Money

By Nicole Goodkind, CNN Business The global bond market is having a historically awful year. The yield on the 10-year US Treasury bond, a proxy for borrowing costs, briefly moved above 4% on Wednesday for the first time in 12 years. That’s a bad omen for Wall Street and Main Street. What’s happening: This hasn’t

By Nathaniel Meyersohn, CNN Business We have all heard of Band-Aid, Tylenol, Benadryl and Johnson’s baby powder. We have never heard of the new made-up word Kenvue. But Kenvue will be the new corporate parent of these familiar consumer health brands next year. Johnson & Johnson, the owner of these labels, is in the process

By Michelle Toh, CNN Business Hong Kong has finally secured commitments from some of the world’s biggest banks to participate in a long-awaited summit, as it seeks to reaffirm its status as a global financial hub. The Hong Kong Monetary Authority (HKMA) announced Thursday that it would welcome executives including Goldman Sachs CEO David Solomon,

By Laura He, CNN Business China’s yuan hovered near record lows against the US dollar on the offshore market on Thursday, as major currencies around the world continue to tumble after the Federal Reserve’s aggressive hikes. The yuan — also known as the renminbi —has been declining for months despite interventions by China’s central bank.

By Matt McFarland and Anna Cooban, CNN Business Shares of Porsche gained as much as 5% on their stock market debut in Frankfurt after Volkswagen spun out the premium sports car maker in one of Europe’s biggest listings on record. Volkswagen priced the Porsche initial public offering (IPO) at €82.50 ($80) a share, raising approximately

By Paul R. La Monica, CNN Business Having an executive allegedly bite someone’s nose might be the least of Beyond Meat’s problems. Investors have taken a big chomp out of Beyond Meat’s stock price as fears grow that the popularity of plant-based food may have reached a peak. Shares of Beyond Meat were around $16

By Julia Horowitz, CNN Business The Federal Reserve is laser-focused on stemming price increases in the United States. But countries thousands of miles away are reeling from its hardball campaign to strangle inflation, as their central banks are forced to hike interest rates faster and higher and a runaway dollar pushes down the value of

By Jordan Valinsky, CNN Business The US Chamber of Commerce and other trade groups filed a lawsuit against the Consumer Financial Protection Bureau over the agency’s recent attempt to examine discrimination in financial services, a move that the groups argue needs congressional approval. Several groups, which include American Bankers Association and Consumer Bankers Association and