Economy

3alexd | E+ | Getty Images A humanoid robotics startup cofounded by the CEO of bankrupt fintech firm Synapse has canvassed Silicon Valley investors for funds by claiming close ties and an imminent investment from General Motors — claims rejected by the automaker. The company, called Foundation Robotics Labs, is seeking the last $1 million […]

CNBC’s Jim Cramer on Wednesday said the two most important forces in this market, the Federal Reserve and the technology sector, both got shocked “in a positive way” this week. The Fed held interest rates steady on Wednesday and revised its outlook to just one rate cut in 2024. But Cramer said this morning’s “very […]

World Champion Joey Chestnut during the weigh-in ceremony ahead of the 2023 Nathan’s Famous Fourth of July International Hot Dog Eating Contest in Coney Island in Brooklyn, New York, on July 3, 2023. Brendan McDermid | Reuters Netflix is preparing for a showdown on Labor Day. The company announced Wednesday that it will live stream […]

U.S. Treasury yields fell Wednesday after the Federal Reserve indicated it was making inroads on inflation following a cool May CPI report. The rate on the 10-year Treasury last dropped 8 basis points to 4.318%. The benchmark yield slid as low as 4.25% at one point, its lowest level since April 1. The 2-year Treasury […]

The investor who ran the country’s biggest natural gas ETF said he believes prices have hit bottom.John Love, who managed the United States Natural Gas Fund, cites global demand and production dynamics for his bull case.”They’re [producers] looking to the future,” the U.S. Commodity Funds CEO told CNBC’s “ETF Edge” this week. “This huge export… […]

As the market assesses the past week and looks to the next, Wall Street is focused on the uncertainty around the debt ceiling standoff in Washington and mounting worries a recession is looming. A meeting between President Joe Biden and congressional leaders of both parties, which was supposed to take place Friday, is now set… […]

A New York federal judge warned JPMorgan Chase that he might find the bank in contempt of court if it does not speed up in producing evidence related to late sexual offender and money manager Jeffrey Epstein for lawsuits by an Epstein accuser and the government of the U.S. Virgin Islands, CNBC has learned.Judge Jed… […]

Michigan Avenue in Lansing, Michigan.Mike Kline (Notkalvin) | Moment | Getty ImagesLansing, Michigan may never be the same. The city of just over 110,000 residents known for its towering state capitol building, large convention center and proximity to campuses is trying to reshape itself for a post-Covid world.It’s been more than three years since the… […]

Entertainment writers are striking coast to coast. The clever signs they’re holding up on the picket lines (“Don’t pay us peanuts to write ‘Billions'”) are often as creative as their work. Every three years, the Writers Guild of America, the TV and film writers’ union, negotiates a contract with the Alliance of Motion Picture and… […]

A jury convicted Hunter Bidenson of President Joe Bidenof all three counts at his criminal gun trial in Delaware federal court on Tuesday morning. Hunter Biden, 54, was found guilty of making a false statement in connection with the sale of a firearm, a false statement in a firearms transaction, and possessing a firearm while […]