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7 Deaths Linked to Small Magnets Found in Toys, U.S. Warns

A federal agency said the deaths and more than 2,000 emergency-room visits have been tied to pea-size magnets that are easily ingested.

SmileDirectClub Shuts Down, Months After Filing for Bankruptcy

The telehealth company, which sold teeth alignment devices to two million customers, was unprofitable and had been criticized by medical groups.

Tiny Electric Vehicles Pack a Bigger Climate Punch Than Cars

Two- and three-wheeled vehicles, used by billions of people, are moving away from fossil fuels to batteries faster than cars in countries that have made the energy transition a priority.

A String of Lawsuits Takes Aim at Regulators

The attacks, once unthinkable, could upend how a suite of agencies including the F.T.C. and the S.E.C. enforce rules.

Here are the 3 top risks facing McDonald's heading into 2024

McDonald's held an investor day Wednesday that focused on the company's long-term future, but the near term could bring more turbulence.

Inside OpenAI’s Crisis Over the Future of Artificial Intelligence

Split over the leadership of Sam Altman, board members and executives turned on one another. Their brawl exposed the cracks at the heart of the A.I. movement.

At Dubai’s Climate Summit, Activists Test the Limits

The annual U.N. talks have brought the rare spectacle of limited protests to the politically repressive United Arab Emirates.

Check Fraud Is Rising and the Thieves Are Winning

Although check usage has declined in the last couple of decades, check fraud has risen sharply, creating a problem for banks — and customers trying to pay their bills.

When Freelancers Are Treated Like Full-Time, All the Time, Employees

Why do employers think freelance equals full time, all the time?

Mideast War Pushes Companies to Extend Diversity Programs to Faith Groups

Workers are asking employers to respond to rising Islamophobia and antisemitism. But office discussions about religion are complicated.

How Stolen Checks Are Sold and Bought Online

One reason this fraud is rampant: Open forums where anyone can buy checks that thieves have taken from the mail.

The Holiday Boom in New York Is Back. Sort Of.

After three years of less foot traffic and less spending, things are looking up this year, even if it’s not 2019 again.

Shoppers, Facing Holiday Spending, Turn to Loyalty Programs

The programs and the incentives that come with them will be critical for retailers hoping to attract cash-strapped customers over the next month.

China’s consumer prices mark steepest fall in 3 years as post-Covid rebound falters

Downward pressures on energy and food prices cited by Beijing as consumer price index falls 0.5 per cent year on year in November.

DHL Workers at Kentucky Air Cargo Hub Go on Strike

Workers who load and unload cargo planes at DHL’s hub near Cincinnati walked out after months of negotiations failed to produce a contract.

Europe and Asia React to U.S. Push for Tech and Clean Energy

Other governments, particularly in Europe, are trying to counter the Biden administration’s industrial policies with their own incentives.

CosMc's: Customers flock to McDonald's new retro drinks brand

CosMc's, named after an obscure company mascot, is a bid for the speciality drinks market.

E.U. Agrees on AI Act, Landmark Regulation for Artificial Intelligence

The agreement over the A.I. Act solidifies one of the world’s first comprehensive attempts to limit the use of artificial intelligence.

New Sickle Cell Therapies Will Be Out of Reach Where They Are Needed Most

There is no clear path for African patients to get access to the treatments, which have multimillion-dollar price tags and are highly complex to manufacture and deliver.

One Law Firm Prepared Both Penn and Harvard for Hearing on Antisemitism

The presidents of Harvard, the University of Pennsylvania and M.I.T. came under fire after dodging questions about their policies.

Why automakers are turning to hybrids in the middle of the industry's EV transition

Automakers are reconsidering the viability of hybrid vehicles to appease consumer demand and avoid costly penalties related to federal fuel economy standards.

Starbucks Tells Union It Wants to Resume Contract Talks

After the coffeehouse chain proposed terms for contract negotiations, Workers United, which represents 9,000 employees, said it was open to productive steps.

Paramount shares jump after reports of takeover interest

Paramount shares surged Friday following reports that RedBird and Skydance were exploring a potential takeover.

Zombie TV Has Come for Cable

Many of the most popular channels have largely ditched original dramas and comedies, morphing into vessels for endless reruns.

