Economy

Budrul Chukrut | SOPA Images | Lightrocket | Getty Images Mobile betting powerhouse DraftKings is planning a tax on consumers in states with the highest sports betting tax rates, as the company looks to boost profit. The company announced Thursday that starting next year, it will implement a gaming surcharge on winning bets in states […]

Elon Musk, Chief Executive Officer of SpaceX and Tesla and owner of X speaks during the Milken Conference 2024 Global Conference Sessions at The Beverly Hilton in Beverly Hills, California, U.S., May 6, 2024. David Swanson | Reuters If a voter in Michigan performs a search on Google a somewhat shocking ad might pop up. […]

An injection pen of Zepbound, Eli Lilly’s weight loss drug, is displayed in New York City on Dec. 11, 2023. Brendan McDermid | Reuters All doses of Eli Lilly’s highly popular weight loss injection Zepbound and diabetes drug Mounjaro are now available in the U.S., according to an update on the U.S. Food and Drug […]

Pavlo Gonchar | Lightrocket | Getty Images Founders of one of the hottest artificial intelligence startups Character.AI are rejoining Google along with other team members. Noam Shazeer and Daniel De Freitas, in addition to certain members of Character.AI’s research team, are joining Google’s AI unit DeepMind, the companies said Friday. Character.AI uses large language models […]

U.S. Treasury yields climbed Tuesday after a key inflation report showed price increases slowing, potentially bolstering the case for the Federal Reserve to skip a rate hike this week.The 10-year Treasury yield added 7 basis points to 3.835%. The 2-year Treasury yield was trading higher by 10 basis points at 4.698%.Yields and prices have an… […]

An animated avatar generated by the AI video platform Synthesia.SynthesiaSynthesia, a digital media platform that lets users create artificial intelligence-generated videos, has raked in $90 million from investors — including U.S. chip giant Nvidia, the company told CNBC exclusively.The London-based company raised the cash in a funding round led by Accel, an early investor in… […]

President Donald Trump on Friday extended a deadline requiring China-based ByteDance to sell the U.S. operations of TikTok or face an effective ban in the country, marking the second time he has taken such action. Trump announced the extension on his Truth Social platform, saying the TikTok deal “requires more work to ensure all necessary […]

Pedestrians walk by an advertisement for Klarna. Daniel Harvey Gonzalez | In Pictures via Getty Images Klarna and StubHub are delaying plans to go public after President Donald Trump’s sweeping tariff announcement sent shock waves through U.S. markets. The companies put their long-awaited debuts on pause because of market turbulence, according to a source familiar […]

Federal Reserve Chair Jerome Powell said Friday that he expects President Donald Trump’s tariffs to raise inflation and lower growth, and indicated that the central bank won’t move on interest rates until it gets a clearer picture on the ultimate impacts. In a speech delivered before business journalists in Arlington, Virginia, Powell said the Fed […]

Warren Buffett went on the record Friday to deny social media posts after President Donald Trump shared on Truth Social a fan video that claimed the president is tanking the stock market on purpose with the endorsement of the legendary investor. Trump on Friday shared an outlandish social media video that defends his recent policy […]