Money

By Nicole Goodkind, CNN Forecasts from Walmart and Home Depot made for a grim day of trading on Tuesday. The mega retailers’ predictions of a weakening economy and a dip in consumer spending this year sent markets tumbling as Wall Street seemed to realize that the Federal Reserve’s campaign to quell inflation could yet lead

By Manveena Suri and Rhea Mogul, CNN A convicted killer and rapist revered by millions as a religious guru has temporarily walked free from jail in India for the fourth time in 12 months, angering activists who say it sets a dangerous precedent in a country grappling with violence against women. Gurmeet Ram Rahim Singh,

By Laura He, CNN Hong Kong’s Covid-hit economy will return to growth this year and expand by between 3.5% and 5.5%, as the city opens up and China’s economic outlook improves, Hong Kong’s financial secretary said on Wednesday. The Asian financial hub suffered a 3.5% contraction last year, as strict Covid restrictions and weakening global

By Danielle Wiener-Bronner, CNN Business Starbucks wants you to give olive oil coffee a shot. Really. The coffee chain is rolling out a new line of beverages made with extra virgin olive oil. To be clear, the drinks are not simply flavored with olive oil, nor do they have just a hint of it. Each

By Anna Bahney, CNN US home sales declined in January for the 12th consecutive month as mortgage rates remained elevated and stubbornly high prices kept homebuyers out of the market. It was the weakest home sales activity since 2010. The continuation of a slowing trend that began in February 2022 is the longest streak of

By Nathaniel Meyersohn, CNN Walmart had a strong holiday shopping season, but the year ahead will be more challenging for America’s largest retailer. Walmart forecast slower sales and profit growth, disappointing investors and sending its stock down during morning trading Tuesday. However, Walmart notched an 8.3% sales increase during its latest quarter at US stores

By Nicole Goodkind, CNN Oil and gas companies have seen skyrocketing growth as the energy crisis triggered by Russia’s war in Ukraine has challenged people’s quality of life, financial stability, and overall well-being. The global oil and gas industry’s profits jumped to $4 trillion in 2022, up from an average of $1.5 trillion in recent

By Chris Isidore, CNN Home Depot said it will increase pay and benefits for front line hourly staff by $1 billion this year, another sign of a tighter labor market and rising wages across the US economy. The home improvement retail chain did not detail how much of a pay raise the average hourly worker

By Michelle Toh, CNN Standard Chartered is going on a hiring spree in Hong Kong this year, in a sign of renewed confidence in its biggest market as the city reopens its border with mainland China. The British bank said it would add 300 to 500 employees to its ranks of roughly 5,500 to 5,800.