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CNBC Economic News

Businesses added 208,000 jobs in September, better than expected, ADP reports

12 hours 57 min ago
Businesses added 208,000 for the month, better than the 200,000 Dow Jones estimate and ahead of the upwardly revised 185,000 in August.

Why the Federal Reserve won't be so quick to ease up on its fight against inflation

Tue, 10/04/2022 - 12:23
The consequences for the Federal Reserve not bringing inflation under control could be severe.

Job openings plunged by more than 1.1 million in August

Tue, 10/04/2022 - 09:01
Available positions totaled 10.05 million for the month, a 10% drop from the 11.17 million reported in July.

Mortgage mayhem sparks fears of a housing market crash in Britain

Tue, 10/04/2022 - 02:37
"A scenario whereby house prices crash ... is looking increasingly likely," U.K. economist Andrew Goodwin warned.

How Gautam Adani became the world's fourth richest person while billionaires like Jeff Bezos lost tens of billions

Fri, 09/30/2022 - 12:53
In 2021, Gautam Adani was not on the top 10 list of the world's richest people. But in 2022, the Indian billionaire settled in behind Jeff Bezos and Bernard Arnault as No. 4.

Fed's preferred gauge shows inflation accelerated even more than expected in August

Fri, 09/30/2022 - 05:46
The personal consumption expenditures price index excluding food and energy rose 0.6% for the month after being flat in July.

Jobless claims hit five-month low despite Fed's efforts to slow labor market

Thu, 09/29/2022 - 08:00
Initial filings for unemployment claims fell last week to their lowest level in five months, a sign that the labor market is strengthening.

Erdogan says Turkey will keep cutting interest rates, mocks British pound

Thu, 09/29/2022 - 06:44
Erdogan doubled down on his controversial monetary plan on Thursday, saying that he told central bank decision-makers to continue lowering rates.

Billionaire investor Ray Dalio says UK’s economic plan 'suggests incompetence'

Wed, 09/28/2022 - 06:43
The financial market turmoil resulting from the U.K. government's spending plan "suggests incompetence," according to billionaire investor Ray Dalio.

Larry Summers blasts UK tax cuts as 'utterly irresponsible' and warns of possible contagion

Tue, 09/27/2022 - 02:22
Former U.S. Treasury Secretary Larry Summers said there were "hallmark" signs that the U.K.'s credibility had been lost.

New minimum tax could hit Berkshire Hathaway and Amazon hardest, study shows

Sun, 09/25/2022 - 10:33
The 15% minimum tax would impact around 78 companies, according to 2021 financial data, with Berkshire and Amazon paying the most.

Atlanta Fed President Bostic expects job losses but says there’s a really good chance to get to 2% inflation without killing the economy

Sun, 09/25/2022 - 09:35
Raphael Bostic, the president of the Federal Reserve Bank of Atlanta, signaled optimism for the Fed's policies to temper inflation.

Bank of England hikes by 50 basis points, says UK may already be in recession

Thu, 09/22/2022 - 05:16
The Bank of England voted to raise its base rate to 2.25% from 1.75% Thursday, lower than the 0.75 percentage point rise that had been expected by many traders.

'Path to oblivion': Ukraine military gains could deepen Russia's economic problems

Tue, 09/20/2022 - 23:12
Ukraine's counteroffensive, which has seen vast swathes of Russian-occupied territory get recaptured, could be compounding Russia's economic troubles.

Here’s why Hispanic workers could face an outsized hit in a U.S. recession

Fri, 09/16/2022 - 13:55
Hispanic workers have been disproportionately affected by past recessions and the next one will likely be no different, according to Wells Fargo.

‘The economy is braking hard’ and CEO confidence is miserable, says billionaire investor Barry Sternlicht

Thu, 09/15/2022 - 07:34
The economy is on the brink of serious downturn if the Fed doesn't pump the brakes on its rate hikes, billionaire CEO Barry Sternlicht said.

Retail sales growth sluggish in August as consumers fight to keep up with inflation

Thu, 09/15/2022 - 06:34
Advance retail sales for the month increased 0.3% from July, better than the Dow Jones estimate for no change.

Wholesale prices fell 0.1% in August amid inflation fears

Wed, 09/14/2022 - 07:46
The producer price index, a gauge of prices received at the wholesale level, declined 0.1%, according to a Bureau of Labor Statistics report.

Inflation isn't just about fuel costs anymore, as price increases broaden across the economy

Tue, 09/13/2022 - 10:15
Rather than fuel, it was food, shelter and medical services that drove costs higher in August, slapping a costly tax on those least able to afford it.

Inflation rose 0.1% in August even with sharp drop in gas prices

Tue, 09/13/2022 - 06:52
The consumer price index for August was expected to decrease 0.1% from the previous month and increase 8% from a year ago, according to Dow Jones.