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Enacted by Congress in 2022, "Secure 2.0" ushered in sweeping changes to the U.S. retirement system, including several updates to 401(k) plans. 'Exciting change' for catch-up contributionsFor 2025, employees can defer $23,500 into 401(k) plans, up from $23,000 in 2024. Shorter wait for part-time workersSecure 2.0 has also boosted access to 401(k) and 403(b) plans for certain part-time workers. Starting in 2024, employers were required to extend plan access to part-time employees who worked at least 500 hours annually for three consecutive years. "That's a very good thing for long-term part-time workers" who may have struggled to qualify for 401(k) eligibility, said Stinnett.
Persons: Tang Ming Tung, Dave Stinnett, Jamie Bosse, Dave Stinnett Vanguard's, Alicia Munnell Organizations: Getty, CNBC, Workers, CGN Advisors, America, U.S . Bureau of Labor Statistics, Center for Retirement Research, Boston College Locations: Manhattan , Kansas, That's
The low-lying clouds over the city lit up for a split second, video footage showed, then streaks of dozens of glowing warheads plummeted out of the sky. The main contours of the attack on Thursday morning soon came to light: President Vladimir V. Putin said Russia had test fired an intermediate-range missile from its arsenal designed to deliver nuclear weapons, though without the nuclear warheads aboard. The Russian strike caused little damage, but it capped a dizzying week of tit-for-tat moves in the war in Ukraine, shifting focus from the ground assaults on the battlefield to a Cold War-style missile brinkmanship. In the previous two days, Ukraine had fired longer-range missiles provided by the U.S. and Britain at military targets inside Russia. Mr. Putin made clear that the Russian missile test was a response to those strikes — a warning to the West to reconsider military aid for Kyiv.
Persons: Vladimir V, Putin Organizations: U.S, Russian, Kyiv Locations: Dnipro, Ukrainian, Russia, Russian, Ukraine, Britain
New York CNN —This week ended with President-elect Donald Trump nominating one of the most pro-union Republican members of Congress to be his secretary of Labor. Trump support growing among unionsTrump received more support from rank-and-file union members in this election than he had in past elections. “Now he is threatening to take the unprecedented action of removing current pro-worker NLRB members in the middle of their term, replacing them with his corporate friends. Nearly half of the nation’s union members work for different units of government, not companies. Many of the public-sector bargaining rights are not set at the national level, but at the state level, where most public-sector employees and union members work.
Persons: Donald Trump, Elon Musk, shouldn’t, Lori Chavez, DeRemer, “ Lori Chavez, , United States —, Chavez, Biden, Kamala Harris, Joe Biden, Harris, It’s, Mitt Romney, Sean O’Brien, Trump, O’Brien, Becky Pringle, Pringle, Donald Trump’s, , ” Pringle, ” Jody Calemine, Calemine, Jennifer Abruzzo, Musk, he’s, Todd Vachon, ” Vachon, “ I’m, ” “, “ Trump Organizations: New, New York CNN, Republican, Labor, National Labor Relations Board, Labor Department, AFL, United, Trump, CNN, United Auto Workers, Teamsters, Convention, National Education Association, NLRB, Biden, SpaceX, Occupational Health, Safety Administration, Musk, Tesla, UAW, Labor Education Action Research Network, Rutgers, National Employment Law, Competitive Enterprise Institute Locations: New York, United States, unionize
AdvertisementDr. Casey Means and her brother Calley are helping shape RFK Jr's new approach to America's health. In a best-selling book "Good Energy," she makes a case that modern diseases are rooted in metabolic health. Robert F. Kennedy Jr. is a fan of Casey Means' work and views in the wellness space. Her mantra is that a healthy metabolism can reverse many health conditionsMeans' book promotes the pursuit of Good Energy, which she defined as great metabolic health. AdvertisementShe espouses popular advice around diet, exercise, and sleepThroughout the book, Means promotes widely agreed-upon health advice.
