November 16, 20240 Comments

Hyundai names North American exec Jose Munoz as CEO, effective Jan. 1

Hyundai CEO Jaehoon Chang (left) and José Muñoz, Hyundai president and global chief operating officer, attend the 2024 New York International Auto Show Michael Wayland | CNBC DETROIT – Hyundai Motor Co. on Thursday named Jose Munoz as the next president and CEO of the South Korean automaker, effective Jan. 1. Munoz, an auto industry veteran who rose through the company’s North American ranks, will succeed current President and CEO

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November 16, 20240 Comments

Mortgage rates rise despite interest rate cut

Getty Images Mortgage costs are rising – with the average rate on a two-year fixed deal now at 5.5% – despite a recent cut in interest rates. A string of lenders, including Barclays, HSBC, NatWest and Nationwide, have increased the rates charged on new fixed deals in recent days. That has created a headache for borrowers hoping costs were on a consistent downward trend, especially in light of the Bank

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November 16, 20240 Comments

U.S. companies in the crosshairs if China retaliates to fight Trump

With President-elect Donald Trump‘s trade and foreign policy team taking a hawkish stance toward China, U.S. companies are increasingly concerned a hard-line approach could stunt their prospects in the world’s second-largest economy – and turn them into targets of Chinese retaliation. Trump has threatened to hit China with at least 60% tariffs and vowed to end reliance on the country. That alone would be disruptive. It would force companies to

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November 16, 20240 Comments

Record numbers of customers on social tariffs

BBC Morgan Davies and Ellie Bryan got their water bills cut after a no-fault eviction left them struggling The number of households seeking help with water bills in England and Wales rose by more than 250,000 last year, according to figures seen by the BBC, but support varies widely depending on where people live. Water companies spent almost £259m on “social tariffs” last year – discounted bills to help low-income

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November 16, 20240 Comments

McDonald’s to invest over $100 million in E. coli outbreak recovery

A Quarter Pounder with cheese, fries and a drink arranged at a McDonald’s restaurant in El Sobrante, California, on Oct. 23, 2024. David Paul Morris | Bloomberg | Getty Images In the wake of last month’s E. coli outbreak tied to McDonald’s slivered onions, the fast-food giant said it will invest more than $100 million to boost restaurant sales and speed up the recovery at affected franchisees. Of that total,

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November 16, 20240 Comments

Who knew what and when?

Getty Images Former Post Office boss Paula Vennells’ appearance at the inquiry was greatly anticipated After months of evidence, the Post Office Inquiry heard from its final witnesses this week. Closing statements will follow next month before inquiry chair Sir Wyn Williams publishes his final report next year. Much of the evidence centred around who knew what and when, so what did we learn from the key players? And what

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November 15, 20240 Comments

Paul, Tyson fight breaks record for biggest non-Vegas boxing gate

(L-R) Mike Tyson, Nakisa Bidarian and Jake Paul pose onstage during the Jake Paul vs. Mike Tyson Boxing match press conference at Texas Live! in Arlington, Texas, on May 16, 2024. Cooper Neill | Getty Images The highly anticipated boxing match between Jake Paul and Mike Tyson has already secured its place in the record books. The fight’s promoter, Most Valuable Promotions, which is co-owned by Paul, told CNBC it

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November 15, 20240 Comments

China megaport paves way into Latin America as wary US looks on

Reuters Peru’s new megaport is Chinese-built As the world waits to see how the return of Donald Trump will reshape relations between Washington and Beijing, China has just taken decisive action to entrench its position in Latin America. Trump won the US presidential election on a platform that promised tariffs as high as 60% on Chinese-made goods. Further south, though, a new China-backed megaport has the potential to create whole

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November 15, 20240 Comments

Space stocks rally on ‘Trump-Elon trade,’ analysts say

A hot fire test of an Archimedes engine, which powers the company’s Neutron rocket. Rocket Lab This past week saw several pure-play space stocks rally, with leaders up as much as 20% or more, in part driven by what sector analysts said is a “Trump-Elon trade,” a nod to the relationship between President-elect Donald Trump and SpaceX CEO Elon Musk. “I don’t think anyone can underplay the potential catalyst that

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November 15, 20240 Comments

The Onion buys Alex Jones’s Infowars at auction

Satirical news publication The Onion has bought Infowars, the media organisation headed by right-wing conspiracy theorist Alex Jones, for an undisclosed price at a court-ordered auction. The Onion said that the bid was secured with the backing of families of victims of the Sandy Hook Elementary School shooting, who won a $1.5bn (£1.18bn) defamation lawsuit against Jones for spreading false rumours about the massacre. A judge in Texas ordered the

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