‘What the Heck?’ CNN’s Debate Plans Leave New Hampshire Officials Confused.

The news network said it would host a Republican primary debate in New Hampshire at Saint Anselm College. That was news to Saint Anselm.

U.S. approves first gene-editing treatment, Casgevy, for sickle cell disease

Casgevy uses the Nobel Prize-winning technology CRISPR to treat sickle cell disease, a blood disorder that affects about 100,000 Americans.

Lawmakers Press Biden Administration for Tougher Curbs on China Tech

Republican legislators argue that the Biden administration has been ill-equipped and unmotivated in a technology fight with Beijing.

U.S. Job Growth Holds Up as Economy Gradually Cools

Interest rate increases have taken the edge off labor demand, but unemployment dipped in November, and wages rose more than expected.

Retail Group Retracts Startling Claim About ‘Organized’ Shoplifting

The National Retail Federation had said that nearly half of the industry’s $94.5 billion in missing merchandise in 2021 was the result of organized theft. It was likely closer to 5 percent, experts say.

Yellow Rejects a Bid to Restart Trucking Company

In a letter, Yellow’s management said an effort to buy the company and revive its operations by an executive from a different trucking firm was “not viable.”

Starbucks tells union it wants to resume contract talks in January

The potential restart of talks could open a window to resolve a stalemate in one of the most high-profile labor disputes in the U.S. in recent years.

In the Creator Economy There is Money to Be Made

People from all types of backgrounds have become stars — and it’s a trend that’s expected to get even bigger and make them even richer in years to come.

Tesla’s Battle With Sweden’s Unions Now Includes Pension Fund

The action began with a walkout by mechanics in October, but has spread to include blockades by other unions. Tesla has pushed back through the courts.

Microsoft's links with OpenAI to be examined by competition watchdog

The Competition and Markets Authority will consider if links between the two could be considered a merger.

Retail lobby group's retraction of key crime claim shows how hard it is to track theft

The National Retail Federation walked back a claim that organized retail crime accounted for nearly half of all shrink losses because the data point was flawed.

Conundrum of Covering Trump Lands at Univision’s Doorstep

When the U.S.’s largest Spanish-language network ran a friendly interview with the former president, Democrats cried foul. Executives say they’re seeking more balance.

Amazon Is Cracking Down on Union Organizing, Workers Say

The company has disciplined union supporters and fired one in recent weeks, ahead of a trial that will weigh their right to interact with co-workers.

Nationwide: 500 Swindon head office workers at risk of redundancy

The announcement affects the building society's head office in Swindon, a spokesman said.

How Has the Economy Affected You? We Want to Know.

The Times’s economics team is looking for reader input on what you’re going through financially and what you see in your community.

Chinese garlic is a national security risk, says US senator

Rick Scott says Chinese garlic grown in sewage is unsafe and poses a threat to national security.

Disney: Elon Musk calls for boss to be fired over ad spat

It comes a week after the multi-billionaire launched a profane attack on advertisers that left X.

World Bank President Ajay Banga Addresses Climate Change

Ajay Banga, who took over the top job in June, has prioritized global warming issues in his first months on the job.

China’s leadership prioritises economic stability and investor confidence for coming year

President Xi Jinping uses Politburo meeting to call for efforts to attract foreign capital and boost trade, while countering negative views of the economy.

Lululemon shares fall as retailer gives tepid holiday outlook despite strong start to shopping season

Lululemon struck a positive tone about the holiday shopping season on Thursday, but its fourth-quarter guidance came in light of expectations.

US jobless rate falls to lowest level since July

Employers added a better-than-expected 199,000 jobs in November, despite efforts to cool the economy.

Tips for Avoiding Surprise Bills From Electronic Toll Roads

Cashless tolls have reduced traffic jams, but they can also lead to hefty bills for out-of-state drivers. One piece of advice: Promptly pay the bill you get in the mail.

Higher Rates Can Help Retirees but Stocks Outpace Inflation

Investors who want to lock in safe income may be hurt over the long haul if they don’t also hold stocks, our columnist says.

Google admits AI viral video was edited to look better

Instead of the AI responding to voice and video, it was fed text prompts and still images.

Corporate Bosses Turn Up the Heat on University Presidents

The heads of Harvard, M.I.T. and the University of Pennsylvania are under pressure after testifying to Congress about antisemitism on campus.

