David Sherman | National Basketball Association | Getty ImagesFour years after starting the process to take over, Marc Lore and Alex Rodriguez are officially in charge of the Minnesota Timberwolves.The NBA Board of Governors unanimously approved the sale on Tuesday of the controlling interests in both the Timberwolves and the WNBA’s Minnesota Lynx from Glen Taylor, whose ownership of the Timberwolves comes to an end after 31 years.In a $1.5 billion transaction that is expected to close this week, Lore and the three-time Major League Baseball MVP Rodriguez will serve as co-chairmen. Lore will sit as the Timberwolves’ governor while Rodriguez will become alternate governor. Those roles flip for…
Author: usaeverydaylife
Crypto prices, including bitcoin, rose on Tuesday after President Trump announced a ceasefire between Iran and Israel.By midday Tuesday, bitcoin had passed the $105,000 level, ether jumped back above the $2,400 mark, and XRP climbed to $2.19. The risk-on action in the markets, which also saw stocks rally on the Mideast de-escalation, wasn’t the only source of momentum, as Republican senators unveiled a major bill to set the rules of the road for crypto. Specifically, the legislation would define when crypto is a commodity or a security, allow crypto exchanges to register with the Commodity Futures Trading Commission, and reduce the…
OpenAI Co-Founder and CEO Sam Altman speaks at Snowflake Summit in San Francisco on June 2, 2025.Justin Sullivan | Getty Images News | Getty ImagesOpenAI CEO Sam Altman on Tuesday criticized a lawsuit filed by hardware startup Iyo, which accused his company of trademark infringement.Altman said, in response to the suit, that Iyo CEO Jason Rugolo had been “quite persistent in his efforts” to get OpenAI to buy or invest in his company. In a post on X, Altman wrote that Rugolo is now suing OpenAI over the name in a case he described as “silly, disappointing and wrong.”The suit,…
The final trades of the day with CNBC’s Melissa Lee and the Fast Money traders. Source link
Traders work at the New York Stock Exchange on June 18, 2025. NYSES&P 500 futures are near flat Tuesday night as investors watch to see if the benchmark index can return to its all-time high.Futures tied to the broad index ticked down 0.1%, as did Nasdaq 100 futures. Dow Jones Industrial Average futures lost 34 points, or 0.1%.The S&P 500 jumped more than 1% in Tuesday’s session as oil prices fell on bets that the ceasefire between Iran and Israel could last. With that gain, the index now sits less than 1% off its record high.The Nasdaq Composite also popped…
A FedEx truck on Cyber Monday in San Francisco, California, US, on Monday, Dec. 2, 2024. David Paul Morris | Bloomberg | Getty ImagesFedEx reported better-than-expected quarterly earnings and revenue Tuesday as the company announced it had achieved its $4 billion cost-cutting goal and will aim to trim another $1 billion in its upcoming fiscal year.The company achieved its “structural cost reduction target, in the face of ongoing headwinds,” CEO Raj Subramaniam said in a media release.”Looking ahead, I’m confident that our transformation initiatives, which are focused on integrating our networks and further reducing our cost-to-serve, will create meaningful long-term value,”…
(This is a wrap-up of the key money moving discussions on CNBC’s “Worldwide Exchange” exclusive for PRO subscribers. Worldwide Exchange airs at 5 a.m. ET each day.) Investors are looking for opportunities in the oil and natural gas space. They are also eyeing a tailwind for defense stocks in President Donald Trump’s spending bill. Worldwide Exchange Pick: EOG Resources Patrick Fruzzetti of Rose Advisors said EOG Resources is a good buy despite the decline in oil prices. “It’s a premium driller with a great balance sheet, good assets they have been in West Texas for a long time, they are…
The ‘Fast Money’ traders talk market reaction to Fed Chair Powell’s testimony. Source link
A Boeing Dreamliner 787-9, operated by Riyadh Air, at the Paris Air Show in Paris, France, on Monday, June 16, 2025. Nathan Laine | Bloomberg | Getty ImagesThe heroic actions of the crew of Alaska Airlines flight 1282 ensured everyone survived last year when a door plug panel flew off the plane shortly after takeoff, leaving a gaping hole that sucked objects out of the cabin, National Transportation Safety Board Chair Jennifer Homendy said Tuesday.But Homendy said “the crew shouldn’t have had to be heroes, because this accident never should have happened.” The board found that lapses in Boeing’s manufacturing…
Christina Goldbaum, a New York Times reporter, and Katrin Bennhold, a senior writer on the international desk, discuss how the power dynamics in the Middle East could change as Iran has become more isolated. Source link
