Carsten Rehder/picture alliance via Getty Images YouTube announced Tuesday a $100 million fund that will pay the most popular creators on its nascent TikTok competitor, Shorts. “The Shorts Fund is just the first step in our journey to build a long-term monetization model for Shorts on YouTube,” the company said […]
CNBC News
Dow falls more than 400 points amid broad sell-off, S&P 500 slides 1%
The market rout intensified on Tuesday as selling in higher-priced technology shares spilled over to everything from bank stocks to energy and industrials. The Dow Jones Industrial Average slid 430 points, led by declines in Home Depot and Boeing. The blue-chip benchmark is now on pace for its worst day […]
Virgin Galactic stock falls in heavy trading amid uncertainty of spaceflight test schedule
Virgin Galactic’s spacecraft outside Spaceport America in New Mexico. Virgin Galactic Virgin Galactic stock dropped amid heavy trading volume on Tuesday, with the company’s next spaceflight test – and its broader path to beginning commercial flights – possibly delayed further. The space tourism company gave an update on progress toward […]
Uber and Lyft will offer free rides to vaccination sites in White House partnership
A Lyft logo is installed on a Lyft driver’s car next to an Uber sticker in Pittsburgh. Gene J. Puskar | AP Uber and Lyft will offer free rides to vaccination sites until July 4 as part of new White House partnership, the Biden administration announced on Tuesday. “By helping […]
Stanley Druckenmiller says the Fed is endangering the dollar’s global reserve status
Federal Reserve policies aimed at keeping markets and the economy afloat during the pandemic could end up threatening the long-term health of the U.S. dollar, investing magnate Stanley Druckenmiller told CNBC on Tuesday. The chairman and CEO of Duquesne Family Office said the Fed’s insistence on holding interest rates down […]
Nasdaq sheds another 1% as Big Tech sell-off intensifies, Dow drops more than 300 points
U.S. stocks fell for a second day on Tuesday as the rotation out of relatively higher-priced technology shares intensified. The tech-heavy Nasdaq Composite lost 1.2%. The S&P 500 traded 1.1% lower, while the Dow Jones Industrial Average slid 340 points. Big Tech stocks were all in the red once again […]
As the U.S. economy restarts from the pandemic, parts of it are severely broken
A worker operates a forklift to move bundles of Hampton lumber for a shipment order at Burton Lumber in Salt Lake City, Utah, on Thursday, May 6, 2021. George Frey | Bloomberg | Getty Images The U.S. economy is trying to restart its engine after tumbling into its deepest recession […]
Palantir reports 49% revenue growth for its first quarter
Peter Thiel, co-founder and chairman of Palantir Technologies Inc., pauses during a news conference in Tokyo, Japan, on Monday, Nov. 18, 2019. Kiyoshi Ota | Bloomberg | Getty Images Palantir, the maker of software and analytics tools for the defense industry and large corporations, reported 49% revenue growth for its first […]
Pipeline shutdown could push prices at the pump above $3 a gallon, highest since 2014
A store clerk posts a sign at a Marathon gas station in Elizabethtown, North Carolina, U.S., on Monday, May 10, 2021. Andrew Sherman | Bloomberg | Getty Images Gas prices could rise to their highest level since 2014 as portions of the Colonial Pipeline remain shutdown. The national average for […]
L Brands to spin off Victoria’s Secret by August, hoping to nab higher valuation
Shoppers pass in front of a Victoria’s Secret store at a mall in San Diego, California, April 22, 2021. Bing Guan | Bloomberg | Getty Images L Brands said Tuesday it will spin off its Victoria’s Secret brand rather than selling it. The company said it received interest from and […]