China ‘more investible than ever’ for Middle East and Latin America, but Western capital remains wary

Louis-Vincent Gave, founding partner and CEO at research firm Gavekal, says China is deemed uninvestible for some Western investors despite Beijing’s efforts to attract increased overseas capital.

China, Singapore to let each other’s tourists pay with digital yuan as Beijing seeks to globalise its e-CNY currency

The use of digital yuan for small transactions can pave the way for its application in trade and other high-value scenarios, one expert says.

Average two-year mortgage rate falls below 6%

Mortgage providers have been cutting rates, but many homeowners still face a payment shock.

Taiwan returns to monthly export growth as erratic year comes to a close

Export numbers for Taiwan re-entered the plus column after months of contraction and a shorter period of back-and-forth changes, fuelling hopes for protracted growth in 2024.

Cozy Retreats for a Winter Getaway

Not everyone wants to rocket down a mountain on skis. But hot chocolate by a warm fire in a snug inn is another story. Here are six hotels in snowy settings.

Why China’s yuan may stay weak in 2024, regardless of any US Fed interest rate cuts

A prominent Chinese economist has flagged two key risks that could keep pressure on the yuan: weaker-than-expected fiscal expansion and a further contraction in the property market.

Edinburgh Reforms: City shake-up branded 'damp squib' by MPs

The Treasury Committee says much of what was promised by the chancellor has not materialised.

Mobile phones: Firms face £3bn legal claim for overcharging

Lawsuit alleges Vodafone, EE, Three and O2 overcharged existing customers for their mobiles.

UK Accuses Russia of Yearslong Cyberattacks

The government said a group linked to Russia’s intelligence service carried out sustained operations to undermine trust in Britain’s political system.

ScotRail consults customers on ending alcohol ban

The online survey comes three years after restrictions were introduced to stop the spread of Covid-19.

Binance Founder Ordered to Remain in U.S. Before Sentencing

Changpeng Zhao, better known as CZ, faces as much as 18 months in prison after he pleaded guilty to federal money-laundering violations.

China’s Electric Car Factories Are Facing a Worker Shortage

China misjudged the rapid expansion of its electric vehicle sector, leaving a shortfall of skilled technicians as young people shun manufacturing careers.

Chinese consumers keep spending in check amid shaky economy, hunting bargains on drinks, personal-care goods: report

Spending on consumer goods fell 0.9 per cent year on year during the third quarter as consumers remain ‘discerning’ about their choices, says a study by Bain & Company and Kantar Worldpanel.

PGA Tour star Jon Rahm signs on to join Saudi-backed LIV Golf

Jon Rahm, the defending Masters champion, signed on Thursday to leave the PGA Tour for Saudi-backed LIV Golf.

Train strikes: When are the walkouts in December?

It is the last in a wave of rolling strikes affecting different train companies on different days.

Oxfam shop and office workers strike for first time

The walkout is over pay with some staff at the anti-poverty charity reporting having to use foodbanks, a union says.

China dispatches massive vessel to catalogue fisheries, scale up industry presence

China’s largest fishery research vessel has embarked on a survey mission, a high-profile move intended to assess marine resources and establish the country’s role as a major player in the booming industry.

China trade: 5 takeaways from November’s data as exports edge up for first time in 7 months

China’s exports beat expectations in November, rising by 0.5 per cent from a year earlier, but imports disappointed and fell by 0.6 per cent, data released on Thursday showed.

Bellevue Hospital Rushes Patients Into Weight-Loss Surgery

New York’s Bellevue Hospital performs thousands of the lucrative surgeries a year, even on Rikers Island prisoners and other inappropriate patients.

China awaits whether US interest rate cut, better ties bring economic tailwinds in 2024

Economists generally expect that the US’ most aggressive rate-rising cycle in 40 years will end soon, and that any subsequent rate-cut cycle would lead to lower financing costs for businesses – a positive for trade flows.

U.S. and Mexico Try to Promote Trade While Curbing Flow of Fentanyl

In her Mexico City visit, Treasury Secretary Janet L. Yellen sought to deepen economic ties while countering drug trafficking.

