Foxconn offers to pay workers to leave its largest iPhone factory after violent protests – CNN | CarTailz

Hong Kong CNN business — Foxconn has offered to pay newly hired workers 10,000 yuan ($1,400) to quit and leave the world’s largest iPhone assembly plant to quell protests that have seen hundreds clashed with security forces at the compound in central China. The Apple supplier made the offer Wednesday after dramatic scenes of violent … Read more

Crypto is in crisis. It’s not just because of FTX – CNN | CarTailz

new York CNN business — The stunning demise of FTX, one of the largest cryptocurrency exchanges, sent shockwaves through the crypto universe last week. Sam Bankman-Fried, the 30-year-old crypto titan and CEO of FTX, watched as billions of his wealth vanished in a bankruptcy filing that shook the trillion-dollar industry to its core. The pain … Read more

The crypto crisis continues. Here’s the latest on the FTX meltdown – CNN | CarTailz

New Delhi CNN business — Aftershocks from last week’s massive earthquake in the trillion-dollar crypto industry continued to be felt on Monday. Digital currency prices fell again as the crisis gripping the market deepened over the weekend. Bitcoin, the world’s largest crypto, is down about 65% so far this year. It was trading around $16,500 … Read more

The crypto crisis continues. Here’s the latest on the FTX meltdown – CNN | CarTailz

New Delhi CNN business — Aftershocks from last week’s massive earthquake in the trillion-dollar crypto industry continued to be felt on Monday. Digital currency prices fell again as the crisis gripping the market deepened over the weekend. Bitcoin, the world’s largest crypto, is down about 65% so far this year. It was trading around $16,500 … Read more

Wall Street is putting hope ahead of reality…again – CNN | CarTailz

A version of this story first appeared in CNN Business’s Before the Bell newsletter. Not a subscriber? You can login exactly here. You can listen to an audio version of the newsletter by clicking the same link. new York CNN business — Shares rose on Thursday for their best day since 2020 after a key … Read more

China releases stronger-than-expected GDP data after Xi Jinping secures third term – CNN | CarTailz

Hong Kong CNN business — Hong Kong stocks had their worst day since the 2008 global financial crisis, just a day after Chinese leader Xi Jinping secured his iron grip on power at a major political gathering. Foreign investors, shocked by the outcome of the Communist Party’s leadership reshuffle, dumped Chinese stocks and the yuan … Read more

Ronald Reagan tried the British economic plan. It didn’t work – CNN | CarTailz

A version of this story first appeared in CNN Business’s Before the Bell newsletter. Not a subscriber? You can login exactly here. You can listen to an audio version of the newsletter by clicking the same link. new York CNN business — The British pound hit a record low against the dollar on Monday after … Read more

Britain’s ‘trussonomics’ bring down the pound and make investors shake their heads – CNN | CarTailz

new York CNN business — Reports of the new UK government’s plan to cut taxes and rack up debt are, er, far from glowing. Here’s the deal: The British pound fell to a record low against the US dollar on Monday as investors around the world sold British assets. For the first time in history, … Read more

Pound’s plunge will exacerbate inflation and push interest rates higher – CNN | CarTailz

London CNN business — The UK government’s decision to implement the biggest tax cuts in 50 years, while borrowing tens of billions of dollars to subsidize rising energy costs this winter, is a huge gamble that has rocked financial markets. Since Friday, when Finance Minister Kwasi Kwarteng formally announced the plans, the British pound is … Read more