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

US dollar hits new 20-year high as Russia calls up reservists

London CNN Business — The US dollar climbed to a new two-decade high on Wednesday after Russia said it was mobilizing 300,000 military reserves in an escalation of the war in Ukraine. In a televised national address, President Vladimir Putin announced an immediate partial mobilization of Russian citizens and Wednesday means threatened to use “all … Read more

Chinese company profits are collapsing as zero-Covid takes its toll

Hong Kong CNN Business — China is suffering one of its worst earnings recessions on record as Beijing’s zero-Covid policy and a real estate crisis take their toll on the country’s listed companies. More than 4,800 Chinese companies listed in Shanghai, Shenzhen and Beijing have now released their earnings for the first half of the … Read more

Chile referendum: Consensus crumbles around new progressive constitution

Santiago, Chile CNN  —  In the past few weeks, Daniela Jorquera, a 55-year-old Chilean sociologist who defines herself as progressive, started going to rallies to support adopting a new constitution. “I saw a lot of young people, families. There was music and colorful flags; it had nothing to do with the political confrontation we see … Read more

‘This will change everything for me’: Americans react to Biden’s plan to forgive up to $20k in student loan debt

CNN — Americans across the country are sharing their mixed reactions to President Joe Biden’s decision to forgive up to $20,000 in student loan debt for millions of borrowers. Biden announced Wednesday that borrowers who hold loans with the Department of Education and make less than $125,000 annually are eligible for up to $20,000 in … Read more

5 things to know for August 23: Ukraine, Primaries, Student loans, Covid-19, NASA

CNN — With inflation driving up the cost of nearly everything in the US, a growing number of Americans are crossing the border to make Mexico City their new home. Some expats are fleeing their expensive cities in search of cheaper rent and a better quality of life, but locals say gentrification is now pricing … Read more

Student loans: Education secretary says announcement to come in the ‘next week or so’ as August deadline looms

CNN — US Education Secretary Miguel Cardona said Sunday that Americans can expect a decision from the Biden administration on student loans in the “next week or so” as a pause on federal student loan payments is set to expire on August 31. With some 10 days to go, Americans have been left guessing whether … Read more

Ukrainian grain deal ‘lays groundwork for permanent peace environment,’ says Turkey

CNN — Some 27 ships loaded with grain have left Ukraine’s Black Sea ports since August 1 under an export deal brokered by the United Nations and Turkey, which has laid “the groundwork for a permanent peace environment,” Turkey’s Defense Minister said in a speech on Saturday. “Since August 1, a total of 53 vessels … Read more

TJ Cox indicted on federal money laundering and wire fraud charges

CNN — Former US Rep. TJ Cox, a Democrat from California, has been indicted on federal money laundering and wire fraud charges related in part to campaign donations, according to court documents unsealed Tuesday. Cox pleaded not guilty in federal court on Tuesday afternoon, following his arrest hours before at the Fresno County federal courthouse, … Read more

5 takeaways from Joe Biden’s first presidential trip to the Middle East

CNN — President Joe Biden on Saturday capped a four-day trip to Israel and Saudi Arabia, his first trip to the Middle East since taking office. The President started his trip by meeting with Israeli leaders to expand security ties with the nation and discuss countering efforts by Iran to destabilize the region. He next … Read more