Nuns Who Own Shares of Smith & Wesson Sue Over AR-15 Deaths

A coalition of Catholic nuns claim that the gun maker is putting itself at risk by selling the AR-15-style rifles. The company’s C.E.O. called it a “frivolous lawsuit.”

Ferrari's $400,000 Purosangue is a dream to drive. Just don't call it an SUV

The Purosangue, its name meaning "pure blood" or "thoroughbred" in Italian, comes with a 7.5 liter, V-12 engine.

Biden administration asserts power to seize drug patents in move to slash high prices

The Biden administration unveiled a new framework outlining the factors federal agencies should consider in determining whether to use march-in rights.

McDonald's to open first CosMc's spinoff restaurant this week

The burger chain is positioning CosMc's as a fast, convenient way to grab a pick-me-up snack or coffee.

Facing fines, cluttered aisles and late-night mockery, Dollar General's returning CEO tries to drive a turnaround

The retailer said it will put more workers in the front of the stores, slow down store openings and step up efforts to keep merchandise in stock.

Washington Post Journalists Go on One-Day Strike

The 24-hour strike is the first walkout at The Post since the 1970s, union leaders said.

2023 was the least affordable homebuying year in at least 11 years, Redfin says

California metro regions ranked as the least-affordable areas, while Midwest metros were the most affordable, Redfin said in a new report.

The Clock is Ticking on Improving China-U.S. Relations, Experts Say

Participants in a task force at the DealBook Summit said President Xi seemed ready to expand economic relations. But for how long?

McDonald’s unveils US CosMc's trial and global expansion

The fast-food giant pilots CosMc's and plans to open about 10,000 McDonald's globally by 2027.

Anger as Nationwide orders workers back to office

Nationwide - which has its HQ in Swindon - tells staff to work in offices at least two days a week.

Krispy Kreme Opens in France, the Latest in a U.S. Fast Food Invasion

The arrival of Krispy Kreme in France is just the latest advance in a decades-long invasion by U.S. fast food in the land of Michelin chefs and long leisurely meals.

Why Lobbyists Are Still Fighting Congress on Money Laundering

A law to require disclosure of corporate ownership takes effect Jan. 1. Small businesses and banks say it would be too burdensome and are turning to lobbying and the courts to delay or block it.

AbbVie to acquire neuroscience drugmaker Cerevel Therapeutics for $8.7 billion

The deal is AbbVie's latest attempt to expand its drug pipeline as its top-selling treatments, such as Humira, face generic competition.

U.S. Marshal Arrested After Unruly Behavior on Flight to London

The police in London said the 39-year-old “was disruptive and had sexually assaulted other passengers and crew.”

Lego Fortnite: Gaming giant launches Minecraft rival

The new co-operative survival game mode sees players crafting items with Lego bricks.

Why China’s foresight on EV minerals gives it a big edge over US, as ‘every country needs copper’

Strong ties between China and world’s major mineral exporters, especially those with vast copper and nickel resources, leave West playing catch-up in securing supplies.

From Unicorns to Zombies: Tech Start-Ups Run Out of Time and Money

After staving off collapse by cutting costs, many young tech companies are out of options, fueling a cash bonfire.

South East Water pays £2.3m dividend amid watchdog probe

Ofwat is investigating South East Water over service to customers and record in maintaining supply.

U.S. poised to approve first gene-editing treatment in breakthrough for sickle cell patients

The U.S. Food and Drug Administration is expected to approve exa-cel for sickle cell disease in what would become the first marketed medicine to use CRISPR.

Jacob Rees-Mogg's investment management firm to close

The fund manager co-founded by the MP is winding down after reports it had lost its largest client.

China deems coal reserves insufficient after past power crises hit industries, livelihoods

A new national backup system for coal production will seek to stabilise prices and ensure sufficient supplies as energy security is increasingly prioritised across the country.

China’s cabinet urges Shanghai’s Hong Kong-style Lingang free-trade zone to deepen reforms

The State Council, China’s cabinet, has urged Shanghai to further simplify customs procedures and liberalise financial markets to spur cross-border cargo and capital flows in the Lingang free-trade zone.

'Wonka,' 'The Color Purple' and 'Aquaman': Warner Bros. releases dominate December

The last weeks of the 2023 box office will be dominated by Warner Bros. as it brings "Wonka," "Aquaman and the Lost Kingdom" and "The Color Purple" to theaters.

