Flags with the logo, lettering of the Chinese telecommunications company Huawei blowing in the wind. Horst Galuschka | picture alliance via Getty Images The U.S. Department of Commerce is close to signing off on a new rule that would allow U.S. companies to work with China’s Huawei Technologies on setting […]
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Pentagon officials slam FCC’s Ligado 5G decision, citing national security risks
US Space Force General John Raymond testifies during the Senate Armed Services Committee hearing on the impact of the Federal Communications Commission’s Ligado Decision on National Security on Capitol Hill in Washington, DC on May 6, 2020. Greg Nash | POOL | AFP via Getty Images WASHINGTON — Pentagon officials […]
Coronavirus live updates: Brazil posts record daily new cases, American Airlines requires staff to wear masks
This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. This blog will be updated throughout the day as the news breaks. Global cases: More than 3.74 million Global deaths: At least 263,000 Most cases reported: United States (1,227,430), Spain (220,325), Italy (214,457), United Kingdom (202,356), France (174,224). The […]
Treasury Secretary Mnuchin gets in Twitter tiff with Axl Rose
Slash and Axl Rose of Guns N’ Roses perform onstage in Madison Square Garden last October. Kevin Mazur | Getty Images Treasury Secretary Steven Mnuchin challenged hard rock musician and Guns N’ Roses member Axl Rose on Twitter Wednesday evening. The Treasury secretary, who oversees the debt issuance and fiscal […]
Investor fear of missing out is ‘not a good sign’ for markets, warns Morgan Stanley
The fear of missing out has played a role in recent market movements but that’s “not a good sign,” according to Andrew Harmstone, head of global balanced risk control strategy at Morgan Stanley Investment Management. “The fear … of missing out, or another term for that traditionally has been greed, right? […]
Doctors lambaste federal process for distributing Covid-19 drug remdesivir
Hospitals and physicians around the country are sharply criticizing the federal government for the uneven and opaque way it is distributing its supply of the Covid-19 drug remdesivir. The experimental drug received an emergency use authorization from the Food and Drug Administration last week, after preliminary data from a clinical trial showed that it […]
Coronavirus live updates: Trump contradicts nurse over PPE, Costco sees drop off as customers stay at home
6:48 pm: Carvana not immune to Covid-19 impact Shares of Carvana tumbled double digits during after-market trading after the auto retailer reported a net loss of $183.6 million for the first quarter. Shares of the used-car e-commerce platform fell by about 11% before recovering to about $83.45, down 8.5%. The stock […]
Facebook, Alphabet and Amazon are in a ‘three-horse race’ in advertising, Jim Cramer says
The three largest internet companies effectively control the advertising space after gobbling up more market share and reporting “truly blowout [ad] numbers” last quarter, CNBC’s Jim Cramer said Wednesday. “They’ve now pulled away. Advertising is once again a three-horse race, just like when I was a kid … when it […]
California’s recovery from the coronavirus will take ‘longer than people think,’ Gov. Gavin Newsom says
Gavin Newsom, governor of California, speaks during a news conference in Sacramento, California, on Tuesday, April 14, 2020. Rich Pedroncelli | AP | Bloomberg via Getty Images California’s economic rebound from the coronavirus may take longer than people may think as the state struggles with record “Depression-era” unemployment numbers, Gov. […]
Carvana shares tumble double digits on first-quarter losses
Ernie Garcia, CEO, Carvana Scott Mlyn | CNBC Shares of Carvana tumbled double digits during after-market trading following the auto retailer reporting a net loss of $183.6 million during the first quarter. The company’s loss widened by 122.3% compared to it losing $82.6 million during the first quarter of 2019. […]