Persons: Casey Means, Calley, Dr, Marc Andreessen, Means, John McCain's, Donald Trump, Robert F, Kennedy Jr, Kennedy, MAHA —, Rebecca Noble, Tucker Carlson, Joe Rogan's, I've, Brad Stulberg, Christy Harrison, they've, Calley Means, Matt Harbicht, Andrew Huberman, Peter Attia, Harrison, Meredith Schneider Organizations: RFK, Stanford, Department of Health, Human Services, Wall Street Journal, Good Energy, University of Michigan, pharma, Tandem Diabetes Locations: Spain
Millions of Americans facing retirement are worried they won't be financially prepared — or fear that they'll have to work forever. Others said they took Social Security too early or retired without a long-term financial plan. Some older Americans wish they'd had more investing knowledgeA major theme among BI's survey respondents was that they lacked knowledge about investing. She also didn't realize that because she has a pension in addition to receiving Social Security when she retires, she would be affected by a little-known Social Security provision that would lower her monthly check. Between her pension of $713 monthly and Social Security, which she expects will be between $1,200 and $1,400 monthly, she'll have just enough to cover her rent.
Persons: they'd, boomer, Gary Lee Hayes, he'd, Hayes, Charles Schwab, Nancy Seeger, Seeger, she's, I've, Nevenka Vrdoljak, Vrdoljak, PJ White, White, She's, hasn't Organizations: Social Security, Navy, Verizon, Vanguard, Transamerica Institute, Medicare, Bank, America's, Bank of America, Merrill, Bank of America Private Bank Locations: California, Cleveland, San Diego
He has plucked two Fox News stars from their airwaves – Sean Duffy for Treasury secretary and Pete Hegseth to lead the Pentagon. Trump’s choice for ambassador to Israel, Mike Huckabee, had a six-year run hosting a Fox News show. As a former reality TV star, Trump is deeply attuned to the power of the small screen. Among the flurry of names for non-Cabinet roles that Trump announced Friday evening were also several former and current Fox News contributors. And Sebastian Gorka, whom Trump named senior director of counterterrorism, was a Fox contributor in 2018 and 2019.
Persons: Donald Trump’s, Sean Duffy, Pete Hegseth, Trump, Mehmet Oz, Linda McMahon, Mike Huckabee, Tulsi Gabbard, Tucker Carlson, Donald Trump, Eva Marie Uzcategui, Duffy, Rachel Campos, , , Oz, Mike Waltz, Kristi Noem, Sen, Marco Rubio, Howard Luntick, Rebecca Quick, I’ve, Doug Burgum, Tom Homan, Homan, ” Trump, Matt Gaetz, Gaetz –, , JD Vance, Scott Applewhite, Pam Bondi, Hegseth, headwinds, Chris Coons, CNN’s Manu Raju, Dr, Janette Nesheiwat, Marty Makary, Robert F, Kennedy Jr, Sebastian Gorka, Neil Gorsuch, Brett Kavanaugh, Larry Kudlow, Christina Bobb, Rupert Murdoch’s, Bret Baier, Kamala Harris, Vance, Rubio, Burgum, ” CNN’s Kate Sullivan, Manu Raju, Alayna Treene, Brian Stelter Organizations: CNN, Fox, Pentagon, Department of Education, Fox News, Trump, TV Cabinet, Fox Business, Medicare, Republicans, South Dakota Gov, Department of Homeland Security, Wall Street, CNBC, Commerce, North Dakota Gov, of, Interior, Republican, Capitol, Florida, and Drug Administration, “ Fox, Department of Health, Human Services, Salem Radio Network, National Economic Council, America News Network Locations: Israel, Mar, Palm Beach , Florida, Wisconsin, Minnesota, Pennsylvania, Florida, America, Spanish, Washington ,, Gaetz, Delaware, Ohio
I found that I was clashing with the culture of Silicon Valley. I attributed that attitude to the Silicon Valley atmosphere. In Silicon Valley, you have a lot of Google people, a lot of Meta people, and, at the time I was there, a lot of Tesla people. An aerial view of Silicon Valley. The sustainability hub is in Silicon Valley, and moving to the other side of the country felt like I was separating myself from that.
Persons: Adam Fletcher, Fletcher, NerdWallet, unravels ChatGPT, I've, They're, we're, It's, There's, Philadelphia Jon Lovette, Philly Organizations: San, Philadelphia, Stanford, Applied Materials, East, Carbon, Carbon Reform, Eagles, Phillies, University of Pennsylvania, Drexel University Locations: San Francisco, East, San Francisco , California, Philadelphia , Pennsylvania, Philly, Philadelphia, Bay, Santa Clara, California, Silicon Valley, Silicon, East Coast, Rittenhouse, New York, DC
Currently, individuals and married couples can gift or bequeath $13.61 million and $27.22 million, respectively, before a 40% federal estate tax kicks in. AdvertisementThe heirs don't own the trust assets but rather have lifetime rights to the trust's income and real estate. Any payout is also protected from estate taxes, even if the insured's estate and death benefit exceed the exemption. AdvertisementThis tactic can also be used to save on estate taxes by ultra-rich entrepreneurs who have already used their exemption but have less-wealthy parents who haven't. When the children inherit the assets, the federal estate tax doesn't kick in as long as the grandparents' estate does not exceed $27.22 million.
