Business news
- Taiwan will invest $250 billion in U.S. chipmaking under new trade deal - The U.S. and Taiwan have reached a trade agreement to build chips and chip factories on American soil, the Department of Commerce announced on Thursday.
- Trump unveils health-care plan outline as Congress wrestles over Obamacare subsidies - Trump urged Congress, which is grappling over an extension of key ACA tax credits, to pass "The Great Healthcare Plan" without delay.
- Amazon threatens ‘drastic action’ after Saks bankruptcy, says $475M stake is now worthless - Amazon invested $475 million into Saks's acquisition of Neiman Marcus. It wants a federal judge to reject Saks's bankruptcy plan because it harms creditors.
- Oil falls more than 4% as traders see Trump backing away from Iran strike threats - Concerns about a U.S. strike on Iran had been mounting after Trump vowed to take action against the regime’s crackdown on widespread protests in the country.
- Spotify hikes U.S. Premium subscription price months after last rate increase - Co-founder Daniel Ek recently stepped down as CEO, with co-CEOs Gustav Söderström and Alex Norström now at the helm of the music streamer.
- Fed's Goolsbee says inflation could come 'roaring back' if central bank independence goes away - "Anything that's infringing or attacking the independence of the central bank is a mess," Goolsbee told CNBC.
- Goldman Sachs tops profit estimates as equities, asset and wealth management outperform - Trading desks across Wall Street have benefited in the last year as Trump's policies have roiled markets for bonds, currencies, commodities and stocks.
- Automakers like Ford and GM are jumping into a whole new business where Tesla is a serious player - Automakers Ford and GM are trying to figure out what to do with battery factories now that EV sales are falling way short of forecasts
- Australia banned social media for under 16s a month ago — here's how it's going - The effects of a new social media ban for under 16s in Australia has been mixed so far. Some teens are embracing new habits while others are bypassing the law.
- NATO nations deploy to Greenland after tense White House talks - The joint NATO exercise comes shortly after tense talks between officials representing the U.S., Denmark and Greenland.