What the Jobs Report Might Mean for Interest Rates

Wall Street will closely watch Friday’s nonfarm payrolls report, which could influence the Federal Reserve’s next move on borrowing costs.

Wall Street CEOs try to convince senators that new capital rules will hurt Americans as well as banks

The heads of America's largest banks, including JPMorgan Chase, Bank of America and Goldman Sachs are seeking to dull the impact of the new rules.

Shopping with cash rises for first time in a decade

People are using notes and coins as a way of budgeting while prices rise, says the British Retail Consortium.

House prices rise again as mortgage rates ease

Prices rose 0.5% last month, Halifax says, and there are signs activity in the market is picking up.

China’s ‘sluggish’ trade to continue into 2024 even after exports edge up in November, unlikely to provide economic pillar

China’s exports beat expectations in November as shipments to the US grew for the first time since July last year, but analysts doubt if exports can contribute as a pillar of economic growth next year.

White House Delays a Decision on Banning Menthol Cigarettes

The proposal has elicited mounting opposition from tobacco companies, Black activists worried about police enforcement and small businesses, as President Biden moves into an election year.

The people creating digital clones of themselves

Business leaders and experts are making online copies of themselves to answer the questions they get.

ChatGPT tool could be abused by scammers and hackers

A cutting-edge tool from Open AI appears to be poorly moderated, allowing it to be abused by cyber-criminals.

China’s college graduates to hit record high 11.79 million in 2024, adding to job market pressure

A record number of college students are set to graduate in China next year at a time of high unemployment within the 16-24 age group.

Tobacco giant sees sunset for US cigarette business

British American Tobacco said it could no longer value the business as if it had an infinite life.

With China’s first cruise ship delivered, unit of CSSC calls for Shanghai-based supply chain as it chases more orders

Deputy general manager of Shanghai Waigaoqiao Shipbuilding says domestic and global suppliers should choose Shanghai for R&D and production to create a complete supply chain.

China education: parents decry 50-50 shot at academic degree, and they’re rolling the dice on a costly plan B overseas for the kids

An education policy enacted six years ago means that only half of junior high students in China can go on to get academic degrees in the country, and many parents don’t like those odds.

McDonald's aims to open nearly 9,000 restaurants, add 100 million loyalty members by 2027

After 2024, McDonald's is targeting systemwide sales growth of 2.5% in constant currency.

At the DealBook Summit, Leaders Contend With an “Existential Moment”

Even leaders who usually display unrestrained confidence expressed anxiety about the state of the world.

Sanjay Shah, British Trader, Is Extradited to Denmark on Fraud Charges

Sanjay Shah had been pursued by Danish authorities, who said he was behind a scheme to steal $1.3 billion from the national coffers.

Silicon Valley Confronts a Grim New A.I. Metric

Where do you fall on the doom scale — is artificial intelligence a threat to humankind? And if so, how high is the risk?

Artificial Intelligence Experts Agree That It Needs Regulation. That’s the Easy Part.

Participants in a task force on artificial intelligence at the DealBook Summit grappled with how to balance oversight of the technology with innovation.

The 2024 Election Will Be Unlike Any Other. Is the Media Ready?

Journalists are facing “deep fakes,” sagging trust, global unrest and an unprecedented Trump campaign being run “from the courthouse steps.”

The Media, Democracy and the 2024 Election: What’s at Stake

Should something change about the way news is gathered, reported and shared? Participants in a task force at the DealBook Summit considered that, and more.

Disney+ adding Hulu integration as streaming bundles accelerate

Disney had previously offered a bundle of Disney+ and Hulu, but Wednesday's release is part of a push to integrate the two platforms.

In the Creator Economy, It’s the Wild Wild West for all Involved

A task force at the DealBook Summit discussed where the power lies in the exploding world of the creator economy — and who is likely to wield it in the future.

Addressing the Tensions Between China and the Rest of the World

U.S.-China trade is at a record high, but businesses and governments are wrestling with how to balance national security and commercial interests.

From the DealBook Summit: Experts Look Forward

Industry leaders at the conference were asked about what’s next for artificial intelligence, the economy, health care and more.

