Money

By Laura He, CNN Business China’s yuan tumbled on Tuesday to its lowest level in nearly 15 years on Tuesday as investors fled Chinese assets amid fears about Xi Jinping’s dramatic move to tighten his grip on power in a major reshuffle of Communist Party leaders On the tightly controlled domestic market, the yuan dropped

By Jon Sarlin, CNN Business “I can say antisemitic s*** and Adidas cannot drop me,” Kanye West said during his now infamous tirade against Jews during the Drink Champs Podcast earlier this month. With a social media uproar focused on Adidas brewing, Ye’s theory is now being tested. Here’s the deal: The list of brands

By Anna Bahney, CNN Business After more than doubling this year, mortgage rates are expected to retreat in 2023, according to an updated forecast from the Mortgage Bankers Association. MBA’s economists also said they expect the US to enter into a recession in the first part of next year that will be driven by tighter

By Frank Pallotta, CNN Business Sen. Ted Cruz’s “The View” interview was disrupted by protesters multiple times on Monday, including some demanding the Texas Republican talk about climate change. The protesters appeared to be shouting “Cover climate now!” as Cruz tried to answer a question from Sara Haines, one of the ABC talk show‘s co-hosts.

By Sophia Saifi, Bethlehem Feleke and Irene Nasser, CNN Arshad Sharif, a prominent Pakistani journalist who fled the country after he was charged with sedition, has died in Kenya after he was shot by police responding to reports of a stolen vehicle, authorities said. “The officers trailing the motor vehicle … alerted police in Magadi

By Matt Egan, CNN Business Goldman Sachs is urging the Federal Reserve to be patient in its quest to squash inflation. Even though inflation remains far too high, the investment bank says the Fed has already made “remarkable” progress in slowing the US economy and easing the concerning imbalance between supply and demand in the

By Christine Romans, CNN Kraft Heinz CEO Miguel Patricio says higher inflation and supply issues are coursing through the food industry, forcing companies to adopt new strategies for everything from production to promotion to packaging. And he doesn’t see an end to either issue anytime soon. “We’ve already increased the prices that we were expecting

By Paul R. La Monica, CNN Business Banks are in a bind. Rising interest rates should be good news for financial firms because they boost profitability for loans. But banking giants like JPMorgan Chase, Citigroup and Bank of America have been hit hard this year as the volatility on Wall Street from the Federal Reserve’s