London CNN — Europe’s two largest central banks raised interest rates sharply on Thursday, opting for bigger increases than the US Federal Reserve as inflation in the region remains near historically high levels. The European Central Bank (ECB) and the Bank of England lifted rates by another half a percentage point. Benchmark interest rates for … Read more
Hong Kong/London CNN — Shell made a record profit of almost $40 billion in 2022, more than double what it raked in the previous year after oil and gas prices soared following Russia’s invasion of Ukraine. Europe’s largest oil company by revenue reported adjusted full-year earnings of $39.9 billion on Thursday — more than double … Read more
London CNN — Indian billionaire Gautam Adani on Wednesday abandoned a deal to raise $2.5 billion from investors after a week-long meltdown in the value of his logistics and energy business empire that started when an American short seller accused the conglomerate of fraud. The share sale — the largest offering by a company already … Read more
London CNN — Europe’s stock markets have beaten Wall Street by the biggest margin in more than three decades over recent months as its economy looks set to dodge a recession many thought inevitable just a few weeks ago. Since late September, European market benchmarks have risen by 20 percentage points more than Wall Street … Read more
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. Washington CNN — Investors appear to be preparing for another match-up against their favorite sparring partners at … Read more
London CNN — Europe’s stock markets have beaten Wall Street by the biggest margin in more than three decades over recent months as its economy looks set to dodge a recession many thought inevitable just a few weeks ago. Since late September, European market benchmarks have risen by 20 percentage points more than Wall Street … Read more
CNN — President Joe Biden and House Speaker Kevin McCarthy’s talks on Wednesday are about more than a Washington power game. If the two most important leaders in Washington can’t agree to lift the debt ceiling by the time the Treasury runs out of money to pay its debts, the United States – the world’s … Read more
New York CNN — Snapchat’s parent company reported stalled revenue growth and a large net loss for the final three months of 2022, as it confronts tighter advertiser budgets amid broader economic uncertainty. Snap’s quarterly revenue was just shy of $1.3 billion, essentially flat from the year prior. For the full year, Snap’s revenue grew … Read more
Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. New York CNN — Asia’s richest man is in the crosshairs of a research firm whose very name evokes panic. Hindenburg Research — named after the 1937 airship disaster — is … Read more
New York CNN — Stocks were slightly lower Monday following a solid rally last week. Investors may have jitters ahead of this week’s big Federal Reserve meeting, a deluge of earnings from top tech firms and the jobs report on Friday. But it’s still been a solid start to the year for the market — … Read more