business news
Bitcoin (BTC) price falls after Tesla stops car purchases with crypto
Artur Widak | NurPhoto | Getty Images GUANGZHOU, China — Hundreds of billions of dollars were wiped off the entire cryptocurrency market after Tesla CEO Elon Musk tweeted that the electric vehicle maker would suspend car purchases using bitcoin. At around 6:06 a.m. Singapore time on Thursday when Musk made the announcement, the value of …
UK economy contracted by 1.5% in the first quarter
Commuters walk along the Thames Path in view of Tower Bridge in London, U.K., on Monday, Dec. 14, 2020. Hollie Adams | Bloomberg via Getty Images LONDON — The U.K. economy contracted by 1.5% in the first quarter of 2021 as nationwide lockdown measures continued to weigh on activity, preliminary estimates revealed on Wednesday. Economists …
Germany’s move to EVs to affect thousands of workers, new study says
The underbody of an ID.3. electric vehicle being worked on at a Volkswagen facility in Dresden, Germany, on January 29, 2021. Matthias Rietschel | picture alliance | Getty Images The shift to electric vehicles could affect thousands of workers in Germany over the coming years, the Munich-based Ifo Institute said Thursday. The Ifo’s study, which …
Peloton delays May launch of its less expensive treadmill in the U.S.
Peloton introduces a treadmill to their product line. Emily Gaffney | CNBC Peloton said Thursday it will delay the launch of its Tread machine in the United States, until new safety features are added. The new, less expensive treadmill was set to go on sale May 27. It had already been available in Canada and …
U.S. backs waiving patent protections for Covid vaccines, citing global health crisis
WASHINGTON — The Biden administration announced Wednesday that it supports waiving intellectual property protections for Covid-19 vaccines, as countries struggle to manufacture the life-saving doses. “This is a global health crisis, and the extraordinary circumstances of the COVID-19 pandemic call for extraordinary measures. The Administration believes strongly in intellectual property protections, but in service of ending this …
When Warren Buffett is no longer Berkshire CEO, Greg Abel will succeed him
For the millions of people who tuned into the Berkshire Hathaway annual meeting, careful viewers were rewarded with an unexpected bit of news: who will be the next CEO of the company. In response to a question on Saturday about whether the company would eventually be too complex to manage, Berkshire Vice Chairman Charlie Munger …
U.S. investigating peculiar attacks with hallmarks of ‘Havana syndrome’ near White House
Federal agencies are investigating at least two mysterious incidents on U.S. soil with some hallmarks of the “Havana syndrome.” Lawmakers on the House and Senate Armed Services Committee confirmed to NBC News on Thursday that they were briefed in April on the investigation. In 2016, U.S. diplomats and their support staff stationed in Havana reported …
India Covid crisis: Death toll surpasses 200,000
A patient wearing an oxygen mask is wheeled inside a COVID-19 hospital for treatment, amidst the spread of the coronavirus disease (COVID-19) in Ahmedabad, India, April 26, 2021. Amit Dave | Reuters India reported a record daily death toll on Wednesday as total Covid-19 fatalities crossed the 200,000 mark. Government data showed at least 3,293 …
10-year Treasury yields will break out of slump in weeks: Wells Fargo
The 10-year Treasury Note yield may be on the verge of breaking out of its slump. After stabilizing over the past several weeks, Wells Fargo Securities’ Michael Schumacher predicts the current risk backdrop will re-energize yields in the coming weeks. He lists the Federal Reserve’s high level of comfortableness surrounding rising inflation, the massive amount …
Medical experts share travel options for vaccinated people
The U.S. Centers for Disease Control and Prevention cleared vaccinated Americans to travel again, but some immunized travelers remain on the fence about making summer plans. Is it finally safe to fly? What about visiting unvaccinated relatives or traveling with young children? CNBC Global Traveler asked medical professionals — all of whom are …
