Alibaba, Tencent shares plummet 11% alongside China tech stocks as Xi tightens grip on power
Investors fear Chinese President Xi Jinping’s tightened grip on power will lead to continued strict policies on the tech sector.
Binance is ‘narrowing down’ identity of hacker behind $570 million crypto attack, CEO says
After getting some tips from law enforcement, Binance is now “narrowing down” the hacker behind the attack, CEO Changpeng Zhao told CNBC Monday.
JPMorgan president says a recession may be price to pay to beat inflation, market bottom not in yet
JPMorgan Chase President Daniel Pinto shared his views on inflation, the U.S. economy and markets in an exclusive CNBC interview.
Fears of a severe recession deepen as European business activity slows on surging energy costs
European firms have been under pressure due to higher inflation, particularly coming from energy costs and wage pressures.
Tesla shares closed down 1% after Elon Musk’s EV firm cuts price of cars in China
Tesla cut the price of its Model 3 and Model Y in China, partly reversing price hikes earlier in the year.
Rishi Sunak closes in on Downing Street after Boris Johnson pulls out of leadership race
Rishi Sunak looks set to become the next U.K. prime minister with results to be announced Monday afternoon.
Almost half of the ultra-rich haven’t figured out how to pass on their wealth, research finds
41% of investors with more than $1 million worth of assets have not planned how they will pass on their wealth, a report by UBS found.
The UK’s Conservative Party is gearing up for a new leader. Here’s what to expect
The U.K. is gearing up to install a new prime minister this week — its fifth in six years — following the resignation of Liz Truss just 44 days into the job.
Economies in Asia have the tools to manage economic headwinds, U.S. deputy Treasury secretary says
During the two-day APEC finance ministers’ meeting, countries pledged not to adjust exchange rates for competitive purposes.
China GDP beats with a bounce in the third quarter, delayed data shows
The data reflected the impact of Covid controls and the real estate slump, while the automobile industry remained a bright spot.
