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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow the U.S. lost thousands of high-skilled workers to CanadaIn July, Canada opened applications for a pilot program that would allow up to 10,000 H-1B visa holders in the U.S. to apply for a three-year open-work permit in Canada. Since then, more than 6,000 high-skilled U.S. foreign workers have arrived in Canada. CNBC spoke with several foreign tech workers and immigration consultants to uncover the story of how the U.S.'s bureaucratic visa process pushed thousands of high-skilled workers north.

Organizations: CNBC Locations: U.S, Canada

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy Apple, Amazon and Qualcomm base their chips on Arm, helping it become the year's biggest IPOArm beat expectations in its first post-IPO earnings report Wednesday. Its low-power chip architecture is in nearly every smartphone, replaced Intel's x86 processors in Apple's Mac computers, and is the basis for Qualcomm's PC processors, and Amazon's data center chips. CNBC went to Arm in Cambridge, England, to find out how it became the year's biggest IPO despite 20% of revenue coming from China, struggling smartphone sales, and a failed $40 billion acquisition attempt by Nvidia.

Organizations: Amazon, Qualcomm, CNBC, Nvidia Locations: Cambridge, England, China

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhat's wrong with U.S. cashThe U.S. hasn't updated physical currency like the rest of the world. Other countries have turned lower denomination bills into coins and paper notes have been converted to polymer. While electronic payments are on the rise in the U.S., physical cash is circulated more than ever. Experts claim that the choice to continue printing paper notes is fueled by special interests but the Federal Reserve says changing currency is costly and complex.

Organizations: U.S, Federal Reserve Locations: U.S

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow to retire with $1 million if you're making $120,000 per yearYou can save $1 million for retirement while making $120,000 per year, but it's easier if you start investing as soon as possible. Here's a breakdown of how much of your salary you'll need to invest.

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMicron is building the biggest-ever U.S. chip fab, despite China banMicron, Samsung and SK Hynix are responsible for making 90% of the world's DRAM memory chips, and Micron is the only one based in the U.S. That's made it the latest target of bans from China. Yet Micron is spending $115 billion to build the biggest chip project in U.S. history. CNBC visited Micron in Idaho and talked to Gov. Kathy Hochul in New York to hear about the new fabs. We also asked Senate Majority Leader Chuck Schumer about Micron ahead of his meeting with Chinese President Xi Jinping.

Persons: That's, Kathy Hochul, Chuck Schumer, Xi Jinping Organizations: Micron, Samsung, SK Hynix, CNBC Locations: China, U.S, Idaho, New York

Over the past couple of years, airlines and credit card companies such as American Airlines, United Airlines, Chase and Capital One have been investing millions into expanding their airport lounge networks for customers. According to Chase, lounge access is often the top-cited reason for its credit card sign-ups, and by the end of 2023, Delta said it would add 2,700 seats to its lounges. However, lounges have become so popular that some face overcrowding, and companies such as Delta are making it harder to get airline status.

Persons: Chase, Delta Organizations: American Airlines, United Airlines, Chase, Capital

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy New York will charge up to $23/day to drive into ManhattanDrivers crossing through Manhattan's central business district will face a new toll beginning in the Spring of 2024. The fee is expected to be between $9 and $23 per day for drivers entering or exiting during peak traffic hours. Regional planners believe "congestion pricing" will nudge more drivers onto transit. The MTA is using the toll revenues to reinvest in its aging infrastructure. The funds will go toward improvements to system reliability, accessibility and sustainability.

Organizations: Manhattan Drivers, MTA Locations: York, Manhattan's

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmerica's billion-dollar tornado problemTornadoes are a billion-dollar problem in the United States. From 2018 to 2023, there have been 17 billion-dollar climate disasters involving tornadoes. The costs are expected to grow, but the U.S. is not helpless when it comes to tornado damage. Engineers know how to build stronger structures that can withstand high winds. Part of the challenge of creating more tornado resilience in the U.S. is that building codes are generally a local and a financial decision.

Organizations: Engineers Locations: United States, U.S

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow GlobalFoundries rose to be the world's third-biggest chip foundryIn its short 14-year history, GlobalFoundries has risen to the world's third-largest chip foundry. While it's not making the most advanced nodes or seeing huge gains from AI, it's quietly helping power nearly every connected device. GlobalFoundries is the only top foundry based in the U.S., giving it an edge as tensions with China cause concern over reliance on Asia-made chips. Now it's spending $7 billion to expand in Singapore, Germany, France, and New York, where CNBC got this firsthand look.

