Money

By Eric Cheung, CNN Taipei (CNN) — Taiwan’s Foxconn says it plans to build artificial intelligence (AI) data factories with technology from American chip giant Nvidia, as the electronics maker ramps up efforts to become a major global player in electric car manufacturing. Foxconn Chairman Young Liu and Nvidia CEO Jensen Huang jointly announced the

By Tami Luhby, CNN New York (CNN) — Workers and their employers are paying a lot more for job-based health insurance this year. The annual cost of family health insurance coverage at work soared to an average of nearly $24,000 this year, according to KFF’s Employer Health Benefits Survey, released Wednesday. That’s up 7% from

By Michelle Toh and Kayla Tausche, CNN Hong Kong/Washington (CNN) — The Biden administration is reducing the types of semiconductors that American companies will be able to sell to China, citing the desire to close loopholes in existing regulations announced last year. On Tuesday, the US Commerce Department unveiled new rules that further tighten a

By Laura He, CNN Hong Kong (CNN) — China’s economy has regained momentum in the third quarter, with gross domestic product (GDP) expanding by 4.9% from a year ago, the National Bureau of Statistics (NBS) said on Wednesday. That was above the estimate of 4.4% growth from a Reuters poll of analysts, and puts Beijing’s

By Clare Duffy, CNN New York (CNN) — After Elon Musk hinted last month that X could start charging all users, the company (formerly known as Twitter) announced a test of such a system. X said in a post on Tuesday that it is testing a new program called “Not a Bot” in which new

By Peter Valdes-Dapena, CNN Business (CNN) — General Motors is putting off adding a second factory for production of its electric pickups until late 2025, the automaker announced Tuesday. The Silverado EV is now being produced at GM’s Factory Zero Detroit-Hamtramck Assembly, where it is built alongside the GMC Hummer EV. The GMC Sierra EV

By Parija Kavilanz, CNN New York (CNN) — Victoria’s Secret, for the first time, has introduced a collection of bras and panties specifically designed to meet the needs of women with disabilities. The retailer announced the launch of the VS & PINK Adaptive line on Tuesday and said the merchandise is now available to customers

By Ariel Edwards-Levy, CNN (CNN) — Americans overwhelmingly side with unionized autoworkers in their ongoing strike against major car companies, a new CNN poll conducted by SSRS finds, even as most say that elected officials should steer clear of labor disputes. Asked about the current United Auto Workers union strike against General Motors, Ford and

By Matt Egan, CNN New York (CNN) — Billionaire Ronald Lauder, a powerful financial backer of the University of Pennsylvania, is threatening to cut off donations if the school doesn’t do more to fight antisemitism, CNN has learned. The threat from Lauder, one of the heirs to the Estee Lauder cosmetics company, marks the latest

By Elisabeth Buchwald, CNN New York (CNN) — When war broke out in Ukraine last year, Federal Reserve officials were quick to speak about it. “Let me comment on what I think is on everyone’s minds today: Russia’s attack on Ukraine,” Fed Governor Chris Waller said on February 24, 2022, hours after Russia invaded Ukraine.

By Parija Kavilanz, CNN New York (CNN) — Tupperware Brands named consumer products veteran and former long-time CEO of Spanx Laurie Ann Goldman as its new CEO on Wednesday amid ongoing attempts to continue to survive as a business. Goldman takes over the role from Miguel Fernandez, effective immediately, the company said. Tupperware shares jumped

By Anna Cooban London (CNN) — Citibank has won an employment tribunal case brought by an analyst it sacked for claiming expenses for meals he shared with his partner, and then lying about it. Szabolcs Fekete, a senior analyst, sued the bank for unfair dismissal after he submitted expenses for two sandwiches, two coffees, a

By Nicole Goodkind, CNN New York (CNN) — Lollapalooza will never be the same. Goldman Sachs chief executive (and noted party DJ) David Solomon will no longer perform at high-profile events, picking Wall Street over South Beach, a representative from the second-largest investment bank confirmed to CNN. “David decided to stop publicly DJing more than

By Bryan Mena, CNN Washington, DC (CNN) — Spending at US retailers continued to grow last month, a fresh sign that American shoppers aren’t tapping out just yet. Retail sales, which are adjusted for seasonality but not inflation, grew 0.7% in September from the prior month. That’s slightly below August’s revised 0.8% gain and marks

By Oliver Darcy, CNN (CNN) — NBC News is uniting with a pair of strange bedfellows for the third Republican Party primary debate. The Republican National Committee on Monday formally announced that it will partner with the Peacock network to host the Miami face-off, along with the Salem Radio Network and Rumble, two right-wing media

By Hanna Ziady, CNN London (CNN) — Aircraft engine maker Rolls-Royce will slash up to 2,500 jobs worldwide in a bid to streamline its operations and tackle years of underperformance. Britain’s flagship engineering firm, which makes engines for Boeing (BA) and Airbus planes, said Tuesday that the cuts were part of a broader strategic overhaul

By Nicole Goodkind, CNN New York (CNN) — Growing unrest in the Middle East has cast a shadow on global financial markets. Israeli stocks listed in New York and Tel Aviv have sunk to recent lows, underscoring the growing economic uncertainties in the war-torn region and leaving investors unsure of where markets go from here.

By Jennifer Korn, CNN New York (CNN) — Foreign nationals and dual citizens have scrambled to find ways to get out of Israel after Hamas’ gruesome attack on October 7 pushed the country into war. But leaving the country has proven to be an emotional and arduous task, with complications that include soaring ticket prices,

By Michelle Toh, CNN Hong Kong (CNN) — Chinese tech giant Baidu is officially taking on GPT-4. On Tuesday, the company unveiled ERNIE 4.0, the newest version of its artificial intelligence chatbot that it directly compared to the latest iteration of OpenAI’s ChatGPT. The new ERNIE Bot “is not inferior in any aspect to GPT-4,”

By Parija Kavilanz, CNN New York (CNN) — Spending on the holiday season is expected to rebound to – and even surpass – pre-pandemic levels this year for the first time. But, surprisingly, it’s not gifts that consumers will be splurging on the most in the runup to Christmas, according to a new report Tuesday