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The Latest Breaking News from CNBC

The booming business of F1 to be explored in CNBC documentary airing ahead of Las Vegas Grand Prix

Formula One fanatics will get more behind-the-scenes access to the global motorsports series through a new CNBC documentary that explores the business aspects of the highest form of racing in the world

The Independent UK

Bank of America warned consumers they would be pushed to the 'point of pain', CEO Brian Moynihan says we've now reached that point

Brian Moynihan, the CEO of Bank of America, said although consumers are buying less, some families are beginning to spend more than they're bringing in.

Fortune

LVMH boss Bernard Arnault has just lost his spot as the world’s second-richest person to Amazon founder Jeff Bezos

LVMH CEO Bernard Arnault has seen his wealth overtaken by that of Amazon founder Jeff Bezos.

Fortune

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Tragedy strikes Israeli and Palestinian tech workers

From murdered colleagues to bombed-out accelerators, this has been a painful month for tech in Israel and Gaza.

Fortune

Plug Power Struggles As Investor Frustration Grows

Shares of fuel-cell energy company languish despite promising potential, prompting concerns

Zenger

‘Everybody looks back at the oil crisis of 1973, but this is so different’: Experts don’t see disaster ahead—with a big if attached

Daniel Yergin, vice chairman of S&P Global, says the Israel-Hamas war is a "geopolitical risk," but a crisis requires another shoe dropping.

Fortune

American consumers are taking their foot off the spending pedal as bargain prices become rarer, former Walmart US CEO says

Bill Simon, who led the retail giant for four years, said there is one subtle sign that retailers are no longer offering ultra-competitive prices.

Fortune

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Rivian Shares Plunge 23% On Debt Offering, Analysts Divided On Overreaction

Future Fund's Gary Black calls selloff 'way overdone', while CNBC's Jim Cramer expresses concerns

Zenger

Rivian CEO Scaringe Talks Competition And Strong Demand In EV Market

Rivian CEO Scaringe discusses rising competition in EV market and strong demand for their vehicles.

Zenger

McCarthy says hard-right Republican campaign to oust him was ‘personal’ – as it happened

Former House speaker tells colleagues he will not go for the job again; Republican Patrick McHenry takes over as temporary speaker

The Guardian - US

X CEO's chaotic interview wins the spotlight at Code Conference

X CEO Linda Yaccarino had a turbulent interview at the Code Conference owing to the unexpected addition of former Twitter executive Yoel Roth to the schedule.

Fortune

McCarthy rejects Senate spending bill while scrambling for a House plan that averts a shutdown

House Speaker Kevin McCarthy is digging in on his refusal to take up Senate legislation designed to keep the federal government fully running beyond midnight Saturday

The Independent UK

Byron Allen says he’s the best person to buy ABC from Disney because regulators would block Big Tech and private equity. ‘I’m the prettiest girl at the dance’

The founder and CEO of Allen Media Group has offered Disney $10 billion for ABC and other cable assets.

Fortune

Chinese social media censored a top economist for his bearish predictions. He now warns that China's property crisis will take a decade to fix

Hong, now chief economist for a Shanghai-based hedge fund, thinks China would be lucky if the real estate sector halves in size.

Fortune

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Zenger

Biden Administration Forgives $37M In Student Debt For University Of Phoenix Victims

FTC investigation leads to relief for borrowers as Biden's broader debt forgiveness plan faces hurdles.

Chicago Sun-Times

Another ‘cartel wife’ gets 3.5 years for hiding millions in drug money tied to El Chapo’s Sinaloa cartel

The feds pointed out the $2.3 million Valerie Gaytan stashed was generated “through the sale of thousands of kilograms of drugs in the United States ... that harmed individuals and communities in countless ways.”

Zenger

Palantir CEO Urges Tech Companies To Collaborate With Government On AI Initiatives

Alex Karp emphasizes the need for cooperation to mitigate risks and maintain global competitiveness.

Fortune

Musk and Tesla are the 'clear winners' of the Detroit auto strike. Analysts say Elon 'put champagne on ice' as he sees the ultimate EV victory

Analysts say Musk and Tesla are “clear winners” of the strike given the company’s non-union status that lets it continue to pump out cars while Detroit is shut down.

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Fortune

Detroit’s striking auto workers want a 36% pay hike, mostly to cover inflation. Morgan Stanley thinks automakers can afford it

Detroit’s striking auto workers would need a 30% pay hike just to cover inflation, making their demand for a 36% raise seem "fair," one analyst said.

Chicago Sun-Times

In El Chapo fallout, one of Chicago ‘cartel wives’ should get stiffer sentence than accomplices, feds say

They say Valerie Gaytan should get five years for laundering drug money from her husband Margarito Flores and his twin brother Pedro Flores, Chicago cocaine kingpins who helped convict the Sinaloa cartel boss. Her sister-in-law got 3½ years.

Zenger

Jim Cramer ‘Not Convinced’ Tesla’s Dojo Can Rival Nvidia As He Tears Into Morgan’s Stock Upgrade

Tesla, Inc. ran up over 10% on Monday after Morgan Stanley's Adam Jonas upgraded the stock and issued a Street-high price target.

Fortune

Elon Musk’s monopoly over the space race could ‘choke’ the sector if left unchecked, a Lazard investment banker has warned

"I think it’s a huge concern."

Fortune

How Elon Musk lost a friend over AI: Google co-founder Larry Page just 'refused to hang out' after the Tesla CEO stole his top worker

After Musk tried to sabotage Google’s acquisition of DeepMind, he poached one of Page’s most valuable scientists to OpenAI with a $1.9 million salary.

Fortune

‘We're in the first inning of the commercial real estate correction,’ billionaire real estate investor Jeff Greene says

Real estate tycoon Jeff Greene, who bet against the mid-2000s housing bubble and netted about $800 million, says the CRE correction has only just begun.

Fortune

Apple needs to bring the iPhone buzz back

Apple is expected to unveil several models of the iPhone 15, including two high-end iPhone Pros.

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