By Chris Isidore, CNN (CNN) — China has agreed to allow the export of chips critical to auto production, averting widespread shutdowns that had been predicted by the industry. The chips are provided by Nexperia, a Chinese-owned chipmaker based in the Netherlands. It’s a critical supplier for the global auto industry, providing 40% of the
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By Allison Morrow, CNN (CNN) — Sam Bankman-Fried is trying to rewrite the story of one of the biggest white-collar crimes in American history. It’s a redemption effort that might have appeared far-fetched two years ago, when a jury found Bankman-Fried guilty of stealing billions of dollars from customers of his now-bankrupt crypto exchange, FTX.
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By Jordan Valinsky, CNN New York (CNN) — Huggies maker Kimberly-Clark announced Monday it will buy Tylenol’s parent company Kenvue in a nearly $50 billion deal, creating a massive consumer products conglomerate. The merger is the latest in a recent dealmaking explosion, signaling the Trump administration’s openness toward corporate acquisitions. But it also represents a
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By Matt Egan, CNN (CNN) — The fingerprints of artificial intelligence are all over mass layoffs and downsizing at Meta, Amazon, Salesforce, YouTube and other major companies, raising fears of an AI-fueled jobs wipeout for white-collar workers. AI may hurt demand for office workers, but there’s reason for hope, Goldman Sachs CEO David Solomon believes.
Continue ReadingBy Chris Isidore, CNN (CNN) — When President Donald Trump introduced his tariff policy earlier this year, it looked like a disaster for automakers. But even with US tariffs on imported cars and parts, it has shaped up to be a pretty good time for car companies. Most automakers, even US-based ones, import some cars
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By Elisabeth Buchwald, CNN (CNN) — In just a few days, the Supreme Court will start hearing arguments in what President Donald Trump is calling “one of the most important cases in the history of our country.” With the bulk of his tariffs — arguably the cornerstone of his entire economic agenda — in jeopardy,
Continue ReadingBy Tala Alrajjal, CNN (CNN) — Saudi Arabia is turning its oil wealth toward its massive AI ambitions. Its chief investment vehicle is Humain, a homegrown company that is building out a full stack of data centers, cloud capabilities, large language models and applications. It’s owned by the Kingdom’s nearly $1 trillion sovereign wealth fund.
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By Brian Stelter, CNN (CNN) — Members of the White House press corps are now restricted from the press secretary’s office, the latest in a series of Trump administration actions to limit media access. The new rule says journalists cannot access what’s known as the “Upper Press” office space, where White House press secretary Karoline
Continue ReadingBy Reuters (CNN) — Berkshire Hathaway signaled on Saturday that it remained cautious about markets, letting cash swell to a record $381.7 billion even as profit rose, in its last financial report before Warren Buffett bows out as chief executive. Between July and September, Buffett’s conglomerate also sold more stocks than it bought for its
Continue ReadingBy Richard Quest, CNN (CNN) — President Donald Trump has made it clear that his favorite method to gain leverage over opponent countries on the other side of a negotiating table is to raise tariffs. It doesn’t matter whether the offense is trade-related or not. If there had been any lingering doubt (and I doubt
Continue ReadingBy Ramishah Maruf, CNN New York (CNN) — More likely than not, someone in your community – whether friend, family or neighbor – uses SNAP benefits. As millions of people could lose access to food assistance programs during the government shutdown, many Americans are trying – in however small a way – to fill in
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By Lisa Eadicicco, CNN (CNN) — Silicon Valley’s mega AI spending spree isn’t slowing down anytime soon. But Wall Street’s patience to see a return might be wearing a little thin. That message rang clear when Meta, Microsoft, Amazon, Apple and Google parent Alphabet all said this week that they’re forking over more on capital
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By Jordan Valinsky, CNN New York (CNN) — For a logo with a trademark grin, Wendy’s has little to smile about nowadays. The burger chain’s stock has lost nearly 50% of its value this year. Wendy’s executive suite has contended with several departures, and it’s currently operating without a permanent CEO after its previous leader
Continue ReadingBy Alicia Wallace, CNN (CNN) — The federal government shutdown has lasted all month and is on pace to become the longest on record. While history has shown that the economy typically rebounds from a shutdown within a couple of months, each day it drags on brings a greater risk that the economy won’t just
Continue ReadingBy Gawon Bae, CNN Seoul, South Korea (CNN) — Three billionaires surprised diners when they walked into a popular fried chicken restaurant on Thursday – and picked up everyone’s bill. Jensen Huang, CEO of the world’s most valuable company, AI chip giant Nvidia, went to the Seoul chicken-and-beer joint with the leaders of two of
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By Liam Reilly, CNN (CNN) — The Mouse House has gone dark on YouTube TV. Disney’s channels have been removed from YouTube’s pay-TV platform after the two media giants failed to reach a new carriage agreement before Thursday’s midnight deadline passed. The blackout will leave subscribers unable to watch content from Disney networks, including ESPN,
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By Clare Duffy, CNN New York (CNN) — Amazon chief executive Andy Jassy’s explanation for why the company is cutting 14,000 employees? Not money. Not even AI, but “culture.” The layoff announcement this week was “not really financially driven, and it’s not even really AI driven, not right now. It’s culture,” Jassy said in response
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By Lisa Eadicicco, CNN (CNN) — Apple reported fourth-quarter earnings on Thursday that provided an early glimpse into how the iPhone 17 lineup may be catching on so far. Apple’s earnings for the quarter that ended in September met analysts’ expectations on revenue but slightly missed on iPhone sales. iPhone sales in the fourth quarter
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By Liam Reilly, CNN (CNN) — The hosts of “The View” have said they want more conservatives to appear on the show. Next week, they’re getting one of the most outspoken: Rep. Marjorie Taylor Greene. The MAGA congresswoman from Georgia, long known for her fiery rhetoric and penchant for political brawling, will appear on the
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By Ramishah Maruf, CNN (CNN) — The US trade deal with China seeks to resolve a major sticking point of their ongoing trade war: rare-earth minerals. Despite multiple rounds of talks with US trade negotiators over the past several months, China continued to slow-walk promises to the Trump administration that it would free up crucial
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