It wasn’t exactly a happy Friday. The major averages ended trading deep in the red as mounting worries around slowing global growth and a potential recession gripped Wall Street. The S&P 500 saw its worst daily performance in two months. Experts are split on what investors should do next, and […]
CNBC News
Here’s how Trump decided to nominate Stephen Moore to the Fed – and what it means for Jerome Powell
President Donald Trump decided to choose Federal Reserve skeptic Stephen Moore for the central bank’s board after a discussion about a column in which Moore argued the Fed is stifling economic growth, a senior administration official told CNBC on Friday. Earlier Friday, Trump said he would nominate Moore, a visiting […]
Tyson recalling nearly 70,000 pounds of chicken strips after a report of metal pieces
Tyson Foods is recalling over 69,000 pounds of its ready-to-eat chicken strips after two consumers complained of finding metal in their meals, according to the U.S. Department of Agriculture’s Food Safety and Inspection Service. The frozen strips were produced Nov. 30, 2018, and have “best by” dates of Nov. 30, […]
Video-conferencing company Zoom files for IPO with over $300 million in sales and even a profit
Zoom, which provides video-conferencing software that can be used across devices, filed its IPO prospectus on Friday, joining a crop of Bay Area start-ups preparing to hit the public markets. Unlike most tech companies at this stage, Zoom is profitable. In the fiscal year that ended Jan. 31, Zoom had […]
Putin’s missile with ‘unlimited’ range is too expensive and has yet to fly farther than 22 miles
WASHINGTON – Russian President Vladimir Putin bragged a year ago that his country had a new nuclear-powered missile with unlimited range. But the Kremlin will only produce a few of them because the weapon has yet to complete a successful test and is too expensive to develop, according to sources […]
Robert Mueller’s report is finally finished. Here’s what we know about his probe so far
Special counsel Robert Mueller completed his Russia investigation and delivered his highly anticipated report to Attorney General William Barr on Friday. For nearly two years, Mueller has been investigating Russian meddling in the 2016 presidential election and whether the then-candidate Donald Trump‘s campaign colluded with the Kremlin. Despite endless media […]
Apple is keeping partners in the dark about how it plans to package and price its video service
Apple is going to announce its new video streaming service plans at an event in Cupertino, Calif., on Monday, March 25. Over the past few months, CNBC has reported many details on Apple’s plans. But the big open question is the pricing, and whether there will be any discounted bundles […]
March Madness makes enough money to nearly fund the entire NCAA — here’s how
March Madness is one of the biggest events in American sports. Sixty-eight college teams get invited to the Big Dance, but by early April, there’s only one team left. The tournament may be about upsets, underdogs and uplifting narratives, but it’s also about the money. The NCAA’s Division I men’s […]
The Fed’s policy switch may be too late to save the economy from fading
The Federal Reserve’s policy pivot this week may be too late to save an economy that is suddenly struggling to avoid grinding to a halt. For the first time since before the financial crisis, short-term government bonds are yielding above their longer-duration counterparts, a tell-tale recession sign called an inverted […]
The 10 cities where American families have the most credit card debt
In 2018, total credit card debt in the U.S. reached a high of more than $1 trillion, according to data from the Federal Reserve. As of 2019, individual households hold an average amount of nearly $9,000 each in credit card debt, financial website WalletHub reports, using data from the U.S. […]