Employees stand inside a supermarket without lights in Burgos on April 28, 2025, during a massive power cut affecting the entire Iberian peninsula and the south of France.Cesar Manso | Afp | Getty ImagesSpanish grid operator REE’s failure to calculate the correct mix of energy was one of the factors hindering the grid’s ability to cope with a surge in voltage that led to the massive blackout across Spain and Portugal on April 28, a government investigation concluded.The report, made public on Tuesday, also blames power generators for the worst-ever blackout to have hit Spain and Portugal, since some conventional…
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Traders work at the New York Stock Exchange on June 17, 2025. NYSEU.S. stock futures inched higher early Wednesday as traders brace for the Federal Reserve’s rate policy decision due Wednesday afternoon.S&P 500 futures added 0.14%, while Nasdaq 100 futures ticked up 0.18%. Futures tied to the Dow Jones Industrial Average added 24 points, or 0.06%.In the face of mounting conflict between Israel and Iran, during Tuesday’s regular session the Dow Jones Industrial Average shed 299.29 points, or 0.70%. The S&P 500 slipped 0.84%, while the Nasdaq Composite lost 0.91%. Oil futures also ended the session up by more than…
Colorful display of All Star Converse sneakers in shoe store, Manhattan, New York. Lindsey Nicholson | Universal Images Group | Getty Images Would you be bothered if your coat was officially classified as a windbreaker or a raincoat, or your shoes as slippers? Businesses do care though, as classifications under a preferred category can help them pay lower tariff rates.As U.S. President Donald Trump imposes duties on friends and foes alike, manufacturers are increasingly rethinking the classification of their products and resorting to “tariff engineering” to incur lower duties, several customs lawyers, supply chain and shipping experts told CNBC.Tariff engineering…
Nintendo Co. Switch 2 game consoles at a Bic Camera Inc. electronics store in Tokyo, Japan, on Thursday, June 5, 2025. Nintendo Co. fans from Tokyo to Manhattan stood in line for hours to be among the first to get a Switch 2, fueling one of the biggest global gadget debuts since the iPhone launches of yesteryear. Kiyoshi Ota | Bloomberg | Getty ImagesNintendo shares hit a fresh record high on Wednesday, continuing this year’s massive rally that has been fueled by hype around the company’s newly released Switch 2 console.Shares of the Japanese gaming giant have jumped 46% this…
U.S. President Donald Trump steps off of Air Force One after arriving back at Joint Base Andrews on June 17, 2025 on Joint Base Andrews, Maryland. Trump said he left the G7 Leaders’ Summit a day early to return to Washington to try to deal with the conflict between Israel and Iran. Chip Somodevilla | Getty Images News | Getty Images Hopes of a quick ceasefire between Israel and Iran were dashed by several social media posts from U.S. President Donald Trump. As he took an early departure from the Group of Seven summit, Trump said it “certainly has nothing…
Gilts see muted reaction to UK inflation printU.K. government bonds, known as gilts, strengthened slightly after inflation came in in line with analysts’ expectations.The yield on the benchmark 10-year gilt was around 2 basis points lower by 7:07 a.m. in London. Yields on 2- and 20-year gilts were down by around 1 basis point, while 5- and 30-year gilt yields remained unchanged.Bond prices and yields move in opposite directions.— Chloe TaylorUK inflation cools to 3.4% in May, as expectedU.K. inflation cooled slightly to 3.4% in the year to May, data from Britain’s Office for National Statistics showed on Wednesday.The reading…
This report is from this week’s CNBC’s UK Exchange newsletter. Each Wednesday, Ian King brings you expert insights on the most important business stories from the U.K. and the key personalities shaping the news. The newsletter will also highlight other key developments in the U.K. that you won’t want to miss, plus a preview of essential events that are set to make waves. Like what you see? You can subscribe here.Her climbdown on denying millions of pensioners the winter fuel allowance was not the only U-turn announced by Rachel Reeves, the U.K.’s chancellor of the Exchequer, this month.Less significant in political…
Bags of potatoes grown in the United Kingdom at the D & F McCarthy Ltd. fresh fruit and vegetable wholesaler in Norwich, UK, on Tuesday, Feb. 28, 2023. An acute shortage of salad items on UK supermarket shelves has sparked a political debate, with some people in the industry blaming Brexit while others say its a smokescreen for different problems. Photographer: Chris Ratcliffe/Bloomberg via Getty ImagesBloomberg | Bloomberg | Getty ImagesThe U.K.’s annual inflation rate hit 3.4% in May, in line with analyst expectations, according to data released by the Office for National Statistics (ONS) on Wednesday.Core inflation, which excludes…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailOn today’s episode of CNBC Crypto World, bitcoin and other cryptocurrencies fall as tensions in the Middle East rise and investors digest weaker-than-expected U.S. economic data. Plus, the Senate gears up for a vote on the GENIUS Act stablecoin legislation. And Sandy Kaul, head of innovation at Franklin Templeton, discusses the firm’s new yield offering for intraday trades on its tokenization platform.11:34Tue, Jun 17 20253:00 PM EDT Source link
OpenAI CEO Sam Altman speaks during the Snowflake Summit in San Francisco on June 2, 2025.Justin Sullivan | Getty Images News | Getty ImagesMeta Platforms tried to poach OpenAI employees by offering signing bonuses as high as $100 million, with even larger annual compensation packages, OpenAI chief executive Sam Altman said.While Meta had sought to hire “a lot of people” from OpenAI, “so far none of our best people have decided to take them up on that,” Altman said, speaking on the “Uncapped” podcast, which is hosted by his brother.”I’ve heard that Meta thinks of us as their biggest competitor,”…
