Online Black Friday sales set a new record
New York CNN Business — Online Black Friday sales in the United States topped a record-breaking $9.12 billion this year, according to Adobe Analytics, kicking off a solid start to…
Latest inflation report shows wholesale prices rose at a slower pace last month
Minneapolis CNN Business — A key measure of inflation, wholesale prices, rose by 8% in October from a year before, according to the latest report from the Bureau of Labor…
GM earnings soar on improved supply chain issues
New York CNN Business — General Motors says its supply chain issues are improving. That allowed the company to post better-than-expected earnings despite falling short of revenue forecasts. Tube Closure…
China GDP: Hong Kong stocks plunge 6% as fears about Xi’s third term trump data
Hong Kong CNN Business — Hong Kong stocks had their worst day since the 2008 global financial crisis, just a day after Chinese leader Xi Jinping secured his iron grip…
Saudis aren’t weaponizing oil like Americans claim, top official says
CNN — Saudi Minister of State for Foreign Affairs Adel al-Jubeir said his country partnered with Russia to slash oil production in order to stabilize markets and denied that there…
Why the ghost of 2008 still haunts us in 2022
This story is part of CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. New York CNN Business — All week, there have events…
Bank of England intervenes to buy UK bonds, warns of risk to financial stability
London 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…
FedEx warns of a global recession, cutting sales forecast by half a billion dollars
New York CNN Business — FedEx warned that a global recession could be coming, as demand for packages around the world tumbles. Shares of FedEx (FDX) plunged 22% in early…
What is inflation? This is why costs move up, and who is accountable
New York CNN Business — Confused about inflation? You’re now not by myself. Inflation is, ironically, each extremely easy to know and absurdly sophisticated. Let’s get started with the most…
The US economic system did not get the recession memo
New York CNN Business — The American economic system didn’t get the memo that it’s intended to already be in a recession. The brutal GDP report launched on July 28,…