Facebook Chairman and CEO Mark Zuckerberg testifies at a House Financial Services Committee hearing in Washington, October 23, 2019. Erin Scott | Reuters State attorneys general are preparing to file an antitrust lawsuit against Facebook as soon as next week, sources familiar with the matter told CNBC’s Ylan Mui. At […]
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Jobless claims hit pandemic-era low as hiring continues even with rising Covid cases
New jobless-claim filings last week reached their lowest level of the pandemic crisis, providing a sign that hiring is continuing if at a slower pace. First-time claims for unemployment benefits totaled 712,000 last week, compared with 787,000 a week earlier and the Dow Jones estimate of 780,000, the Labor Department […]
The coronavirus pandemic has caused a surge in demand for contactless payments, accelerating the shift from cash to digital options
The Covid-19 pandemic is expected to cause a drastic decline in cash usage due to the risk of contamination. “Over the past six to eight months, we’ve seen the use of cash decline even further, and that’s a trend I think that we’re going to see continue,” said Jodie Kelley, […]
Warren Buffett’s Berkshire Hathaway will hold its May annual meeting virtually again
Warren Buffett during an interview with CNBC’s Becky Quick on February 24, 2020. Gerry Miller | CNBC Berkshire Hathaway said Thursday it will hold its annual shareholder meeting virtually in May. “Unfortunately, we do not currently believe it will be safe at that time to hold a meeting with nearly […]
Christie’s is selling a collection of Supreme ‘box-logo’ T-shirts for about $2 million
The most complete collection of Supreme T-shirts is being offered for sale at Christie’s for about $2 million, highlighting the soaring value of the luxury streetwear brand and the growing importance of a new generation in the collectibles world. The T-shirt collection is the only complete set of Supreme’s “box-logo” […]
Stocks making the biggest moves in premarket: Express, Tesla, Snowflake, CrowdStrike & more
Check out the companies making headlines before the bell Thursday: Express (EXPR) — Shares of Express tanked 25% after the retailer reported a wider-than-expected earnings loss. Express said it lost $1.39 per share in the third quarter, versus an estimated loss of 51 cents per Refinitiv. Its revenue also missed […]
Deadlocked on oil production cuts, OPEC and its allies to resume talks
Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman Al-Saud speaks via video link during a virtual emergency meeting of OPEC and non-OPEC countries, following the outbreak of the coronavirus disease (COVID-19), in Riyadh, Saudi Arabia April 9, 2020. Saudi Press Agency | Reuters LONDON — OPEC and non-OPEC allies […]
Warp Speed official urges patience on Covid vaccine: ‘We are not going to turn anybody away’
Operation Warp Speed’s director of supply production and distribution put out an estimated timetable on Covid-19 vaccine availability across the United States. In an interview on CNBC’s “The News with Shepard Smith” on Wednesday evening, Lt. Gen. Paul Ostrowski (Ret.) assured that everyone who wants a vaccine would be able […]
‘This is going to be challenging:’ How the UK will roll out Pfizer’s coronavirus vaccine
A nurse prepares to administer a flu vaccination to a man. NurPhoto | NurPhoto | Getty Images The U.K. was the first country in the world to approve Pfizer and BioNTech’s groundbreaking coronavirus vaccine on Wednesday for widespread use. In a way, that was the easy part. Now, it has […]
JD.com’s digital health-care unit raises $3.5 billion in Hong Kong IPO
Several boxes of goods, bought from JD.com, are stacked on the floor. Zhang Peng | LightRocket | Getty Images GUANGZHOU, China — JD Health, the health-care unit of Chinese e-commerce giant JD.com, has raised $3.5 billion in a Hong Kong initial public offering (IPO), CNBC has confirmed. The company issued […]