CNBC

Swedish battery maker Northvolt filed for Chapter 11 bankruptcy protection in the U.S., delivering a hard blow to Europe's electrification ambitions. Once one of Europe's most valuable privately held tech firms, the company on Thursday said the voluntary bankruptcy move will allow it to restructure its debt, scale back its business and secure a sustainable foundation for its continued operation. The firm noted it would continue functioning as normal during the restructuring process, which is expected to finalize in the first quarter of next year.

The Indonesian government expects Apple to increase its proposed $100 million investment into the country, according to state media, as the iPhone maker seeks clearance from Jakarta to sell its latest phones. The American tech giant's latest smartphone model doesn't meet Indonesia's 40% domestic content requirements for smartphones and tablets and hasn't been granted clearance to be sold in the country. The purpose of the ban is to protect local industry and jobs, with officials asking Apple to increase its investments and commitments to the economy in order to gain greater access.

In an environment of high valuations, one of two "catalysts" could cause a market correction. That's according to Brian Arcese, portfolio manager of the Singapore-based Foord Asset Management, who said markets have been "expensive for quite a while" — the S&P 500 is up about 23% in the year to date. It has a price-to-earnings ratio above 27, and some have described it as expensive by almost every measure. "We do think that a correction would be healthy, but you will need some type of catalyst for that correction to take place. I think it could be one of two things," he told CNBC's "Squawk Box Asia" this week.

New research from the World Travel & Tourism Council says tourism GDP levels in North America and Latin America will fully recover by the end of 2023.

Bringing people together, showing determination and being a good listener are some of the qualities younger generations look for in leaders. That's according to Generation Z and millennial participants at the One Young World summit in Montreal, Canada. "It's essential that, when leaders are at the forefront, they are acting upon the interests of the people, and not the interest of themselves or of a small group," according to Sue Whisky, CEO and founder of sustainability organization Environmental Network Malawi, who spoke to CNBC's Tania Bryer at the summit in September.

BEIJING — Time is running out for traditional foreign automakers to adapt to China's electric car market, signaling to industry analysts that companies must double down on local partnerships to survive. Fossil fuel-based automakers have struggled to hold their ground in the world's largest car market, which has swiftly transformed into one where new energy vehicles now account for more than half the country's car sales. If the foreign brands "can't launch competitive clean energy vehicles in the China market soon, the only hope for salvaging any market share is likely via partnership with a domestic player," said Tu Le, founder and managing director of Sino Auto Insights.

National Geographic released its annual "Pictures of the Year" issue this week, showcasing 20 photographs — out of some 2.3 million in contention — that depict striking scenes of nature, wildlife and human connection to the world. Here are CNBC's picks of the best of the best.

As the president of the National Bureau of Economic Research, MIT economist James Poterba helps determine when a recession officially starts and ends.

Stopovers break up the distance. But there are pros and cons to scheduling short trips in cities like Seoul, Bangkok, Dubai and Singapore.

Japan's headline inflation rate slipped to 2.3% in October, its lowest level since January and down from the 2.5% seen in September. The core inflation rate, which excludes fresh food prices, came in at 2.3%, down from September's 2.4%. The figure however, was slightly higher than the 2.2% expected among economists polled by Reuters. Japan's central bank has long stated that its goal is a "virtuous cycle between wages and prices." A weak inflation reading could therefore mean that the bank would still need to maintain an easy monetary policy stance.