Here’s what Sam Bankman Fried said in his first full day on the stand in his $8 billion fraud trial
October 28, 2023
Sam Bankman-Fried, the founder of failed crypto exchange FTX, took the stand in New York on Friday in his criminal trial
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Dow drops more than 350 points to end brutal week, S&P 500 closes in correction territory: Live updates
October 28, 2023
The three major averages are on pace for weekly declines.
These stocks reporting next week typically beat the Street and rally
October 28, 2023
Nearly 30% of the S&P 500 is reporting earnings next week. The following stocks have a history of beating estimates.
Amazon shares jump as analysts praise third-quarter results
October 28, 2023
CEO Andy Jassy has been in cost-cutting mode to address high levels of inflation and rising interest rates over the past year.
A-Rod regrets not investing in Amazon, Microsoft or Starbucks in the ’90s: ‘I wouldn’t have to work so hard today’
October 28, 2023
At the start of his baseball career, Alex Rodriguez made millions in Seattle — home of Amazon, Microsoft and Starbucks during the 1990s dot-com boom.
What China’s slow-motion real estate crisis means for the global economy
October 28, 2023
China's property industry is collapsing in slow motion, with indebted major developers, and the IMF has cut growth forecasts, citing the sector as a big reason.
Spirit Airlines halts new pilot, flight attendant training after difficult quarter, Pratt engine issue
October 28, 2023
A Spirit Airlines memo said new pilot and flight attendant training would be suspended next month "until further notice."
The Federal Reserve may not hike interest rates next week, but consumers are unlikely to feel any relief
October 28, 2023
The Federal Reserve is expected to announce no rate hike at the end of its two-day meeting next week. Here's what that means for your wallet.
GM, UAW may be nearing a labor deal after marathon negotiating session
October 28, 2023
General Motors and the United Auto Workers could be close to a deal to end a weekslong strike, after Ford and the union reached an agreement earlier this week.
Achieving the ‘American dream?’ A lot of it depends on where you grow up
October 28, 2023
Intergenerational mobility is falling in the U.S. — and when and where a child grows up can determine their future income.
European stocks close lower as investors assess global data, earnings; Sanofi falls 19%
October 28, 2023
European stocks closed lower on Friday, with earnings and the state of the global economy keeping sentiment on edge.
Key Fed inflation gauge rose 0.3% as expected in September; spending tops estimate
October 27, 2023
The core personal consumption expenditures price index was expected to increase 0.3% in September.
Taylor Swift has reportedly entered her billionaire era with success of Eras Tour
October 27, 2023
The 33-year-old is now worth $1.1 billion, according to Bloomberg News.
Russia hikes key rate to 15% in bigger-than-expected rise
October 27, 2023
"Current inflationary pressures have significantly increased to a level above the Bank of Russia's expectations," the bank said in a statement.
Global bond rout looks ‘tremendously dangerous’ for stocks, hedge fund manager warns
October 27, 2023
An intensifying bond rout is creating a "tremendously dangerous" outlook for global equities, according to Livermore Partners' CIO.
Saudi Arabia is serious about its Jan. 1 deadline for companies to move regional headquarters to Riyadh — or lose out on government contracts
October 27, 2023
It's holding on to its ultimatum that foreign firms need to base their regional headquarters in the kingdom or be barred from lucrative government contracts.
Bank of Japan policymakers are meeting next week. Here’s what you need to know
October 27, 2023
While BOJ has a penchant for surprise, it's cautious about unwinding its super easy monetary policy, wary that premature moves would jeopardize nascent improvements.
The NBA is back and expanding its global reach. Here’s how
October 26, 2023
As international interest in NBA games rises to record levels, the league is exploring new ways to cater to its global fans.
S&P 500 tumbles to the lowest since June, Nasdaq heads for worst day since February: Live updates
October 26, 2023
Tech stocks struggled on Wednesday as Wall Street parsed the latest slate of quarterly results while Treasury yields surged.
