By Laura He, CNN Business Asian markets are careening toward their worst month since the Covid pandemic began, hit by a mighty US dollar and rising global recession fears. The MSCI Asia ex-Japan Index — which captures 10 major markets across Asia, excluding Japan — has fallen 12.8% so far this month, on track to
Continue Reading By Allison Morrow, CNN Business All week, there have events in the news that have come in under of the banner of “this hasn’t happened since 2007/2008.” Yields on the 10-year Treasury briefly surpassed 4%, a level not seen since 2008. That movement helped push mortgage rates to their highest level, 6.7%, since — wait
Continue Reading By Allison Morrow, CNN Business All week, there have events in the news that have come in under of the banner of “this hasn’t happened since 2007/2008.” Yields on the 10-year Treasury briefly surpassed 4%, a level not seen since 2008. That movement helped push mortgage rates to their highest level, 6.7%, since — wait
Continue Reading By Jackie Wattles, CNN Officials at NASA have signed a Space Act Agreement with SpaceX to investigate the benefits and risks of having a private mission provide service to NASA’s nearly 33-year-old Hubble Space Telescope, boosting it to a higher orbit to extend its life, the space agency announced Thursday. “Hubble is amazingly successful. …
Continue Reading By Jackie Wattles, CNN Officials at NASA have signed a Space Act Agreement with SpaceX to investigate the benefits and risks of having a private mission provide service to NASA’s nearly 33-year-old Hubble Space Telescope, boosting it to a higher orbit to extend its life, the space agency announced Thursday. “Hubble is amazingly successful. …
Continue Reading By Rachel Metz, CNN Business Artificial intelligence is getting better and better at generating an image in response to a handful of words, with publicly available AI image generators such as DALL-E 2 and Stable Diffusion. Now, Meta researchers are taking AI a step further: they’re using it to concoct videos from a text prompt.
Continue Reading By Lauren del Valle, CNN In emotional testimony on Thursday, Robbie Parker, the parent of a Sandy Hook shooting victim, recounted the violent threats and harassment he and his family have suffered in the years since conspiracy theorist Alex Jones called him a crisis actor. The day after their six-year-old daughter, Emilie, was murdered in
Continue Reading By Lauren del Valle, CNN In emotional testimony on Thursday, Robbie Parker, the parent of a Sandy Hook shooting victim, recounted the violent threats and harassment he and his family have suffered in the years since conspiracy theorist Alex Jones called him a crisis actor. The day after their six-year-old daughter, Emilie, was murdered in
Continue Reading By Catherine Thorbecke, CNN Business Google plans to shut down its cloud gaming service Stadia in January, a little more than three years after it launched, citing lackluster demand from customers. Phil Harrison, the vice president and general manager of Stadia, said in a blog post Thursday that the consumer gaming service “hasn’t gained the
Continue Reading By Brian Fung and Clare Duffy, CNN Business California is attempting to stymie abortion prosecutions in other states by making it illegal for Silicon Valley giants and other businesses based in the Golden State to hand over the personal information of abortion-seekers to out-of-state authorities. A new law signed Tuesday by Gov. Gavin Newsom forbids
Continue Reading By Brian Fung and Clare Duffy, CNN Business California is attempting to stymie abortion prosecutions in other states by making it illegal for Silicon Valley giants and other businesses based in the Golden State to hand over the personal information of abortion-seekers to out-of-state authorities. A new law signed Tuesday by Gov. Gavin Newsom forbids
Continue Reading By Catherine Thorbecke, CNN Business Google plans to shut down its cloud gaming service Stadia in January, a little more than three years after it launched, citing lackluster demand from customers. Phil Harrison, the vice president and general manager of Stadia, said in a blog post Thursday that the consumer gaming service “hasn’t gained the
Continue Reading By Matt Egan, CNN Business US officials are increasingly troubled by the United Kingdom’s proposal to slash taxes at a time of crushing inflation, a plan that has ignited turbulence in financial markets. UK Prime Minister Liz Truss’s tax-cut plan has drawn criticism from economists and investors and prompted the Bank of England to calm
Continue Reading By Anna Bahney, CNN Business Think mortgage rates are high now? Connie Strait remembers when she was starting her career in real estate in the early 1980s and buyers were contending with rates three times higher. Strait recalled one couple who were actually relieved when they locked in a 30-year fixed-rate mortgage at 19% in
Continue Reading By Paul R. La Monica, CNN Business Maybe that October market rally has some legs after all? Stocks were mostly unchanged Wednesday, even as a fresh batch of economic data revealed continued strength in the job market and America’s services sector. That’s led to new worries that the Federal Reserve’s aggressive rate hikes, meant to
Continue Reading By Parija Kavilanz, CNN Business So much for impulse buying at H&M. The next time you shop there, specifically online, and then regret bagging that crop top or cheap ripped flared jeans, you might have to pay to return it. The Swedish fast-fashion seller said it is gearing up to test return fees on merchandise
Continue Reading By Reuters and Anna Cooban, CNN Business The German government announced plans to borrow €200 billion ($195 billion) to cap natural gas prices for households and businesses. That’s a bigger price tag than the £150 billion ($165 billion) the UK government is expected to borrow to finance its own price cap. Germany, Europe’s biggest economy,
Continue Reading By Jackie Wattles, CNN Satellites that are no longer in service must get out of the sky far more quickly under a new rule adopted by US federal regulators Thursday — and it’s all in the name of combating the garbage in Earth’s orbit. Unused satellites in low-Earth orbit, which is the area already most
Continue Reading By Nathaniel Meyersohn, CNN Business Bed Bath & Beyond is losing shoppers and money at a rapid clip, and the company will need to quickly reverse course to avoid bankruptcy. The struggling chain announced Thursday that sales at stores open for at least a year plunged 26% during its latest quarter ending August 27. The
Continue Reading By Catherine Thorbecke, CNN Business Amazon on Wednesday said it is raising the average starting pay for its warehouse workers and delivery drivers to more than $19 an hour, up from $18 previously, at a time when union pushes continue to spread across several of its facilities. With the increase, which takes effect next month,
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