Business

U.S. President Donald Trump speaks during a "Save America Rally" near the White House in Washington, D.C., U.S., on Wednesday, Jan. 6, 2021.Bloomberg | Getty ImagesA federal judge on Friday ordered the release of more than 1,800 pages of documents filed by special counsel Jack Smith in the criminal election interference case against former President Donald Trump.The records were made public after U.S. District Judge Tanya Chutkan denied a request by Trump's lawyers to keep them sealed until after the Nov. 5 presidential election.Many of the individual files remain redacted, however.The material, spread over four volumes, appears to largely center on three categories of information: Evidence that has been used in Smith's prior case filings; public information relating to Trump, such as soci...

Anne Neuberger, deputy national security advisor for cyber and emerging technologies, speaks during a news conference in the James S. Brady Press Briefing Room at the White House in Washington, D.C., U.S., on Monday, May 10, 2021 amid the Colonial fuel pipeline ransomware attack.Bloomberg | Bloomberg | Getty ImagesWith ransomware attacks surging and 2024 on track to be one of the worst years on record, U.S. officials are seeking ways to counter the threat, in some cases, urging a new approach to ransom payments.Ann Neuberger, U.S. deputy national security adviser for cyber and emerging technologies, wrote in a recent Financial Times opinion piece, that insurance policies — especially those covering ransomware payment reimbursements — are fueling the very same criminal ecosystems they seek ...

A Feb. 18 rally celebrating the California Labor Commissioner’s order for a McDonald's franchise to rehire and compensate workers who went on strike for coronavirus protections was held on Feb. 18, 2021.Lucy Nicholson | ReutersThis November, voters in at least three states will decide whether or not to raise their state-level minimum wages.If history is any guide, the ballot measures in Alaska, Missouri and California are likely to pass, and lead to bigger paychecks for workers, said Sebastian Martinez Hickey, a state economic analyst at the Economic Policy Institute."Since 2014, 12 states have passed minimum wage increases through ballot measures," Martinez Hickey told CNBC.In many states, he added, "a statewide ballot initiative is the only plausible pathway, because conservative legisla...

Carlos Tavares, chief executive officer of Stellantis NV, speaks to the media at the Stellantis auto manufacturing plant in Sochaux, France, on Thursday, Oct. 3, 2024. Nathan Laine | Bloomberg | Getty ImagesDETROIT — Automaker Stellantis plans to shutter and sell its large vehicle proving grounds in Arizona at the end of this year, CNBC has learned.The decision is the latest cost-cutting measure by the trans-Atlantic automaker under CEO Carlos Tavares, who has been increasingly under pressure from Wall Street, dealers and the United Auto Workers union amid the company's lagging financial performance, layoffs and overall business decisions.The Arizona Proving Grounds covers 4,000 acres between Phoenix and Las Vegas in Yucca, Arizona. It has been used for vehicle testing and development for ...

Earnings next week will be key to where stocks head from here. There will be a significant jump in the number of companies set to report third-quarter results in the days ahead. While roughly one-tenth of S & P 500 companies reported over the past week, about 20% of the broader index plans to report next week. Among the more notable names will be Amazon and Tesla , which will serve as precursors to the big slate of mega-cap results due out the following week. .SPX 5D mountain S & P 500 over five days With the macroeconomic calendar light on major catalysts next week, as well as a general lull expected in anticipation of the U.S. presidential election next month, the earnings results should be the main factor determining whether stocks, which are trading near all-time highs, can go ...

Republican presidential nominee, former U.S. President Donald Trump, addresses the media as he arrives at Detroit Metropolitan Wayne County Airport on October 18, 2024, in Detroit, Michigan. Win Mcnamee | Getty ImagesDonald Trump on Friday dismissed more questions about whether he would release his current medical records, doubling down on refusing to provide a health update even as Kamala Harris works to sow doubts about his fitness for the presidency.The 78-year-old Republican nominee, when asked if he will release his health records, suggested that he has already shared enough information about his medical status."Yeah, my health records – I've done five exams over the last four years. You've got them all," Trump told a reporter on an airport tarmac after landing in Detroit, Michigan, o...

After a siding with the bulls in the run-up to Netflix's latest earnings report, CNBC's Jim Cramer explained why the quarter made him more optimistic about the company's future, saying he was impressed by management's outlook and commentary about content."If you were worried about Netflix not having enough levers to pull in order to generate growth going forward, or at least enough growth to justify the stock's price-to-earnings multiple, I think those concerns have been put to bed by last night's earnings report," he said. "Near-term, the Netflix bears will hibernate, but just remember all these positives when they inevitably come out of their den and try to maul this best-of-breed company with a stock that I think can rock on higher for a long time."Netflix beat Wall Street's expectation...

The U.S. Treasury building in Washington, D.C., on Aug. 15, 2023.Nathan Howard | Bloomberg | Getty ImagesThe Biden administration rang up a budget deficit topping $1.8 trillion in fiscal 2024, up more than 8% from the previous year and the third highest on record, the Treasury Department said Friday.Even with a modest surplus in September, the shortfall totaled $1.833 trillion, $138 billion higher than a year ago. The only years the U.S. has seen a great deficit were 2020 and 2021 when the government poured trillions into spending associated with the Covid-19 pandemic.The deficit came despite record receipts of $4.9 trillion, which fell well short of outlays of $6.75 trillion.Government debt has swelled to $35.7 trillion, an increase of $2.3 trillion from the end of fiscal 2023.One aggrava...

Marquee at the main entrance to BlackRock headquarters building in Manhattan.Erik Mcgregor | Lightrocket | Getty ImagesSALT LAKE CITY — A year ago, Samara Cohen believed there was so much pent-up demand for bitcoin that she and her team at BlackRock launched one of the first-ever spot bitcoin exchange-traded products in the U.S. Now investors are flocking in, and a lot of them are crypto enthusiasts who are new to Wall Street.Cohen, who heads up the asset manager's exchange-traded funds and index investments as chief investment officer, told CNBC that BlackRock now sees the demand was for a better way to access bitcoin. "It was for the ETF wrapper," she told CNBC on stage at the Permissionless Conference in Utah.The total market cap of all eleven spot bitcoin ETFs now tops $63 billion, wit...

A Spirit Airlines aircraft undergoes operations in preparation for departure at the Austin-Bergstrom International Airport on February 12, 2024 in Austin, Texas. Brandon Bell | Getty ImagesSpirit Airlines shares closed at a fresh low on Friday ahead of a looming deadline to refinance more than $1.1 billion in debt.The airline's stock closed down roughly 3%, at less than $1.50 per share.The budget carrier had extended that deadline with credit card processor U.S. Bank to Monday, from a previous date in September.The Miramar, Florida-based airline has furloughed workers, slashed its schedule and deferred aircraft deliveries to save cash over the past year. Many of its planes have been grounded because of a Pratt & Whitney engine recall, it has reported weaker-than-expected bookings and i...