By Nicole Goodkind, CNN Business Persistently high inflation, the Federal Reserve’s tightening policy and record-breaking US debt have wreaked havoc on US Treasuries this year. Now, economists are noting a fundamental and worrisome imbalance in the bond market. There are trillions of dollars worth of bonds for sale, they say, but a growing scarcity of
Continue Reading By Laura He and Emiko Jozuka, CNN Business A quarter of a century ago, a major financial crisis ripped through Asia, shaking its economies to the core. Now, the ghost of 1997 is haunting the region again. Currencies and stock markets in Asia’s biggest economies have plunged to lows not seen in decades, as a
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By Jennifer Korn, CNN Business A board seat accepted and then rejected. A stunning $44 billion takeover offer with uncertain financing. And a surprise early morning tweet putting the deal on hold, temporarily. Even by the standards of Twitter, a company that has known plenty of chaos and dysfunction in its history, the weeks-long effort
Continue Reading By Oliver Darcy, CNN Business On Monday night, inside the upscale Parisian restaurant L’Avenue at Saks in midtown Manhattan, MSNBC President Rashida Jones hosted an intimate dinner to celebrate Alex Wagner. The glitzy event was attended by some of the most elite names in media, including MSNBC host Chris Hayes, Vanity Fair Editor-In-Chief Radhika Jones,
Continue Reading By Alicia Wallace, CNN Business America’s national debt has climbed north of $31 trillion for the first time, a milestone that comes at a time of historically high inflation, rising interest rates and growing economic uncertainty. The nation’s total public debt outstanding closed at $31.1 trillion on Monday, according to Treasury Department data published Tuesday.
Continue Reading By Jeanne Sahadi, CNN Business The competition to be listed among Fortune’s Most Powerful Women has gotten a little stiffer this year. In recognition of just how global business has become, Fortune decided to merge its domestic and international lists of top corporate women leaders. Still, in some ways, this year’s top 10 list is
Continue Reading By Rachel Metz, CNN Business The White House on Tuesday released a set of guidelines it hopes will spur companies to make and deploy artificial intelligence more responsibly and limit AI-based surveillance, despite the fact that there are few US laws compelling them to do so. The guidelines, which have been in the works for
Continue Reading By Peter Valdes-Dapena, CNN Business Average car prices are shooting higher and higher thanks to continued auto parts shortages. Interest rates are rocketing higher thanks to the federal government’s efforts to control inflation. And car companies and dealers have less incentive to take steps to bring down costs because demand is still vastly greater than
Continue Reading By Catherine Thorbecke, CNN Business Micron on Tuesday said it would invest up to $100 billion over the next two decades to build a massive semiconductor factory in upstate New York. The move comes in the wake of US government efforts to boost domestic chip production. The Idaho-based firm said it plans to build the
Continue Reading By Matt Egan, CNN Business Congressman Ro Khanna wants Federal Reserve Chairman Jerome Powell to apologize for the central bank’s handling of inflation. “I blame the Fed and I blame Powell for mismanaging the situation in the first place,” the Democratic Rep. told CNN in a phone interview. “He should take accountability that he messed
Continue Reading By Jeanne Sahadi, CNN Business One of the best ways to build wealth in the United States is to own your own business. But just 2% of businesses with employees are Black-owned, according to a report from the Alliance for Entrepreneurial Equity. And that has played a big part in widening the racial wealth gap
Continue Reading By Jeanne Sahadi, CNN Business One of the best ways to build wealth in the United States is to own your own business. But just 2% of businesses with employees are Black-owned, according to a report from the Alliance for Entrepreneurial Equity. And that has played a big part in widening the racial wealth gap
Continue Reading By Clare Duffy, CNN Business Elon Musk on Monday sent a letter to Twitter proposing to follow through with his deal to buy the company at the originally agreed upon price of $54.20 per share, according to a securities filing on Tuesday. In the letter, Musk said he would proceed with the acquisition on the
Continue Reading By Allison Morrow, CNN Business Ray Dalio, the billionaire founder of the world’s largest hedge fund, is stepping down from his role at the firm after 47 years. “I transitioned my control of Bridgewater to the next generation and I feel great about the people and ‘machine’ now in control,” Dalio wrote in a LinkedIn
Continue Reading By Scottie Andrew, CNN Jack Thomas’ byline appeared in the Boston Globe for an impressive 60 years. He was a copy boy to start, working for the sports desk as a teenager after a childhood spent delivering papers. From a police writer to a national correspondent to the paper’s ombudsman, Thomas wore more hats in
Continue Reading By Allison Morrow, CNN Business Ray Dalio, the billionaire founder of the world’s largest hedge fund, is stepping down from his role at the firm after 47 years. “I transitioned my control of Bridgewater to the next generation and I feel great about the people and ‘machine’ now in control,” Dalio wrote in a LinkedIn
Continue Reading By Brian Fung, CNN The European Union is one step closer to forcing Apple and other electronics vendors to use a single charging standard for devices such as phones and tablets. On Tuesday, the European Parliament gave final approval to new rules that are expected to apply to small and medium-sized electronics beginning at the
Continue Reading By Alicia Wallace, CNN Business The tight US labor market started to show signs of loosening in August. The number of job openings dropped to just under 10.1 million, down from 11.2 million in July, according to data released Tuesday by the Bureau of Labor Statistics. That’s the lowest total since June 2021. The latest
Continue Reading By Katharina Krebs and Anna Chernova, CNN Marina Ovsyannikova, a Russian journalist who staged a daring protest live on state-run television, has been declared a fugitive after going on the run, Russian media reported. Ovsyannikova was placed under house arrest in August. She had been charged with disseminating false information about the Russian military after
Continue Reading By Clare Duffy, CNN Business When Parag Agrawal took over as Twitter’s CEO last November following co-founder Jack Dorsey’s surprise resignation from the role, he was little known outside the company. Ten months later, Agrawal has featured prominently in a whistleblower disclosure, been rebuked by name in a Congressional hearing and fielded criticism from the
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