Money

By Wayne Chang and Michelle Toh, CNN Taipei/Hong Kong (CNN) — Terry Gou, the billionaire founder of major Apple supplier Foxconn, withdrew from the race to become Taiwan’s next president on Friday, just hours before the deadline to formally register as a candidate. “I have never yielded in the battlefield of international business,” Gou said in

By Olesya Dmitracova, CNN London (CNN) — Oil and gas producers must confront a “pivotal” choice: continue to accelerate the climate crisis or become part of the solution, the International Energy Agency said in a report Thursday. The industry currently accounts for only 1% of global investment in clean energy, and continues to pump out

By Peter Valdes-Dapena, CNN (CNN) — Electric cars are supposed to be the future, but they still have issues that are keeping away many car buyers. The range is too short. The batteries are too heavy and expensive. They take too long to charge. But a number of companies say they have the technology to

By Diksha Madhok and Juliana Liu, CNN New Delhi/Hong Kong (CNN) — A major wealth management company in China has told investors it can’t pay all its bills, reigniting fears that the country’s long-running real estate slump may be spilling over into the $3 trillion shadow banking sector. Zhongzhi Enterprise Group (ZEG) wrote to investors

By Michelle Toh, CNN Hong Kong (CNN) — Jack Ma has put off plans to sell hundreds of millions of dollars worth of Alibaba shares after the Chinese tech giant’s stock plummeted last week. Two regulatory filings from last Thursday revealed that Ma had been looking to offload 10 million shares, worth nearly $871 million.

By Rhea Mogul, CNN Hong Kong (CNN) — A Kashmir journalist who was arrested under India’s sedition and anti-terror laws has returned home Thursday after being released on bail following nearly two years behind bars. Fahad Shah, founding editor of The Kashmir Walla, an independent news outlet in Indian-administered Kashmir, was accused of publishing “anti-national content”

By Brian Fung, CNN (CNN) — The leadership crisis that engulfed OpenAI for nearly a week ended almost as abruptly as it began: With a terse, cryptic announcement by the company that would have enormous ramifications for its future. In some ways, the outcome was a return to the status quo: Sam Altman would be

By Jennifer Korn, CNN (CNN) — Spotify’s new royalty system means so-called functional noises like the sound of rainfall will earn significantly less than traditional music files. In an attempt to crack down on “bad actors” using the genre to fraudulently generate revenue, Spotify announced in a blog post Tuesday it would be increasing the

By Oliver Darcy and Liam Reilly, CNN (CNN) — Some of the world’s most recognizable brands have opted to continue their advertising partnerships with X despite the surge in hate speech on the platform and owner Elon Musk’s continued peddling of misinformation and right-wing conspiracy theories, including an endorsement last week of an antisemitic post.

By Clare Duffy, CNN New York (CNN) — At least a dozen major brands have halted ad spending on X, formerly Twitter, since its latest advertiser exodus began last week over concerns about antisemitism and hate speech on Elon Musk’s social media platform. Fox Sports, Ubisoft, Axios, TechCrunch and Paris Hilton’s 11:11 Media all told

By Anna Bahney, CNN Washington, DC (CNN) — Mortgage rates fell again in the most recent week, as inflation showed signs of slowing. It’s the fourth consecutive week of tumbling rates after rising for seven straight weeks. The 30-year fixed-rate mortgage fell to an average of 7.29% in the shortened week ending November 22, according to

By Elisabeth Buchwald, Bryan Mena and Nicole Goodkind, CNN New York (CNN) — The US government just sent a clear message to the world of cryptocurrency, a market valued at around $1.4 trillion. Just as crypto investors were hoping to move on from the historic conviction of Sam Bankman-Fried, the disgraced founder and former CEO of

By Anna Cooban, CNN London (CNN) — Oil prices tumbled more than 4% Wednesday after a group of the biggest oil producing nations said they would delay a meeting, originally scheduled for Sunday, that was expected to discuss making further cuts to global supply. Brent crude, the global benchmark, and West Texas Intermediate (WTI) crude,

CNN By Jennifer Korn and Paul Glader, CNN (CNN) — When technology firm OpenAI ousted its CEO Sam Altman last week with little warning and less explanation, it set off shockwaves throughout Silicon Valley and beyond. Late Tuesday, in a complete reversal, he rejoined the controversial firm he had helped found, effectively bouncing from the

By Jennifer Korn and Paul Glader, CNN (CNN) — When technology firm OpenAI ousted its CEO Sam Altman last week with little warning and less explanation, it set off shockwaves throughout Silicon Valley and beyond. Late Tuesday, in a complete reversal, he rejoined the controversial firm he had helped found, effectively bouncing from the board

By Luciana Lopez, CNN New York (CNN) — Economist Larry Summers, the former Obama and Clinton official, is joining an initial, revamped OpenAI board, as the company welcomes back CEO Sam Altman just days after he was ousted by the previous board. The addition of former Clinton Treasury Secretary Summers — as well as former

By Anna Cooban, CNN London (CNN) — The European Union is pulling its advertisements from Elon Musk’s X for now, citing an “alarming increase” in hate speech and disinformation on the platform formerly known as Twitter. A more drastic move could come next year. The European Commission, the bloc’s executive arm, could impose a fine

CNN By Clare Duffy, CNN New York (CNN) — At least a dozen major brands have halted ad spending on X, formerly Twitter, since its latest advertiser exodus began last week over concerns about antisemitism and hate speech on Elon Musk’s social media platform. Fox Sports, Ubisoft, Axios, TechCrunch and Paris Hilton’s 11:11 Media all