Persons: GlobalFoundries, it's Organizations: CNBC Locations: U.S, China, Asia, Singapore, Germany, France, New York

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe global controversy around deep sea miningThere are billions of tons and billions of dollars worth of critical minerals in the deep sea. However, the debate over whether or not to extract them has become a global controversy, due to potential ecological disruptions and the lack of international regulations governing this type of mining. One corporation, The Metals Company, is forging ahead and planning to begin extraction by 2025, leaving many concerned that this timeline is too aggressive considering the absence of global governance.

Organizations: The Metals Company

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow inflation expectations and consumer behavior can manifest higher pricesWhat people believe may happen to prices in the future can influence actual inflation. "People behave in accordance with their expectations and with their sentiment and attitudes towards the economy," Joanne Hsu, director of the Surveys of Consumers at the University of Michigan, told CNBC. Watch the video above to learn more about how inflation expectations are measured, why the Federal Reserve cares so much about what Americans predict and how consumer behavior can manifest higher prices.

Persons: Joanne Hsu Organizations: Consumers, University of Michigan, CNBC, Reserve

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy the U.S. economy needs debt, according to some economistsThe U.S. national debt hit nearly $33 trillion as of early September 2023. Every year since 2001, the U.S. government has spent more money than it takes in, which means it has to borrow money to make up the difference. The national debt is frequently discussed as a danger to future generations, but some economists say that, unlike household debt, there's no reason to get the national debt down to zero. Most economists warn, however, that there's a balancing act when it comes to the national debt.

Organizations: U.S Locations: U.S

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow Qualcomm is betting big on AI and auto to hold onto wireless dominanceQualcomm long reigned as the world's biggest fabless chip company, pioneering the cellular age and making the modems inside nearly every smartphone today. But ChatGPT sent Nvidia's revenue soaring past Qualcomm's in August, and Apple is working on its own modems for iPhones in 2024. Now, Qualcomm is diversifying into smart cars, chips for VR headsets and a push to power generative AI off the cloud. CNBC got a look at Qualcomm's chip lab in San Diego to learn more.

Persons: ChatGPT Organizations: Qualcomm, Apple, CNBC Locations: San Diego

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow Meta's $19 billion bet on WhatsApp could finally start paying offFacebook, now called Meta, acquired WhatsApp for a historic $19 billion in 2014. Today, over half of the world's internet users are on WhatsApp, but the free messaging service has never generated much revenue. WhatsApp is looking to change that by leaning into its business messaging services, in which companies pay a fee to interact with customers on the platform. But it remains to be seen whether this will take off, especially in the U.S., where WhatsApp has struggled to gain traction.

Persons: WhatsApp Organizations: Facebook, Meta Locations: U.S

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy airplane boarding is inefficient — and likely to remain soWe all know airplane boarding isn't the most exciting part of a trip. But have you ever questioned why the process isn't faster? There are different boarding methods: front-to-back; back-to-front; random; unassigned seating; and window, middle, aisle (WILMA). CNBC got a behind-the-scenes look in Atlanta where Southwest Airlines is prototyping new solutions to speed up the process. Will we soon see a faster boarding method?

Persons: WILMA Organizations: CNBC, Southwest Airlines Locations: Atlanta

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhat it costs to save a town from sea-level riseThe Quinault Indian Nation, located about 150 miles west of Seattle on the Washington coast, has experienced severe flooding due to sea-level rise over the past few years. And it's only poised to get worse. So with the assistance of state and federal funding, the tribe is preparing to move a mile up the hill, where a new village is being built. But relocation is a long and expensive process, and questions remain about how tribal members will afford the move.

Locations: Quinault, Seattle, Washington

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy penny stocks are so riskyAs more retail investors trade penny stocks, innocent traders could be become victims. These equities are more vulnerable to fraud and have a history of multimillion-dollar scams. "I'm getting a lot of calls from investors who are duped and getting scammed by penny-stock operators," Jacob Zamansky, an investment fraud lawyer, told CNBC. Watch this video to learn more about how penny stocks inspired a new breed of investors, high-stakes gamblers, risk-taking fraudsters and enforcement crackdowns.

