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 […]
New York CNN — The Federal Reserve is expected to raise interest rates by half a point at the conclusion of its two-day policy meeting on Wednesday, an indication that the central bank is pulling back on its aggressive stance as signs begin to emerge that inflation may be easing. Although that increase would be […]
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 […]
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 — It seems like you can’t go anywhere these days without colliding headfirst into […]
New York CNN Business — Here’s more bad news for Tesla CEO Elon Musk — as if he needs any. Investors who took short positions in Tesla stock have made an $11.5 billion profit so far this year, according to Wall Street analytics firm S3 Partners, as Tesla shares lost about half their value. That’s […]
New York CNN Business — A must-pass defense bill now being negotiated in Congress includes new sanctions designed to trip up Russia’s war machine by targeting Moscow’s mountain of gold. The legislative text of the National Defense Authorization bill for fiscal 2023 includes language from a bipartisan bill introduced in March that would make it […]
Hong Kong CNN Business — Chinese President Xi Jinping is visiting Saudi Arabia this week for the first time in nearly seven years, during which he is expected to sign billions of dollars of deals with the world’s largest oil exporter and meet leaders from across the Middle East. The visit is a sign that […]
CNN Business — Ramesh “Sunny” Balwani, the former chief operating officer of failed blood testing startup Theranos, is set to be sentenced on Wednesday for fraud, marking an end to the stunning downfall of a high-flying Silicon Valley company that resulted in the rare convictions of two tech executives. The sentencing comes weeks after Elizabeth […]
New York CNN Business — It’s time to sing a requiem for a meme. Meme stocks, that is. Companies that attracted rabid followings from traders on Reddit and other social media sites in 2021 are struggling. Just look at GameStop. Shares of the video game retailer, which will report its latest results after the closing […]
