President Donald Trump arrives to speak on his plan to end tax on tips in Las Vegas, Jan. 25, 2025.Mandel Ngan | Afp | Getty ImagesPresident Donald Trump’s “big beautiful bill” includes a section called “no tax on tips” — an idea that both Republicans and Democrats floated during the 2024 campaign.Now that the provision has been enacted, questions remain about how the tax break works and who qualifies.Despite its name, “no tax on tips” doesn’t eliminate tax on tips, which are still subject to payroll and state taxes. Instead, it’s a deduction worth up to $25,000. The tax break…
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House Speaker Mike Johnson, R-La., said Friday that he and House Republicans want “maximum transparency” on notorious sex offender Jeffrey Epstein and called for more information to be made public.”Everybody wants the Epstein files, which is the real documents related to Jeffrey Epstein, Ghislaine Maxwell and anybody associated with that. We want the American people to see it,” Johnson said on CNBC’s “Squawk Box.”The speaker also insisted that President Donald Trump shares this view. “What I believe in is maximum transparency, and so does President Trump,” said Johnson.The comments came after the Wall Street Journal revealed the existence on Thursday of…
Here are some of the names making big moves in midday trading. Talen Energy – Shares popped more than 23%. Talen said that it has signed agreements to acquire Moxie Freedom Energy Center in Pennsylvania and the Guernsey Power Station in Ohio – a pair of combined-cycle gas-fired plants. The deal comes out to $3.5 billion after adjusting for estimated tax benefits. Shares of data center power plays Constellation Energy and Vistra added more than 5% in sympathy. Invesco – The asset manager’s share price jumped 12%. Bloomberg News reported that Invesco is asking shareholders of its popular Invesco QQQ…
Shares of smid-cap online sports data and gaming company Genius Sports (GENI) are toying with a potential breakout-type move to new 52-week highs — up and out of the tight range in which they’ve been trading since March. The two charts below tell the tale. We’re buyers, with a price objective above $15 per share. DISCLOSURES: none All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE…
Douglas Ingram, president and chief executive officer of Sarepta Therapeutics Inc., during the Forbes Healthcare Summit in New York, US, on Tuesday, Dec. 5, 2023. Michael Nagle | Bloomberg | Getty ImagesShares of Sarepta Therapeutics plunged more than 30% on Friday as the future of its approved gene therapy treatment appeared at risk.The Food and Drug Administration will request that the company voluntarily stop all shipments of the treatment, Elevidys, a person familiar with the matter told CNBC.Separately, FDA Commissioner Marty Makary told Bloomberg News the agency is considering whether the company’s gene therapy should stay on the market.The FDA…
Ranking member Sen. Richard Durbin, D-Ill., arrives for the Senate Judiciary Committee hearing in Dirksen building on Tuesday, June 17, 2025. Tom Williams | CQ-Roll Call, Inc. | Getty ImagesFBI agents assigned earlier this year to review investigative files in the criminal case against notorious sex offender Jeffrey Epstein were instructed to “flag” any documents that mentioned President Donald Trump, Sen. Richard Durbin said Friday.Durbin’s claim came as the Illinois Democrat sent the Justice Department and FBI letters asking them to explain what his office called “apparent discrepancies regarding the handling of the Epstein files and findings from a July 7 Department…
US President Donald Trump speaks during a meeting with Bahraini Crown Prince Salman bin Hamad al-Khalifa in the Oval Office of the White House in Washington, DC, on July 16, 2025.Andrew Caballero-Reynolds | AFP | Getty ImagesU.S. President Donald Trump is demanding a minimum of 15-20% tariffs on imports from the European Union, the Financial Times reported Friday, citing sources.According to three people briefed on trade talks between the U.S. and the bloc, Trump has escalated his demands following weeks of negotiations over a possible framework deal, the paper said.How the EU is preparing to reach a tariff deal in…
People shop at a Manhattan retail store on July 15, 2025 in New York City. Spencer Platt | Getty ImagesConsumers’ worst fears about tariff-induced inflation have receded, though they are still wary of price increases to come, according to a University of Michigan survey Friday.The university’s closely watched Survey of Consumers for July showed overall sentiment increased slightly, rising 1.8% from June to 61.8, exactly in line with the Dow Jones consensus estimate and at its highest level since February. Questions on current conditions and future expectations produced monthly gains as well.On inflation, the outlook at the one- and five-year…
The Federal Reserve building is seen as it goes under construction on July 17, 2025 in Washington, DC. U.S. Michael M. Santiago | Getty ImagesPresident Donald Trump has looked to the marble finishes and hefty price tag of the Federal Reserve headquarters to claim grounds to fire Chair Jerome Powell, with whom he has tussled for years over interest rates. But the extensive use of marble in the building is, at least in part, the result of policies backed by Trump himself.As the Fed moved forward with plans to renovate its Great Depression-era headquarters in Washington during Trump’s first term, it faced…
Jakub Porzycki | Nurphoto | Getty ImagesMeta Platforms declined to sign the European Union’s artificial intelligence code of practice because it is an overreach that will “stunt” companies, according to global affairs chief Joel Kaplan.”Europe is heading down the wrong path on AI,” Kaplan wrote in a post on LinkedIn Friday. “This code introduces a number of legal uncertainties for model developers, as well as measures which go far beyond the scope of the AI Act.”Last week, the European Commission published a final iteration of its code for general-purpose AI models, leaving it up to companies to decide if they…
