Changpeng Zhao, former chief executive officer of Binance, arrives at federal court in Seattle, Washington, US, on Tuesday, April 30, 2024. David Ryder | Bloomberg | Getty ImagesPresident Donald Trump has pardoned Binance founder Changpeng Zhao, who had previously pleaded guilty to enabling money laundering while heading the cryptocurrency exchange, the White House said Thursday.The pardon of Zhao, widely known as CZ, came two months after The Wall Street Journal reported that the Trump family’s own crypto venture, which has generated about $4.5 billion since the 2024 election, has been helped by “a partnership with an under-the-radar trading platform quietly administered…
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US Secretary of Commerce Howard Lutnick speaks at a business reception at Lancaster House in central London, with attendees including government ministers from both the UK and US and representatives from major UK companies, as part of the second state visit to the UK by US President Donald Trump. Picture date: Thursday Sept. 18, 2025. Jordan Pettitt | Via ReutersThe U.S. government is not in talks with quantum computing companies to take equity stakes in the firms in exchange for federal funding, a Commerce Department official told CNBC.”The Commerce Department is not currently negotiating equity stakes with quantum computing companies,”…
A Rivian R1S electric vehicle (EV) at a dealership and service center in San Francisco, California, US, on Tuesday, June 3, 2025. David Paul Morris | Bloomberg | Getty ImagesDETROIT – Rivian Automotive reportedly plans to lay off more than 600 people as the all-electric vehicle maker faces growing market challenges.The Wall Street Journal, which first reported the plans, said the layoffs will affect roughly 4% of the company’s workers. Rivian had just under 15,000 employees at the end of last year.A source familiar with the plans confirmed the layoffs to CNBC and said additional details are set to be…
A Ford logo on a Ford F-150 pickup truck for sale in Encinitas, California, U.S. Oct. 20, 2025. Mike Blake | ReutersDETROIT – Ford Motor is set to announce third-quarter earnings after the markets close Thursday.Here’s what Wall Street expects, based on average analysts’ estimates compiled by LSEG:Earnings per share: 36 cents adjustedAutomotive revenue: $43.08 billionThose results would mark revenue that’s in line with a year earlier and a 26% drop in adjusted earnings per share. Ford’s third-quarter 2024 results included $43.07 billion in automotive revenue, net income of $896 million and adjusted earnings before interest and taxes of $2.55…
Meme stocks redux! Several stocks, many with high short-interest, traded huge option volumes Wednesday. High short interest was a characteristic some speculators used to identify opportunities in the meme stock craze of early 2021. During that period, stocks like GameStop (GME) and AMC Entertainment (AMC) experienced huge moves, and participants on Reddit’s WallStreetBets forum, like Roaring Kitty, became famous (or infamous). Betting on meme stocks can be exciting — the adrenaline rush of watching volatile price swings, the camaraderie of online forums and the prospect of quick profits can make it feel like entertainment more than investing. That’s probably a…
Money Singh wasn’t excited about his move to San Francisco from Punjab, India, at age 19 in 2006.”I was [depressed] for that one year. I wanted to go back,” says Singh, now 38, adding: “Socially, I was very alone.”He initially attended college in the Bay Area, but dropped out after some of his credits from school in India didn’t transfer over, he says. His mom urged him to find a job quickly, so he worked a short stint at a local drugstore, then as a dispatcher for his uncle’s cab company making around $6 per hour, he says.Singh spent the…
CrowdStrike CEO George Kurtz pushed back on the narrative that artificial intelligence makes cloud-based software obsolete. “I don’t really buy that,” Kurtz told CNBC’s Jim Cramer on ” Squawk on the Street ” on Thursday morning. “I think you need software in order to be able to protect AI. They’re interrelated. It’s not like you just have one without the other.” That core argument of AI killing software is two-fold and has been developing ever since agentic AI – a new class of autonomous agents – has gained traction as a more automated way to operate a business. First, the…
An exit sign is seen above U.S. President Donald Trump as speaks with reporters aboard Air Force One. Saul Loeb | Afp | Getty ImagesThinking about selling your small business in a few years? The One Big Beautiful Bill Act could mean millions more in your pocket.President Donald Trump’s signature legislation, enacted in July, has significantly expanded the benefits of qualified small business stock, shares in an eligible small business that are subject to special capital gains tax rules. More businesses are now eligible to convert to a C corp to qualify for favorable tax treatment. While this is likely…
(This is The Best Stocks in the Market , brought to you by Josh Brown and Sean Russo of Ritholtz Wealth Management.) Josh — On August 28th we told you about a breakout in progress for Interactive Brokers , which had been hanging around on our list of the Best Stocks in the market for a while without having made its move yet. The stock ran from the low $60s into the low $70s over the next six weeks. I wanted to call your attention back to IBKR on the heels of its latest earnings report because I think we…
An ‘Open House’ sign is posted near a single family home for sale on Aug. 22, 2025 in Pasadena, California. Mario Tama | Getty ImagesSales of previously owned homes rose 1.5% in September from August to a seasonally adjusted, annualized rate of 4.06 million units, according to the National Association of Realtors. That is slightly less than the analysts were forecasting, but the highest pace in seven months.Sales were 4.1% higher compared with September of last year.Regionally, on an annual basis, sales were strongest in the South and Northeast. From August, sales were strongest in the West and actually fell…
