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Economy

U.S. Steel CEO appeals to Trump after Biden blocks deal with Japanese firm

January 9, 2025

The chief executive of U.S. Steel appealed directly to President-elect Donald Trump to take a second look at a Japanese company’s $15 billion deal to buy the American steelmaker. President Joe Biden blocked the deal between U.S. Steel and Nippon Steel on Friday, citing national security concerns after a key business-review panel failed to reach […]

Economy

Nvidia’s Jensen Huang is ‘dead wrong’ about quantum computers, D-Wave CEO says

January 9, 2025

D-Wave Quantum CEO Alan Baratz said Nvidia’s Jensen Huang is “dead wrong” about quantum computing after comments from the head of the chip giant spooked Wall Street on Wednesday. Huang was asked on Tuesday about Nvidia’s strategy for quantum computing. He said Nvidia could make conventional chips that are needed alongside quantum computing chips, but that those computers […]

Economy

McDonald’s is the latest company to roll back diversity goals

January 8, 2025

Four years after launching a push for more diversity in its ranks, McDonald’s is ending some of its diversity practices, citing a U.S. Supreme Court decision that outlawed affirmative action in college admissions. McDonald’s is the latest big company to shift its tactics in the wake of the 2023 ruling and a conservative backlash against diversity, equity and […]

Economy

U.S. Steel sues Biden admin, union boss after president blocks acquisition deal

January 8, 2025

U.S. Steel and the Japanese firm that had sought to acquire it are suing the Biden administration after the president announced he was blocking a proposed deal for the iconic American manufacturer. U.S. Steel and Japan’s Nippon Steel said in a release Monday that President Joe Biden ‘ignored the rule of law’ to gain favor […]

Economy

Sierra Space CEO leaves as $5 billion company pushes to launch space plane

January 8, 2025

Sierra Space CEO Tom Vice has left the company, CNBC confirmed Monday. In a statement, Sierra Space said Vice retired Dec. 31. Chairman Fatih Ozmen will serve as interim CEO, with Eren Ozmen as president. “After three and half years in the role, Tom Vice has retired as Sierra Space CEO as of the end of 2024 — we […]

Economy

Eli Manning says ‘only one team’ he’d take an ownership stake in: The New York Giants

January 8, 2025

Former New York Giants quarterback Eli Manning would consider becoming a minority owner of his old team if the Mara family is willing to sell him a stake. “It’s definitely something of interest,” said Manning, who spoke in a CNBC Sport interview. “There’s probably only one team I’d be interested in pursuing, and it’s the […]

Economy

FTC chair hopes Amazon, Facebook won’t get ‘sweetheart deal’ from Trump in antitrust cases

January 8, 2025

Federal Trade Commission Chair Lina Khan said Tuesday she hopes the incoming Trump administration will not let Amazon and Facebook parent Meta off the hook from pending antitrust lawsuits by her agency with a “sweetheart deal.” But, “I can’t predict what future people in my position are going to do,” Khan said on CNBC’s “Squawk Box.” Khan’s comments come as Amazon […]

Economy

Biden blocks Japan’s Nippon Steel from $15 billion takeover of U.S. Steel

January 7, 2025

President Joe Biden said Friday that he has decided to block a $15 billion takeover of U.S. Steel by the Japanese company Nippon Steel, capping off a yearlong business saga that drifted into election politics. A national security review by a Treasury Department committee failed to reach a consensus on the deal last month and deferred the […]

Economy

The fight over credit card swipe fees enters a new year with no end in sight

January 7, 2025

Many small businesses are breathing a bit easier as inflation has cooled and the race for workers slows. But consumers’ steady embrace of credit cards is taking a growing bite out of their margins. Gene-Christian Baca, the owner of Walter’s Hot Dogs in Mamaroneck and White Plains, New York, estimated that he now pays $50,000 […]

Economy

Vail stock struggles as strike leads to long lines at Park City Mountain

January 7, 2025

Vail Resorts shares have dropped in recent weeks as a labor dispute roiled one of America’s most prominent skiing destinations. The Park City Professional Ski Patrol Association, a union representing patrollers at the Utah mountain of the same name, went on strike late last month. The work stoppage has spurred complaints of long lines, closures and […]

Economy

Disney to combine its Hulu+ Live TV with streamer Fubo

January 7, 2025

Disney will combine its Hulu+ Live TV service with Fubo, merging together two internet TV bundles, the companies announced on Monday. Disney will become majority owner of the resulting company — the publicly traded Fubo company — with a 70% ownership stake. Fubo shareholders will own the remaining 30% of the company. The deal is expected to […]

Economy

What’s Turo? The ‘Airbnb of cars’ was used in New Orleans and Las Vegas incidents

January 4, 2025

An online car rental service is under scrutiny after it was used in two incidents Wednesday. The platform, Turo, is known as an “Airbnb of cars,” as it allows individual car owners to rent out their vehicles. Vehicle owners, known as “hosts,” can post cars to Turo’s website, where people can then rent them, with […]

Economy

The plane that crashed in South Korea is one of the world’s most popular aircraft

January 3, 2025

Accident investigators are trying to figure out what caused a Jeju Air flight to belly land without its landing gear down at Muan International Airport in South Korea, killing all but two of the 181 people on board as it burst into flames in the nation’s worst air disaster in decades. South Korea’s acting President Choi […]

Economy

Google CEO Pichai struggled to navigate a pressure-filled year

December 31, 2024

Google’s blowout earnings report in April, which sparked the biggest rally in Alphabet shares since 2015 and pushed its market cap past $2 trillion for the first time, tempered fear that the company was falling behind in artificial intelligence. As executives enthusiastically talked about the results with Google’s employees at an all-hands meeting the following week, it was clear that Wall […]

Economy

Ad revenue should stabilize for media companies in 2025 — if they have sports

December 31, 2024

The advertising market has positive momentum going into 2025 — especially for media companies with sports rights and tentpole live programming. Sports and live events such as awards shows reigned supreme in conversations with media executives who weighed in on their expectations for the advertising market in the year ahead. The end of the uncertainty […]

Browse category by Economy

U.S. Steel CEO appeals to Trump after Biden blocks deal with Japanese firm

Nvidia’s Jensen Huang is ‘dead wrong’ about quantum computers, D-Wave CEO says

McDonald’s is the latest company to roll back diversity goals

U.S. Steel sues Biden admin, union boss after president blocks acquisition deal

Sierra Space CEO leaves as $5 billion company pushes to launch space plane

Eli Manning says ‘only one team’ he’d take an ownership stake in: The New York Giants

FTC chair hopes Amazon, Facebook won’t get ‘sweetheart deal’ from Trump in antitrust cases

Biden blocks Japan’s Nippon Steel from $15 billion takeover of U.S. Steel

The fight over credit card swipe fees enters a new year with no end in sight

Vail stock struggles as strike leads to long lines at Park City Mountain

Disney to combine its Hulu+ Live TV with streamer Fubo

What’s Turo? The ‘Airbnb of cars’ was used in New Orleans and Las Vegas incidents

The plane that crashed in South Korea is one of the world’s most popular aircraft

Google CEO Pichai struggled to navigate a pressure-filled year

Ad revenue should stabilize for media companies in 2025 — if they have sports

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