UK inflation rate breaks 3-month stretch of declines with surprise rise to 10.4%

U.K. inflation data paints a picture of the British economy. Bloomberg / Contributor / Getty Images U.K. inflation unexpectedly jumped in February, as food and energy bills continued to rise, placing further pressure on households. The consumer price index (CPI) increased by an annual 10.4%, above the 9.9% consensus forecast among economists in a Refinitiv … Read more

‘Cannabis in Germany will be a success story’: Europe’s biggest economy moves closer to weed legalization

Germany’s plans to legalize cannabis for adult-use are one of a series of socially progressive policies proposed by Chancellor Olaf Scholz’s “traffic light” coalition government. Picture Alliance | Getty Images BERLIN — Germany could be weeks away from introducing a bill to legalize cannabis under sweeping reforms that would greenlight the consumption and sale of … Read more

China and Russia affirm economic cooperation for the next several years

Chinese President Xi Jinping and Russian President Vladimir Putin toast during a reception following their talks at the Kremlin in Moscow on March 21, 2023. Pavel Byrkin | Afp | Getty Images BEIJING — Chinese President Xi Jinping and Russian President Vladimir Putin have agreed to cooperate on a range of economic and business areas, … Read more

These 10 funds had over $100 million each in Credit Suisse bonds — which are now worth nothing

A number of funds could be facing over $100 million in losses on their Credit Suisse investments after the lender’s forced merger with its rival UBS . The funds face losses on Credit Suisse’s additional tier-1 bonds (AT1), according to CNBC Pro analysis, after Swiss regulators deemed them worthless as part of the emergency merger … Read more

Give us your nominations: CNBC is ranking the world’s top fintech companies

In 2022, the fintech world took a beating, with some of the world’s most richly valued companies seeing their valuations slashed. But innovation is still happening — with a vengeance. Oscar Wong | Moment | Getty Images CNBC and independent research firm Statista are working together to identify the world’s top fintech companies, to be … Read more

Gold prices could notch an all-time high soon — and stay there

Investors have been flocking to gold and Treasurys as bank stocks have been whacked by the shuttering of Silicon Valley Bank and Credit Suisse’s implosion. Sven Hoppe | Picture Alliance | Getty Images Gold prices have more room to run as global banks struggle and the U.S. Federal Reserve renders another interest rate decision, potentially … Read more

Virgin Orbit returning ‘small’ team from unpaid pause on Thursday to prep for next rocket launch

Virgin Orbit flew its modified Boeing 747 airplane “Cosmic Girl” with the company’s LauncherOne rocket under its wing for the first time on November 18, 2018. Virgin Orbit Virgin Orbit is returning a “small” team to work on Thursday, according to a company-wide email obtained by CNBC, as it aims to prepare for its next … Read more

‘Inundated with requests’: Digital currency firms look to Swiss banks after crypto-friendly lenders fail

Switzerland has created what they dub “Crypto Valley” in the region of Zug. Nurphoto | Nurphoto | Getty Images Crypto firms are scrambling to find institutions to bank with after the collapse of Signature Bank and Silvergate Capital, two lenders that were friendly to digital currency companies. Some of these companies have turned to crypto-friendly … Read more

Japan defeats the United States 3-2 for World Baseball Classic championship

Team Japan celebrates after the final out of the World Baseball Classic Championship defeating Team USA 3-2 at LoanDepot park on March 21, 2023 in Miami, Florida. Megan Briggs | Getty Images Sport | Getty Images Shohei Ohtani emerged from the bullpen and fanned Los Angeles Angels teammate Mike Trout for the final out in … Read more