5 signs the world is headed for a recession

New York CNN Business  —  Around the world, markets are flashing warning signs that the global economy is teetering on a cliff’s edge. The question of a recession is no longer if, but when. Over the past week, the pulse of those flashing red lights quickened as markets grappled with the reality — once speculative, … Read more

Ukraine is ‘making progress’ on the battlefield thanks to skill of soldiers and strategic use of supplied weapons, defense secretary says

CNN  —  Secretary of Defense Lloyd Austin said he believes Ukraine is “making progress,” in the Kherson region of the country as they continue to counter Russia’s invasion, adding there has been a “kind of change in the battlefield dynamics.” Austin attributed the change to the skill of Ukrainian soldiers and their strategic use of … Read more

Kabul, Afghanistan: At least 23 dead after suicide bomb blast at Kaaj educational center

Kabul, Afghanistan CNN  —  A suicide bomb attack on an education center in Kabul has killed at least 23 people, most of whom are believed to be young women, in the latest sign of the deteriorating security situation in the Afghan capital. The explosion took place on Friday at the Kaaj education center, in a … Read more

Student loan forgiveness: Biden administration kicks off student loan debt forgiveness process

CNN  —  The Biden administration on Thursday is kicking off its efforts toward forgiving student loan debt, sending updates on the process via email before the window to apply opens next month. In August, President Joe Biden announced his decision to cancel up to $10,000 in student loan debt for individuals making less than $125,000 … Read more

The UK is gripped by an economic crisis of its own making

London CNN Business  —  A week ago, the Bank of England took a stab in the dark. It raised interest rates by a relatively modest half a percentage point to tackle inflation. It couldn’t know the scale of the storm that was about to break. Less than 24 hours later, the government of new UK … Read more

China’s yuan hovers near record lows against the dollar despite central bank warning

Hong Kong CNN Business  —  China’s yuan hovered near record lows against the US dollar on the offshore market on Thursday, as major currencies around the world continue to tumble after the Federal Reserve’s aggressive hikes. The yuan — also known as the renminbi —has been declining for months despite interventions by China’s central bank. … Read more

Markets in a tailspin get a big dose of chill from the Bank of England

This story is part of CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. New York CNN Business  —  All the drama out of the UK government is keeping me from catching up on the only UK drama I really want to consume, which is Love Island, season 8, … Read more

New lawsuit attempts to block Biden’s student loan forgiveness plan

Washington CNN  —  In one of the first significant legal challenges to President Joe Biden’s student loan forgiveness plan, a public interest lawyer filed a lawsuit Tuesday arguing that the policy is an abuse of executive power. Plaintiff Frank Garrison claims that because of the forthcoming student loan forgiveness, he will be forced to pay … Read more

Edward Snowden: Putin grants former NSA contractor Russian citizenship

CNN  —  Russian President Vladimir Putin has granted former NSA contractor Edward Snowden Russian citizenship, according to an official decree published on the Russian government portal Monday. Snowden is accused of espionage and theft of government property in the US for leaking troves of information on American intelligence and mass surveillance programs to the media. … Read more

Forget a soft landing. The market’s best hope is a “growth” recession

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. New York CNN Business  —  Investors are waking up to the harsh reality of just how much pain … Read more