Money

By Matt Egan, CNN A breach of the US debt ceiling risks sparking a 2008-style economic catastrophe that wipes out millions of jobs and sets America back for generations, Moody’s Analytics warned on Tuesday. In a new report ahead of Congressional testimony, Moody’s chief economist Mark Zandi described the standoff over raising the debt limit

By Nicole Goodkind, CNN Federal Reserve Chair Jerome Powell is on the hot seat this week as he testifies before Congress. Investors will be watching closely as they search for signs of future rate hikes. Powell is expected to speak before the Senate Banking Committee on Tuesday morning and the House Financial Services Committee on

By Pierre Bairin, Aurore Laborie and Hanna Ziady, CNN Oil refineries across France were blockaded Tuesday by workers taking part in a 1-million-strong protest against government plans to raise the retirement age. Mass strikes also left thousands without electricity and disrupted schools, airports and trains as the country’s biggest union CGT urged people to “bring

By Michelle Toh and Gawon Bae, CNN Kakao, one of South Korea’s top internet giants, has doubled down on its quest to take control of SM Entertainment, the iconic K-pop music agency. The tech firm announced Tuesday that it would seek to buy up to 35% of the music label, just days after a previous

By Laura He, CNN China’s leader Xi Jinping hit out at the United States with unusually direct comments as he called on the country’s private companies to “fight” alongside the Communist Party at a time of mounting challenges at home and abroad. “[In the past five years,] Western countries led by the United States have

By Rhea Mogul, CNN Firefighters in the southern Indian city of Kochi were toiling Tuesday to control toxic fumes from spreading after a landfill burst into flames five days ago, cloaking the area in a thick haze and choking residents. The towering Brahmapuram landfill in Kerala state is the country’s latest trash mountain to catch

By Parija Kavilanz, CNN Barbie isn’t one to be pigeonholed into a profession just because she’s a woman. She’s had an impressive 200 careers on her resume — doctor, astronaut, computer engineer, CEO and even presidential candidate. For International Women’s Day on March 8, Mattel (which owns the Barbie brand) is hoping to inspire young

By Nicole Goodkind, CNN The war in Ukraine and US-China relations are two of JPMorgan Chase CEO Jamie Dimon’s largest economic concerns, he said Monday. “The thing I worry the most about is Ukraine,” he told Bloomberg Television in an interview Monday morning. “It’s oil, gas, the leadership of the world, and our relationship with

By Matt Egan, CNN Every few years, Washington plays a dangerous game of chicken over whether to raise the debt ceiling or default on US debt. Even if a default is avoided this time, the frequent nature of these political showdowns could cause America’s credit rating to get downgraded, Fitch Ratings told CNN on Monday.