Money

By Michelle Toh and Wayne Chang, CNN Hong Kong/Taipei (CNN) — Huawei has set up a separate smart car unit, in another stride forward in the Chinese tech giant’s plans to make a splash in the automotive world. The company incorporated Shenzhen Yinwang Intelligent Technology Co Ltd on Tuesday in the southern Chinese city of

By Clare Duffy, CNN New York (CNN) — Former longtime Meta chief operating officer Sheryl Sandberg will not remain on the company’s board of directors after her term ends in May, she said in a Facebook post Wednesday. “With a heart filled with gratitude and a mind filled with memories, I let the Meta board

By Matt Egan, CNN New York (CNN) — Jamie Dimon has a warning for Democrats: Don’t dismiss Trump supporters as people who are exclusively attracted to his personality. Former President Donald Trump was right about some critical issues, the JPMorgan CEO says. “I wish the Democrats would think a little more carefully when they talk about MAGA,” Dimon

By Matt Egan, CNN (CNN) — A growing number of insurers are refusing to cover American, British and Israeli vessels against war risks in the key commercial shipping corridor through the Red Sea as attacks from Houthi rebels continue. The hesitation from insurers comes as US officials have warned American merchant ships to steer clear

By Nicole Goodkind, CNN New York (CNN) — JPMorgan Chase says it has seen a sizable increase in attempts by hackers each day to infiltrate its systems over the last year, highlighting the escalating cybersecurity challenges the bank and other Wall Street titans are facing. JPMorgan Chase, the largest US bank by assets, now invests

By Clare Duffy, CNN New York (CNN) — A federal appeals court has denied Apple’s motion to temporarily pause a ban on imports of advanced models of the Apple Watch and the ban will be reinstated on Thursday, according to a Wednesday court filing. Apple had requested a stay on the ban while it appealed a

By Samantha Murphy Kelly, CNN (CNN) — Samsung’s next-generation flagship Galaxy S24 devices aim to take messaging, photos and games to the next level with artificial intelligence. At its annual Samsung Galaxy Unpacked event on Wednesday, the company showed off its Galaxy S24 Ultra, Galaxy S24+ and Galaxy S24 smartphones, in what it says will

By Anna Cooban, CNN London (CNN) — Barely six weeks into his term, Argentina’s new libertarian, chainsaw-wielding president has laid out his vision on a global stage, assuring the world’s business leaders that his country is their “staunch, unconditional ally.” “I would like to leave a message for all businesspeople here… you are social benefactors,

By Jennifer Hansler, CNN (CNN) — Secretary of State Antony Blinken was forced to change planes to return to Washington from Davos after his plane suffered what the traveling press was told was a critical failure related to an oxygen leak. Blinken and the traveling party boarded the modified Boeing 737 jet in Zurich on

CNN By Anna Bahney, CNN Washington, DC (CNN) — Homebuilder confidence surged in January as mortgage rates continued to trend lower, according to the National Association of Home Builders/Wells Fargo Housing Market Index released Wednesday. Builder confidence in the market for newly built single-family homes surpassed market expectations, climbing seven points to 44 on the

By Anna Bahney, CNN Washington, DC (CNN) — Homebuilder confidence surged in January as mortgage rates continued to trend lower, according to the National Association of Home Builders/Wells Fargo Housing Market Index released Wednesday. Builder confidence in the market for newly built single-family homes surpassed market expectations, climbing seven points to 44 on the index.

By Gregory Wallace, Pete Muntean and Curt Devine, CNN Washington (CNN) — Investigators probing why part of a Boeing 737 Max 9 blew open mid-flight earlier this month have not yet determined if bolts were installed on that piece of the aircraft. National Transportation Safety Board Chairwoman Jennifer Homendy told reporters after a closed-door briefing

CNN By Laura He and Simone McCarthy, CNN Hong Kong (CNN) — China reported a record low birth rate in 2023 as its population shrank for the second year in a row. The trend marked the deepening of a demographic challenge set to have significant implications on the world’s second largest economy. The country recorded

By Bryan Mena, CNN Washington, DC (CNN) — Americans spent at a faster clip in December, closing out a year of surprising economic resilience largely driven by the US consumer. Spending at US retailers rose 0.6% in December from the prior month, the Commerce Department reported Wednesday. That was a much stronger pace than November’s 0.3%

By Hanna Ziady, CNN London (CNN) — UK inflation accelerated in December for the first time since February last year, official data showed Wednesday. Consumer prices rose 4% last month compared with a year ago, up from a rate of 3.9% in November, the Office for National Statistics said. Economists polled by Reuters had forecast

By Jeanne Sahadi, CNN New York (CNN) — The Consumer Financial Protection Bureau on Wednesday said it is proposing a rule that would curb excessive overdraft fees charged to customers of large banks and credit unions, potentially saving consumers as much as $3.5 billion a year. The rule would only apply to banks and credit

By Jessie Yeung, CNN Hong Kong (CNN) — Japanese brand Uniqlo is suing Shein over claims the Chinese fast-fashion retailer is selling copycats of its viral shoulder bag. Fast Retailing, the Japanese giant that owns both Uniqlo and Theory, said in a statement that the form of the “imitation products” that Shein is selling “closely resembles” Uniqlo’s

By Laura He and Simone McCarthy, CNN Hong Kong (CNN) — China reported a record low birth rate in 2023 as its population shrank for the second year in a row. The trend marked the deepening of a demographic challenge set to have significant implications on the world’s second largest economy. The country recorded 6.39

By Samantha Delouya, CNN (CNN) — Disney CEO Bob Iger raked in $31.6 million in compensation last year – a multi-million-dollar boost from his income the year before. Iger’s 2023 pay package included a base salary of $865,385, stock awards totaling $16.1 million, $10 million in stock option awards, $2.1 million in performance-based compensation and

By Parija Kavilanz, CNN New York (CNN) — The US Department of Labor is proposing a $212,646 fine against a Mississippi poultry processor after a 16-year-old sanitation worker was pulled into a chicken deboning machine and killed. The child became the second worker killed in just over two years at the plant. The same facility