Signage at 23andMe headquarters in Sunnyvale, California, U.S., on Wednesday, Jan. 27, 2021.David Paul Morris | Bloomberg | Getty ImagesThe House Committee on Energy and Commerce is investigating 23andMe’s decision to file for Chapter 11 bankruptcy protection and has expressed concern that its sensitive genetic data is “at risk of being compromised,” CNBC has learned.Rep. Brett Guthrie, R-Ky., Rep. Gus Bilirakis, R-Fla., and Rep. Gary Palmer, R.-Ala., sent a letter to 23andMe’s interim CEO Joe Selsavage on Thursday requesting answers to a series of questions about its data and privacy practices by May 1. The congressmen are the latest government officials to…
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Cityscape at sunset on March 4, 2024 in Istanbul, Turkey.Dia Images | Getty Images News | Getty ImagesTurkey’s central bank surprised markets on Thursday when it raised its key interest rate, the one-week repurchase rate, from 42.5% to 46%, ending the easing cycle it began in December of last year.The decision comes on the back of economic disruption due to U.S. tariffs and major political unheaval and investor flight following the arrest of Istanbul mayor and opposition leader Ekrem Imamoglu in March.”The decisiveness regarding tight monetary stance is strengthening the disinflation process through moderation in domestic demand, real appreciation in…
Citigroup sees a bright future ahead for shares of emergency power provider Generac Holdings . Analyst Vikram Bagri upgraded the Wisconsin-based energy manufacturer to a buy rating from neutral in a npte released Thursday. Bagri’s share price target of $138 implies that Generac could rise 25% from current levels. Generac has slumped 31% in the past three months, leaving it at a “significant discount” versus historical multiples. GNRC 3M mountain GNRC has slumped in 3 months. “While we are lowering our PT and estimates, GNRC has experience successfully managing through tariffs under Trump 1.0 and through recessionary environments,” Bagri wrote.…
Some people would jump at the opportunity to sell their startup for eight figures. Not Marc Randolph and Reed Hastings.During Netflix’s early days, its two co-founders got a call that Jeff Bezos wanted to meet them, Hastings said on a December episode of the “First Time Founders with Ed Elson” podcast. After arriving at the company’s headquarters in Seattle, it was clear that Bezos wanted to buy Netflix to jump-start Amazon’s entry into the video market, Hastings said.”It never got to, like, a formal offer. It was sort of exploratory,” he added. The year was 1998, and Bezos’ team offered Netflix…
Liquor bottles are displayed at a store on the outskirts of New Delhi on April 3, 2025. Money Sharma | Afp | Getty ImagesThis report is from this week’s CNBC’s “Inside India” newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. Like what you see? You can subscribe here.The big storyAmerica’s trade war with the rest of the world threatens to shake up long-held alliances, disrupt global supply chains, and reinvent methodologies for calculating the appropriate level of reciprocal tariffs. Now add another entry to the list of economic…
Check out the companies making headlines before the bell: Hertz — Shares of the rental car company soared nearly 16%, extending the gains seen in the previous session. On Wednesday, the stock skyrocketed more than 56% after Bill Ackman’s Pershing Square disclosed that it had taken a sizable stake in the name. UnitedHealth — The stock plunged more than 19% after the insurer’s first-quarter results missed analysts’ estimates. UnitedHealth reported adjusted earnings of $7.20 per share on revenue of $109.58 billion, below the $7.29 in earnings per share and $111.60 billion that analysts surveyed by LSEG were looking for. The…
UBS now sees less upside for Nvidia following the company’s warning. Earlier this week, Nvidia said it will record a $5.5 billion charge tied to exporting H20 graphics processing units to China, among other destinations. Nvidia said in a regulatory filing that the U.S. government informed the company it would require a license to export the chips to several countries, including China. This led UBS to lower its price target for Nvidia to $180 from $185. Analyst Timothy Arcuri’s new forecast still implies a 72% upside for the stock. “Following our initial take on the newly issued licensing requirements for…
The European Central Bank is expected to make yet another interest rate cut Thursday as global tariff turmoil has created widespread uncertainty and spurred fears about the euro zone’s economic growth.A rate cut is being fully anticipated by markets, with an around 94% chance of a 25-basis-point trim being priced in, according to LSEG data.That would take the ECB’s deposit facility rate, its key rate, to 2.25%. At its highs in mid-2023 it had been at 4%.Tariff developments in recent weeks are widely seen as a key reason for the ECB to cut interest rates. Even though many of the…
Sen. Elizabeth Warren, D-Mass., conducts a news conference in the U.S. Capitol to voice opposition to the Senate Republicans’ budget resolution on April 3, 2025.Tom Williams | CQ-Roll Call, Inc. | Getty ImagesDozens of Democratic lawmakers are warning that President Donald Trump’s tariff-heavy trade agenda is quickly starting to resemble a “corrupt scheme to enrich administration officials and those loyal to them.”The Trump administration’s tumultuous rollout of a spate of new tariffs is “rife with opportunities to unduly influence President Trump and other administration officials,” the Democratic lawmakers wrote in a letter shared first with CNBC on Thursday.The letter, signed…
President Donald Trump and Russian President Vladimir Putin shake hands as they hold a joint news conference after their meeting in Helsinki, Finland, July 16, 2018.Leonhard Foeger | ReutersRussia escaped unscathed from President Donald Trump’s trade tariffs unveiled earlier this month, but the Kremlin says Moscow is not immune from the economic aftershocks that could ensue in a potential global trade war.”Of course, instability in the global economy cannot but affect Russia,” Kremlin Press Secretary Dmitry Peskov told CNBC on Wednesday, according to a Google translation.”At the same time, we manage to maintain macroeconomic stability even in the face of…
