Hunter Biden, the president's son, is grappling with over $10 million in legal fees and is seeking new ways to fundraise for his trial on gun charges, while his father, Joe Biden, has not provided financial assistance, leading Hunter's team to explore potential obstacles in raising money without interfering with his father's re-election efforts.
Approximately 400 Ford employees are being temporarily laid off due to the United Auto Workers' strike, bringing Ford's total layoffs to around 1,330, while General Motors estimates that the strike has cost them $200 million.
CNBC's Jim Cramer believes that the upcoming government jobs report on Friday could potentially trigger a stock market rally, similar to the rebound seen in March, depending on the figures it reveals.
Jim Cramer anticipates a potential stock market rally based on Friday's upcoming nonfarm payroll report, which may influence the Federal Reserve’s decision on interest rates and potentially please the market, although weakness in certain sectors is expected.
Bitcoin (BTC) gained 1.3% over the past 24 hours, with a price of around $27,700, as traditional markets stabilized and crypto markets calmed after Monday's rally, potentially heading towards $30,000, while low volatility is expected to prevail in the coming months.
The Writers Guild of America and the Alliance of Motion Picture and Television Producers have reached an agreement on AI-related protections, giving Hollywood writers significant influence over the use of generative AI tools in television and movie scripts.
Sam Bankman-Fried, a cryptocurrency entrepreneur, is facing charges of fraud as prosecutors depict him as a villain who defrauded thousands of victims while portraying himself as a crypto Robin Hood, with celebrity endorsements from Tom Brady and Larry David.
A Texas county commissioner is facing a felony child abuse charge after accidentally shooting his 12-year-old grandson during a wedding ceremony.
Eleven antiwar protesters were arrested after occupying the office of Sen. Bernie Sanders to demand his support for diplomacy over sending further U.S. aid to Ukraine.
Comcast and Charter Communications have launched Xumo, a streaming joint venture, offering customers a new streaming device called Xumo Stream Box, aimed at retaining their foothold in the pay-TV market.
Despite lower temperatures and high interest rates slowing down home sales in the fall, certain affordable markets, such as Rochester, NY, are experiencing high demand and competitive conditions due to their affordability and lower cost of living.
Former Trump adviser Stephen K. Bannon has been using his podcast studio near the Capitol to stoke chaos within the Republican Party and build his own following, contributing to the party's internal meltdown and the rise of right-wing House rebels.
Meta Platforms, the parent company of Facebook, has partnered with Ray-Ban to create second-generation AI-powered smart glasses that can record, make calls, livestream, and more, with a starting price of $299.
A Black former factory worker for Tesla has lost his bid for a third trial in his race discrimination lawsuit against the company, as the judge upheld the $3.2 million verdict awarded to him by a jury and rejected Tesla's request to reduce the amount.
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Alleged fraudster Sam Bankman-Fried's trial had convicted fraudster Martin Shkreli taking notes on the proceedings using the newly released Elon Musk biography as a hard surface, while Shkreli's appearance followed a bizarre livestream of his walk to the courthouse.
Abercrombie & Fitch has launched an investigation into allegations that its former CEO, Mike Jeffries, exploited men for sex, almost ten years after his employment ended with the company.
President Biden has nominated Hampton Dellinger, an old legal colleague of his son Hunter Biden, to head the US Office of Special Counsel, raising concerns about potential political interference in the investigation into Hunter Biden.
The political dysfunction within the House GOP, including the ouster of former Speaker Kevin McCarthy, is causing concerns for financial markets and adding new risks at a time of heightened fears about inflation, bond yields, and oil markets. The potential for a government shutdown and the delay in electing a new Speaker further compound the worries and could impact consumer confidence and economic data needed by the Federal Reserve to make decisions on interest rates.
The Stellar Development Foundation and PwC have created a financial inclusion framework to evaluate the efficacy of blockchain projects in emerging markets, with the framework revealing that blockchain solutions can significantly improve access to financial products, lower fees to 1% or less, increase payment speed, and help users avoid inflation.
President Joe Biden plans to give a major speech on aid for Ukraine and suggests there may be alternative means to provide support if Congress continues to resist, as Republicans have doubts or openly oppose additional funding for Ukraine's military.
Global strategist Albert Edwards warns that the stock market's strength in 2023, despite the economy-slowing effects of higher interest rates, resembles the conditions leading up to the 1987 Black Monday crash.
The Federal Trade Commission has sued Amazon for allegedly maintaining a monopoly and using a secret algorithm, called Project Nessie, to raise prices and deter competitors from offering lower prices.
Lawyers in the trial against Sam Bankman-Fried presented conflicting narratives, with prosecutors accusing him of stealing billions of dollars from customers, while Bankman-Fried's lawyer argued that his client acted in good faith and made mistakes like any entrepreneur. Witnesses testified about their experiences as investors and their attempts to withdraw funds from Bankman-Fried's crypto empire, FTX.
Wall Street closed higher as the bond market loosened its grip on stocks, with the S&P 500 rising 0.8% and the Dow Jones Industrial Average rising 0.4%; tech stocks helped support the market after a previous decline, while Treasury yields eased and oil prices dropped.
Clorox warns of a significant decrease in sales and profit due to a cyberattack, with expectations of a 23-28% decrease in net sales and a per-share loss of 35-75 cents, as the company continues to assess the impact on future periods.