Persons: Trump, Robert Strauss, Weinstock Manion, Uncle Sam, Wrigley, Jeff Bezos, Jackie O, Edward Renn, Tyler Le, remarries, Jenny Chang, Rodriguez, Sam Walton, haven't Organizations: Republican, Getty, IRS, Federal Reserve, Walmart Locations: Cayman Islands, Bermuda, Washington, Florida, Wyoming, Plenty
CNN —Beyoncé proved that she and her Destiny’s Child sisters are true survivors with a warm appreciation post shared to her Instagram on Saturday morning. The carousel of content showed Beyoncé and her mother Tina Knowles in attendance at the Lunt-Fontanne Theatre for the show, along with Kelly Rowland, who rounded out the Destiny’s Child trio in its final formulation. Videos and photos showed the three divas smiling in the theater, with Williams in costume. In the new musical, Williams plays Viola Van Horn, based on the mysterious character immortalized in the movie by Isabella Rossellini, who gives the women the potion. “Death Becomes Her” the musical has been earning rave reviews and also stars Tony-nominated Broadway performers Megan Hilty and Jennifer Simard.
Persons: CNN — Beyoncé, Carter, Michelle Williams, Beyoncé, Tina Knowles, Kelly Rowland, Williams, Robert Zemeckis, Meryl Streep, Goldie Hawn, Bruce Willis, Viola Van Horn, Isabella Rossellini, Tony, Megan Hilty, Jennifer Simard Organizations: CNN, Broadway, Fontanne Locations: New York
In 2022, 69.3% of Americans reported some alcohol consumption in the previous year, a slight increase from 69% in 2020 and 66.34% in 2018. Though the researchers couldn’t answer exactly why alcohol consumption was so high among the US adults surveyed, Lee has a few hypotheses. The height of the pandemic also saw an average of about 488 deaths per day due to excessive alcohol consumption; there was an increase of more than 29% from 2016-17 to 2020-21. “We’ve shown in studies that liver transplants for alcohol have increased fivefold in the last 20 years. We’ve also shown that alcohol deaths due to liver disease are surging,” he said.
Persons: Brian Lee, ” Lee, hasn’t, Lee, , Jagpreet Chhatwal, , ” Chhatwal, Dr, Sanjay Gupta, “ We’ve, We’ve, Chhatwal Organizations: CNN, University of Southern California’s Keck School of Medicine, Internal, National Health, US Census Bureau, , Institute for Technology, Massachusetts General Hospital, National Institute, Alcohol, US Centers for Disease Control, CNN Health Locations: Massachusetts
London's historic art scene is getting a tech upgrade
  + stars: | 2024-11-23 | by ( ) www.cnbc.com   time to read: +1 min
The United Kingdom's historic art scene has embraced technology such as artificial intelligence, as it evolves to compete with growing markets such as China. While the United States and China hold the number one and two spots respectively, the U.K.'s contribution to the art market is nothing to be sniffed at – holding 17% of the global share, according to the Art Basel and UBS Art Market Report. London is widely regarded as the art hub of Europe, and its biggest art fair, Frieze, boasted 90,000 visitors in 2024. Within the art world, it's been sort of bubbling away, burning away for a while, and it's suddenly caught fire," said Henry Highley, Head of European Private Sales for Phillips. Watch the video above for an up-close look at some of the art breaking barriers on London's art scene.
Persons: Eva Langret, it's, Langret, Marie Antoinette's, Phillips, Henry Highley Organizations: Art Basel, UBS Art, Frieze, CNBC's, European Locations: China, United States, Europe, Frieze London
Musk recently said his choice for the influential Treasury secretary role would be Howard Lutnick. As President-elect Donald Trump assembles the key players to drive his new administration's agenda, Elon Musk is rarely far away. Trump tapped hedge fund manager Scott Bessent, the founder and chief executive of Key Square Group, to be his next Treasury secretary on Friday. Bessent, a Wall Street veteran and a top economic advisor to Trump, emerged as a favorite of the president-elect while on the campaign trail this year. The Wall Street Journal reported that Trump sought advice from Wall Street leaders for the Treasury spot, and his advisors told him that analysts would view Bessent as a stabilizing figure.
