Amazon founder Jeff Bezos speaks with John Elkann, CEO of Exor and chairman of Ferrari at Italian Tech Week on October 3, 2025.Arjun Kharpal | CNBCTURIN, Italy — Artificial intelligence is currently in an “industrial bubble” but the technology is “real” and will bring big benefits to society, Amazon Founder Jeff Bezos said on Friday.The term bubble usually refers to a period of inflated stock prices or valuations of companies that have disconnected from the fundamentals of a business. One of the most famous bubbles that burst was the 2000 dotcom crash where the value of internet companies plummeted.Exor CEO…
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Walmart-backed OnePay offers credit and debit cards, high-yield savings accounts, buy now, pay later loans and a digital wallet with peer-to-peer payments.Photo obtained from OnePay websiteOnePay, the fintech firm majority-owned by Walmart, will soon offer cryptocurrency trading and custody on its mobile app, CNBC has learned.OnePay will offer customers access to bitcoin and ether later this year with help from the startup Zerohash, according to people with knowledge of the matter who declined to be identified before an official announcement.The move shows that OnePay, founded by Walmart and venture firm Ribbit Capital in 2021, sees crypto as a core offering as…
Coinbase is poised outperform as cryptocurrencies become more integrated into financial services, according to Rothschild & Co. Redburn. The investment firm upgraded Coinbase to buy from neutral. Its price target of $417, up from $325, signals upside of 12.1% from Thursday’s close. “The evolving digital asset landscape holds significant opportunities and risks for investors,” analyst Nicholas Watts said Friday in a note to clients. He called the crypto exchange a “well-balanced play on broader digital asset adoption.” Strong digital asset trading volume and token market capitalization growth, particularly as institutional investors’ appetite for cryptocurrencies grows, will also boost the stock,…
Founded in 2022, ElevenLabs is an AI voice generation startup based in London. It competes with the likes of Speechmatics and Hume AI.Sopa Images | Lightrocket | Getty ImagesArtificial intelligence companies are the hottest ticket items in today’s startup ecosystem but the pace of change is dominated by developments at OpenAI and Anthropic. For startups building on top of their models, it’s sink or swim. With the U.S. currently surging ahead in the large language model (LLM) race, which demands huge checks, Europe’s opportunity lies in building tools that make AI useful, which is known as the application layer.”That’s also where…
Job fair signage as job seekers arrive at the Appalachian State University internship and job fair in Boone, North Carolina, US, on Wednesday, Oct. 1, 2025. Allison Joyce | Bloomberg | Getty ImagesUnemployment changed little in September, while layoff and hiring rates both slowed, according to separate labor market reports Thursday.The jobless level barely moved at 4.34%, according to a relatively new set of data indicators compiled by the Chicago Federal Reserve. That represented little change from August, though was just 0.01 percentage point away from moving up to 4.4%, the highest level since October 2021.In September, the central bank…
Richard Stephen | Istock | Getty ImagesSocial Security services during the shutdownLocal offices will remain open, but services will be reduced, according to the Social Security Administration.According to the agency, consumers can still:apply for benefitsrequest an appealchange address or direct deposit informationreport a deathverify or change citizenship statusreplace a lost or missing Social Security paymentobtain an expedited payment in an emergencychange a representative payee,obtain a new or replacement Social Security cardSSI beneficiaries will still be able to make changes to their living arrangements or income.Offices will be open for hearings before administrative law judges.However, certain in-person services will not be…
An aerial view of Chevron crews attempting to extinguish a large fire and explosion that occurred at Chevron Refinery in El Segundo Thursday, Oct. 2, 2025.Allen J. Schaben | Los Angeles Times | Getty ImagesA huge fire broke out on Thursday night at a Chevron jet fuel production unit in California, one of the largest refineries on the U.S. west coast, following reports of an explosion.No injuries were reported from the incident at the El Segundo plant, Chevron said on Friday, with the U.S. energy major’s fire department personnel and emergency services “actively responding” to the situation.It was not immediately…
European stocks opened higher on Friday, building on momentum that has pushed regional indexes higher this week.The pan-European Stoxx 600 was 0.4% higher by 8:20 a.m. in London (3:19 a.m. ET), having added 0.5% in Thursday’s session after reaching a record high earlier in the day. It marked the index’s fifth consecutive day of gains and put it on course to end the week up over 2%.Major bourses across the region moved higher in early trade on Friday. London’s FTSE 100 index — which also hit an all-time high earlier this week — was last seen trading 0.3% higher, while…
The AI boom is turbo-charging technology stocks, pushing the S & P 500 , the Nasdaq and Dow Jones to fresh record highs. But Karim Moussalem, chief investment officer of equities at Selwood Asset Management, sees “enormous risks” on the horizon for the AI trade which could rapidly unravel — and he is positioning his fund for the fallout. “The AI trade is beginning to resemble one of the great speculative manias of market history,” Moussalem, who runs a market-neutral equity strategy at the London-based hedge fund, said in a post on LinkedIn . “For me, there is no denying…
Russian President Vladimir Putin speaks during an annual plenary session of the Valdai Discussion Club, on October 2, 2025 in Sochi, Russia.Contributor | Getty Images News | Getty ImagesRussian President Vladimir Putin warned the potential supply of long-range missiles to Ukraine would mark a “completely new stage of escalation” between Washington and Moscow.Speaking on Thursday at a forum in Russia’s Black Sea resort of Sochi, Putin conceded that the supply of “powerful” U.S. Tomahawk cruise missiles to Kyiv posed a threat to Russia but would not change the situation on the battlefield.”Can Tomahawks harm us? They can. But we will…
