Markets hate Liz Truss’ plan for the UK. Just look at these charts

London CNN Business — When the UK government, led by the new Prime Minister Liz Truss, unveiled its plan to rescue the British economy on Friday, the reaction from investors was instantaneous: They hated it. The British Pound crashed below $1.10 by mid-afternoon, hitting a new 37-year low against the greenback. UK government bonds also … Read more

Biden, Xi talk more than 2 hours at time of US-China tension

WASHINGTON (AP) — President Joe Biden and China’s Xi Jinping held the fifth conversation of their presidencies on Thursday, speaking for more than two hours as they chart the future of their complicated relationship at a time of simmering economic and geopolitical tensions. The call began at 8:33 am EDT and ended at 10:50 am … Read more

US tells China its support for Russia complicates relations

NUSA DUA, Indonesia — China’s support for Russia’s war in Ukraine is complicating US-Chinese relations at a time when they are already beset by rifts and enmity over numerous other issues, US Secretary of State Antony Blinken told his Chinese counterpart on Saturday. Chinese Foreign Minister Wang Yi blamed the US for the downturn in … Read more

Inside the Treasury Department’s economic war on Russia

Washington CNN  —  Three months into US-led sanctions designed to crush Russia’s economy for its war in Ukraine, Russia has appeared surprisingly resilient. The ruble has rebounded and is now worth more than before the invasion. The Kremlin’s coffers are overflowing from record oil and gas sales. Even McDonald’s has reopened in Russia, rebranded under … Read more

Workers stayed in their jobs for years. Now they want a change

London CNN Business — In the past 12 months, a record number of Americans have quit their jobs, and workers around the world have been paying attention. “The Great Resignation is people saying, ‘Whatever the situation is, I want better,’” Patrecia Ming Buckley told CNN Business. The 35-year-old, who is based in Sydney, made the … Read more

Inflation is so hot the Fed may have to hike interest rates like it’s 1994

new York CNN Business — Inflation is so hot that Wall Street banks are falling over each other to predict the dramatic moves the Federal Reserve will have to make to cool prices off. Goldman Sachs raised eyebrows earlier this week by forecasting the Fed will raise interest rates by a half a percentage point … Read more

‘Great Resignation’ goes global and shakes up labor market for good

Millions of workers worldwide have quit their jobs without something else lined up. So, what is the Big Quit, and how will it change our workforce? Chloe Loh, like many other workers across the world, epitomizes the “Great Resignation.” “I left my job in December,” Loh told CNBC. “I was looking for a role that … Read more

What we know about Brittney Griner’s arrest in Russia

CNN — It’s still not clear exactly when US basketball star Brittney Griner was arrested or where she is now. Griner, 31, is a championship-winning player with the WNBA’s Phoenix Mercury and spends her offseasons playing for the Russian team UMMC Ekaterinburg. Now, the mystery surrounding her detainment in Russia has come to symbolize the … Read more