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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

By Chris Isidore, CNN Business Boeing, the largest US exporter, announced plans Wednesday for its first foreign production plant to perform final assembly work. The plant, to be built in Toowoomba, Australia, will assemble military drones, not commercial jets, which is Boeing’s primary business. But it is an interesting step away from the United States

By Anna Bahney, CNN Business The housing market is beginning to look a little more normal. Home sales dropped in August, both from July and from a year ago, breaking two straight months of increases, according to the National Association of Realtors. Home purchases have been surging over the past year, which Lawrence Yun, chief

By Anneken Tappe, CNN Business The Federal Reserve isn’t ready to take its foot off the stimulus gas pedal just yet, but that soon might change. If the economic recovery continues to progress as expected, the Fed “judges that a moderation in the pace of asset purchases may soon be warranted,” according to the bank’s