AOG Technics: UK fraud body makes arrest in aircraft parts probe

It has launched a criminal investigation into alleged fraud at aircraft parts supplier AOG Technics.

Walmart CEO says consumers may not be as resilient next year, even as deflation starts to show

In a CNBC interview, Walmart CEO Doug McMillon said the discounter is gearing up for a year when it faces tougher comparisons because of falling prices.

Walmart's hiring and wage pressures have eased, CEO says

Walmart CEO Doug McMillon also said artificial intelligence is changing employees' roles across stores and in warehouses.

China spy agency lashes out at ‘ill-intentioned foreign forces’ that conflate espionage with business

Ministry of State Security seeks to quell accusations that China’s revised anti-espionage law has worsened economic decoupling and the operating environment for foreign firms, as they have increasingly claimed.

Women's sports, NFL's Swift bump and Messi helped define a big year in ticket sales, StubHub says

StubHub is out with its Live Experiences Report which outlines some of the biggest influences in ticket sales for 2023.

Mortgage problems ease but many face ‘price shock’

The Bank of England says fewer households will struggle to keep up with mortgage payments than previously thought.

EU to delay tariffs on UK electric cars until 2027

It comes after EU and UK carmakers said they were not ready for the change in post-Brexit trade rules.

Mortgage refinance demand jumps 14% as rates fall to lowest point since August

After hitting 8% in October, the rate for the popular 30-year mortgage is heading back down toward 7%.

China lays out contrasting vision for financial system, rejects ‘predatory’ Western outlook

In a departure from the West’s view on the role of finance, China has made the case for its own perspective on the industry, primarily as a tool for achieving policy goals and a buttress for weak links in the economy.

China plans to diversify US$406 billion social security fund with ETFs, index products and more to improve returns

The proposed change also aims to lower management fees to ‘maintain and increase’ the value of the fund, which supports China’s welfare system.

Travel giant considers leaving London Stock Exchange

If Tui de-lists its shares it would be another blow to the UK's ability to attract big business.

Chinese automakers splurge on huge carriers to meet overseas demand, ro-ro-rolling their cars abroad

China’s surging car exports, led by EVs, could top 5 million this year – but outsized demand is pitting manufacturers against each other in a price war to secure so-called ro-ro ships that haul thousands of vehicles.

Taiwan’s big China ETF bust shows extent of financial decoupling

Taiwan’s economic and financial decoupling from China has deepened with the near-collapse of what was once the world’s largest Chinese bond exchange-traded fund market.

China advises state firms to keep eye on finances as risk becomes economic watchword

The commission administering China’s largest state firms has cautioned them to control and prevent risk in their financial subsidiaries and operations, a sign of heightened focus on systemic shortfalls as debt burdens continue to plague smaller institutions.

Homeserve founder: 'This earring helped me build my £4bn business'

Richard Harpin, co-founder of Homeserve, explains how an earring taught him an early business lesson.

China’s economic recovery ‘stagnated’: 4 takeaways from November’s manufacturing, services activity

China’s official manufacturing and services purchasing managers’ indices (PMI) disappointed in November, although the Caixin/S&P Global gauges offered signs of recovery last month.

China’s education reforms were meant to lower costs. So why is schooling more expensive?

Two years since China passed education reforms to lower schoolwork burdens and reduce inequalities in education outcomes, the divide only appears to have grown wider and deeper.

Fitch says China’s local government financing vehicles at lower risk of default in 2024

China’s municipalities will see lower default risks at their local government financing vehicles (LGFVs) next year, thanks to a gradual recovery in fiscal revenues and policy support from the central government, analysts said.

CVS to change how it prices prescription drugs with new pharmacy reimbursement model

CVS's new effort aims to do away with a complex model that typically determines how much pharmacies get reimbursed and how much patients pay for medications.

Charter shares plunge after chief financial officer says company may lose broadband subscribers in fourth quarter

Charter shares plunged after its chief financial officer said the company may lose broadband subscribers in the fourth quarter.

Lawmakers ramp up scrutiny of Shein, call for proof it doesn't use forced labor after retailer files for IPO

Lawmakers are ramping up their scrutiny of Shein and calling for proof it doesn't use forced labor after the retailer confidentially filed to go public.

