Amazon closes some warehouses in Florida as Hurricane Ian approaches

Packages move along a conveyor at an Amazon fulfillment center on Cyber Monday in Robbinsville, New Jersey, U.S., on Monday, Nov. 29, 2021. Michael Nagle | Bloomberg | Getty Images Amazon is temporarily closing warehouses in parts of Florida as Hurricane Ian churns toward the state. The company on Tuesday shuttered sites near Tampa and […]

Netflix to open video game studio in Finland, looks to boost audience

Netflix gift cards are seen in a shop in Krakow, Poland on June 13, 2022. Jakub Porzycki | Nurphoto | Getty Images Netflix said Monday it will be opening an internal game studio in Finland. The development marks the company’s first of its kind since the streaming giant entered the mobile gaming space in November […]

China extends EV tax break; Li Auto shares fall after delivery outlook cut

Li Auto warned that “supply chain constraint” would mean the company will deliver fewer cars than expected in the third quarter. Meanwhile, China has extended a tax exemption for new energy vehicles until the end of 2023 as it looks to spur growth for electric cars. CFOTO | Future Publishing | Getty Images Shares of […]

How a fracking boom startup is planning to survive climate change era

A Microseismic truck in a West Texas oil field. Microseismic In this weekly series, CNBC takes a look at companies that made the inaugural Disruptor 50 list, 10 years later. By 2013, when Microseismic was selected for the inaugural CNBC Disruptor 50 list, it was pretty far from the “start” in startup, already in its […]

U.S. approves Kigali Amendment to curb climate-warming chemicals

U.S. Senate Majority Leader Chuck Schumer (D-NY) speaks to the media after the 51-50 vote passed the “Inflation Reduction Act of 2022” on Capitol Hill in Washington, D.C., U.S. August 7, 2022.  Ken Cedeno | Reuters The Senate has voted to ratify a global climate treaty that will phase down the use and production of hydrofluorocarbons, […]

Semiconductor alliances between U.S. and Asia could hold back China

Leading chipmaking nations including the U.S. are forming alliances, in part to secure their semiconductor supply chain and to stop China from reaching the cutting-edge of the industry, analysts told CNBC. Places including the United States, South Korea, Japan and Taiwan, which have strong semiconductor industries, have looked to forge partnerships around the critical technology. “The immediate reason […]

US, South Korea exchange ‘frank views’ amid EV subsidies dispute | Business and Economy

Tensions over economic issues come as South Korean President Yoon Suk-yeol makes first US trip. The United States on Wednesday said its commerce secretary and South Korea’s trade minister exchanged “frank views” over Seoul’s pending legislation on network usage fees on foreign content providers and Washington’s electric vehicle credits during a meeting. The Inflation Reduction […]

Morgan Stanley says this EV battery maker can rally as much as 350%

Freyr could see its stock double — if not jump four times from where it is now — as the electric vehicle battery maker builds out its client base and production facilities and benefits from recent legislation being passed, according to Morgan Stanley. Analyst Adam Jones named Freyr a top pick and hiked his price […]

CEO of Alibaba-owned Daraz gives tips for building successful business

After spending six years working for Goldman Sachs as an investment banker, Bjarke Mikkelsen faced a dilemma. “I had a very comfortable life, but I wasn’t really feeling like I had a purpose,” he told CNBC Make It. “In banking, you’re always in the end, an advisor. I knew I wanted to try and run […]

Adnan Syed: Judge vacates conviction of ‘Serial’ podcast subject

Baltimore CNN  —  A judge on Monday approved a motion by prosecutors to vacate the murder conviction of Adnan Syed, the subject of the first season of the popular “Serial” podcast, who has maintained he is innocent in the 1999 slaying of his ex-girlfriend. Baltimore prosecutors filed the motion last week asking for a new […]

Former senior Obama advisor guides lobbying and policy strategy of London cryptocurrency firm

Jim Messina participates in a panel discussion during the annual Milken Institute Global Conference at The Beverly Hilton Hotel on April 29, 2019 in Beverly Hills, California. Michael Kovac | Getty Images Jim Messina, former President Barack Obama’s deputy chief of staff, is bringing some hefty lobbying guidance to a London-based cryptocurrency trading platform as […]

GTA IV game footage leaks, Take-Two shares slide

Strauss Zelnick, CEO, Take-Two Scott Mlyn | CNBC Take-Two Interactive shares fell more than 2% early Monday after the company suffered a network intrusion where a third party illegally accessed footage of the new Grand Theft Auto videogame. A user called “teapotuberhacker,” who is also claiming responsibility for the recent hack at the rideshare company […]

Meta shares plunged 14% this week, falling close to their pandemic low

Meta Platforms CEO Mark Zuckerberg speaks at Georgetown University in Washington on Oct. 17, 2019. Andrew Caballero-Reynolds | AFP | Getty Images Facebook hasn’t been this cheap since the beginning of the pandemic. After plunging 14% for the week to close at $146.29, shares of Facebook parent Meta are at their lowest point since March […]

Tech investor Paul Meeks weighs in on Apple and Samsung

Investors have seemingly lost their appetite for tech stocks this year amid a flight to safety. Tuesday’s sell-off on Wall Street saw the six largest U.S. tech companies shed more than $500 billion in market capitalization after a hotter-than-expected August inflation report sent stocks tumbling. Top tech investor Paul Meeks is advising investors to stay […]

Ethereum’s massive software upgrade just went live — here’s what it does

Ethereum’s biggest-ever upgrade just took effect, in what industry experts are calling a game changer for the entire crypto sector. Thus far, all signs suggest the so-called merge — which is designed to cut the cryptocurrency’s energy consumption by more than 99% — was a success. The very first proof-of-stake block of transactions has finalized […]

Mixed performance with progress and delays

The company’s Electron rocket carrying the CAPSTONE mission lifts off from New Zealand on June 28, 2022. Rocket Lab The second quarter was a mixed bag for space companies, with some firms posting steady progress while others faced setbacks. Most space stocks, many of which went public last year through SPAC deals, are struggling despite […]

Apple event had an unusually dark tone, emphasizing emergency features

When Apple held its annual launch event for the iPhone 13 in 2021, it started with a joyful video featuring jazz dancers celebrating the natural beauty of California (which can be captured with an iPhone camera, of course). The undertone of Apple’s iPhone 14 launch this week was darker. After zooming in on Apple’s headquarters […]

Chinese EV giant BYD plans to build a passenger car factory in Thailand

Chinese electric car company BYD has expanded rapidly overseas, including announcements in recent months of plans to enter Thailand’s and Japan’s passenger car markets. Pictured here is a test drive of BYD’s electric Atto 3 SUV in Yokohama, Japan, in August 2022. Bloomberg | Bloomberg | Getty Images BEIJING — Chinese electric car and battery […]

What are meme stocks and why are they back? | Social Media News

Meme stock mania, born during the peak of the coronavirus pandemic, has turned the tables on institutional investors by banding retail day traders together via social media to pump the stock of companies Wall Street bets against. This new generation of traders, assembling on websites like Reddit’s popular WallStreetBets forum and using commission-free trading apps […]

Daiwa downgrades Nvidia, says valuation is still too high given the weak economy

Daiwa Capital Markets believes shares of Nvidia need a valuation reset as the chipmaker faces a slew of challenges ahead. Analyst Louis Miscioscia downgraded shares of the company to neutral from outperform, saying in a note to clients Thursday that uncertainty is ahead for the company as it grapples with new government restrictions and a […]

Amazon loses effort to overturn union win at Staten Island facility

Chris Smalls and Derrick Palmer at the temporary headquarters of the Amazon Labor Union in Staten Island, New York, on June 15, 2022. Katie Schoolov A historic union victory at Amazon’s Staten Island warehouse should be upheld, a National Labor Relations Board official recommended on Thursday. In April, more than 2,600 workers at Amazon’s warehouse […]

Nvidia says U.S. government allows AI chip development in China

A sign is posted at the Nvidia headquarters on May 25, 2022 in Santa Clara, California. Justin Sullivan | Getty Images Nvidia on Thursday said the U.S. Government will allow it to continue developing its H100 artificial intelligence chip in China. It’s a win for the company after it warned on Wednesday that new export […]

Intuit and Box are buys as they are best positioned to weather a downturn, Citi says

With a potential recession on the horizon, Citi says it’s time for investors to put their money in back-office software names Intuit and Box. Analyst Steven Enders initiated and assumed coverage of the sector, naming Intuit among the bank’s top picks in the space and Box a buy. “Entering the next phase and a potential […]

Taiwan’s Tsai touts ‘democracy chips’ in meeting with US governor | Technology

Arizona Governor Doug Ducey is the latest in a succession of US politicians to visit the self-ruled island. Taiwan looks forward to producing “democracy chips” with the United States, President Tsai Ing-wen has told the visiting governor of the US state of Arizona. Taiwan has been keen to show the US, its most important international backer […]

India 5G race will be between Reliance and Bharti Airtel: Sanjay Kapoor

The push for India’s first 5G spectrum may be heating up, but rollout plans in the country are still “a big maze,” according to a former CEO of Indian telco Bharti Airtel. Speaking to CNBC’s “Street Signs Asia” on Wednesday, Sanjay Kapoor, who is now an independent analyst, said Indian mobile operator Reliance Jio’s $25 […]

Nvidia stock falls after U.S. government restricts chip sales to China

Nvidia headquarters in Santa Clara, California, on Tuesday, Feb. 23, 2021. David Paul Morris | Bloomberg | Getty Images Nvidia shares fell 4% in extended trading on Wednesday after the company said the U.S. government is restricting sales in China. In a filing with the SEC, Nvidia said the U.S. government told the company on […]

Strategist likes this defensive FAANG stock heading into September

U.S stocks fell on Monday, extending a losing streak from last week, but there could be more pain ahead as the stock market heads into what has traditionally been a “seasonally weak” period for equities. But strategist King Lip is not overly worried. “We are going into a seasonally weak period for stocks, so we […]

Apple iPhone 14 event preview September 2022

Apple CEO Tim Cook delivers a keynote address during the WWDC22 at Apple Park on June 06, 2022 in Cupertino, California. Apple CEO Tim Cook kicked off the annual WWDC22 developer conference. Justin Sullivan | Getty Images Apple is holding a launch event at its headquarters in Cupertino, California, on Sept. 7. The company is […]

Panera Bread tests artificial intelligence technology in drive-thru lanes

A Panera Bread location in Spring Hill, Florida. Jeff Greenberg | Universal Images Group | Getty Images Starting Monday, drive-thru customers at two Panera Bread locations in upstate New York will have their orders taken by a computer in a test of artificial intelligence technology’s accuracy and ability to decrease service times. The sandwich chain […]

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