Money

By Julia Horowitz, CNN Business Costco, home of the ultimate big box store, is not mincing words about what it’s like to run a consumer business in the middle of a pandemic. “Inflationary factors abound: higher labor costs, higher freight costs, higher transportation demand, along with container shortages and port delays, increased demand in certain

By Michelle Toh, CNN Business The world is still waiting to find out what will happen to troubled Chinese conglomerate Evergrande and its enormous mountain of debt. The property developer’s debt crisis is a major test for Beijing. Some analysts fear it could even turn into China’s Lehman Brothers moment, sending shockwaves across the world’s

By Michelle Toh, CNN Business If you’re coveting a new pair of Nike sneakers this holiday season, you might have to wait a while. The sportswear giant has warned that it has been hit by supply chain problems — caused globally by the Covid-19 pandemic — that will impact production and delivery of its goods

By Swati Gupta and Jessie Yeung, CNN Police in India arrested 29 men on Thursday in connection with the alleged gang rape of a 15-year-old girl, which occurred repeatedly over a period of almost eight months. The victim was first raped on January 29 this year, said Dinkar Mukne, a junior officer with the Mandapa

By Laura He, CNN Business The fate of ailing Chinese developer Evergrande remains up in the air after a deadline came and went Thursday without an update from the company on whether it plans to pay nearly $84 million interest owed to bondholders. Investors may have to wait a while longer to find out whether

By Hanna Ziady, CNN Business British Airways has abandoned plans to launch a low-cost carrier at London’s second biggest airport, Gatwick, blaming pilots for its decision to scrap the new initiative. The reversal comes less than a month after British Airways unveiled plans for a short-haul subsidiary to compete with Ryanair and EasyJet in an

By Anneken Tappe, CNN Business Wall Street continued to rebound on Thursday, shrugging off both the Federal Reserve’s intention to soon roll back its massive monetary stimulus, another uptick in weekly jobless claims and worries overthe Evergrande debt crisis in China. All three major stock indexes closed sharply higher for the second straight day as

By Julia Horowitz, CNN Business All eyes are on China’s Evergrande, the heavily-indebted real estate conglomerate that’s become a market obsession after global investors tuned in to its mounting problems this week. What’s happening: The company faces a crucial test on Thursday, when it has a deadline to pay nearly $84 million worth of interest

By Jessie Yeung and Swati Gupta, CNN India’s Supreme Court has set a deadline for women to be admitted to the country’s elite defense academy for the first time next year, potentially opening the door for females to achieve high-ranking military positions in a field traditionally dominated by men. The court first ruled in August

By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. What’s at stake? “Just about everything” This is one of those weeks when it feels like every single story is about Congress. Lawmakers are grappling with a government funding deadline,

By Laura He, CNN Business It’s crunch time for China’s heavily-indebted Evergrande Group. The sprawling Chinese real estate conglomerate faced a critical test on Thursday: could it meet its obligations to bondholders, or would it slip closer to the default it had warned might be coming? Evergrande was due to pay $83.5 million worth of