Xpeng suspends supply chain boss for corruption probe
Xpeng on Tuesday said it suspended Li Feng, its vice president in charge of supply chains, for a corruption probe.
Samsung expected to report 80% profit plunge as losses mount at chip business
The semiconductor business — typically Samsung’s cash cow — is likely to see continued pressure as memory prices and demand for end products remain low.
European Central Bank member says more rate hikes still possible if new shocks emerge
“If additional shocks come, and if the information we have proves to be incorrect, we may have to hike another time or perhaps two times,” Robert Holzmann said.
IMF hikes U.S. growth forecast for 2023, leaves global outlook unchanged
The U.S. has seen stronger business investment in the second quarter and resilient consumption growth amid a tight labor market, the IMF said.
‘Overhyped’ generative AI will get a ‘cold shower’ in 2024, analysts predict
Analyst firm CCS Insight predicts generative AI will get a “cold shower” in 2024 as concerns over growing costs replace the “hype” surrounding the technology.
Japan and South Korea defense stocks jump after Hamas attack, aviation stocks slide
Japan and South Korea returned to trade today after a public holiday on Monday.
CNBC Daily Open: Israel-Hamas war will have a limited effect on markets
Major indexes rose despite the geopolitical upheaval in the Middle East. Analysts think markets have already digested the implications of the conflict.
London’s financial heart is sizing up a win for center-left Labour party at next year’s UK election
The U.K.’s main opposition Labour Party is seeking to woo London’s powerful financial center as it sets its sights on winning power at next year’s general election.
How often should you wash your jeans? The Levi’s CEO settles the debate
Levi Strauss CEO Charles Bergh explains whether you should really never wash your jeans, and how to keep them clean.
Samsung, SK Hynix get indefinite waivers to ship U.S. chip equipment to their China factories
Samsung and SK Hynix will be allowed to ship U.S. semiconductor manufacturing equipment to their China factories indefinitely without separate U.S. approvals.