Eli Lilly weight loss drug Zepbound now available at pharmacies as rival Wegovy faces shortages

Eli Lilly's drug serves as an alternative to rival obesity drugs such as Wegovy that are still facing supply issues.

Stellantis resurrects small Fiat 500e EV for the U.S., starting at $34,095

The 500e will be the first all-electric vehicle offered in the U.S. by Stellantis since the company formed in 2021.

Wells Fargo CEO warns of severance costs of nearly $1 billion in fourth quarter as layoffs loom

Wells Fargo CEO Charlie Scharf said low staff turnover means the company would likely book a large severance expense in the fourth quarter.

China forecast to build US$1 billion GM crop market after landmark approval

China’s approval last month of genetically modified (GM) corn and soybeans is likely to lead to a quick and massive growth of a market for the crops in the coming years, analysts predict.

McDonald's investor day is Wednesday. Expect to hear about expansion, tech and China

Shares of McDonald's have risen just 8% this year, trailing the S&P 500's 19% gains.

EV maker Nio narrows loss on record deliveries, pledges more cost-cutting to compete in China’s cutthroat market

The Shanghai-based carmaker posted a third-quarter net loss of 4.56 billion yuan (US$639 million), 24.8 per cent narrower than in the previous quarter.

China amps up calls for ‘unified’ computing network to empower e-commerce and underpin AI

Only about three-quarters of China’s population has internet access, but a new infrastructure drive aims to make connecting to a ‘unified’ network as easy as getting water from the tap or flipping a light switch.

China ‘disappointed’ at Moody’s downgrade of sovereign bonds outlook to negative

Moody’s Investors Service on Tuesday cut the outlook for Chinese sovereign bonds from stable to negative, while keeping their rating unchanged at A1, with Beijing calling their concerns ‘unnecessary’.

China delivers nearly 100 parcels a person in 2023 as e-commerce giants Alibaba, JD.com, PDD slowly recover

Parcel deliveries reached a new high of 120 billion items this week, up 8.5 per cent from all of 2022, as e-commerce sees strong third-quarter recovery.

Forest City: Inside Malaysia's Chinese-built 'ghost city'

Built during the Chinese property boom, Forest City is a stark reminder of the crisis in the sector.

China’s services activity accelerates to 3-month high in November on boost from new orders

China’s Caixin/S&P Global services purchasing managers’ index (PMI) rose to a three-month high in November, data released on Tuesday showed.

What do employers expect staff to know about AI?

More and more jobs require employees to work with generative AI - but what does that mean?

China opens world’s tallest unmanned veggie farm as more urban agriculture advancements take root

Unaffected by climate and geographical constraints, a new Chengdu facility is said to be capable of producing a harvest of lettuce every 35 days under AI-controlled environmental conditions.

China should rely on rule of law, instead of flimsy political promises, to spur growth in nation’s private sector economy

The Chinese leadership’s advocacy for measures to support and spur growth in the private sector economy intensified in 2023, but the protection of private firms’ assets and rights remain a concern.

China’s credit reshuffle aims to squelch risk, restore confidence as recovery lags

Preventing and resolving financial risk is expected to remain high on the agenda at a major economic conference as sweeping changes are made to rural credit systems.

Booking.com users angry at firm's response to hacks

Customers say they have been failed and feel let down after losing hundreds of pounds to fraudsters.

Hong Kong to launch second round of tokenised green bonds to inject some momentum into economy, chief banker tells summit

Hong Kong needs to be more proactive in striving for development opportunities and injecting some momentum into its economy, Hong Kong Monetary Authority CEO Eddie Yue tells an economic summit.

Li Auto, Xpeng pace Chinese EV makers in race towards 2023 sales record amid ‘all-time high’ monthly deliveries

Deliveries hit a record 940,000 units in November, industry body CPCA estimates, as a strong second half of the year puts EV makers on course to meet an ambitious sales target for 2023 despite a bumpy start.

China’s 2030 carbon reduction goal to spare food industry from reforms as security takes priority

China has set a goal of reaching peak carbon dioxide emissions before 2030, but a report says it is likely to delay efforts to deliver on agricultural sustainability goals until then.

‘Cash cow’ subsidies: China targets fraud in farm machinery sales scheme

The money was meant to help farmers to buy equipment as part of the bigger national cause of food security but in at least one case the machinery was soon unusable, according to report.

