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The Latest Breaking News from CNBC

Mass layoffs at Goldman Sachs? President John Waldron says "digital agents will be our robots, human assembly lines to be more digitized"

Goldman Sachs is integrating generative AI 'robots' to automate tasks, aiming to boost productivity and cut costs without mass layoffs. President John Waldron stated these digital agents will enhance the firm's 'human assembly line,' creating new tech roles. He clarified recent job cuts are unrelated to AI, attributing them to…

The Economic Times

Cisco stock price today: Why CSCO stock soared 17% after earnings and why Cisco is cutting thousands of jobs - here's what investors need to know

Cisco stock price today after CSCO earnings: Cisco shares soared following a robust earnings report. The networking giant exceeded expectations for revenue, profits, and future guidance. Demand for its artificial intelligence infrastructure business is growing significantly. Cisco also announced workforce reductions to focus on long-term growth areas.

The Economic Times

Kevin Warsh Confirmed As Next Chairman Of The Federal Reserve, Replacing Jerome Powell

The Senate confirmed on Wednesday Kevin Warsh as the next chair of the Federal Reserve, replacing Jerome Powell.

International Business Times

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Congress Ramps Up Its Crusade Against Chinese Cars Ahead of Trump-Xi Meeting

Chinese cars are cheap and widely popular, but Americans can't buy them.

Reason

Wholesale Inflation Jumps 6%, The Highest Increase In More Than Three Years

Wholesale prices saw their highest annual increase in over three years, according to the latest figures.

International Business Times

CPI Report Shows Inflation Surge Spreading Beyond Energy: Food, Rent and Services Climbing Too

Energy costs remain a major driver of inflation, but the April report showed increases across housing, groceries, household goods, jewelry, footwear, and services as well.

International Business Times

Why S&P 500, Nasdaq dropped while Dow Jones gained today - US stock market mixed close explained

S&P 500, Nasdaq and Dow Jones on May 12: US stocks closed mixed as tech momentum cooled amid rising energy prices and fresh inflation data. The S&P 500 and Nasdaq dipped, while the Dow Jones edged higher. West Texas Intermediate crude jumped on US-Iran tensions, and April's CPI rose to…

The Economic Times

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Companies are starting to get refunds from Trump’s tariffs even with prices remaining high

The Supreme Court knocked down some of Trump’s sweeping tariffs, ruling that they were unlawfully imposed

The Independent UK

Senate Confirms Kevin Warsh As Fed Governor, Another Step Toward Becoming Chair

The Senate on Tuesday confirmed Kevin Warsh as governor of the Fed, taking another step towards replacing Jerome Powell as chair of the central bank.

International Business Times

GameStop’s $55.5bn bid for eBay rejected as ‘neither credible nor attractive’

Online marketplace takes into account uncertainty around US video games retailer’s financing proposal

The Guardian - UK

EBay rejects GameStop's audacious $56 billion takeover bid

EBay has rejected a massive $56 billion takeover offer from GameStop. EBay cited doubts about GameStop's financing for the deal. The company is confident in its current growth strategy. GameStop's CEO had proposed cost cuts and synergies.

The Economic Times

Trump Economic Advisor Claims Record Low Consumer Sentiment Is Caused By Stress Of Seeing Too Much Positive Change Too Quickly

The White House attributes record-low consumer confidence to rapid changes under Trump's administration, despite rising petrol prices and tariffs being cited as primary causes by the University of Michigan survey.

International Business Times UK

The EU wants to crack down even further on using US cloud platforms for sensitive government data

US (and other global) hyperscalers could be pushed out of the running for contracts relating to sensitive public sector data.

TechRadar

S&P 500, Nasdaq hit record highs and Dow Jones rises despite soaring oil prices and Trump warning Iran's ceasefire is 'on life support' - here's how US stock market performed on May 11

S&P 500, Nasdaq, Dow Jones today: The S&P 500 and Nasdaq Composite, closed at record highs Monday, driven by continued investment in technology and AI stocks. Despite rising oil prices due to US-Iran tensions and President Trump's rejection of Iran's proposal, markets largely shrugged off geopolitical concerns, focusing instead on…

The Economic Times

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International Business Times

Trump Adviser Says Record-Low Consumer Sentiment Is Basically POTUS' Fault for Caring Too Much

US consumer confidence has reached a record low, driven by high petrol prices and tariffs. Economic pressures are affecting household budgets, with many Americans feeling financially strained.

International Business Times

At Least 11 Hospitalized After Suspected Boat Explosion In Miami

The report identified the boat as a Press Cruiser 400 Express, a 40-foot cabin cruiser called Nauti Nabors.

International Business Times

Trump-Xi Beijing Summit To Focus On Iran Conflict, Trade Tensions

US President Donald Trump and his Chinese counterpart Xi Jinping will meet in Beijing later next week, but the focus of the summit is likely to remain on the Iran war.

The Guardian - US

A 30th season and an $850m franchise: is the WNBA’s rocketing growth sustainable?

Women’s sport is in its high-growth phase. With surging salaries and new – or even revived – teams, the league has plenty to reflect on and to look forward to

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PC Gamer

GameStop-eBay saga gets weirder: CEO says he was suspended from eBay for selling stuff on eBay 'to pay for eBay'

Maybe all of this really is just a very dumb, pointless stunt.

Fortune

eBay bans GameStop CEO's account after he started listing store signs and old carpets to fund his $56 billion offer to buy the marketplace

Michael Burry dumped his GameStop shares over the eBay dealing, warning "never confuse debt for creativity.”

International Business Times

EU Considers Restrictions On U.S. Cloud Providers For Sensitive Government Data

The European Union is weighing new restrictions on the use of U.S.-based cloud providers for sensitive government data as Brussels intensifies efforts to strengthen Europe's control over critical digital infrastructure.

International Business Times

Top Shipping Company CEO Warns Iran War Keeps Raising Costs, Worsening Economic Outlook

The Iran war will continue to disrupt global trade, and its impact is only likely to get worse, the CEO of a major shipping company warned.

Fortune

Vornado CEO Steven Roth 'shocked that our young mayor would pull this stunt' and says Zohran Mamdani should know better than target Ken Griffin

Vornado and Ken Griffin's Citadel are expected to build a $6 billion tower in New York, but Citadel's COO and Roth referenced it may not go through.

International Business Times

U.S. Airlines Saw Jet Fuel Prices More Than Double In March As Iran War Raged

U.S. airlines saw jet fuel prices more than double in March as the war in Iran raged on, according to new data from the U.S. government.

Fortune

ServiceNow just told Wall Street it's going to double again. Here's why $30 billion of revenue isn't crazy

The enterprise software company grew from $3.5 billion to nearly $16 billion in six years. Now it says $30 billion by 2030 is conservative.

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