German company Lilium produces flying electric passenger drones.LiliumGerman aerospace startup Lilium faces insolvency if it doesn’t raise emergency funding from the state government for the southeastern state of Bavaria.Insolvency would mark a dramatic fall for a startup once touted as Europe’s best chance at building the 21st-century equivalent of “cars” that can fly.Lilium is one of a series of firms trying to build “eVTOLs,” or electric vertical take-off and landing, vehicles.Popularly known as flying cars or air taxis, these vehicles are being developed by startups in the United States, Europe and Asia.Today, however, Lilium is in trouble. The company is…
Author: usaeverydaylife
Launched in 2018 by crypto firm Circle, USDC is now the second-biggest stablecoin globally, with more than $30 billion worth of tokens in circulation.Nurphoto | Getty ImagesLONDON — The U.K. is likely to see stablecoin laws introduced in a matter of “months, not years,” according to crypto firm Circle’s top policy executive.Dante Disparte, Circle’s global head of policy, said that he sees the U.K. will soon bring in legislation for stablecoins, a type of cryptocurrency that aims to maintain a constant peg to government currencies such as the U.S. dollar or British pound”I think we’re within months, not years” of formal…
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., May 15, 2024.Brendan McDermid | ReutersStock futures fell on Wednesday after the S&P 500 posted its first back-to-back loss since early September, while Treasury yields moved higher. Futures linked to the broad market index lost 0.1%. Dow futures slid 154 points, or 0.4%, while Nasdaq-100 futures dropped 0.2%.McDonald’s fell 6.1% after the U.S. Centers for Disease Control and Prevention said an E. coli outbreak tied to the fast-food giant’s Quarter Pounder burgers has resulted in 10 hospitalizations and one death. Starbucks tumbled 5%…
Deutsche Bank offices in the City of London on July 2, 2024, in London, U.K. Mike Kemp | In Pictures | Getty ImagesCologne’s higher regional court on Wednesday ruled against Deutsche Bank in a long-standing legal dispute with shareholders who alleged the lender underpaid in its acquisition of German retail bank Postbank.The institutions merged in 2018.Plaintiffs in the case claim that Postbank was worth more than the 25 euros ($27) per share paid by Deutsche Bank as part of its takeover offer of October 2010. The investors held they were entitled to a significantly higher payment of 57.25 euro per share.In…
Investors should look beyond the so-called “Magnificent Seven” and identify “country winners” in tech outside the U.S., according to one hedge fund manager. Beeneet Kothari, CEO and principal portfolio manager at the U.S.-headquartered hedge fund Tekne Capital Management, said there are global tech stocks that also make good investments right now. “Our view is that there is a Magnificent Seven set of companies in each of the major economies in the world [which] you can buy for a fraction of the value,” he told CNBC Pro earlier this month. The Magnificent Seven stocks — Alphabet , Amazon , Apple , Meta Platforms , Microsoft…
A smartphone with a Qualcomm logo is placed on a computer motherboard in this illustration taken on March 6, 2023.Dado Ruvic | ReutersQualcomm shares fell nearly 5% in premarket trade after Bloomberg reported that British chip designer Arm is looking to scrap a key license for the U.S. firm.Arm has given Qualcomm a 60-day notice of the cancellation of their so-called architectural license agreement, Bloomberg reported, citing a document.The license in question allows Qualcomm to design chips based on Arm architecture. Arm operates by effectively licensing blueprints that other companies use to design semiconductors.CNBC has reached out to Qualcomm regarding…
Hikers on layered sandstone rock formations in the Fire Wave area of Valley of Fire State Park near Overton, Nevada. Ron Buskirk | Universal Images Group | Getty ImagesThis report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.What you need to know todayOther than the Nasdaq, markets mostly fell U.S. markets were mixed Tuesday. The S&P 500 and Dow Jones Industrial Average dipped slightly but were close to the flatline. However, the Nasdaq Composite…
One of Capital One’s most rewarding cash-back credit cards has a new name and look. As of October 22, the no-annual-fee Capital One SavorOne Cash Rewards Credit Card has been rebranded as the Capital One Savor Cash Rewards Credit Card.Credit card refreshes are often accompanied by benefit or annual fee changes, but in this case, the only notable difference is a new name and card design. However, one new perk to be excited about is an increased welcome bonus for new cardholders.New Capital One Savor Cash Rewards Credit CardCapital One Savor Cash Rewards Credit CardRewardsEarn 8% cash back on Capital…
Republican presidential candidate Donald Trump dances for his supporters following a rally at East Carolina University on October 21, 2024 in Greenville, N.C. Ricky Carioti | The Washington Post | Getty ImagesDonald Trump’s campaign has accused British Prime Minister Keir Starmer’s Labour Party of “blatant foreign interference” in the U.S. presidential election after its volunteers travelled to the United States to help campaign for Kamala Harris.The campaign has filed a complaint with the Federal Election Commission in Washington, calling for an immediate investigation into what it called “apparent illegal foreign national contributions made by the Labour Party of the United Kingdom…
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 bounced off its lows of the morning and edged into positive territory Tuesday afternoon. The market is digesting a rising 10-year Treasury yield and the latest batch of corporate earnings. For the most part, the results continue to be better than expected but nevertheless are being met with disappointing reactions. Of the companies we closely follow, only steelmaker Nucor gave weak guidance. 3M and RTX…
