Wal-Mart announced it would raise its starting wage to $11 an hour, thanks to the newly passed tax reform. And South Korean regulators say they may ban trading in Bitcoin, sending the price of cryptocurrencies plunging.
Plus the latest from CES, as Samsung teases its new Galaxy S9 phone, and China's Huawei comes under fire from U.S. regulators.
And ICE agents raiding 7-Eleven stores around the country to crack down on illegal immigrants. That as the deadline for Congress to pass legislation protecting "Dreamers" from deportation looms large.
President Donald Trump said he has decided to lower his combined tariff rates on imports of Chinese goods to 47% after talks with Chinese leader Xi Jinping on curbing fentanyl trafficking.
Universal Music Group and AI platform Udio have settled a copyright lawsuit and will collaborate on a new music creation and streaming platform. The companies announced on Wednesday that they reached a compensatory legal settlement and new licensing agreements. These agreements aim to provide more revenue opportunities for Universal's artists and songwriters. The rise of AI song generation tools like Udio has disrupted the music streaming industry, leading to accusations from record labels. This deal marks the first since Universal and others sued Udio and Suno last year. Financial terms of the settlement weren't disclosed.
Nvidia on Wednesday became the first public company to reach a market capitalization of $5 trillion. The ravenous appetite for the Silicon Valley company’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023.
Chris Williamson, Chief Business Economist at S&P Global, breaks down September’s CPI print and inflation trends, explaining what it means for markets.
