Business

Trump strikes deal with Putin to supply Russian diesel to U.S. and global markets

Trump Media advisor Katie Zacharia offered White House press secretary role

The White House has tapped Katie Zacharia to be its next press secretary, a White House official confirmed to CNBC.

Tanker attacks in Strait of Hormuz surge to wartime high as Iran tries to choke off oil exports

The escalating attacks are testing whether a rebound in crude oil exports from the Middle East can be sustained under high-risk conditions.

Two massive trades just happened in Micron and Nvidia. What they could mean for chips

Bears continued to build up positions against the semiconductor group on Friday.

Verizon stock heads for worst day since 2002 as SpaceX U.S. network plans whack telcos

SpaceX announced the spectrum deal Thursday, as the company aims to push deeper into the telecom market through its Starlink service.

Trump created a committee to dig into the Fed's Lisa Cook. What is it and what comes next?

US president renews his efforts to oust Cook despite supreme court ruling that her firing was unconstitutional Donald Trump announced on Friday that he is establishing a committee to investigate Lisa Cook, the US Federal Reserve governor, over allegations that she committed mortgage fraud, renewing his efforts to oust her despite a June supreme court ruling that her earlier firing was unconstitutional. Trump said a committee will consult with justice department officials to decide whether there is “cause” for her removal. The White House will hold an in-person hearing on 5 November to consider the allegations against Cook, which will be closed to the public but transcribed and published. Cook will be able to submit a written statement to present her own evidence and will be subject to examination from White House and her own legal counsel. Continue reading...

Trump appoints committee to investigate statements by the Fed's Lisa Cook

US president renews his efforts to oust Cook despite supreme court ruling that her firing was unconstitutional Donald Trump announced on Friday that he is establishing a committee to investigate Lisa Cook, the US Federal Reserve governor, over allegations that she committed mortgage fraud, renewing his efforts to oust her despite a June supreme court ruling that her earlier firing was unconstitutional. Trump said a committee will consult with justice department officials to decide whether there is “cause” for her removal. The White House will hold an in-person hearing on 5 November to consider the allegations against Cook, which will be closed to the public but transcribed and published. Cook will be able to submit a written statement to present her own evidence and will be subject to examination from White House and her own legal counsel. Continue reading...

The used car market is stagnant. Here's how to profit anyway

Michael Khouw breaks down this short strangle options trade.

Tesla drops 'Full Self-Driving' brand name in Europe after regulator pushback

The name change is enough for Germany's transport minister to start advocating for Europe-wide adoption of the driver assistance software.

Hurricane Isaias disrupts U.S. oil production in Gulf of Mexico, threatens refineries

The hurricane could tighten a fuel market that is already facing big disruptions from the wars in Eastern Europe and the Middle East.

Cramer: Investors selling Apple on latest iPhone 18 report are 'stupid as plywood'

Cramer says investors who don't own the stock should use Friday's weakness to build a position.

Burnham promises to curb non-compete rules in job contracts

The prime minister says restrictions on what workers can do after leaving roles have "gone too far".

Americans' debt problems are flashing a warning not seen since the Great Recession

Researchers found that while wealth disparities narrowed somewhat, the ability to meet debt payments deteriorated significantly.

Christian Bittar has conviction for rigging interest rates quashed

Former City banker becomes eighth to clear their name, just days after five others were acquitted Former City trader Christian Bittar has become the eighth person to have his conviction for rigging interest rates quashed, just days after five other former bankers also successfully cleared their names . Christian Bittar, who previously worked for Deutsche Bank, was convicted in 2018 of conspiracy to defraud. Continue reading...

Jim Cramer sets a Starbucks buy level — plus his take on 3 stocks we just bought

The Investing Club holds its "Morning Meeting" every weekday at 10:20 a.m. ET.

ICE won't pause enforcement in NY after Bronx shooting, DHS' Mullin says

New York Gov. Kathy Hochul said she asked Homeland Security Secretary Mullin and President Donald Trump to immediately halt ICE operations in her state.

Wall Street is pitching data centers as a major real estate bet. The risks are piling up

Wall Street firms are bringing AI data center investments to public markets as political, liquidity and project risks grow.

