Meta loses $200 billion in value as Zuckerberg focuses earnings call on all the ways company bleeds cash

Meta CEO Mark Zuckerberg spooked investors on the company's quarterly earnings call Wednesday.

Why the Fed keeping rates higher for longer may not be such a bad thing

It's a tough case to sell that higher interest rates today are having a substantially negative impact on the course of the economy.

China may have to brace for a new wave of bond defaults, S&P says

China might see a new wave of bond defaults as soon as next year — the third round in about a decade, according to an S&P Global Ratings report released Tuesday.

Nvidia supplier SK Hynix reverses losses in first quarter on explosive AI demand

This comes after SK Hynix posted net losses for five consecutive quarters from a slump in the memory chip market.

Geely-backed luxury EV brand Zeekr says it's already beating Tesla in parts of China

EV brand Zeekr is selling more cars than Tesla in parts of China, and plans to expand in Europe and Latin America this year, Zeekr CEO Andy An told CNBC.

Biden signs Israel, Ukraine, TikTok bill into law

TikTok vowed to legally challenge the measure if President Joe Biden signed it into law.

'Chaotic era' for Asian currencies: Bank of America is not bullish on any of them

The Bank of America is not bullish no any currency in Asia, leading the investment bank to deem the start of a "chaotic era" for these currencies.

This 35-year-old had 5 failed businesses before starting her grocery store chain – now it brings in over $8 million a year

Success didn't come easy for Pang Gek Teng, the 35-year-old founder and CEO of Surrey Hills Grocer, an Australian-inspired grocer and café brand in Singapore.

Elon Musk is keeping investors' dreams of a Tesla robotaxi alive

Tesla CEO Elon Musk continues to promise investors that autonomy is in the company's future even as financials deteriorate.

Bird flu resurgence drives up egg prices, spurring some to stock up

The virus, commonly referred to as bird flu, is extremely contagious and lethal among birds, has been detected in dairy herds in recent days.

JPMorgan Chase is caught in U.S-Russia sanctions war after overseas court orders $440 million seized from bank

The escalation shows how American banks are struggling to navigate American sanctions rules more than two years after Russia's invasion of Ukraine.

U.S. prosecutors seek 36-month sentence for ex-Binance CEO Changpeng Zhao

U.S. prosecutors on Tuesday recommended an above-guidance, 36-month sentence for former Binance CEO Changpeng Zhao.

Ford tops first-quarter earnings estimates as commercial unit offsets EV losses

Sales of Ford Motor trucks and other commercial vehicles led the automaker to beat Wall Street's earnings estimates for the first quarter.

Amazon is opening cloud regions in Southeast Asia to meet customer demand, CTO says

From startups to government agencies, Amazon CTO Werner Vogels said customers "have been asking" for local data residency.

China's Xiaomi is selling more EVs than expected, raising hopes it can break even sooner

Chinese smartphone company Xiaomi aims to sell at least 10,000 pure electric cars a month, for more than 100,000 deliveries this year, said CEO Lei Jun.

Rubrik prices IPO at $32 per share, above the expected range

Rubrik is hitting the market at a historically slow time for venture-backed tech IPOs.

TikTok creators fear for their livelihoods after U.S. lawmakers pass bill that could lead to ban

A TikTok ban could take years due to potential legal challenges, but creators worry about how they'll make a living if it goes away.

IBM to acquire HashiCorp in $6.4 billion deal, reports another revenue miss

IBM said it would buy HashiCorp, a cloud software maker that's growing at a faster pace. IBM reported its third revenue miss in five quarters.

Chipotle posts big earnings beat as diners shake off higher prices

The burrito chain said traffic increased 5.4% in its first quarter.

Senate launches investigation into high prices of Ozempic and Wegovy in the U.S.

Before insurance, Novo Nordisk charges about $1,000 per month for Ozempic in the United States. In Germany, the company charges $59 per month for the same drug.

NASA releases satellite photos of Dubai and Abu Dhabi before and after record flooding

The deluge closed schools and businesses, grounded hundreds of flights, and destroyed cars, businesses and other property.

Klarna scores major payment deal with Uber ahead of hotly anticipated IPO 

The global deal will see Klarna added as a payment option on the Uber and Uber Eats apps in the U.S., Germany and Sweden. 

UBS chair says Swiss banking giant is not 'too big to fail'

Colm Kelleher also said UBS was one of the best-capitalized banks in Europe at the UBS Annual General Meeting.

Riderless horses recovered after running loose through London; ‘a number’ of people injured

The U.K. army on Wednesday said they had recovered "a number" of military working horses after the animals broke free during a routine exercise.

Kering shares sink 9% after profit warning on declining Gucci sales

Shares of French luxury group Kering sank more than 9% Wednesday after the company warned it expects a sharp downturn in first-half profits as demand for its Gucci brand continues to wane.

Volvo Cars shares down 8% as first-quarter revenues fall

Swedish automaker Volvo Cars on Wednesday reported an uptick in first-quarter core operating profits driven by strong retail sales.

Give us your nominations: CNBC is listing the world’s top fintech companies

For a second year, CNBC and Statista are working together to identify the top global fintech names. We're also opening nominations for the top insurtech firms.

Tesla shares jump 13% after Musk says company aims to start production of affordable new EV by early 2025

Tesla reported disappointing earnings and revenue, but the stock rose on optimism that a new affordable EV model could enter production sooner than expected.

Photos show Sahara dust turn Athens orange

Athens and the south of Greece appeared to be coloured in orange and red after dust from the Sahara engulfed the city on Tuesday evening.

‘A real wildcard’: World’s largest wealth fund issues inflation warning on hot commodity markets

The chief executive of the world's largest wealth fund says there are many wildcards in financial markets right now.


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