Categories
World

Russia’s war in Ukraine sparked a historic food crisis. It’s not

London CNN  —  Grain is once again leaving Ukrainian ports. The price of fertilizer is falling sharply. Billions of dollars in aid has been mobilized. Yet the world is still in the grips of the worst food crisis in modern history, as Russia’s war in Ukraine shakes global agricultural systems already grappling with the effects […]

Categories
US

These three big unknowns will drive markets in 2023 | CNN

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  —  We’re in the salad days of the New Year — that period where many […]

Categories
US

Sales of Manhattan apartments nosedived at the end of 2022 | CNN

Washington, DC CNN  —  It is almost as if the wild turns in the Manhattan real estate market during the pandemic didn’t happen. Almost. The frenzy to buy apartments in Manhattan took off in 2021 as the city bounced back from the worst of the pandemic. But it nosedived at the end of 2022, with […]

Categories
US

Europe’s recession may not be as bad as feared | CNN Business

London CNN  —  European stocks are pushing higher for the third straight day as investors cheer signs that inflation, supply chain bottlenecks and natural gas prices are all easing Europe’s Stoxx 600 (SXXL) index rose 1% in Wednesday trading, and is now up 3.3% since markets kicked off 2023 trading on Monday. Germany’s DAX (DAX) […]

Categories
US

Get ready for a ‘slowcession’ in 2023, Moody’s says | CNN

New York CNN  —  Many CEOs, investors and consumers are worried about a recession in 2023. But Moody’s Analytics says the more likely scenario is a “slowcession,” where growth grinds to a near halt but a full economic downturn is narrowly avoided. “Under almost any scenario, the economy is set to have a difficult 2023,” […]

Categories
US

Recession or soft landing? Five reasons to be cautiously

New York CNN  —  Last year was dominated by scary headlines about crushing inflation, super-sized interest rate hikes and mounting recession fears. It was a brutal period for the stock market, with roughly one-fifth of the value of the S&P 500 vanishing and the Nasdaq dropping by more than one-third. All three major US markets […]

Categories
US

Inflation is killing the first dinner date | CNN Business

New York CNN  —  Singles are ditching pricey white tablecloth meals for romance in the park or on a walk instead. The high cost of dining out and changes to dating habits during the pandemic have driven singles to seek out more affordable, casual first dates. Singles are spending $130 a month on dates, up […]

Categories
US

Wall Street kills its darlings | CNN Business

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  —  Verbose writers afflicted with the tendency to deliver copy well above their requested word […]

Categories
US

New Year’s pay boost: These states are raising their minimum wage

Minneapolis CNN  —  The current period of high inflation that has significantly impacted the US economy will also influence a New Year’s tradition: The annual state minimum wage increases. By January 1, hourly minimum wages in 23 states will rise as part of previously scheduled efforts to reach $15 an hour or to account for […]

Categories
US

What got really expensive this year, and what got cheaper | CNN

New York CNN  —  It’s been a tough year for US consumers, who battled decades-high inflation for the majority of the year and even saw gas prices hit $5 in June. The latest inflation data, not adjusted for seasonal swings, shows price hikes have now slowed to 7.1% for the year through November, after hitting […]