Russian President Vladimir Putin watches with binoculars the Tsentr-2019 military exercise at the Donguz range near Orenburg city on September 20, 2019.Alexey Nikolsky | Afp | Getty ImagesRussia was an indirect beneficiary of the war in Gaza in that it distracted the U.S. and other Western countries from its ongoing war in Ukraine.But now that there’s a ceasefire between Israel and Hamas and a fledgling peace process has begun, U.S. President Donald Trump is turning his sights on ending the war in Ukraine.The president said Thursday that he and other “high-level advisors” will meet with Russian President Vladimir Putin in…
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European markets traded firmly in the red on Friday morning as concerns over the banking sector reached the region.The Pan-European Stoxx 600 was 1.5% lower at 8:26 a.m. in London (3:26 a.m. ET), with all major indexes and sectors in negative territory. The U.K.’s FTSE index was 1.5% lower, France’s CAC 40 was down 0.7%, while Germany’s DAX and Italy’s FTSE MIB both fell over 2%.CNBC Daily Open: Could regional banks’ bad loans signal something bigger?It comes as spillover from the U.S. banking sector hit European stocks on Friday, with the Stoxx Europe 600 Banks Index sliding around 2.8%.In the…
A shopper walks past shelves of cooking oil for sale at a supermarket in Beijing on October 15, 2025. Pedro Pardo | Afp | Getty ImagesPresident Donald Trump’s tariffs will cost global businesses upward of $1.2 trillion in 2025, with most of the cost being passed onto consumers, according to a new analysis from S&P Global.In a white paper released Thursday, the firm said its estimate of additional expenses for companies is probably conservative. The price tag comes from information provided by some 15,000 sell-side analysts across 9,000 companies who contribute to S&P and its proprietary research indexes.”The sources of…
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets: The S & P 500 reversed lower Thursday afternoon on concerns about credit stress in the banking industry. The latest issue came up when regional bank Zions revealed plans late Wednesday to write off $50 million to cover two loans. Shares of Zions dropped nearly 12% on Thursday. In sympathy, Capital One , one of the nation’s largest credit card issuers, dropped more than 6%, and Wells Fargo, known for…
Key PointsDemand for copper is expected to surge over the next decade, powered partly by the ongoing AI boom and a ramp-up in European defense spending.A “fragility” of supply chains, magnified by the current flare-up of trade tensions, shows why a diversity of supply is critical going forward.London Metal Exchange CEO Matt Chamberlain said “every nation” is looking at supply dynamics, including diversity of delivery and smelting reinvestment.Renewed U.S.-China trade tensions underline supply challenges in copper markets, as the AI boom, increased defense spending and energy transition look set to turbo-charge demand for the metal over the next decade. Matt…
LONDON — EU heads of state will call for quicker action on the use of immobilized Russian assets at a meeting next week amid growing pressure from U.S. President Donald Trump, according to a document seen by CNBC.The European Commission, the executive arm of the EU, has been looking at how to use about 175 billion euros ($204 billion) in cash that has matured from frozen Russian assets held in Europe to further support Ukraine’s coffers. The Trump administration has pushed its G-7 counterparts, which include Italy, France, and Germany, to seize billions in frozen Russian assets, according to the…
Luxury stocks surged this week after French luxury conglomerate LVMH — a bellwether for the sector — posted a surprise return to growth for the third quarter, putting Europe’s high-end firms on course to continue a multi-year rally. The sector has boomed in recent years, but stagnating sales, price rises , and renewed trade tensions have fueled questions about the outlook for high-end goods. But the day after LVMH’s Tuesday earnings update, the Stoxx Luxury 10 index — which counts LVMH, Gucci owner- Kering and Ferrari among its constituents — closed 6.4% higher, marking its biggest daily gain since January…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailOn today’s episode of CNBC Crypto World, Paxos, the blockchain partner of PayPal, accidentally minted $300 trillion worth of the online payment giant’s stablecoin in what the company called a “technical error.” And David Bailey, the CEO of BTC Inc and KindlyMD, explains the merger between the healthcare company and Nakamoto, the bitcoin investment company he founded.13:20Thu, Oct 16 20253:09 PM EDT Source link
Allison Ellsworth is the co-founder of Poppi.Courtesy of Allison EllsworthIn 2015, Allison Ellsworth was in her kitchen experimenting with different gut-healthy drink recipes, trying to make apple cider vinegar taste good. Little did she know that the concoctions she was mixing would eventually become a billion dollar business.Today, the 38-year-old is the co-founder of prebiotic soda brand Poppi, which she started alongside her husband Stephen Ellsworth. Almost a decade after her kitchen experiments, in May 2025, Ellsworth sold the business to PepsiCo for $1.95 billion.The deal includes $300 million in anticipated cash tax benefits for a net purchase price of…
Americans may feel somewhat removed from the Federal Reserve, but the central bank’s moves have a ripple effect on many types of consumer products, most notably the credit cards in their wallet.Nearly half of American households have credit card debt and pay more than 20% in interest, on average, on their revolving balances — making credit cards one of the most expensive ways to borrow money.”For millions of American households, credit card debt represents their highest-cost debt by a wide margin,” said Ted Rossman, senior industry analyst at Bankrate. Since most credit cards have a variable rate, there’s a direct connection to the…
