Fed sees interest rate hikes continuing until inflation eases substantially, minutes show

The FOMC on Wednesday released minutes from its July 26-27 meeting, when it raised interest rates by 0.75 percentage point.

The world's largest sovereign wealth fund loses $174 billion in the first half, cites inflation and war in Europe

The $1.3 trillion fund returned a negative 14.4% during the period, as stocks and bonds reacted violently to global recession fears and skyrocketing inflation.

UK inflation hits new 40-year high of 10.1% as food and energy price surge continues

U.K. inflation rose to another 40-year high in July as spiraling food and energy prices continued to intensify the country's historic squeeze on households.

Tencent, the $370 billion Chinese tech giant, posts first ever revenue decline

Tencent posted its first ever quarterly year-on-year revenue decline as stricter regulations around gaming in China and a resurgence of Covid hit the tech giant.

Drought conditions in Britain prompt water restrictions for millions in London

The Temporary Use Ban is set to come into effect from August 24.

Crypto broker Genesis slashes 20% of workforce and announces CEO exit after loans soured

Genesis CEO Michael Moro is leaving and the company is cutting jobs after losing money from loans to bankrupt hedge fund Three Arrows Capital.

'Avatar,' Spider-Man and Star Wars return to the big screen as summer box office winds down

Disney and Sony are rereleasing "Rogue One," "Spider-Man: No Way Home" and "Avatar" in domestic theaters in the coming weeks.

Manchester United shares briefly pop 17% in premarket after Elon Musk jokes about buying the club

Shares of the English soccer club Manchester United Plc briefly rose by as much as 17% in premarket trading on Wednesday.

Monkeypox cases jumped 20% in the last week to 35,000 across 92 countries, WHO says

Nearly all cases are reported in Europe and the Americas among men who have sex with men, according to the WHO.

OPEC not to blame for soaring inflation, new chief says, citing underinvestment in oil and gas

New OPEC Secretary-General Haitham Al Ghais said Wednesday that the influential producer group is not to blame for soaring inflation.

'Boomerang' employees are back in force. Why you should — or shouldn’t — try to get your old job back

Did you quit your job during the pandemic and now hope to get it back? CNBC Make It finds out the pros and cons of doing so.

A high-profile meeting in China may have tipped off which provinces will have highest growth

Chinese Premier Li Keqiang has called on six provinces to take the lead in supporting the country's growth after July data showed a slowdown across the board.

Wall Street analysts are betting on another red-hot commodity rally before year-end

Commodities have broadly pulled back from their recent peaks, but Wall Street analysts say the fundamentals are pointing to another rally by year-end.

China needs Taiwan's biggest chipmaker — more than the other way around

Taiwan Semiconductor Manufacturing Company has limited revenue and manufacturing exposure to mainland China, while dominating the world's advanced chip tech.

Japanese support for a nuclear restart is at its highest since Fukushima disaster, says former IEA executive director

It's the first time since the disaster that public support for a nuclear restart is over 60%, said Nobuo Tanaka, citing a possible energy crunch as a reason.

Biden signs Inflation Reduction Act into law, setting 15% minimum corporate tax rate

After more than a year of debate, Biden's sweeping infrastructure bill is became law — albeit a significantly smaller version of his Build Back Better plan.

BlackRock makes $700 million investment in Australian battery storage

BlackRock says Akaysha has plans to develop energy storage projects in a range of Asia-Pacific markets.

Apple and Meta headsets could face a big challenge: Sticker shock

Apple and Meta are developing technology for mixed reality that requires a lot of expensive parts and a powerful headset.

Looking for an offbeat European holiday? This island has its own rules, language and vodka

Accessible via ferry or flight, Jersey has nearly 50 miles of coastline, more sunshine than mainland U.K. and plenty for travelers to do in the Channel Islands.

Bed Bath & Beyond soars as much as 70% as meme traders talk up Ryan Cohen's call options purchase

Bed Bath & Beyond jumped as meme stock traders piled in, encouraged by GameStop Chairman Ryan Cohen placing another bet on the struggling retailer.

Dodge's first electrified vehicle will be a new crossover called the Hornet

The first electrified vehicle for Stellantis' Dodge brand will be a plug-in hybrid crossover called the Hornet, a resurrected name of a 1970s station wagon.

Jim Cramer warns investors not to bet prematurely on a soft landing

Jim Cramer issued a warning to fair-weather bulls on Tuesday's episode of "Mad Money."

Homebuyers are backing out of more deals as high mortgage rates persist and recession fears linger

Homebuilder cancellation rates have more than doubled since April, according to surveys by John Burns Real Estate Consulting.

China’s $370 billion tech giant Tencent could post its first revenue decline on record

A Covid-induced slowdown in the Chinese economy and continued challenges in the domestic gaming market could prove strong headwinds for Tencent.

U.S. Navy is seeing more 'unsafe' aerial intercepts by China, says Seventh Fleet commander

Karl Thomas said on Tuesday that he's seen a increase in "unsafe" aerial intercepts by Chinese military in the South China Sea region.

Salman Rushdie's 'The Satanic Verses' leaps to top of Amazon bestseller lists

The author's "The Satanic Verses" topped several Amazon's bestselling book lists on Tuesday, days after he sustained serious injuries in a stabbing.

Walmart sticks with second-half outlook after earnings beat expectations

The retailer's profits are under pressure, as consumers feel pinched by inflation and buy fewer high-margin items, such as apparel and electronics.

Chinese food delivery giant Meituan tanks 9% after Tencent reportedly plans to divest $24 billion stake

Tencent, which owns 17% of Meituan, is planning to placate domestic regulators and cash in on its eight-year-old investment, Reuters reported.

American Airlines agrees to buy 20 supersonic planes from Boom

American Airlines has agreed to purchase 20 supersonic Overture planes from Boom Supersonic, the second firm order for Boom in the last two years.

'How do I know if I was vaccinated for polio?' and other trending questions about the virus, answered by a doctor

The first U.S. polio case since 2013 was detected last month. A doctor answers 'Was I vaccinated for polio?' and other urgent questions about the virus.

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