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US economy likely returned to growth last quarter
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US economy likely returned to growth last quarter

WASHINGTON — The problems have hardly gone away. Inflation, still near a 40-year high, is punishing households. Rising interest rates have derailed the housing market and threaten to inflict broader damage. And the outlook for the world economy grows bleaker the longer that Russia’s war against Ukraine drags on. But for now anyway, the U.S....

Premarket stocks: Don’t be fooled by a strong GDP report
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Premarket stocks: Don’t be fooled by a strong GDP report

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. New York CNN Business  —  Imminent recession is the topic du jour. From Goldman Sachs to the IMF,...

China GDP: Hong Kong stocks plunge 6% as fears about Xi’s third term trump data
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China GDP: Hong Kong stocks plunge 6% as fears about Xi’s third term trump data

Hong Kong CNN Business  —  Hong Kong stocks had their worst day since the 2008 global financial crisis, just a day after Chinese leader Xi Jinping secured his iron grip on power at a major political gathering. Foreign investors spooked by the outcome of the Communist Party’s leadership reshuffle dumped Chinese equities and the yuan...

Pound holds ground as Rishi Sunak leads race to become UK prime minister
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Pound holds ground as Rishi Sunak leads race to become UK prime minister

London CNN Business  —  Britain’s third prime minister in seven weeks will face the huge challenge of projecting stability after a period of historic political and financial market chaos. But their other task — shepherding the country through a recession — is poised to be just as daunting. Rishi Sunak emerged over the weekend as...

Treasury yields climb as recession fears spread
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Treasury yields climb as recession fears spread

Treasury yields rose across the board on Wednesday as concerns over a recession spread among investors, and markets looked ahead to the release of housing market data. The yield on the 10-year Treasury climbed to 4.088% at roughly 10:45 a.m. ET, up by 9 basis points after hovering just below the key 4% level for...

Liz Truss was defeated by the bond market. Investors aren’t satisfied yet
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Liz Truss was defeated by the bond market. Investors aren’t satisfied yet

London CNN Business  —  After a bruising three-week battle with bond markets, UK Prime Minister Liz Truss admitted defeat on Friday. She fired her finance minister and gutted her economic program by promising to reinstate a big tax hike on corporations. Truss said she acted in the national interest to ensure economic stability and to...

Xi Jinping’s Party Congress speech: yes to zero-Covid, no to market reforms?
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Xi Jinping’s Party Congress speech: yes to zero-Covid, no to market reforms?

Hong Kong CNN Business  —  Even though China’s economy is beset by problems ranging from a real estate crisis to youth unemployment, Xi Jinping did not offer any grand ideas to set the country back on track during his two-hour opening speech at the Communist Party Congress on Sunday. The Chinese leader is expected to...