ChatGPT for Teens is not necessarily 'safer than the previous version,' Common Sense Media finds

Common Sense Media released its report about ChatGPT for Teens' new features, concluding the tool does not meet the safety standards OpenAI set.

Delta Air Lines cuts 2026 forecast on fuel surge, but CEO says demand is still strong

Delta Air Lines reported third-quarter earnings and missed Wall Street estimates for the first time in two years.

China and Europe agree to cut Chinese hybrid vehicle exports by half

Europe's trade chief Maroš Sefčovič cast the two days of talks with China's Commerce Minister Wang Wentao in Beijing as a positive first step.

Lost generation: the AI threat to Britain’s next great directors

Commercials once launched careers from Ridley Scott to Guy Ritchie, now automated production is cutting costs – and the chance to learn by doing When Ridley Scott was awarded the UK’s highest accolade for a glittering career directing films from Alien and Blade Runner to Gladiator and The Martian , he reminded those attending the Bafta event eight years ago that making commercials had been his “film school” . The advertising industry has long been a breeding ground for British film and TV talent who have gone on to make the jump to Hollywood productions , including Guy Ritchie, who started out making music videos and commercials, and Paddington in Peru director Dougal Wilson, whose credits include a number of John Lewis’s famous Christmas ads. Continue reading...

NBA Commissioner Adam Silver says he still intends to get a deal done with EuroLeague as he plans launch of NBA Europe

NBA Commissioner Adam Silver expressed confidence on Friday that the league will get a deal done with EuroLeague to help launch NBA Europe.

Ex-Deutsche Bank trader jailed for rigging rates has conviction overturned

The Court of Appeal quashes the conviction of Christian Bittar, a former Deutsche Bank trader jailed in 2018.

AI agents like Muse can shop for you. Here's what that means for retail stocks

For Amazon, Costco, and TJX, the rise of AI shopping agents presents challenges — and some surprising advantages.

South Africa lawyer 'Navi' Pillay wins Nobel Peace Prize for efforts to prosecute war crimes, genocide

South African human rights lawyer Navi Pillay wins the 2026 Nobel Peace Prize for advancing human rights and international law.

Kalshi traders see high odds that more than 5,100 data centers will be planned or operating before 2027

Despite the growing backlash against data centers, Kalshi odds show the buildout will continue to expand.

SpaceX deal to acquire spectrum license hammers shares of AT&T, Verizon and T-Mobile

SpaceX agreed to purchase a nationwide spectrum portfolio as it to pushes its Starlink service deeper into the U.S. telecommunications market.

OpenAI and Anthropic poach Trump officials as industry fights for Washington’s trust

AI labs have been looking to people with political experience as frontier tech is increasingly viewed as a national security issue.

Oil prices fall as Trump pauses Iran attacks, China restarts fuel exports – business live

Brent crude prices fell on Friday as president Donald Trump promised not to attack Iran ahead of the US midterm elections in November Data storage firm Snowflake has said hack at Asos was not caused by a vulnerability or flaw with its platform. It comes after Asos’ investigation this week found an “unauthorised party gained access to an Asos employee account by impersonating a trusted contact to obtain log-in credentials”. Asos said the credentials were then used to access information on third-party platforms used by the company. We are aware of Asos’s notification to their customers regarding this incident. We can confirm this issue did not in any way result from a vulnerability, weakness, flaw, or misconfiguration with the Snowflake service, platform, or internal environments, and was not caused by Snowflake. No remediation is required for Snowflake customers. We continue to encourage

Tory tax break for banks has cost UK public purse £6bn, says TUC

Exclusive: Chancellor urged to reverse Jeremy Hunt’s tax surcharge cuts to claw back billions in lost revenue Business live – latest updates Tax cuts for big banks have deprived the UK government of £6bn in revenues, according to campaigners, who are calling on the chancellor, John Healey, to increase taxes and force lenders to pay their “fair share” in the budget. Calculations by the Trades Union Congress (TUC), which represents unions with more than 5.3 million members across England and Wales, shows that the public purse is billions of pounds worse off as a result of tax cuts introduced under the Tory chancellor Jeremy Hunt in 2023. Continue reading...

