Category Archives: CNN – Business

HSBC and other big banks call for a peaceful end to Hong Kong’s protests

HSBC and other big banks call for a peaceful end to Hong Kong’s protests

Global banks want Hong Kong’s political crisis to be over. HSBC, Standard Chartered and the Bank of East Asia each placed advertisements in several local newspapers on Thursday, calling for a peaceful resolution to the months-long standoff between the city’s government and pro-democracy protesters. HSBC, a British financial powerhouse that set up shop in Hong…MORE

Asian markets mixed as big regional companies report earnings

Asian markets mixed as big regional companies report earnings

Asian markets were mixed Thursday as investors digested a slew of corporate earnings. Japan’s Nikkei 225 rose 0.1%, while Hong Kong’s Hang Seng Index fell 0.5%. China’s Shanghai Composite Index was flat. South Korea’s Kospi fell 0.5%. Qantas Airways, Australia’s largest airline, jumped 3.3% in Sydney. The company reported a 17% drop in underlying pretax…MORE

Fed officials sought rate flexibility amid conflicting economic signals, minutes show

Fed officials sought rate flexibility amid conflicting economic signals, minutes show

Minutes of the Fed’s July interest-rate setting policy meeting released Wednesday showed that central bankers are eager “to maintain optionality” when it comes to charting the course of future interest rate changes for the remainder of this year — and into 2020. The minutes will reinforce the message that Federal Reserve Chairman Jerome Powell sent…MORE

Walmart, a longtime seller of firearms, is reevaluating its position on guns

Walmart, a longtime seller of firearms, is reevaluating its position on guns

Walmart founder Sam Walton was such a fan of firearms and hunting that Remington once named a shotgun after him. His company has long been one of the largest gun retailers in the United States. But in recent years, Walmart has reevaluated its relationship with guns. As mass shootings in America have become more frequent…MORE

Americans love Target. That’s bad news for Macy’s and JCPenney

Americans love Target. That’s bad news for Macy’s and JCPenney

The winners and losers of America’s great retail shakeout are becoming clear. Target and Walmart are definitely winners. Just about every traditional department store is losing. Sales at Target stores open at least a year increased 3.4% during the summer quarter and profit rose, Target said Wednesday. Target beat Wall Street’s predictions for the recent…MORE

Bonds flash another recession warning sign, even as Dow rallies 240 points

Bonds flash another recession warning sign, even as Dow rallies 240 points

The Dow staged a comeback on Wednesday, even as the bond market was once again flashing a recession warning sign. The 10-year US Treasury yield briefly fell below the 2-year yield Wednesday afternoon. It marked the second time the yield curve inverted this month. A yield curve inversion happens when long-term bond yields fall below…MORE

Is a recession coming? Here’s how to tell

Is a recession coming? Here’s how to tell

Warning bells are going off about a possible recession in America, perhaps in time for the 2020 election. The key to whether the US economy keeps growing or stalls rests largely on consumers, and whether or not they keep spending. So far, consumer spending has held up pretty well. That’s not surprising. Unemployment is near…MORE

Huawei executive Meng Wanzhou claims US and Canada unlawfully detained her

Huawei executive Meng Wanzhou claims US and Canada unlawfully detained her

Attorneys for Huawei’s chief financial officer want a Canadian court to halt her extradition case based on what they claim was misconduct by US and Canadian authorities. That argument was detailed in court documents released Tuesday in Vancouver, where Meng Wanzhou is awaiting a hearing on her possible extradition to the United States. Meng was…MORE

Tax cuts are back on the agenda. They’re not a done deal

Tax cuts are back on the agenda. They’re not a done deal

Happy Wednesday. A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. Central bankers will take center stage when they gather in Jackson Hole later this week. But for now, as investors sit and wait, monetary policy isn’t what’s generating the most…MORE