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The Latest Breaking News from CNBC

Millennials buy abandoned high school and turn it into 31-unit apartment building

The building now has 27 one-bedroom and four two-bedroom apartments.

The Independent UK

Musk actively seeking new CEO after losing poll, CNBC says

Elon Musk is actively searching for a new chief executive officer for Twitter Inc., CNBC’s David Faber reported, after the billionaire lost a straw poll he posted on the social media site that asked users whether he should relinquish his role as head of the company.

Tribune News Service

NBC Sports reveals 80-plus hours of coverage for IMSA in 2023

The full on-screen schedule for the IMSA WeatherTech SportsCar Championship has been revealed today by NBC Sports, with coverage across NBC, Peacock and USA Network.

Motorsport

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Women and men ask for raises the same amount. Men get them more often.

Men’s outsize ability to nab raises is a particularly bad look, given how poorly women are paid to begin with—per the Census Bureau, an estimated 82 cents on the man’s dollar.

Fortune

Shaq distances himself from crypto, despite once being a paid spokesperson for FTX

“A lot of people think I’m involved, but I was just a paid spokesperson for a commercial,” O’Neal said, referring to his association with the failed cryptocurrency exchange FTX.

Fortune

Ford Adds Third Shift At F-150 Lightning Plant Amid "Huge Demand"

Ford's Rouge Electric Vehicle Center is now running three rotating crews of workers on 10-hour shifts seven days a week to maintain a high level of production.

InsideEVs

Rivian Pauses Electric Van Project Planned With Mercedes In Europe

CEO said Rivian is pursuing "the best risk-adjusted returns" on its capital investments and focusing on its existing consumer and commercial businesses.

InsideEVs

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Crypto.com's name is all over the 2022 World Cup. Will it be around for the next one?

Crypto.com issued a report to reassure customers and the public its finances are just fine. Is that enough?

Fortune

WNBA star Brittney Griner is headed to Texas medical facility upon release

WNBA star Brittney Griner is headed to a medical facility in San Antonio following her release Thursday from a Russian prison in a dramatic, high-level prisoner swap, according to CNBC.

Tribune News Service

Senate Banking Committee: Sam Bankman-Fried will be subpoenaed if he doesn’t agree to attend FTX hearing

After weeks of waffling, the disgraced FTX founder faces an ultimatum.

Fortune

SEC Chair says the 'runway is getting shorter' for crypto companies

The Securities and Exchange Commission chair said “the runway is getting shorter” for crypto companies.

Fortune

Kyrie Irving's partnership with Nike is officially terminated

Following an initial suspension a month ago, Nike has now terminated its contract with Irving over his antisemitic social media posts.

WEKU

HBO Max is about to get an even worse name

In the wake of the tumultuous Warner Bros. and Discovery merger, the relatively new streaming service is getting a makeover.

Inverse

Musk supports idea of SBF going to jail over FTX collapse

Both the Department of Justice and the SEC are reported to be investigating FTX's downfall.

Fortune

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Salon

Epstein estate settles for $105 million

In addition, the Virgin Islands will claim half of the funds from the sale of Epstein's island, Little St. James

Fortune

The man who correctly predicted Bitcoin's drop to $20,000 just said it could fall another 40% next year

Billionaire investor Mark Mobius, a long-time crypto skeptic, has a prediction Bitcoin enthusiasts might not like.

The Independent UK

South Dakota governor bans TikTok from state agencies over ‘intelligence gathering’ concerns

TikTok is owned by ByteDance, a Beijing-based privated tech giant

Fortune

Energy CEO says markets should brace for 'one or two years of extreme volatility'

The head of one of Europe’s largest energy companies says turmoil is far from over, and European nations should start thinking ahead.

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Fortune

Top economist Mohamed El-Erian says inflation could get 'stuck' at an uncomfortably high number because of supply chain issues and a 'change in globalization'

Mohamed El-Erian says that inflation may get stuck at 4% as the global economy goes through a “profound” shift—and warns investors not to fall in love with the “short and shallow” recession theory.

Los Angeles Times

Disney shares jump after Bob Iger returns as CEO

Wall Street says you can go home again, as shares of Walt Disney Co. spiked Monday on the news that Bob Iger is returning as chief executive of the media and entertainment company.

Fortune

What will happen to nearly a third of SkyBridge Capital? Here's how 'The Mooch' could get back his company

Less than two weeks ago SBF and Scaramucci embarked on a fundraising trip together in the Middle East. Now, nearly a third of Scaramucci's firm is tied up in bankruptcy proceedings.

Fortune

The bear market will end early next year and create a 'terrific buying opportunity,’ Morgan Stanley’s Mike Wilson says

Wall Street's top strategist Mike Wilson says there's a buying opportunity on the way, but the path to get there is going to be "really tricky."

Fortune

Congress will be taking a closer look at Sam Bankman-Fried’s political spending spree

The former FTX CEO became the Democratic party’s top donor apart from George Soros during the last election cycle.

Los Angeles Times

Returning Disney CEO Bob Iger announces plans for sweeping overhaul

LOS ANGELES — Walt Disney Co.'s returning chief executive, Bob Iger, wasted no time putting his stamp on the company, announcing plans for a major overhaul of the Burbank entertainment giant.

Fortune

Why did Disney replace CEO Bob Chapek?

Chapek's tenure as CEO came with public missteps, poor earnings, and a fight over Florida's "Don't Say Gay" law.

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