Popeyes has surpassed KFC to become the second-largest chicken chain in the US, with Chick-fil-A remaining at the top spot.
Negotiators for the United Auto Workers (UAW) and Ford Motor have made progress on pay increases, but significant issues such as pay and union representation at future battery plants remain unresolved, as the ongoing strike against the Detroit Three automakers enters its 20th day.
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Mortgage applications hit their lowest levels in nearly 30 years due to an increase in borrowing costs, forcing potential buyers out of the market and leading to a rise in adjustable-rate mortgages as borrowers search for ways to lower their payments.
Twenty Republican senators have vowed to delay any legislation unrelated to funding the government in an effort to prevent a government shutdown and avoid passing another massive omnibus spending package.
Scientists have developed a machine learning system that accurately predicts the miscibility of polymers and solvents, allowing for the selection and design of solvents for recycling plastic waste.
Google Assistant is set to undergo a significant upgrade with the introduction of Bard, a generative AI technology that will enhance its capabilities by integrating personalized help, reasoning, and generative capabilities to provide proactive and efficient assistance across multiple channels.
Stock indices finished in positive territory, with the Nasdaq 100, S&P 500, and Dow Jones Industrial Average all posting gains, while the energy sector experienced losses; meanwhile, the U.S. 10-Year Treasury yield decreased and the Two-Year Treasury yield also saw a decline. The Factory Orders report showed an increase in new purchase orders placed with manufacturers, beating expectations. The ISM Non-Manufacturing Purchasing Managers' Index indicated a slight contraction in the non-manufacturing sector, and the ADP jobs growth data showed a slowdown in job growth and wages. U.S. Futures opened lower following higher-than-anticipated JOLTs jobs opening data. Asian markets ended mixed, while European indices traded in the red.
Google is incorporating AI technology to help users set up automations in their smart homes, condensing notifications into summaries and suggesting automations based on recognized events.
London-based cocoa broker Marc-Antoine Julliard testified in the criminal case against former FTX CEO Sam Bankman-Fried, stating that he was unable to withdraw 4 Bitcoin worth $80,000 from FTX in November 2022 after a Twitter post from Bankman-Fried reassured users about their assets; witnesses including former FTX executives and Anthony Scaramucci are also expected to testify.
The upcoming Season of Blood in Diablo Immortal will introduce new endgame activities, increased experience gains, and the ability to specifically target unique and uber unique items.
Investors and consumers should evaluate their options to preserve and grow wealth in the face of a simultaneous drop in both the stock and government bond markets, high borrowing costs, and the potential for political instability.
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Bitcoin's bull market is expected to reignite as the Federal Reserve is predicted to resume printing money, leading to a surge in Bitcoin's price, according to BitMEX founder Arthur Hayes.
Diablo IV will be available to play on Steam starting October 17, offering a new platform for players to enjoy the game and connect with friends while retaining cross-platform play and access to specific Steam features.
The United States government has added a staggering $275 billion in debt in just 24 hours, contributing to the country's already significant $33 trillion national debt, sparking concerns about its ability to pay essential services and outstanding bills with foreign entities, which could potentially benefit Bitcoin in the long run as it tends to perform well when global liquidity increases.
China's economic growth this year may be as low as 2 percent, half of what the International Monetary Fund predicts, due to problems in the property sector, weak foreign direct investment, and other structural issues, according to Daniel Rosen of the Rhodium Group. The IMF has forecasted 5.2 percent growth for China, but Rosen believes growth above 3 percent is unlikely in the medium term. Additionally, concerns are rising that China's economic challenges could hinder global growth.
Cannabis producer Tilray reported a 15% increase in net revenue, reaching $177 million in its fiscal first-quarter, as it expands into the beer industry and strengthens its market position in Canada.
Semiconductor connectivity solutions firm Astera Labs, backed by Intel's venture arm, is reportedly preparing for an initial public offering with the assistance of investment banks Morgan Stanley and JPMorgan Chase, aiming to facilitate the mainstream adoption of artificial intelligence and machine learning.
The Mortgage Bankers Association's index of mortgage applications fell to a nearly three-decade low as consumer demand cooled sharply due to a surge in mortgage rates.
AI will surpass the industrial revolution, according to a leading AI executive.
CNBC LLC, a division of NBCUniversal, provides real-time global business and financial news, stock quotes, and market data analysis.
Mounting political chaos in America has created uncertainty for Ukraine as their supply of money and weapons from the US is threatened, leaving Ukrainian officials concerned and scrambling for solutions.
The spread between the two-year and 10-year Treasury bonds is narrowing, indicating a potential recession on the horizon.
The latest iOS 17 patch aims to resolve overheating problems on the iPhone 15 Pro, which has caused concerns among users and led to jokes about installing aftermarket cooling fans on the device.
House Republicans are in uncharted territory as they search for a replacement for Rep. Kevin McCarthy as speaker, with Reps. Jim Jordan and Steve Scalise both announcing their plans to run for the position.
Tesla stock surged 5.2% and cleared its 50-day line after investors showed optimism for a fourth-quarter rebound in deliveries and the launch of the Cybertruck, despite analysts cutting third-quarter EPS estimates ahead of Tesla's Q3 earnings.