Persons: I'm, Jacob Zamansky Organizations: CNBC

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThese companies are leading the charge to manufacture materials in spaceSpace offers a unique environment for research and development because its higher levels of radiation, microgravity and near vacuumless state allow companies to come up with new manufacturing methods or materials that are not possible on Earth. CNBC spoke with two companies, California-based Varda Space Industries and UK-based Space Forge, to see how the startups hope to make manufacturing in space a profitable business.

Persons: Varda Organizations: Space, CNBC, Varda Space Industries Locations: vacuumless, California

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's how the sriracha shortage could've preventedSriracha maker, Huy Fong Foods, has cited weather-related issues to be the cause of the shortage of its sauces. While drought has played a factor in many pepper growing regions in North and Central America in recent years, it may not be the full story. Huy Fong Foods' former pepper supplier of 28 years, Underwood Ranches, told CNBC that it could have kept up with the hot sauce company's demand if the two parties' business relationship had not come to an end in 2017.

Persons: Huy Fong, Underwood Organizations: Huy Fong Foods, Central America, CNBC Locations: North

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's why Constellation Brands bet big on Modelo. And won against Bud LightConstellation Brands, which owns the U.S. licensing rights to Mexican beers like Modelo, Corona, Victoria and Pacifico is on fire. For the first time in 22 years, Modelo Especial beat out Bud Light as the country's top-selling beer in May. Constellation reported revenue of $2.5 billion in the quarter ending May 31, a 6.4% increase from the same quarter last year. The company's beer business delivered double-digit net sales growth of 11%.

Persons: Bud, Bud Light Organizations: Constellation Brands, Modelo, Bud Light Constellation Brands, Pacifico, Modelo Especial, Constellation Locations: Corona, Victoria

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. car loans total $1.5 trillion. Why consumers are strugglingCar loan debt in the U.S. is at a record high of $1.56 trillion. Between the Covid-19 pandemic, supply chain issues, alleged predatory lending practices, inflation, and the Federal Reserve's interest rate hikes, getting an auto loan has gotten more stressful, difficult and expensive. CNBC spoke with Chase Auto and Toyota Financial Services. Here's what they say is happening in the auto loan industry and what consumers can do to ensure they're protected.

Organizations: U.S, CNBC, Chase Auto, Toyota Financial Services Locations: U.S

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow EVs Are Disrupting Small Car Parts SuppliersCompanies that make parts for internal combustion engines are facing a harsh future. The switch to EVs means companies need different parts, and EV powertrains have thousands fewer components than ICE cars. Automakers are finding more efficient ways to build cars, and are making a greater share of parts in-house. Many suppliers are small, family owned firms that have been around for decades. But even the large publicly traded suppliers such as Bosch, Denso, American Axle, Magna and ZF are affected.

Organizations: Suppliers Companies, EV powertrains, Bosch

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow the EPA determines electric vehicle rangeSince the Environmental Protection Agency was founded in 1970, one of its primary tasks has been testing gas burning vehicles - both to see how much they pollute and to tell consumers how many miles per gallon they are liable to get in a car. But since electric vehicles came to market in significant numbers after 2010, the agency has begun shifting toward testing EV range. The trouble is that EV technology is changing…fast. The agency has had decades to refine standards for gas burning cars, and just a few years for EVs. CNBC went inside the EPA's testing lab to find out how they test for EV range.

Organizations: Environmental Protection Agency, EVs, CNBC

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow Texas became the center of U.S. chipmakingTexas is now the top state for U.S. chip manufacturing. It has the highest number of semiconductor fabrication plants, and six new projects will bring an additional $61 billion and 8,000 jobs. 65 years after the integrated circuit was invented in Texas, chip giants are now attracted by low taxes and the $1.4 billion Texas CHIPS Act passed in June. CNBC got a tour of Texas Instruments' $30 billion site being built north of Dallas and Samsung's $17 billion fab under construction near Austin.

Organizations: CNBC, Texas Instruments Locations: Texas, chipmaking Texas, U.S, Dallas, Austin

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmerica's $2 billion peanut butter industryPeanut butter is a $2 billion dollar industry in the U.S. and has continued to increase profits yearly as purchases grow and prices rise, though peanut butter's price has remained low. Peanut butter has has a 90% household penetration rate, meaning it is seen in most American households. With that legacy, it's a delicate balance for top brands to innovate while still being consistent with expectations. Three brands hold the top market share — Jif, Skippy and Peter Pan.

Persons: Skippy, Peter Pan Locations: U.S

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