “critical condition” after he was allegedly gang-raped and beaten in India’s capital New Delhi, according to a statement from the city’s police and a complaint lodged by the boy’s family to the Delhi Commission for Women (DCW). Delhi Police Deputy Commissioner

CNN By Mark Thompson and Adam Renton, CNN The British government is reversing plans to scrap the highest rate of income tax, announcing the embarrassing retreat after a rebellion among its own lawmakers and a week of financial and economic turmoil. In a statement on Monday, finance minister Kwasi Kwarteng said the tax cut for

By Laura He, Jessie Yeung and Jonny Hallam, CNN Business The British pound crashed to a record low against the US dollar on Monday on growing fears about the stability of UK government finances. The plunge of nearly 5% to just above $1.03 came during trading in Asia and Australia on Monday and extended a

By Paul R. La Monica, CNN Business Semiconductors are in everything. Our phones, our laptops, our televisions. Even our cars. But concerns about a global recession and continued worries about supply shortages stemming from lingering pandemic-related shutdowns in Asia over the past two years are hurting top chip companies. Shares of Intel are down more

By Parija Kavilanz, CNN Business Walk into a Walmart, Target, any drugstore chain in your neighborhood or a corner bodega for New York City dwellers, and chances are you’ll find an Ivory Soap bar, or a pack of 10 bars for under $5, sitting on the shelf. This iconic cake of soap, invented almost 150

By Chris Isidore, CNN Business Workers at an Home Depot store in Philadelphia have filed to have a vote to be represented by a union. The store, at 4640 Roosevelt Blvd. in Philadelphia, has about 275 employees, according to the filing by an independent union, Home Depot Workers United, which is seeking the vote. Vincent

Opinion by Fatih Birol for CNN Business Perspectives The global energy crisis sparked by Russia’s invasion of Ukraine is causing hardship around the world and shining a spotlight on the flaws in today’s energy system. Volatile prices are hurting consumers and businesses while greenhouse gas emissions are rising and air pollution is leading to millions

CNN, CNNBUSINESS By Paul R. La Monica, CNN Business Marc Benioff is obsessed with Twitter. So much that he wishes he could own it. Benioff, Salesforce chairman and co-CEO, told CNN’s Poppy Harlow in an interview that if it were up to just him, he would “absolutely” buy Twitter. To be clear, he’s not actually

By Julia Horowitz, CNN Business When the UK government, led by new Prime Minister Liz Truss, unveiled its plan to rescue the British economy on Friday, the reaction from investors was instantaneous: They hated it. The British pound crashed below $1.10 by mid-afternoon, hitting a new 37-year low against the greenback. UK government bonds also