Israel-Hamas war live updates: Netanyahu says Israel is preparing a ground invasion; fuel and other supplies run dangerously low in Gaza
October 26, 2023
The Israel Defense Forces insist that fuel is present in Gaza, but that Hamas is monopolizing it.
Trump takes witness stand, fined $10,000 over latest gag order violation in fraud trial
October 26, 2023
Donald Trump will get another chance to stare down Michael Cohen, his former personal attorney, in court, as Cohen testifies in Trump's fraud trial.
Jefferies analyst says Microsoft can take cloud market share away from Amazon
October 26, 2023
Brent Thill believes Microsoft has the upper hand in taking cloud market share, which should also help the firm's artificial intelligence story.
Mike Johnson elected House speaker, putting Louisiana Republican in the spotlight
October 26, 2023
Mike Johnson was elected unanimously by the 220 Republicans who voted, despite being the fourth nominee tapped by the fractious conference in two weeks.
How to play Alphabet’s stock after its worst slide in more than a year, according to Wall Street
October 26, 2023
Wall Street weighs in on Alphabet's cloud disappointment and what it means for the Google parent's shares.
Amazon’s focus on speed, surveillance drives higher warehouse worker injuries, study finds
October 26, 2023
Amazon warehouse workers are suffering physical injuries and mental stress on the job due to Amazon's focus on speed and pervasive surveillance, per a study.
Meta to report third-quarter earnings after the bell
October 26, 2023
Wall Street is expecting Meta to show accelerating revenue growth after a tough stretch for the company's advertising business
Boeing cuts 737 Max delivery forecast as production issues dent third-quarter results
October 26, 2023
Boeing also posted a wider-than-expected loss for the third quarter.
Sam Bankman-Fried to testify in FTX fraud trial, attorney says
October 26, 2023
The maneuver puts Bankman-Fried on the stand to tell the story from his own perspective, but also opens him up to examination by federal prosecutors.
GM, Honda scrap plans to co-develop ‘affordable’ sub-$30,000 EVs
October 26, 2023
The cancellation by GM and Honda is the latest in a growing number of decisions by automakers to scale back or scrap previously announced EV plans.
Alphabet’s stock is having its worst day in a year after cloud revenue missed estimates
October 26, 2023
Google's Cloud revenue miss came in stark contrast to Microsoft's earnings, which showed accelerated growth in its Intelligent Cloud business.
Hurricane Otis batters Acapulco before weakening over southern Mexico
October 26, 2023
Hurricane Otis slammed into Mexico's southern Pacific coast as a Category 5 hurricane early Wednesday, bringing dangerous winds and heavy rain to Acapulco.
Saudi Arabia is working with partners to de-escalate unrest in the region, minister says
October 26, 2023
The United Nations and numerous countries have called for a cease-fire between Israel and Hamas, so far to no avail.
Apple raises price of Apple TV+ to $9.99 a month
October 25, 2023
The price increases will also hit Apple's Arcade, News+
‘They’re running out of time’: Ukraine’s counteroffensive is gaining urgency as winter approaches
October 25, 2023
Ukrainian forces are desperately trying to battle through deep Russian defenses along the south and east of the country before winter sets in.
Why Exxon and Chevron are doubling down on fossil fuel energy with big acquisitions
October 25, 2023
Exxon and Chevron's recent acquisitions show that despite global decarbonization pushes, the energy transition is likely to be long and slow.
Messaging app Telegram blocks Hamas channels on Android as conflict rages on
October 25, 2023
Telegram blocked access to the official channel of Hamas and the Al-Qassam brigades, its military wing, for Android users, CNBC verified Wednesday.
Israel envoy calls for resignation of UN chief who said Hamas attack ‘did not happen in a vacuum’
October 25, 2023
Israel's ambassador to the U.N. called for the resignation of the organization's secretary-general, Antonio Guterres, following his remarks on the Israel-Hamas conflict and action in Gaza.
IMF chief says Israel-Hamas war is a new cloud on the world’s economic horizon
October 25, 2023
The head of the IMF on Wednesday dubbed the worsening Israel-Hamas conflict as another cloud on the horizon of an already gloomy economic outlook.