Persons: Elon, Donald Trump's, Musk, Howard Lutnick, Trump, Scott Bessent, Donald Trump, Elon Musk, Vivek Ramaswamy, Bessent, Cantor Fitzgerald, Organizations: Mar, UFC, of Government Efficiency, Trump, Key Square, Wall Street, Senate, Street Journal, Treasury, Business Locations: Lago, Florida, New York, Trump's, United States
CNN —Harry Kane became the fastest player to score 50 Bundesliga goals as Bayern Munich beat Augsburg 3-0 on Friday. The 31-year-old striker netted all three of Bayern’s goals as the club continued its impressive start to the Bundesliga season. Kane has now scored 50 goals in 43 games in the German top division, beating Erling Haaland’s record of 50 goals in 50 games when he was starring for Borussia Dortmund. Kane scored twice from the penalty spot before completing his hat-trick with an innovative finish. With time running out, Bayern Munich midfielder Leon Goretzka delivered a perfectly weighted cross which found Kane in the Augsburg box.
Persons: Harry Kane, Kane, Erling Haaland’s, , ” Kane, Leonhard Simon, Leon Goretzka, , Vincent Kompany Organizations: CNN, Bayern Munich, Augsburg, Bundesliga, Borussia Dortmund, Reuters, ” Bayern Munich, , Bayern, RB Leipzig, French, PSG, Champions League Locations: England, Augsburg
They were each convicted on four counts related to human smuggling, including conspiracy to bring migrants into the country illegally. “This trial exposed the unthinkable cruelty of human smuggling and of those criminal organizations that value profit and greed over humanity,” Minnesota U.S. Attorney Andy Luger said. Shand was to pick up 11 Indian migrants on the Minnesota side of the border, prosecutors said. Canadian authorities found the Patel family later that morning, dead from the cold. Rajinder Singh, 51, testified that he made over $400,000 smuggling over 500 people through the same network that included Patel and Shand.
Persons: Ramanlal Patel, Harry, , Steve Shand, Attorney Andy Luger, , ” Luger, Harshkumar Patel, Luger, Jagdish Patel, Vaishaliben, Dharmik, Jan, Patel, Shand, Prosecutors, Rajinder Singh, Singh, El Salvadorans, Jamie Holt, ” Holt, Kevin Paul, ” Paul Organizations: Fergus Falls , Minnesota AP, Indian, Minnesota U.S, Attorney, Minnesota -, Attorney’s, Associated Press, Immigration, Customs, Canadian Press, Bank, U.S ., The U.S . Border Patrol, Pew Research, Homeland Security Investigations Locations: Fergus Falls , Minnesota, Canada, U.S, American, Florida, Minnesota, Minnesota - Canadian, Harshkumar Patel Sherburne, India, Gujarat, , The U.S, El, Clearwater , Minnesota, North Dakota
But first came an invitation to have dinner in the suburbs with a senior official from their party in the Indian state of Maharashtra. They would share a car ride, and Mr. Deshmukh could catch the train from there. That, Mr. Deshmukh said, is when he realized he was being kidnapped. Mr. Deshmukh had become a pawn in what is known as “resort politics,” a longstanding practice unique to India’s rough-and-tumble democracy. To ensure that they would stick to the plan, the lawmakers were moved to other states and isolated in luxury resorts.
Persons: Nitin Deshmukh, Deshmukh, Mr, Locations: Mumbai, Indian, Maharashtra
Microsoft on Friday started letting people test Recall, its so-called photographic memory search feature for the latest Copilot+ PCs. Microsoft first touted Recall in May as a prominent feature that would only be available for cutting-edge Copilot+ PCs running the Windows 11 operating system, like the latest Surface Pro. A backlash from cybersecurity experts about the potential risks of Recall, however, led Microsoft to revamp it. Copilot+ PCs with AMD or Intel chips are out of luck for now. WATCH: Microsoft to release controversial Windows Recall AI search feature to testers in October
Persons: It's, you've Organizations: Microsoft, Pro, Qualcomm, Windows, AMD, Intel Locations: New York
Your Heart’s Desire
  + stars: | 2024-11-23 | by ( Melissa Kirsch | ) www.nytimes.com   time to read: +1 min
I’m not a huge fan of musicals, nor of action movies. I’m a cultural omnivore, personally and professionally, so I knew I would eventually see these movies. But I would be seeing them as a sociologist, a curious outsider rather than the ideal audience member. I wasn’t going to be mouthing every word to “Defying Gravity” or comparing Lucius’s performance in the arena to that of his father. It’s the reward for a life discerningly lived — you know who you are.
