Chinese cities are struggling to pay their bills as ‘hidden debts’ soar
By Laura He, CNN Three years of strict pandemic controls in China and a real estate crash have drained local government coffers, leaving authorities…
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Hong Kong is criminalizing CBD as a ‘dangerous drug’ alongside heroin
By Jessie Yeung, CNN Two years ago, cannabidiol was booming in Hong Kong. The compound, known as CBD, was popping up in cafes, restaurants and…
Continue ReadingPayPal will lay off 2,000 workers, or 7% of staff
By Catherine Thorbecke, CNN PayPal said Tuesday it plans to lay off about 2,000 employees, or roughly 7% of its staff, making it the latest tech firm…
Continue ReadingMaryland bill would subsidize employers that try a 4-day workweek
By Jeanne Sahadi, CNN Business In a first-of-its-kind proposal in the United States, some Maryland lawmakers want to subsidize employers that choose…
Continue ReadingWhy these chunky, ugly running shoes are selling like crazy
By Nathaniel Meyersohn, CNN Sneakers designed to feel like running barefoot used to be the hottest phenomenon in exercise. Now, the opposite is true.…
Continue ReadingStocks sizzled in January as rate hike and inflation fears ebbed
By Paul R. La Monica, CNN New year, new attitude on Wall Street. Stocks are off to a strong start in 2023 following last year’s abysmal…
Continue ReadingCentral banks have been fighting a war on inflation. They’re not done yet
By Julia Horowitz, CNN One of the main jobs of central banks is to keep prices under control, allowing households and businesses to plan for the…
Continue ReadingTesla confirms DOJ has requested documents on Autopilot, ‘Full Self-Driving’
By Matt McFarland, CNN Business Tesla confirmed in a public filing released today that the US Department of Justice has requested documents…
Continue ReadingExxonMobil earnings more than double to annual record
By Chris Isidore, CNN ExxonMobil’s earnings slowed from a peak earlier in the year but the oil giant still reached a full-year record profit…
Continue ReadingThe Covid sales boom is over for Pfizer
By Paul R. La Monica, CNN Pfizer generated nearly $57 billion in combined sales last year from its Comirnaty Covid-19 vaccine and Paxlovid antiviral…
Continue ReadingUS consumers remain wary of the economy, new survey shows
By Alicia Wallace, CNN Consumer confidence in the economy continues to waver, despite easing inflation. The Conference Board’s consumer…
Continue ReadingUS home prices dropped for the fifth month in a row in November
By Anna Bahney, CNN US home prices dropped for the fifth month in a row in November, as rising mortgage rates pushed prospective buyers out of the…
Continue ReadingWages continue to rise, but they still aren’t keeping pace with inflation
By Tami Luhby, CNN Employers continued to raise wages during the fourth quarter to attract workers and hold on to existing staff, though the pace of…
Continue ReadingBob Born, the ‘Father of Peeps,’ has died
By Jordan Valinsky, CNN Ira “Bob” Born, known as the “Father of Peeps,” died on Sunday. He was 98. Just Born Quality…
Continue ReadingTrump sues Bob Woodward for releasing audio of their interviews
By David Goldman, CNN Former President Donald Trump has sued journalist Bob Woodward for copyright violations, claiming Woodward released audio from…
Continue ReadingStocks sizzled in January as rate hike and inflation fears ebbed
CNN, POOL, INTERNATIONAL MONETARY FUND, NATIONAL PRESS CLUB By Paul R. La Monica, CNN New year, new attitude on Wall Street. Stocks are off to a…
Continue ReadingIs this the beginning of the end for Big Oil’s windfall?
By Nicole Goodkind, CNN Oil and gas companies have had two years of skyrocketing growth, but this earnings season could mark the beginning of their…
Continue ReadingGM shares surge after record earnings and new stake in lithium company
By Chris Isidore, CNN General Motors reported a much stronger than expected fourth-quarter profit, lifting full-year results to record levels for the…
Continue ReadingUPS reports record profit but forecasts a slower 2023
By Chris Isidore, CNN UPS reported a record profit for 2022 as its revenue reached $100 billion for the first time since its founding in 1907. The…
Continue ReadingFrench workers bring Paris to a standstill in second mass strike over pension reforms
By Pierre Bairin and Hanna Ziady, CNN French schools and transportation networks were heavily disrupted Tuesday for the second time this month, as…
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