As China mulls 2024 GDP growth target, Beijing must be willing to serve up more stimulus and economic reform

China’s leadership will convene soon to map out next year’s economic trajectory, but analysts say hitting long-term growth targets depends on whether Beijing implement more stimulus measures.

Former Bridgewater, UBS analyst who called Chinese bank turmoil says US$2.9 trillion trust industry is next

Jason Bedford, a former analyst with Bridgewater and UBS, who predicted the troubles that cascaded through China’s regional banks now has similar warning for the nation’s trust industry.

How weather apps are trying to be more accurate

Forecasters are continuing to offer more real-time updates and personalised recommendations.

3 steps China must take to remain attractive to investors

Beijing should work to restore the confidence of domestic and global investors to ensure continued economic growth benefits everyone. Focusing less on security, increasing data transparency and minimising uncertainty around government actions would be a good start.

China’s bamboo could replace high-emitting plastics, but tech bottlenecks are stunting growth

China’s bamboo forests span far and wide, presenting a more sustainable raw material for products in lieu of high-emitting plastics, but several confounding factors stand in the way of universal adoption.

China urged to look to low-income groups like migrant workers to ignite new growth engines

Proposals from central bank adviser and former Chongqing mayor include further relaxing urban permit system for better access to public services, and buying up surplus flats for affordable housing.

Bankruptcy 'opportunity' after US student loan crisis

Changes in the US are enticing more people to file bankruptcy to clear their student loans.

China county’s local debt snowballs after it hires army of civil servants, despite paltry yearly salaries of US$2,300

Expansion of part-time workers weighs heavily on county’s already-strained fiscal budget at a time when local-level debt has become a major concern across the country.

China’s plans for Greater Bay Area common market should consider EU as model, think tank says

A think tank has recommended the establishment of a common market in China’s Greater Bay Area, proposing a system of regional integration similar to the European Union.

Li Auto and Xpeng continue rewriting monthly sales records, charged by mainland China’s love for battery-powered vehicles

Li Auto and Xpeng, two top premium electric vehicle builders in China, rewrote sales records in November, as their new car models amplified the popularity of battery-powered vehicles.

Chinese EV maker Hozon kicks off operations at its first overseas factory, in Thailand, as it steps up push for Southeast Asian market share

Hozon New Energy Automobile has started assembling vehicles in Thailand at its first overseas factory as it steps up its efforts to tap the Southeast Asian market.

China’s economic data again under the microscope, local authorities warned over falsifying statistics

China’s statistics authority says regions in Guizhou province falsified data, while county governments in Shaanxi province intervened in data gathering following a round of inspections earlier this year.

China’s Xinjiang building world’s longest highway tunnel in play for regional connectivity

A highway tunnel under construction in China’s Xinjiang region is expected to be the world’s longest, and serve as a symbol of stronger ties with Central Asia.

Alistair Darling: Steady hand in an economic crisis

Former Labour chancellor Alistair Darling, who has died at the age of 70, found himself at the centre of the 2008 global financial crisis.

Why food discount stickers may be a thing of the past

Supermarkets and other retailers are increasing switching to AI-powered digital price displays.

'Covid and criminals ruined my Airbnb for cars idea'

A UK entrepreneur explains why his idea to build a car-sharing network like Airbnb didn't work out.

The T-shirt chewing enzyme ready to tackle plastic waste

A French start-up is ready to use an enzyme which can break down plastic on an industrial scale.

The job-sharing apps that feel like online dating

New website platforms are working like matchmakers to connect potential job sharers.

Slick videos or more 'authentic' content? The Israel-Gaza battles raging on TikTok and X

Pro-Palestinian TikTok posts gain traction with Gen Z, while slicker Israeli content is popular on X.

The electronic noses designed to prevent food poisoning

Tech firms have developed AI-powered sensors that can detect bacteria in food.

Omegle: ‘How I got the dangerous chat site closed down’

"Alice" speaks exclusively to the BBC after her successful lawsuit against Omegle forced it offline.

Influencer charged over steroid bust

A prominent fitness influencer and business owner allegedly directed the sale of steroids and other drugs, including to an undercover police officer, using the online moniker “Flame King”, a court has been told.

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