Persons: It’s, ” Jon M, Cynthia Erivo, Ariana Grande, ” Ridley Scott’s, Barbie ”, “ Oppenheimer ”, it’s, pleasurably, discerningly
In a year of landmark elections, my country’s presidential vote last month flew under the radar. And perhaps with good reason: Uruguay’s balloting was marked by unexciting candidates and their lackluster attempts to entice undecided voters to the polls. An uneventful vote seems preferable to the deep polarization that has surrounded presidential elections over the past year in countries like El Salvador, Argentina, Venezuela and even the United States. And young Uruguayans are afflicted by many problems. As it did in other countries, the Covid-19 pandemic left Uruguay in the grip of a mental-health crisis that hit this group hard.
Persons: It’s Locations: Uruguay, El Salvador, Argentina, Venezuela, United States, America, Latin America
Bernie Moreno, Republican U.S. Senate candidate from Ohio, attends a campaign event in Holland, Ohio, on Saturday, October 26, 2024. In total, crypto-related PACs and other groups tied to the industry reeled in over $245 million, according to Federal Election Commission data. Crypto accounted for nearly half of all corporate dollars that flowed into the election, according to nonprofit watchdog Public Citizen. It was one of the top spending committees of any industry this cycle and exclusively gave to pro-crypto candidates running for Congress. "Welcome to America's most pro-crypto Congress ever," Armstrong wrote on X on Nov. 5.
Persons: Bernie Moreno, Moreno, Sen, Sherrod Brown, Tom Williams, Donald Trump, Coinbase, Crypto, Marc Andreessen, Ben Horowitz, David Sacks, " Moreno, Brian Armstrong, Fred Ehrsam, Faryar Shirzad, Armstrong, Ehrsam, Coinbase's Armstrong, Gary Gensler, Brown, Elizabeth Warren, FTX, Fairshake, gunning, Republican Jim Justice, Democratic Sen, Joe Manchin, Katie Porter, Porter, he'd, Horowitz, Sacks, Coinbase's Shirzad, Moreno wasn't, Shirzad, David McIntosh, McIntosh, hasn't, JD Vance's, Sam Bankman, Gensler, Andreessen Horowitz, Cameron, Tyler Winklevoss, Ripple, Chris Larsen, JD Vance, Paul Grewal, Jesse Powell, Trump, Phil Potter, Multicoin Capital's Kyle Samani, Fred Wilson, Charles Cascarilla, Mike Belshe, Solana, Anatoly Yakovenko, Wences Casares Organizations: Republican U.S, Cq, Inc, Getty, Democratic, Banking Committee, Public Citizen, Crypto, House, Securities and Exchange Commission, SEC, Senate, Committee, Republicans, Protect, Fairshake, Defend, Jobs, Republican, New, CNBC, Andreessen, Craft Ventures, Club for Growth, Growth, Politico, PAC, Labs, Senate Inc, Trump, Union Square Ventures, Xapo Bank Locations: Republican, Ohio, Holland , Ohio, Cleveland, Coinbase, U.S, Arizona, Michigan, West Virginia, California, Washington, FTX, Nashville , Tennessee
AdvertisementVictoria Goyet, now 76, saw a post about an adult women's camp in France on Instagram. In August 2024, at 75, I attended a six-day summer camp for women in South West France. Related Video INSIDE QUANTICO — how Marine Corps officers survive the 7-month Basic SchoolTravel was a key aspect of my life long before I attended Camp Chateau. AdvertisementI ran across Camp Chateau on Instagram and was interestedIn the fall of 2023, I came across a women's camp in France called Camp Chateau that looked interesting, and decided to go. AdvertisementI had a life-changing realization while journalingOn the last day of camp, I attended a meditative journaling class.