Treasury's Bessent hires Trump's controversial former Fed board pick, Judy Shelton, as advisor

Shelton's controversial economic ideas led the Senate to block her nomination to the Fed. Now she's going to be a counselor to the Treasury secretary.

Tech stocks' resilience has puzzled investors. The options market could hold some clues

In the options pits, traders are the most prepared for a tech pullback since early Summer.

Living with Mom and trading on margin. The regular investor gets in on Wall Street's record stock borrowing binge

Margin debt has surged to record levels as investors like 29-year-old Hy Luu borrow more against their portfolios. Here’s how leverage can amplify stock losses.

Jim Cramer's top 10 things to watch in the stock market Friday

Stocks are bouncing this morning after yesterday's sharp tech-driven selloff.

What will Democrats do if they win Congress? Here are their priorities

Control of Congress after the 2026 midterm elections would give Democrats power to subpoena documents and testimony In August, Jamie Raskin renewed his demand that Jared Kushner hand over documents about the overlap between his informal role advising Donald Trump on foreign policy and the private equity firm he runs after an earlier request was ignored. Five of the 11 companies that Elizabeth Warren, Chuck Schumer and Ron Wyden wrote to about Donald Trump’s IRS settlement – including the Trump Organization and World Liberty Financial – never answered at all. Continue reading...

‘This is not an anti-tech town’: backlash to datacenter in city once home to IBM

Fight in East Fishkill, New York, part of a growing divide over whether AI benefits outweigh enormous downsides For decades, East Fishkill helped build New York’s tech industry. The hamlet, located 70 miles north of New York City, was home to a 460-acre campus where IBM researched and manufactured semiconductor chips for nearly fifty years. Continue reading...

Anthropic bans users from being 'cruel' to its AI systems

The firm said users can no longer engage in "sustained and needless" abusive behaviour towards the tech.

How to navigate new tax rules in year-end planning, according to top-ranked advisors

Top-ranked advisors from CNBC's Financial Advisor 100 list for 2026 share tax planning strategies for 2026.

Blockchain.com seeks U.S. approval for prediction markets, crypto derivatives trading

Blockchain.com is seeking CFTC designation and registration to offer U.S. event contracts and cryptocurrency derivatives.

Trump immigrant purge could cut social security for Americans by $2,000 a year

New report on economic cost of anti-immigration campaign projects 8.6% reduction in retirement payments by 2034 Elderly Americans can expect to lose an average of $2,152 in annual social security benefits each, a projected 8.6% reduction in their retirement payments, by 2034 and every year after as a direct consequence of the economic fallout from the Trump administration’s anti-immigration campaign , if that carries on, according to a new report shared exclusively with the Guardian. Already, US food prices are up, housing permits to build new homes are down – and even native-born Americans are losing out on potential jobs after the sudden exodus of 1.2 million foreign-born workers over the last two years as a result of Donald Trump’s policies, the report finds. Continue reading...

Delta CEO: 'Safety is going to make the call' on launching Saudi Arabia flight

Delta is weighing whether to continue with its Riyadh, Saudi Arabia flight debut as planned.

Ferrari’s chairman is bullish on AI. He’s less certain how businesses will cash in

Ferrari chair John Elkann played down AI bubble fears, but acknowledged investment in the technology could outpace revenue generation.

Pilot killed in attacks by Iran-backed Houthis on Riyadh airport; Saudi-led coalition vows 'firm' response

The missile attacks come amid an escalation in fighting between the Iran-backed group and Saudi Arabia, which backs Yemen's government.

Shein outsells British rival Asos as UK revenue hits £2.58bn

Online retailer’s 26% jump sharpens focus on exemption letting cheap parcels into the country duty-free Shein, the online fast-fashion retailer founded in China, increased sales in the UK by just over a quarter last year, overtaking its British rival Asos. The company, whose global parent group listed on the Hong Kong stock exchange valued at just over $26bn (£19.6bn) last month, increased sales at its UK division by 26% to £2.58bn, according to accounts filed at Companies House. Continue reading...

