America’s Oldest Cheese Shop Files for Chapter 11 bankruptcy

Nothing that can stay Gouda: the premiere of this country has been declared bankrupt. Alleva Dairy, the deli in Little Italy that claims to be the oldest in the country, has filed for bankruptcy. Despite the huge setback, the cheddar seller plans to keep swinging brie even if it teeters on the edge. “After months … Read more

Jim Chanos Says This Is The Biggest Investment Story No One Is Talking About

Amid all the buzz about Russia’s invasion of Ukraine and efforts to curb inflation, investors are largely missing out on a huge story in China, famed short-seller Jim Chanos said on Wednesday. The problems in the Chinese real estate market are a distant third of the war and interest rate hikes designed to contain inflation. … Read more

Why Keeping a Roof Over Your Head Is Getting Even Harder

Americans looking to buy or rent a home have had a difficult year. Rents have risen by double digits in some cities. Meanwhile, buying a house is the most unaffordable since the mid-1980s. Mortgage rates have climbed above 6% and house prices remain just outside the record highs of recent months, pricing many potential home … Read more

Larry Summers predicted inflation, but now he’s looking on the bright side

““I would like to give you one very simple economic truth: would you rather live in a country where capitalists are rushing to get in, or would you rather live in a country where capitalists are rushing to get out?”” — Larry Summers Economist Larry Summers on Wednesday expressed an ultimately optimistic tone about the … Read more

Federal Reserve: Fed goes big again with third consecutive three-quarter-point rate hike

Washington, DC CNN Business — The Federal Reserve made history on Wednesday, approving a third straight increase of 75 basis points in an aggressive effort to tackle the red-hot inflation plaguing the US economy. The super-big hike, unfathomable to markets just months ago, is pushing the central bank’s benchmark lending rate to a new target … Read more

Uncertainty reigns in the UK housing market amid the Queen’s death, a new Prime Minister and an economy on the move

In early September, in the space of 48 chaotic hours, the UK lost its longest-reigning monarch, saw a king – the first in 70 years – rise in her place and see a new prime minister take office. Amid the unprecedented array of changes in both government and monarchy, it remains to be seen how … Read more

Chinese youth reject the busy culture; faced with unemployment, economic uncertainty

Crystal Guo says she usually works for about six months to a year before quitting. It’s what the 30-year-old describes as her new lifestyle of ‘intermittent work and persistent lying flat’. Young people in China are becoming disillusioned and frustrated with work and life, and some are now turning away from a crushing busy culture … Read more

China’s residential market is struggling, commercial may be a bright spot

Commercial real estate is a bright spot in Chinese real estate, in contrast to the doom and gloom in the housing market. Real estate analysts and developers said offices, warehouses and business parks are proving resilient and continuing to generate stable rental income – albeit discounted due to weaker demand. Hong Kong-listed real estate group … Read more

China’s economy is in bad shape and could stay that way for a while

Editor’s Note: A version of this story appeared in the CNN newsletter Meanwhile in China, a three-week update that explores what you need to know about the country’s rise and how it affects the world. Register here. Hong-Kong CNN Business — China is beset by serious economic problems. Growth has stalled, youth unemployment is at … Read more

The Queen’s Will: What Will Harry, Will, Charles and Andrew Inherit After the Queen’s Death?

As the royal family mourns the death of Queen Elizabeth II, many are beginning to wonder how the longest-serving immense wealth will be distributed among her relatives. Despite an estimated personal wealth of $657 million in 2022 consisting of assets, the Sovereign Grant and her personal income, according to ForbesThe Queen’s and her family’s personal … Read more