Money

By Jeanne Sahadi, CNN New York (CNN) — Thanks to legal tax avoidance strategies, illegal tax evasion schemes and creative accounting that rarely gets challenged by resource-starved authorities, countries around the world collectively stand to lose an estimated $4.7 trillion in revenue over the next decade unless substantial reforms are made to global tax rules.

By Juliana Liu, CNN Hong Kong (CNN) — TSMC, the world’s largest chipmaker, says it plans to invest nearly 90 billion New Taiwan dollars ($2.9 billion) to build an advanced chip plant in Taiwan, as it expands production to meet booming demand for artificial intelligence (AI) products. Last week, CEO C.C. Wei told analysts the

By Juliana Liu, CNN Hong Kong (CNN) — China’s top leadership has vowed to do more to support a “tortuous” economic recovery, which has lost steam after an initial burst of activity early in the year. The assurances, made by the Communist Party’s 24-member Politburo — a top decision making body — boosted stocks in

By Jessie Yeung and Berry Wang, CNN Hong Kong (CNN) — In recent years, China’s box office has been dominated by homegrown movies often with a nationalist lean, such as patriotic war epics. But this weekend, a different type of film captured national attention – one that’s decidedly American and bubblegum pink. “Barbie” has earned

By Chris Isidore, CNN New York (CNN) — Pilots for FedEx have rejected a tentative labor deal. But that doesn’t mean they’re about to walk off the job just as UPS is threatened with its own strike by 340,000 drivers and other hourly ground workers. The FedEx pilots who belong to the Air Line Pilots

By Samantha Delouya, CNN (CNN) — UBS is being fined for missteps by Credit Suisse less than two months after UBS completed an emergency takeover of its former rival. On Monday, the Federal Reserve said it would fine UBS for “misconduct” by Credit Suisse in its risk management of Archegos Capital Management, an investment fund

By Ellie Stevens, CNN (CNN) — Strong sales of leftover Yeezy inventory is helping Adidas recoup some of its losses. Recent sales of the shoes left over from the abandoned collaboration with Ye, the rapper formerly known as Kanye West, should reduce Adidas’ expected operating loss to $498.3 million, the company said in a statement

By Chris Isidore, CNN New York (CNN) — Stellantis and Samsung SDI announced plans Monday for another EV battery plant joint venture to open in 2027. But the announcement could make it more difficult to avoid a strike at Stellantis’ existing US plants this fall. The United Auto Workers union, is in the process of

By Danielle Wiener-Bronner, CNN New York (CNN) — Domino’s is still suffering declines in its delivery business. One solution? More cars. Delivery is a key part of Domino’s business, and the chain has tried to stay away from third party aggregators like DoorDash, which give restaurants access to its online platforms and drivers for a

By Samantha Delouya, CNN Los Angeles (CNN) — Lazarus Limo usually starts his day at 10 a.m. ET, driving passengers and delivering food for Uber around Chapel Hill, North Carolina. “I tend to set a minimum target of how much I should get by the end of the day. As soon as I get my

By Anna Cooban and Tim Lister, CNN London (CNN) — Wheat prices rose sharply Monday following a strike by a Russian drone on a Ukrainian port on the Danube river. Moscow’s drones attacked Ukraine’s port infrastructure overnight, targeting the country’s grain stocks, the Ukrainian Army said. One grain silo at the Reni port was hit

By Bryan Mena, CNN Washington, DC (CNN) — American businesses are expected to fare better in the coming months, according to a survey of economists and analysts released Monday. Inflation’s steady slowdown this year has boosted Americans’ confidence in the economy. It has also improved the odds of the Federal Reserve pulling off a so-called

By Hanna Ziady, CNN London (CNN) — The travel industry has defied a global economic slowdown, enjoying record bookings and profits as pent-up demand following the pandemic fueled spending on air tickets and hotels. But that may be starting to change. Ryanair (RYAAY), Europe’s largest airline by passenger numbers, warned Monday that high inflation and

By Anna Cooban, CNN London (CNN) — Summer blockbusters “Barbie” and “Oppenheimer” have given the troubled film industry a big shot in the arm, kindling hopes that consumers may have fallen back in love with the big screen three years after the pandemic forced movie theaters to close. The films raked in a combined $511

By Jordan Valinsky, CNN New York (CNN) — Spotify is the latest streaming service to hike its prices. Beginning Monday, new subscribers will pay $1 more per month for its ad-free premium plan, rising to $10.99 per month. Current customers are being given a “one-month grace period before the new price becomes effective,” Spotify said.

By Jordan Valinsky New York (CNN) — In a radical rebranding, Twitter owner Elon Musk has replaced Twitter’s iconic bird logo with X. Musk made the shock announcement of his plans early Sunday. By Monday morning US time, he tweeted that X.com now points to Twitter.com. “Interim X logo goes live later today,” he wrote,

By Eric Cheung, CNN Taipei (CNN) — The signing of a trade pact between Taiwan and the United States will play a key role in helping the island counter its diplomatic isolation from China, according to Taiwan’s top trade negotiator. Taipei has described the initiative as the most comprehensive trade agreement between the United States

By Rhea Mogul, CNN New Delhi (CNN) — Christopher Nolan’s latest blockbuster movie “Oppenheimer” has sparked controversy among the Hindu-right in India, with some calling for a boycott and demanding the removal of a sex scene in which the titular character utters a famous line from the religion’s holy scripture. The film tells the story