For the final 10% of cystic fibrosis patients, the breakthrough still hasn't come

For the final 10% of cystic fibrosis patients who cannot benefit from breakthrough drugs, Emily's Entourage is funding research to find treatments.

Nobel winner Krugman says France may have become 'too big to save'

Economist Paul Krugman sounded the alarm on a looming "ugly crisis," while former ECB head Jean-Claude Trichet said French politicians must compromise.

The new Darth Vader: how tech execs became the film villains of our age

Jeremy Strong’s portrayal of Mark Zuckerberg in The Social Reckoning shows how public opinion has changed around billionaire CEOs since The Social Network’s release When The Social Network came out, Mark Zuckerberg organised a staff viewing of a film he described as “fun” . A group corporate outing to the sequel is unlikely. Continue reading...

AI and the climate crisis pose existential risks. The law offers a way to reduce them | Robert Reich

Liability lawsuits have held tobacco, oil and pharma companies to account in the past. AI investors won’t ignore this threat The most basic function of government is to protect people from harm. Two growing phenomena – the climate crisis and AI – pose escalating risks of extraordinary harm. The climate crisis is already causing floods, wildfires, drought and record heat. AI agents are already escaping super-secure environments to hack into systems they’re supposed to avoid. Robert Reich, a former US secretary of labor, is a professor of public policy emeritus at the University of California, Berkeley. He is a Guardian US columnist and his newsletter is at robertreich.substack.com . His new book, Coming Up Short: A Memoir of My America, is out now in the US and in the UK Continue reading...

India calls JD Vance's comments about immigrants 'deeply offensive'

India calls comments of U.S. Vice President J.D. Vance about immigrants from the country "deeply offensive."

OpenAI defends decision to fire researchers: 'These decisions were not about raising safety concerns or speaking out'

OpenAI is standing firm on its decision to fire three safety researchers after an investigation found they committed "a significant breach of trust." In a post on X on Friday, the company said Jasmine Wang, Tomek Korbak and Mikita Balesni were dismissed for violating "clear policies on handling sensitive information." It insisted the decision was […]

I've been with my boyfriend for two years and don't know his salary

Talking about salary, spending habits and debt can be some of dating's trickier conversations.

Treasury yields steady as Trump strikes diplomatic tone on Iran ahead of midterms

After President Trump slapped down reports that he is considered renewed strikes against Iran ahead of the midterms, the politics of the war he started are in the spotlight.

Everton owners consider selling club two years after takeover

Everton owners the Friedkin Group are exploring the sale of the club less than two years after taking control.

OpenAI projected to bring in $20bn less in revenue than expected

Questions raised over AI growth as ChatGPT maker forecasts this year’s revenue at $50bn, way below the $70bn signalled before Business live – latest updates OpenAI has revealed that it is making about $20bn less in projected revenue than it had recently indicated to investors, raising questions about the break-neck growth rate in demand for AI. The ChatGPT-maker company has told investors that its revenues for this year would reach $50bn (£37bn), a projection based on sales up to the end of September. Continue reading...

Nvidia-backed data centre firm scraps IPO as AI valuation concerns deepen

Firmus said it had made the decision due to "recent market volatility and prevailing market conditions".

Tokenization could unleash tens of billions of dollars in trapped capital, Nasdaq CEO says

Nasdaq CEO Adena Friedman said tokenization could free up tens of billions of dollars in trapped capital.

Ray Dalio warns the stock market's cushion against rising bond yields is shrinking

Ray Dalio says earnings have cushioned stocks from rising bond yields, but that buffer is shrinking as he warns free cash flow could weaken.

Virgin unveils its future cross-Channel train as it gears up to take on Eurostar

Group plans to launch services from London in 2030 and hopes to outshine competitor with design inspiration from its airline, cruise and hotel arms Flash interiors, fancy food and maybe even a bar: Virgin has unveiled a mock-up of its future cross-Channel train, with a pledge to create “something genuinely new”. The group is planning to launch rail services from London to the continent in 2030, with Eurostar facing competition for the first time since the opening of the Channel tunnel. Continue reading...

'You cannot build this car anywhere else in the world'

Car maker Longbow, which hopes to build thousands of cars, says the region has the talent and know-how.