Money

By Matt Egan, CNN A US default would have such devastating economic and financial consequences that many observers dismiss the possibility out of hand. But investors are not ruling out such a nightmare scenario. Even though a default could wipe out millions of jobs and wreak havoc on Wall Street, the White House and Republican

By Hanna Ziady and Julia Horowitz, CNN Regulation introduced after the 2008 financial crisis was supposed to make bank bailouts a thing of the past. But its biggest test so far has revealed some serious shortcomings. In what feels like deja-vu, governments have had to step in as lenders of last resort to prevent the

By Laura He, CNN A key index measuring the strength of China’s massive services sector jumped to its highest level in more than a decade, as the country’s economic recovery gained traction. The official non-manufacturing Purchasing Managers’ Index (PMI) soared to 58.2 in March from 56.3 in February, marking the best level since 2011, according

By Laura He, CNN China’s government, strapped for cash after years of enforcing a costly zero-Covid policy, is cutting medical benefits and planning to raise the retirement age, in deeply unpopular moves that are fueling widespread public anger. Thousands of elderly people have been taking to the streets since January to protest big cuts to

By Jessie Yeung, Manveena Suri and Vedika Sud, CNN At least 35 people were killed Thursday after falling into a stepwell at a Hindu temple in central India after its floor covering collapsed, according to local officials. The incident happened at the Shri Beleshwar Mahadev Jhulelal Temple in the city of Indore, in Madhya Pradesh

By Michael Rios and Michelle Toh, CNN Britain has reached an agreement to join a major free trade bloc in the Pacific region. The country will become the first new member, and the first in Europe, to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) since it came into force in 2018. Although

By Peter Valdes-Dapena, CNN Business Spikes in car thefts of certain Hyundai and Kia models, a trend that began in the American midwest and was spread by how-to videos on social media, has reached America’s biggest city. About 100 of these particularly vulnerable Hyundai and Kia vehicles were stolen in the month of December alone

By Danielle Wiener-Bronner, CNN Starbucks’ investors have voted in favor of an independent review of the company’s aggressive anti-union efforts. During the company’s annual shareholder meeting last week, investors approved a proposal to have the board of directors “commission and oversee an independent, third-party assessment of Starbucks’ adherence to its stated commitment to workers’ freedom