Business news
- High cost of goods is causing consumers to spend less for the holidays, CNBC survey finds - The latest CNBC All-America Economic Survey found the "high cost of goods" has emerged as a major factor affecting how much shoppers spend and where they spend.
- FDA approved a $250,000 Singapore work trip during government shutdown, records show - The FDA sent 31 staffers to a Singapore conference during the shutdown, records show, raising questions of optics, spending and the agency's strained resources.
- Ukraine gives up joining NATO in bid to shift the dial in Russia peace talks - Russia's opposition made NATO membership unlikely for Ukraine, but it's a major policy shift to publicly abandon the goal.
- Hong Kong court finds pro-democracy activist Jimmy Lai guilty of sedition and collusion with foreign forces - The 78-year-old was charged under Hong Kong's controversial national security law, enacted by Beijing in 2020.
- China's retail sales growth sharply misses estimates in November, deepening consumption worries - China's retail sales growth and industrial production missed estimates in November while investment declined more than expected.
- Asia-Pacific markets set for lower open ahead of key data from China and Japan - China will release its November retail sales, fixed asset investment and industrial output numbers, while Japan will announce its fourth-quarter Tankan survey.
- Broadcom and Costco's rich valuations leave little room for error as battleground stocks - In his Sunday column for Investing Club subscribers, CNBC's Jim Cramer writes about the issues facing Broadcom and Costco.
- Here are the 2 big things we're watching in the stock market this week - This week is the last full trading week on Wall Street for the year, and it is packed with key economic and earnings reports.
- ServiceNow in talks to acquire cybersecurity startup Armis in potential $7 billion deal, Bloomberg reports - Software company ServiceNow is in advanced discussions to acquire Armis, a cybersecurity startup last valued at $6.1 billion.
- Trump wants the U.S. shipbuilding industry to be great again. Here's what it will take, and what's at stake - President Trump is promising a shipbuilding renaissance in the U.S. to rival China, but it will not happen overnight, and will require allies.