Changpeng Zhao, founder of Binance, attends the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris on June 16, 2022.Benoit Tessier | ReutersPresident Donald Trump said he knows nothing about Binance founder Changpeng Zhao — or that company’s recent involvement in a cryptocurrency venture linked to Trump’s family — despite granting him a pardon last month.Asked in a CBS “60 Minutes” interview that aired Sunday why he pardoned the former crypto executive known as CZ, Trump said: “Okay, are you ready? I don’t know who he is.”In late 2023, Zhao stepped down as…
Author: usaeverydaylife
Cloud computing startup Lambda announced on Monday a multibillion-dollar deal with Microsoft for artificial intelligence infrastructure powered by tens of thousands of Nvidia chips.The agreement comes as Lambda benefits from surging consumer demand for AI-powered services, including AI chatbots and assistants, CEO Stephen Balaban told CNBC’s “Money Movers” on Monday.”We’re in the middle of probably the largest technology buildout that we’ve ever seen,” Balaban said. “The industry is going really well right now, and there’s just a lot of people who are using ChatGPT and Claude and the different AI services that are out there.”Balaban said the partnership will continue…
Warren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 3, 2025.CNBCWarren Buffett’s Berkshire Hathaway may have quietly trimmed its massive Apple stake again in the third quarter, a new regulatory filing suggests.In its latest quarterly report, Berkshire said the cost basis of its consumer products equity holdings fell by roughly $1.2 billion from the prior quarter. That category is dominated by the giant conglomerate’s Apple position, implying the decline likely reflects additional sales of Apple shares.Apple’s stock jumped more than 24% in the third quarter, a rally that would have offered Buffett an attractive…
New York Attorney General Letitia James stands silently during a press conference on October 21, 2025 in New York City. Michael M. Santiago | Getty ImagesNew York Attorney General Letitia James and more than a dozen other state attorneys general are suing the Trump administration over its new rule limiting eligibility for a popular student loan forgiveness program.The AGs’ lawsuit was prompted by the U.S. Department of Education’s final rule, released last week, that changes the definition of a “qualifying employer” under the Public Service Loan Forgiveness program. The rule excludes certain organizations “that engage in unlawful activities” such as…
An EBT sign is displayed on the window of a grocery store on Oct. 30, 2025 in the Flatbush neighborhood of the Brooklyn borough in New York City.Michael M. Santiago | Getty ImagesThe Trump administration told a federal judge in Rhode Island on Monday that it would tap billions of dollars in contingency funds to help pay for at least some SNAP benefits during the ongoing U.S. government shutdown.The administration, in a court filing, told the judge it had declined the option he suggested of making the full November payments for SNAP benefits by using money from the Child Nutrition…
Tesla models Y and 3 are displayed at a Tesla showroom in Corte Madera, California, on Dec. 20, 2024.Justin Sullivan | Getty ImagesTesla has been ordered to provide records to U.S. federal auto safety regulators to comply with a sweeping investigation into possible safety defects with the company’s flush-mounted, retractable door handles that can lead to people getting trapped.The National Highway Traffic Safety Administration said in a letter to Elon Musk’s automaker that the agency continued to receive complaints from Tesla owners after the regulators initiated a probe in September.Owners said they were unable to enter or exit their cars…
A Taco Bell restaurant in El Cerrito, California, US, on Tuesday, April 29, 2025. David Paul Morris | Bloomberg | Getty ImagesWith more consumer companies preparing to report third-quarter earnings this week, Wall Street will be watching for signs of a bifurcated or “K-shaped” economy as consumers diverge in their spending behaviors.There have been increasing signals that wealthier Americans are spending more while lower-income Americans are significantly paring back their spending. Lower-income consumers have been hit hardest by rising inflation and escalating prices on essentials, with this month’s Consumer Price Index report indicating a 0.3% increase on the month, putting…
Several companies scheduled to report earnings this week could see their stocks soar or in price, or slump, based on current options trading on their shares. This earnings season has seen strong momentum, with more than 80% of companies reporting their financial results posting better-than-expected revenue or earnings per share for the third quarter, FactSet data shows. But dozens of Big Tech, retail and pharmaceutical companies report their earnings this week, and their results could make their stocks volatile. To anticipate some of those moves, CNBC Pro screened for stocks that are expected to see the largest options-implied move in the…
Ford Mustang Mach-E EV vehicles at a Ford dealership in Los Angeles, California, US, on Thursday, Oct 16, 2025. Kyle Grillot | Bloomberg | Getty ImagesDETROIT — Sales of all-electric vehicles collapsed last month following the end of up to $7,500 in federal incentives for purchasing an EV, several automakers said Monday.Ford Motor, Kia and Hyundai Motor reported massive declines in EV sales as many buyers pulled ahead purchases before the credits ended under changes by the Trump administration.Ford, which ranked third in U.S. EV sales through the third quarter, reported a 25% drop in its year-over-year all-electric October sales.…
FILE PHOTO: The headquarters of the U.S. Food and Drug Administration (FDA) is seen in Silver Spring, Maryland November 4, 2009. Jason Reed | ReutersThe head of the Food and Drug Administration’s drug center abruptly resigned Sunday after federal officials began reviewing “serious concerns about his personal conduct,” according to a government spokesperson.Dr. George Tidmarsh, who was named to the FDA post in July, was placed on leave Friday after officials in the Department of Health and Human Services’ Office of General Counsel were notified of the issues, HHS press secretary Emily Hilliard said in an email. Tidmarsh then resigned Sunday…
