Global stocks and cryptocurrencies are pulling back on Monday as investors continue to weigh signals from the Federal Reserve that it could raise interest rates sooner than expected. Markets were broadly lower, with Japan’s Nikkei 225 dropping more than 3% — easily the worst major performer — after Wall Street closed out its worst week
Continue Reading A rare case of China’s fiery national liquor has sold for more than $1 million, more than five times what experts had estimated it would fetch. Sotheby’s announced on Friday that it had sold a crate of the beloved spirit, Kweichow Moutai, for an eye-popping £1 million (almost $1.4 million) in London. That’s the highest
Continue Reading A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. “Assault on Democracy.” That’s the title of an ambitious new CNN documentary that is premiering Sunday at 9pm Eastern and Pacific and re-airing several times in the coming days. The subtitle is “The Roots of
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Five hundred police officers raided the Apple Daily newsroom in Hong Kong last week to arrest executives and top editors and seize journalistic materials under the city’s national security law. The incident sounded an alarm across the media industry. “This has sent shudders through the industry,” Elaine Yu, a Hong Kong-based reporter for the Wall
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Major corporations are celebrating Juneteenth in unique ways this week. The annual June 19 tradition, which falls on Saturday this year, commemorates the day in 1865 when former American slaves in Galveston, Texas, were finally informed of President Abraham Lincoln’s January 1, 1863, Emancipation Proclamation and the end of the Civil War. It took Union
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America hit a milestone Friday: 300 million Covid-19 shots have been administered in the country. And as the number of vaccinations continues to rise, so do the signs the nation is getting back to business. Here’s a list of some indicators that the United States is recovering from the pandemic. Airplanes are filling up The
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Amazon Prime Day is typically one of the best days of the year for Keababies, which sells baby care and maternity products on its web site. Last October, Keababies racked up around $500,000 in revenue during the two-day event, said co-founder Ivan Ong. Drawn by the steep discounts Keababies offered to customers on Prime Day,
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America hit a milestone Friday: 300 million people in the country have received at least one dose of a Covid-19 vaccine. And as the number of vaccinations continues to rise, so do the signs the nation is getting back to business. Here’s a list of some indicators that the United States is recovering from the
Continue Reading The US economy has come a long way since last year’s devastating downturn. But a return to “normal” may not be possible. The Back-to-Normal Index created by CNN Business and Moody’s Analytics stands at 93% as of June 18, a new pandemic-era high. The index is comprised of 37 national and seven state-level indicators that track
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America hit a milestone Friday: 300 million people in the country have received at least one dose of the Covid-19 vaccine. And as the number of vaccinations continues to rise, so do the signs the nation is getting back to business. Here’s a list of some indicators that the United States is recovering from the
Continue Reading A federal judge ruled Friday that the Centers for Disease Control and Prevention’s conditional sailing orders on the cruise industry “likely constitutes an unconstitutional delegation of legislative power to CDC.” In a motion for a preliminary injunction, the state of Florida alleged that the CDC’s order exceeds the agency’s authority and that it was was
Continue Reading Bidding wars. All-cash offers. Homes selling for $1 million over asking. The housing boom has officially reached the ridiculous stage. Despite surging home prices that are rising at the fastest pace on record, the Federal Reserve continues to prop up the housing market by purchasing $40 billion of mortgage bonds each month. And while the
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It’s been a big year for America’s oat milk fans — and the companies serving them. In March, Starbucks rolled out the option only to sell out a month later. Silk added oat milk to its line of plant-based milks in April. Oatly had a splashy IPO in May. And a slew of new ad
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Editor’s note: An earlier version of this story and headline misstated the findings of the McKinsey study on wealth. It has been updated and corrected. An estimated 19% of Black American families, roughly 3.5 million households, have a negative net worth because of a history of discriminatory policies from the government and private industry that
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Are the Wild West days of intense market volatility back on Wall Street? Stocks were sliding Friday morning after St. Louis Federal Reserve President James Bullard told CNBC he thinks the Fed should raise interest rates as soon as the end of next year. The Dow fell more than 400 points in midday trading Friday,
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An estimated 19% of Black Americans, roughly 3.5 million people, have a negative net worth because of a history of discriminatory policies from the government and private industry that has hindered the accumulation of wealth over time, according to a new McKinsey & Company study released Thursday. Just 8% of White Americans have a negative
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Are the Wild West days of intense market volatility back on Wall Street? Stocks were sliding Friday morning after St. Louis Federal Reserve President James Bullard told CNBC he thinks the Fed should raise interest rates as soon as the end of next year. The Dow fell nearly 400 points in late morning trading Friday,
Continue Reading You might not be excited about paying higher prices for meat and vegetables, but your grocery store is thrilled. The rising prices for staples like milk and pork affect grocery stores too, as they have to pay more to their suppliers. But while they are raising prices under the guise of increasing supplier costs, they’re
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Are the Wild West days of intense market volatility back on Wall Street? Stocks were sliding Friday morning after St. Louis Federal Reserve President James Bullard told CNBC he thinks the Fed should raise interest rates as soon as the end of next year. The Dow fell 500 points in late morning trading Friday, a
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Are the Wild West days of intense market volatility back on Wall Street? Stocks were sliding Friday morning after St. Louis Federal Reserve President James Bullard told CNBC he thinks the Fed should raise interest rates as soon as the end of next year. The Dow fell more than 500 points in late morning trading
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