CNBC News

Federal regulators are poised to impose a $1 billion penalty on Wells Fargo for a variety of alleged misdeeds, including forcing customers to buy auto insurance policies that they didn’t need, according to people briefed on the regulatory action. The expected penalty, levied by the Consumer Financial Protection Bureau and […]

Back when Sylvana Ward Durrett and Luisana Mendoza Roccia were working at Vogue, they realized there was no centralized retailer catering to the growing children’s apparel market. So they created their own. “The market is incredibly fragmented,” Ward Durrett told CNBC’s “Power Lunch” on Thursday. “So you’re shopping here for […]

Former New York City Mayor Rudy Giuliani is joining President Donald Trump‘s personal legal team to help represent Trump in the special counsel’s investigation. White House lawyer Ty Cobb confirmed the news to CNBC. “I’m doing it because I hope we can negotiate an end to this for the good […]

The nation’s largest teacher’s union has ended a promotional program with Wells Fargo, citing the bank’s continued ties to the gun industry. The American Federation of Teachers, representing 1.7 million workers, said it removed the Wells Fargo mortgage program from its member benefits site effective Thursday. The union had attempted […]

President Donald Trump endorsed Republican Rep. Marsha Blackburn in Tennessee’s Senate race on Thursday and committed to campaigning for her. The president’s tweet of support for the congresswoman came a day after outgoing GOP Sen. Bob Corker said he would not campaign against former Gov. Phil Bredesen, the leading Democratic […]

The trick to surviving the current retail disruption may not be as simple as moving your shop online, said former Macy’s CEO Terry Lundgren. Instead, Lundgren said, retailers today need to have a presence in both worlds. “Neither one or the other is the way consumers shop today,” Lundgren said […]

Close allies of John Kasich have reached out to prominent GOP donors to gauge their interest in backing the Republican Ohio governor against President Donald Trump in a possible 2020 showdown, CNBC has learned. Kasich has not decided whether he will run for president in 2020, but Republican mega donors […]

Expect to see more colored tops and denim at Walmart. Workers in a select number of the retailer’s stores are now allowed to wear blue jeans, instead of what used to be just khaki pants or black denim, an internal memo sent around to employees said. They’re also now allowed […]

John Boehner says his “thinking on cannabis has evolved.” The former Republican Speaker of the House announced last week he has joined the advisory board of a marijuana company along with former Massachusetts Gov. Bill Weld saying in a joint statement that “the time has come for serious consideration of […]

In his annual letter to shareholders, Jeff Bezos, Amazon founder and chief executive officer, announced that the company’s Prime service now reaches 100 million members worldwide. The company has also shipped more than five billion items and convinced customers to buy “tens of millions” of Echo devices, he wrote. That […]