China’s military drills around Taiwan threaten to upend global trade

Hong Kong CNN Business — China’s live-fire military drills around Taiwan are threatening to disrupt trade and commercial travel in East Asia, forcing vessels to reroute away from one of the world’s busiest waterways and putting further pressure on strained global supply chains. On Thursday, China kicked off drills involving the navy, air force and … Read more

Alibaba stock slides in Hong Kong after US delisting threat

Hong Kong CNN Business — Alibaba shares fell after US regulators added the stock to a growing list of Chinese firms that might be kicked off Wall Street if US auditors can’t inspect their financial statements. Alibaba (BABA) slid as much as 6% in Hong Kong on Monday morning, but then pared losses to 3.8% … Read more

US and China on a knife’s edge over Taiwan ahead of Xi-Biden phone call

CNN — No one can afford to look weak. The latest American showdown with China was sparked by leaked plans for a possible visit by House Speaker Nancy Pelosi to Taiwan – and is particularly dangerous because it is driven by domestic politics on both sides of the Pacific. The spat is already worsening poor … Read more

Europe dials down its plans to ration gas this winter

London CNN Business — The European Union has agreed to ration its natural gas this winter to prevent a severe supply shock. But the bloc has watered down its ambitions by offering countries some significant leeway. On Tuesday, EU energy ministers agreed to a voluntary target to reduce gas usage by 15% between August and … Read more

Nancy Pelosi’s possible visit to Taiwan raises concerns China might interfere with airspace, US official says

Washington CNN — Biden administration officials are concerned that China could seek to declare a no-fly zone over Taiwan ahead of a possible visit by House Speaker Nancy Pelosi as an effort to upend the trip, potentially raising tensions even further in the region, a US official told CNN . China could also respond by … Read more

US officials recovered possible Fabergé egg from Russian oligarch’s seized yacht

CNN — US law enforcement officials recovered what appeared to be a Fabergé egg from a yacht seized from a Russian oligarch in Fiji, Deputy Attorney General Lisa Monaco said Wednesday. The $300 million yacht, owned by sanctioned Russian oligarch Suleiman Kerimov, was sailed by US law enforcement officials from Fiji to the San Diego … Read more

Lula named Brazilian Workers’ Party presidential candidate

CNN — Former Brazilian president Luis Inacio Lula da Silva, widely known as Lula, is now officially standing as the Brazilian Workers’ Party (PT) presidential candidate, the party announced Thursday. Brazil’s presidential elections are scheduled for October 2, when Lula is expected to face off against current President Jair Bolsonaro. His bid for the presidency … Read more

Biden gives Saudis the gesture they wanted. But he returns to Washington with little in hand

Editor’s Note: A version of this story first appeared in CNN’s Meanwhile in the Middle East newsletter, a three-times-a-week look inside the region’s biggest stories. Sign up here. Jeddah, Saudi Arabia CNN  —  It was always going to be awkward – Crown Prince Mohammed bin Salman’s greeting with US President Joe Biden. Much speculated about, … Read more

Average rent in Manhattan jumps to a record $5,000 a month in June

CNN — Rent continued to skyrocket to new record highs in Manhattan last month. The median monthly rent paid by a tenant for a condo or coop in Manhattan climbed to $4,050 in June, up nearly 25% from a year ago and setting a new record high for the fifth month in a row, according … Read more

Here’s how North Korean operatives are trying to infiltrate US crypto firms

Washington CNN  —  Devin, the founder of a cryptocurrency startup based in San Francisco, woke up one day in February to the most bizarre phone call of his life. The man on the other end, an FBI agent, told Devin that the seemingly legitimate software developer he’d hired the previous summer was a North Korean … Read more