Elon Musk says he doesn’t plan to donate to GOP super PACs in upcoming election – despite feud with Biden

Billionaire entrepreneur Elon Musk has said he has no plans to fund a Republican super PAC in upcoming US elections, including those that oppose President Joe Biden in the 2024 presidential race. The Tesla and SpaceX CEO, who is listed by Forbes as the richest person in the world, told CNBC in an email that … Read more

Hasbro slams activist investor’s proposed directors as proxy battle escalates

Hasbro game maker. