Business

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., February 7, 2024. Brendan Mcdermid | Reuters The forces that consumed three regional lenders in March 2023 have left hundreds of smaller banks wounded, as merger activity — a key potential lifeline — has slowed to a trickle.

The window for interest rate cuts may be closing. On the eve of the Federal Reserve’s two-day policy meeting, Wall Street forecaster Jim Bianco believes the central bank will likely stay on hold until next year. “I’m in the camp that the Fed does not change policy in the summer of an election year,” the

A Volkswagen EV ID.4 crossover at the Volkswagen of America plant in Chattanooga, Tenneessee, on June 8, 2022. Michael Wayland | CNBC DETROIT — Volkswagen workers at a plant in Tennessee have filed a petition with the National Labor Relations Board for a vote to join the United Auto Workers, the union announced Monday. The

High-rise residential and commercial buildings are being constructed near Dongyu Road, Qiantan, in the Pudong New Area of Shanghai, China, on March 15, 2024.  Nurphoto | Nurphoto | Getty Images BEIJING —  China’s economic data for the first two months of the year beat analysts’ expectations across the board on Monday. Retail sales rose 5.5%,

Guard Caitlin Clark #22 of the Iowa Hawkeyes listens as the crowd cheers after breaking the NCAA women’s all-time scoring record during the game against the Michigan Wolverines at Carver-Hawkeye Arena on February 15, 2024 in Iowa City, Iowa.  Matthew Holst | Getty Images Women’s sports reached an inflection point in 2023, propelled by major

The Hong Kong observation wheel and the HSBC building in Victoria Harbour in Hong Kong. Ucg | Universal Images Group | Getty Images HSBC is “very positive” about the mid- to long-term outlook for the Chinese economy despite current headwinds, the British bank’s chief financial officer told CNBC. Growth in China has been weighed down

Read CNBC’s full investigation into the alleged organized theft groups that police say are stealing and reselling items from retailers including Ulta Beauty, T.J. Maxx and Walgreens. Faced with sophisticated organized retail crime rings that investigators say have targeted his company, Ulta Beauty CEO Dave Kimbell is laying some blame on e-commerce sites. In the

Bitcoin may start to lose its reputation as a volatile asset. According to Bitwise Asset Management’s Matt Hougan, the cryptocurrency’s wild price swings have come down substantially over the past decade. “What’s driving the bitcoin market right now is a simple demand-supply imbalance,” the firm’s chief investment officer told CNBC’s “ETF Edge” on Monday. “We

Beyonce leaves the Luar fashion show at 154 Scott in Brooklyn during New York Fashion Week on February 13, 2024 in New York City.  James Devaney | GC Images | Getty Images Country music, meet Cowboy Carter. Superstar singer-songwriter Beyoncé Knowles is foraying into country music — taking on a genre that has excluded women

Calls for a wealth tax on the world’s super-rich are once again gaining attention after U.S. President Joe Biden said he would impose a new “billionaire tax” on the country’s wealthiest if reelected in November. Outlining his 2025 budget proposals on Monday, Biden took aim at the uber-affluent and reiterated plans for a 25% tax

In a tony suburban enclave in the San Diego foothills, police say, an organized retail crime “queenpin” had built an empire. Tucked behind the stone walls of her 4,500-square-foot Spanish-style mansion, Michelle Mack had stockpiled a small fortune in cosmetics that had been stolen from Ulta and Sephora stores across the country, authorities said.  Police

Bitcoin offices are seen in Istanbul, Turkey, on February 28, 2024.  Umit Turhan Coskun | Nurphoto | Getty Images Bitcoin suffered a steep drop in overnight trading, showing that the world’s largest cryptocurrency hasn’t shaken its tendency for big drops despite continuing to gain acceptance within the mainstream financial world. Data from Coin Metrics shows

In this photo illustration, the Madrigal Pharmaceuticals logo is displayed on a smartphone screen.  Rafael Henrique | SOPA Images | Lightrocket | Getty Images The Food and Drug Administration on Thursday approved the first-ever treatment for a common and potentially deadly form of liver disease that affects millions worldwide. The FDA’s decision means Madrigal Pharmaceuticals

The Morgan Stanley digital sign is seen at the company’s Times Square headquarters in New York, U.S., on Friday, Jan. 12, 2016. John Taggart | Bloomberg | Getty Images Morgan Stanley promoted a tech executive in its wealth management division to become the bank’s first head of firm-wide artificial intelligence, CNBC has learned. The bank

The interior of an Under Armour store is seen on November 03, 2021 in Houston, Texas. Brandon Bell | Getty Images Wall Street is not pleased that Under Armour founder Kevin Plank is returning as its CEO.  Shares of the athletic apparel company plunged about 12% on Thursday after the retailer announced late Wednesday that

Ken Griffin, Citadel at CNBC’s Delivering Alpha, Sept. 28, 2022. Scott Mlyn | CNBC Ken Griffin, Citadel founder and CEO, thinks the Federal Reserve should move slowly to cut interest rates in its fight against stubborn inflation. “If I’m them, I don’t want to cut too quickly,” Griffin said at the International Futures Industry conference in

SpaceX’s next-generation Starship spacecraft atop its powerful Super Heavy rocket is prepared for a third launch from the company’s Boca Chica launchpad on an uncrewed test flight, near Brownsville, Texas, on March 13, 2024. Joe Skipper | Reuters Elon Musk’s SpaceX is preparing to launch its third Starship test flight as soon as Thursday morning