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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 […]

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US

Jack Ma to relinquish control of Ant group | CNN Business

CNN  —  Chinese billionaire Jack Ma will no longer control Ant Group after the fintech giant’s shareholders agreed to reshape its shareholding structure, according to a statement released by the company on Saturday. After the adjustment, Ma’s voting rights will fall to 6.2%, according to the statement and CNN calculations. Before the restructure, Ma held […]

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US

Chaos in Congress sends an ominous signal to Wall Street | CNN

New York CNN  —  Many on Wall Street cheered last fall when the midterm elections ushered in a return of divided government in Washington. The old mantra is that gridlock is good because it means neither political party can mess things up. But the historic dysfunction playing out in Congress this week is a reminder […]

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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) […]

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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,” […]

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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 […]

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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 […]

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US

Goodbye 2022 — and good riddance. Markets close out their worst

New York CNN  —  Wall Street has said goodbye — and good riddance — to 2022, a year most investors would rather forget. All three major averages were down on Friday, clocking their worst year since 2008 and ended a three-year winning streak. The Dow fell 73 points, or 0.2% Friday, the last trading day […]

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US

Gas prices had a wild ride this year, making 2023 tough to

New York CNN  —  US drivers have never seen a year quite like 2022. Wild price swings at the gas pump throughout the year make predicting prices for 2023 even more difficult. Russia’s invasion of Ukraine and the sanctions that it sparked on Russian oil sent the price of crude soaring in February at the […]

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US

Binance withdrawals jump to $3 billion in 24 hours, research firm

Hong Kong CNN  —  Investors withdrew as much as $3 billion from Binance on Tuesday, according to blockchain analytics firm Nansen, as the world’s largest cryptocurrency exchange confronted investor jitters amid a deluge of negative headlines about the industry. Andrew Thurman, content lead for Nansen, told CNN that at its peak, Binance saw “as high […]