hong kong CNN Business — Foxconn has offered to pay newly recruited workers 10,000 yuan ($1,400) to quit and leave the world’s largest iPhone assembly factory, in an attempt to quell protests that saw hundreds clash with security forces at the compound in central China. The Apple supplier made the offer Wednesday following dramatic scenes …
New York CNN Business — Over the past year, as some meat prices have fallen, chicken prices have remained stubbornly high. Strong demand, supply issues and even breeding problems with under-performing roosters kept the pressure on. The supply shortage even had some restaurants, like Wingstop, experimenting with less popular items like thighs. But now conditions …
London CNN Business — Global growth will slow further in the coming year but the world will likely avoid a recession thanks to Asia’s biggest economies. Global GDP is projected to grow by 3.1% this year, and by just 2.2% in 2023, according to the latest forecast from the Organization for Economic Cooperation and Development …
If the world avoids a recession, it’ll have India and China to thank Read More »
hong kong CNN Business — Singapore’s central bank has responded to criticism of its treatment of two of the world’s largest crypto exchanges, explaining why Binance was on an investor watch list while FTX, which has filed for bankruptcy, was not. In a statement Monday, the Monetary Authority of Singapore (MAS) said it wanted to …
Singapore’s monetary authority defends its treatment of Binance after FTX ‘debacle’ Read More »
New York CNN — The nation’s leading retailers warned Monday that Congress may need to step in to avert a devastating freight rail strike they fear could spoil food, interrupt the delivery of goods bought online and worsen inflation. The Retail Industry Leaders Association, a trade group whose members include Walmart, Target, Best Buy, Home …
hong kong CNN Business — China has locked down a major transportation hub in the south, as the country grapples with its largest nationwide Covid outbreak since April. The lockdown also follows rising cases in Beijing, which reported the country’s first Covid deaths in nearly six months. In recent days, China had begun to ease …
New York CNN Business — Investors appear to have traded in their fleece vests for crystal balls — everyone on Wall Street seems to have a recession prediction. But lately, shouts of recession have become a bit quieter, and a growing group of economists say that any downturn will likely be mild. So can the …
Premarket stocks: Recession fears receded this earnings season Read More »
New York CNN Business — For travelers getting ready to make their first holiday trips since before the pandemic: prepare for sticker shock. Airfares are way up. US gas prices are higher than they’ve ever been at this time of year. Rates for hotel rooms and rental cars have jumped 12% and 46% respectively from …
Get ready for the most expensive holiday travel season ever Read More »
Washington CNN — The cost of college is not skyrocketing — at least for now, when factoring in the average amount of grant aid students receive. Most schools offer grants, money that students don’t have to pay back, making the actual amount they pay for college, known as the “net cost,” lower than the published …
How student loan borrowing, college costs and grant aid have changed over time Read More »
CNN Business — President Joe Biden will sit down Friday with business executives and labor leaders to highlight recent progress in combating inflation and steadying the economy, a White House official told CNN. Biden will sit down in person and virtually with the top executives at Ford, Kaiser Permanente and Carrier as well as the …
Biden to sit down with business, labor leaders to highlight inflation progress Read More »
