A version of this story first appeared in CNN Business’s Before the Bell newsletter. Not a subscriber? You can login exactly here. You can listen to an audio version of the newsletter by clicking the same link. CNN — Moody’s downgraded 10 US banks Monday night and put the credit ratings of six others under … Read more
CNN — Consumer resilience has helped keep the economy strong during the Federal Reserve’s rate-hiking cycle. But will this strength continue or will it fade away? It depends where you look. From Beyoncé’s “Renaissance” tour to the “Barbenheimer” trend to Taylor Swift’s “Eras” shows, US consumers have increased their spending power despite the slowdown in … Read more
CNN — The huge demand for AI has also revealed the limitations of the global supply chain for high-performance chips used to develop and deploy AI models. The ongoing chip shortage has impacted companies large and small, including some of the AI industry’s leading platforms, and is unlikely to improve significantly for at least a … Read more
new York CNN — Domino’s is still suffering from declines in the delivery business. A solution? More cars. Delivery is a key part of Domino’s business, and the chain has tried to stay away from third-party aggregators like DoorDash, which give restaurants access to their online platforms and drivers for a fee to stay in … Read more
A version of this story first appeared in CNN Business’s Before the Bell newsletter. Not a subscriber? You can login exactly here. You can listen to an audio version of the newsletter by clicking the same link. CNN — Stocks and consumer sentiment are rising in tandem after falling last year, another sign of growing … Read more
Hong Kong CNN — For international travelers, visiting China is now much easier. From Friday, Visitors can link their Visa (V) and Mastercard (MA) accounts to China’s most popular mobile payment platforms, allowing them to book taxis, ride the subway and pay for goods and services at millions of outlets across the nearly cashless country. … Read more
Johnson & Johnson will have to pay $18.8 million to a California man who said he developed cancer from exposure to his baby powder, a jury ruled Tuesday, a setback for the company that has thousands of similar cases of its talc-based products US bankruptcy court. The jury ruled in favor of Emory Hernandez Valadez, … Read more
Washington, D.C CNN — Some Federal Reserve officials are already arguing for two consecutive rate hikes starting this month in a bid to curb inflation. But will their influence endure despite a reshuffle in the Fed’s interest rate committee? Probably. St. Louis Fed President James Bullard, the Fed’s toughest voice, announced on Thursday that he … Read more
Editor’s Note: A version of this story appeared in CNN Business’s Nightcap newsletter. To get it in your inbox, sign up for free here. new York CNN — If Fed Chair Jerome Powell were less tight-lipped, he would have every right to call a press conference, step up to the podium in a T-shirt and … Read more
Hong Kong CNN — Ant Group has announced a $78.5 billion share buyback, down about $230 billion, or 75%, from the valuation it reached almost three years ago before its IPO was blocked by Chinese regulators became. The company was co-founded by Jack Ma, as was e-commerce giant Alibaba Group (BABA). Ant and Alibaba’s combined … Read more