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Apollo and Sony have sent a letter to the Paramount board expressing formal interest in doing a $26 billion takeover of the company.A Skydance consortium could hear from a Paramount special committee on a recommendation of next steps as soon as Thursday, according to people familiar with the matter.Some Paramount in...

A National Labor Relations Board judge found Amazon CEO Andy Jassy broke labor law by suggesting employees would be "less empowered" if they voted in a union.The judge cited interviews Jassy gave to CNBC, Bloomberg and The New York Times in 2022.The interviews coincided with an upswing in organizing activity in Amaz...

The wealth gap between rich millennials and the rest of their age group is the largest of any generation, creating a new wave of class tension and resentment, according to a study.While the average millennial has less wealth at the age of 35 than previous generations, the top 10% of millennials have 20% more wealth ...

HashiCorp software helps organizations manage cloud infrastructure and security credentials.The company's revenue jumped almost 23% in the most recent fiscal year, compared with 2% for IBM. HashiCorp at the Nasdaq MarketSite on Dec. 9, 2021.Source: NasdaqHashiCorp shares jumped almost 20% on Tuesday following a medi...

In Los Angeles, the Homelessness Prevention Program uses predictive AI to identify individuals and families at risk of becoming homeless, offering aid to help them get stabilized and remain housed.Launched in 2021, the program has helped serve nearly 800 individuals and families at risk of becoming homeless, with 86...

Photo Of Robot Examining Invoice With Magnifying Glass.Andreypopov | Istock | Getty ImagesEven as the IRS makes headlines for cracking down on the wealthy, state tax collectors have become even more aggressive with audits of high earners, according to tax attorneys and accountants.In New York, the tax department rep...

President Joe Biden's new plan to "cancel runaway interest" on student loans may reach as many as 25 million borrowers.It is the provision that might prove to be the most wide-reaching of the president's revised relief program, which he hopes will stand up to any legal challenges this time.U.S. President Joe Biden s...

The wealthy are building "passport portfolios" — collections of second, and even third or fourth, citizenships — in case they need to flee their home country.Recent high-profile examples of second citizenships include billionaire tech investor Peter Thiel, who added a citizenship in New Zealand, and former Google CE...

Elon Musk, Chief Executive Officer of Tesla and owner of X, formerly known as Twitter, attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition center in Paris, France, June 16, 2023. Gonzalo Fuentes | ReutersTesla will reveal its robotaxi product on Aug. 8, C...

Google filed a lawsuit on Thursday against a group of crypto scammers, alleging they defrauded more than 100,000 people globally.Google says it's the first among its peers to take action against crypto scammers.The company aims to use the litigation as a way to set legal precedents to protect its users.Google filed ...

Tesla shares plunged 29% in the first quarter, the worst period for the stock since the end of 2022 and the third-steepest quarterly drop on record.Investors are concerned about auto sales as the company faces increased competition from China and disruptions in Europe.According to data from S3 Partners, Tesla shorts...

Bruce Carnegie-Brown, chair of insurance giant Lloyd's of London, told CNBC that the payout from the Baltimore bridge collapse and its knock-on effects could be "the largest-ever marine insured loss."He added that it would still be within the "realistic disaster scenario planning" of the insurance and reinsurance in...

Saudi Aramco CEO Amin Nasser said the current energy transition strategy is failing.The world should give up on the idea of phasing out oil and gas, Nasser said.The CEO called for a reset of the strategy that focuses on reducing emissions, not phasing out oil and gas. Amin Nasser, CEO of Saudi Aramco, speaks at the ...

"For real estate companies that are seriously insolvent and have lost the ability to operate, those that must go bankrupt should go bankrupt, or be restructured, in accordance with the law and market principles," Ni Hong, Minister of Housing and Urban-Rural Development, said at a press conference Saturday.That's acc...

Reuters and The Wall Street Journal reported on Wednesday that the bank was looking to outside investors for cash to shore up its balance sheet.Shares of the bank were already down sharply the day before the reports.A cash infusion would be the latest development in a turbulent start to the year for NYCB, which repl...

Omar Marques | Lightrocket | Getty ImagesAnthropic on Monday debuted Claude 3, a suite of artificial intelligence models that it says are its fastest and most powerful yet. The new tools are called Claude 3 Opus, Sonnet and Haiku.The company said the most capable of the new models, Claude 3 Opus, outperformed OpenAI...

By Sherin Shibu • Feb 26, 2024 Going to medical school comes at a cost — the average med school grad owes $250,995 in total student loan debt, not including any debt taken on in undergrad. Students at the Albert Einstein School of Medicine in Bronx, New York are no exception to this trend, with nearly half owing mor...

Of the 61 companies that took part in a six-month four-day working week pilot in 2022, at least 54 (89%) said the policy was still in place, while 31 firms (51%) said they had permanently switched to a shorter working week.The companies involved were invited to take part in a follow-up study one year on from the wor...

The X social media platform on Tuesday restored the account of Yulia Navalnaya, the widow of Russian opposition leader Alexei Navalny, after a brief suspension.It was not immediately clear why Navalnaya's account was suspended in the first place.Upon contacting the X press team, CNBC received an automated response o...

The West is suffering a "colossal failure of imagination" in thinking Russia's war in Ukraine will not hit them next, defense policymakers heard at Munich Security Conference."The sense of urgency is simply not clear enough," Danish Prime Minister Mette Frederiksen said, joining European leaders in calling for more ...

Chuck Robbins, Cisco CEO & Chairman, at the WEF in Davos, Switzerland on May 25th, 2022.Adam Galica | CNBCCisco announced plans to cut 5% of its workforce on Wednesday, a decision that will result in the elimination of about 4,250 jobs. Shares of Cisco were down as much as 9% in extended trading.It's the latest tech...

Saudi state-controlled Aramco suspended its capacity expansion plans because of the green transition, Saudi energy minister Abdulaziz bin Salman said Monday."I think we postponed this [Aramco capacity] investment simply because … we're transitioning. And transitioning means that even our oil company, which used to b...

People shop in a supermarket in the Manhattan borough of New York city on January 27, 2024.Charly Triballeau | AFP | Getty ImagesThe prices consumers pay in the marketplace rose at an even slower pace than originally reported, according to closely watched revisions the government released Friday.Updates to the consu...

Scientists on Thursday said the world surpassed a key warming threshold across an entire year for the first time on record.The European Union's Copernicus Climate Change Service (C3S) said the global mean temperature for the 12-month period through to January was 1.52 degrees Celsius above the 1850-1900 pre-industri...