London CNN — Bernard Arnault, the chairman of French luxury goods giant LVMH (LVMHF), has just become the first European to top Bloomberg’s list of the world’s richest people, relegating Elon Musk to second place. Now worth $171 billion, Arnault’s wealth eclipsed the Tesla CEO’s $164 billion fortune on Tuesday, according to the Bloomberg Billionaires […]
Minneapolis CNN — Inflation as measured by the Consumer Price Index cooled considerably in November and is at its lowest level in almost a year. Prices rose 7.1% annually in November, down from 7.7% in October, according to the Bureau of Labor Statistics’ closely watched index, which measures the change in prices paid by consumers […]
Hong Kong CNN — China has challenged a move by the United States to block sales of advanced computer chips and chip-making equipment to Chinese companies by launching a trade dispute at the World Trade Organization, calling the measures “trade protectionism.” The country’s commerce ministry filed a formal complaint against the United States with the […]
Hong Kong CNN — Semiconductor giant TSMC was feted this week by US President Joe Biden and Apple CEO Tim Cook during a ceremony to unveil its $40 billion manufacturing site in Arizona — a huge investment designed to help secure America’s supply of the most advanced chips. But back home in Taiwan, there is […]
New York CNN Business — Coca-Cola is hoping that this holiday season, families will crack open some Cokes, settle into a comfy spot and watch its first Christmas Anthology film series. The beverage company partnered with production firm Imagine Entertainment to create three short films, which are available to watch on Amazon Prime across the […]
New York CNNBusiness — There’s at least one group of shoppers excitedly hitting malls this holiday season — and they don’t seem to be too bothered about pesky inflation eating into their discretionary dollars. They’re Gen Z. And the way they shop matters. This cohort of consumers born between 1997 and 2012 is among the […]
Hong Kong CNN Business — The central Chinese city of Zhengzhou, home to the world’s largest iPhone factory, has lifted a five-day Covid lockdown, in a move that analysts have called a much-needed relief for Apple and its main supplier Foxconn. Zhengzhou is the site of “iPhone City,” a sprawling manufacturing campus owned by Taiwanese […]
New York CNN Business — Americans dished out for toys, televisions and clothing on Black Friday and into the holiday weekend, despite decades-high inflation and a potential recession looming in 2023. The National Retail Federation, a trade group for the retail industry, said a record 196 million Americans shopped in stores and online over the […]
New York CNN Business — Online Black Friday sales in the United States topped a record-breaking $9.12 billion this year, according to Adobe Analytics, kicking off a solid start to the holiday shopping season despite inflation and other economic concerns. Adobe, which tracks sales on retailer websites, said that this year’s Black Friday online sales […]
Hong Kong CNN Business — A violent workers’ revolt at the world’s largest iPhone factory this week in central China is further scrambling Apple’s strained supply and highlighting how the country’s stringent zero-Covid policy is hurting global technology firms. The troubles started last month when workers left the factory campus in Zhengzhou, the capital of […]
