economy and trade

China's worst heatwave in 60 years is forcing factories to close | CNN Business

China’s worst heatwave in 60 years is forcing factories to close | CNN Business

Hong Kong CNN Business  —  China’s Sichuan province has ordered all factories to shut down for six days to ease a power shortage in the region as a scorching heat wave sweeps across the country. Sichuan is a key manufacturing location for the semiconductor and solar panel industries and the power rationing will hit factories …

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EV credits are now harder to come by. These buyers snuck in deals under the wire. | CNN Business

EV credits are now harder to come by. These buyers snuck in deals under the wire. | CNN Business

Washington, DC CNN Business  —  President Biden signed into law the Inflation Reduction Act on Tuesday, and it will reshape the electric vehicle tax credit. Automakers and consumers have scrambled in the last week to brace for its impact. Some car buyers are relieved to have finalized purchases before today, when qualifying became generally more …

EV credits are now harder to come by. These buyers snuck in deals under the wire. | CNN Business Read More »

Activist investor wants Disney to buy back Hulu stake and spin off ESPN | CNN Business

Activist investor wants Disney to buy back Hulu stake and spin off ESPN | CNN Business

New York CNN Business  —  Disney wowed Wall Street last week with strong earnings thanks to solid Disney+ subscriber gains and healthy theme park attendance. But that’s not enough to completely win over one activist investor. Third Point has bought a new stake in Disney (DIS) after selling one off earlier this year, the money …

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FTC weighs sweeping new rules on 'commercial surveillance' and Big Data | CNN Business

FTC weighs sweeping new rules on ‘commercial surveillance’ and Big Data | CNN Business

Washington CNN Business  —  The Federal Trade Commission is considering whether to write sweeping new regulations that could restrict how businesses collect and use consumer data, hinting at a possible crackdown on commercial algorithms and a sprawling economy powered by the personal information of millions of Americans. On Thursday, the FTC announced it is accepting …

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Moderna CEO says Covid vaccines will evolve like 'an iPhone' | CNN Business

Moderna CEO says Covid vaccines will evolve like ‘an iPhone’ | CNN Business

CNN Business  —  Forget taking two to three Covid shots a year. Moderna hopes to roll out a single-dose annual booster to cover the coronavirus, the flu and another common respiratory virus within the next five years. As Covid-19 continues to mutate, Moderna will need to keep updating the vaccines that turned it into a …

Moderna CEO says Covid vaccines will evolve like ‘an iPhone’ | CNN Business Read More »

The market read the Federal Reserve all wrong | CNN Business

The market read the Federal Reserve all wrong | CNN Business

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. New York CNN Business  —  After the Federal Reserve’s July meeting, investors quickly reached a consensus: The central bank was turning slightly dovish. After embarking on an aggressive rate-hike spree this year in …

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Come on, America. Food isn't 'woke' | CNN

Come on, America. Food isn’t ‘woke’ | CNN

New York CNN Business  —  So, Cracker Barrel … It’s a restaurant you traditionally go to after church to eat an unholy amount of biscuits and gravy while your grandma stocks up country-themed tchotchkes and gingham-printed novelty dish towels embroidered with nonsense like “happiness is homemade.” At least that’s my memory of it. Point is, …

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The mysterious companies behind Costco's Kirkland Signature and Trader Joe's O's | CNN Business

The mysterious companies behind Costco’s Kirkland Signature and Trader Joe’s O’s | CNN Business

New York CNN Business  —  Kirkland Signature. Two-Buck Chuck. Simple Truth. Cat & Jack. Great Value. Amazon Basics. Store brands have never been more popular. They have become forces in their own right and make up around 21% of sales in the $1.7 trillion US grocery industry, according to IRI. As prices surge, store brands …

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Another crypto bridge attack: Nomad loses $190 million in 'chaotic' hack | CNN Business

Another crypto bridge attack: Nomad loses $190 million in ‘chaotic’ hack | CNN Business

New York CNN Business  —  Heists continue to plague the crypto world, with news of large sums stolen from digital currency firms seemingly every month. But while crypto exchanges were once the main point of attack, hackers now appear to have a new target: blockchain bridges. Bridges are the infrastructure that allow users to exchange …

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Why Old Spice, Colgate and Dawn are locked up at drug stores | CNN Business

Why Old Spice, Colgate and Dawn are locked up at drug stores | CNN Business

New York CNN Business  —  These days, it feels like many stores are fortresses. Most of the products on the drug store shelf are behind lock and key, even everyday items such as deodorant, toothpaste, candy, dish detergent, soap and aluminum foil. Manufacturers that supply lock cases and devices to chain stores have seen their …

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