Money

By Laura He and Chris Isidore, CNN Hong Kong/New York (CNN) — BYD overtook Tesla to become the world’s biggest electric car company in the final quarter of 2023. The Chinese company sold a record number of cars last year, including 525,409 battery electric vehicles (BEVs) in the three-month period to December 31, according to

By Diksha Madhok, CNN (CNN) — ASML has been ordered by the Dutch government to restrict shipment of some of its chip-making equipment to China, the company said on Monday. The curb comes after the United States ramped up its own restrictions on the types of semiconductors that American companies will be able to sell

CNN By Anna Cooban, CNN London (CNN) — Europe hasn’t quite shaken off the big, painful problem haunting its economies over the past two years. Annual inflation in Germany and France, the European Union’s leading economies, rose in December. The first estimate of eurozone consumer price inflation for last month published Friday confirmed the trend

By Anna Cooban, CNN London (CNN) — Baidu’s bid to expand its live streaming business in China and diversify its revenue has suffered a blow with the collapse of a planned $3.6 billion acquisition. The Chinese tech giant announced Monday that one of its affiliate companies had terminated a 2020 agreement with Nasdaq-listed Joyy (YY),

By Nouran Salahieh, CNN (CNN) — A single Powerball ticket sold in Michigan has matched all six numbers to win an estimated $842.2 million in a New Year’s Day lottery drawing. It’s the fifth-largest Powerball jackpot ever won and the first time a jackpot has been won on New Year’s Day since the game’s start

By Matt Egan, CNN New York (CNN) — Many feared 2023 would be the year of recession. It turned out to be the year of remarkable resilience. The US economy appears to be enjoying the soft landing many argued was nearly impossible. Inflation has cooled dramatically, unemployment remains low and the Federal Reserve could deliver rate cuts as soon as March.

By Diksha Madhok and Jessie Yeung, CNN New Delhi/Hong Kong (CNN) — Maersk has imposed a 48-hour delay on its vessels moving through the Red Sea, following an attack on one of its merchant ships by Iranian-backed Houthi fighters based in Yemen. The US military said its helicopters responded to distress calls from the vessel

By Samantha Delouya, CNN (CNN) — Mickey Mouse no longer belongs solely to the Walt Disney Company. On January 1, 2024, an early version of the entertainment company’s mascot, featured in Walt Disney’s 1928 short film, “Steamboat Willie,” entered the public domain for the first time. The good-humored rodent, which has been synonymous with the

By Laura He and Simone McCarthy, CNN Hong Kong (CNN) — China’s businesses are struggling and job seekers have trouble finding work, President Xi Jinping acknowledged during his Sunday New Year’s Eve speech. This is the first time Xi has mentioned economic challenges in his annual New Year’s messages since he started giving them in

By Nadia Kounang, CNN (CNN) — On Sunday, the US Food and Drug Administration warned consumers of possible bacterial contamination of Reckitt/Mead Johnson’s Nutramigen Hypoallergenic Powdered Infant Formula Products. The specialty formula is a hypoallergenic infant formula used by infants allergic to cow’s milk. The manufacturers voluntarily recalled 675,030 cans of the formula on December

By Nathaniel Meyersohn, CNN New York (CNN) — Shoppers and retailers had a lot to contend with in 2023. From the financial fallout over Adidas’ breakup with Ye, formerly known as Kanye West, over his antisemitic comments, to high-profile bankruptcies, it was a tumultuous year for retail businesses. Here is a look back at a

By Anna Bahney, CNN Washington, DC (CNN) — Housing economists offering forecasts were wrong about 2023. Few thought home sales would fall off a cliff the way they did this year, dropping by about 17% from their high in February to their low in October, according to the National Association of Realtors. Most thought home

By Nouran Salahieh, CNN (CNN) — The Powerball jackpot swelled to an estimated $810 million after the final drawing of 2023 yielded no grand prize winners Saturday night. The big prize will be up for grabs Monday night, and if won, the lucky player will have the option to ring in the new year with

By Eva Rothenberg, CNN New York (CNN) — When the AMC 24 Hamilton closed in November 2020, many local New Jersey residents may have collectively sighed or shrugged it off as another foregone casualty of the pandemic economy. But for the neighboring businesses, the theater’s absence was a tough pill to swallow. “We were down

By Kelly Murray, CNN (CNN) — More than three-quarters of a billion dollars – an estimated $760 million – is up for grabs Saturday, after Wednesday’s Powerball drawing yielded no winners. The numbers drawn Saturday were 10, 11, 26, 27, 34 and Powerball 7. It’s been over two months and no one has won the

By Elisabeth Buchwald, CNN New York (CNN) — The writing was on the wall for a recession in 2023. At this time last year, sky-high inflation was barely budging, leaving the Federal Reserve with no choice but to continue hiking interest rates. The S&P 500 was well into a bear market. Layoffs, especially in tech,

By Alicia Wallace, CNN Minneapolis (CNN) — January 1 is usually one of the busiest days of the year at the Hi-Lo Diner here. Patrons — some still in a state of revelry from the night before — pack the booths and order up from the menu of American classics, including the brunch staple: the