London CNN Business — The Bank of England raised interest rates by three quarters of a percentage point on Thursday, the biggest hike in 33 years, as it tries to contain soaring inflation even as the UK economy slides towards a recession that could last two years. The central bank made its eighth interest rate … Read more
CNN — Saifullah Paracha, a former detainee at the Guatanamo Bay detention facility, has been repatriated to Pakistan, according to a statement from the Department of Defense. Defense Secretary Lloyd Austin previously notified Congress in September of his intent to repatriate Paracha, who had been held in US detention since 2003 for alleged ties to … Read more
Minneapolis CNN Business — The US economy grew last quarter, bouncing back after shrinking in the first half of the year — but there are indications that consumer spending, which powers the US economy, is starting to soften. Gross domestic product — the broadest measure of economic activity — rose by an annualized rate of … Read more
Sign up for CNN’s Wonder Theory science newsletter. Explore the universe with news on fascinating discoveries, scientific advancements and more. CNN — The International Space Station fired its thrusters to maneuver out of the way of a piece of oncoming Russian space junk, NASA said late Monday. The space agency said in a news release … 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. London CNN Business — Twelve days from now, the Federal Reserve will meet again, and expectations for the … Read more
CNN — The son of an American citizen imprisoned in Saudi Arabia for criticizing the Saudi government said Tuesday evening that his father is “nowhere near being a dissident.” “My father is a senior American citizen who just wants to live freely and happy in the United States where he got his education,” Saad Ibrahim … Read more
Washington CNN — The Iran nuclear deal is “not our focus right now,” US State Department spokesperson Ned Price said Wednesday, noting the administration was instead focusing on supporting the protesters in Iran as efforts to restore the nuclear deal have hit yet another impasse. “The Iranians have made very clear that this is not … Read more
This story is part of CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. New York CNN Business — The Nobel in economics is sort of the step-cousin of the Nobel family. It came about nearly 70 years after its literature and sciences counterparts, in 1969, and is technically … Read more
CNN — Anna Sorokin, the fake heiress Netflix’s “Inventing Anna” is based on, was released from ICE detention on Friday. Juda Engelmayer, a spokesman for Sorokin, confirmed her release in an email to CNN Friday night. “She will remain under the supervision of ICE, but will be able to fight her deportation free from physical … Read more
Editor’s Note: Gad Levanon is the chief economist at the Burning Glass Institute. He’s the former head of The Conference Board’s Labor Market Institute. The opinions expressed in this commentary are his own. To many economists and analysts, the US economy has represented a paradox this year. On the one hand, GDP growth has slowed … Read more