Persons: Victoria Goyet, journaling, you've, Camp, I'm Organizations: Victoria, QUANTICO, Marine Corps, Chateau Locations: France, Instagram, South West France, I'm, Witchita , Kansas, England, Italy, Camp Chateau
This week, Vanity Fair published a bombshell article revealing that Cormac McCarthy, one of the country’s most celebrated and enigmatic novelists, had a relationship with a girl he met when he was 42 and she was 16, a foster child who felt so unsafe at home she often carried a gun and used the pool area at the motel where he was staying to shower. The revelations in the article stunned many fans of the famously inscrutable author, but did not come as a surprise to close friends of McCarthy’s or the tight-knit community of scholars who have studied his life and work. McCarthy’s relationship with Augusta Britt lasted nearly until his death in 2023, and came up in his letters over the years. Dianne C. Luce, who has written several books about McCarthy, said she and another McCarthy scholar, Edwin T. Arnold, learned about McCarthy’s relationship with Britt around 40 years ago, during an interview with a friend of McCarthy’s. Over the years, she saw the relationship come up in the author’s letters to his literary friends, among them Robert Coles, Guy Davenport and Mark Morrow.
Persons: Cormac McCarthy, Augusta Britt, Britt, Dianne C, Luce, McCarthy, Edwin T, Arnold, Robert Coles, Guy Davenport, Mark Morrow
Editor’s note: Sign up for Unlocking the World, CNN Travel’s weekly newsletter. Villages and visasThe Italian village offering $1 homes to Americans upset by the US election result was one of our top stories on CNN Travel this week. Despite all the houses going on offer, working visas to Italy are still very limited. Over in the world of dairy, this year’s World Cheese Awards saw 4,786 cheeses from 47 countries assembled in the Portuguese city of Viseu to face judges’ scrutiny. The US agency might even have to slow air traffic down because of air traffic controller shortages, particularly in the Northeast.
Persons: Zeneba Bowers, Matt Walker, Chelsea Waite, , they’re, CNN Kim Morgan, Tom Latkovic, Lyme, Vang, tarantulas Organizations: CNN, FAA, CNN Travel, Federal Aviation Administration, Northeast . American Airlines, Spirit Airlines Locations: Italy, Sicily, Sardinian, Ollolai, Tennessee, Rome, California, Ham, Parma, Portuguese, Viseu, Kashmir, India, France, United States, Northeast, Europe, Laos, Vang Vieng, Britain
AdvertisementI've lived near Glacier National Park for 35 years and know it can get hectic in the summer months. Montana's Glacier National Park typically sees over 2 million visitors between May and August each year. Although I love taking in the park's beauty in the warmer seasons, this spike in visitation can often lead to long lines to enter the park. However, after living near the park for 35 years, I've discovered the best time to visit is during the less-chaotic winter months. Visiting Glacier National Park in the winter requires a bit more planning, but in my opinion, it's worth it.
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CNN —The discovery of a severed horse head, and a cow quartered with its bloodied dead calf on top, have rattled a Sicilian town, with authorities treating the incident as a mafia threat. “I can’t comprehend such barbarity,” she told local media outlets. It is a tactic that has been used by the notorious Sicilian Cosa Nostra crime syndicate for decades. Organized crime in Sicily has been a problem since the 19th century when the Cosa Nostra was first identified. In 2023, Matteo Messina Denaro, a Sicilan Cosa Nostra mafia boss who had been on the run for 30 years was captured while seeking cancer treatment in Palermo, underscoring the level of complicity that continues to protect and enable criminal enterprises.
Persons: Mafia Directorate’s, Maurizio de Lucia, , , Angela De Lucia, Paolo Borsellino, Giovanni Falcone, Tony Gentile, Ndrangheta, Matteo Messina Denaro Organizations: CNN, Mafia, Nostra, Cosa Nostra, Reuters Locations: Altofonte, Palermo, Sicily, Sicilian, Cosa
AdvertisementVolkswagen is committed to China despite a "ruinous" domestic EV price war, its brand chief says. Volkswagen remains firmly committed to China despite a "ruinous" EV price war by domestic rivals that has hit overseas automakers hard, its boss said. VW group sales in China fell by 12% in the first nine months of this year amid the rising popularity of models made by domestic manufacturers. Toyota maintained its top spot in the world for the fourth consecutive year in 2023, selling 11.2 million vehicles globally — about 2 million more than the VW group. "We build cars in China for China; the same is happening in Europe and North America.
Persons: Thomas Schäfer, Schäfer, Axel Springer, Mary Barra, Wang He, Donald Trump's, Trump, Elijah Nouvelage Organizations: Volkswagen, VW, Welt, Business, General, Rival German, BMW, Mercedes, Benz, Audi, Porsche, Labor, Toyota Locations: China, Germany, Europe, Spain, Czech Republic, Portugal, Slovakia, USA, Mexico, Canada, Chattanooga , Tennessee, North America
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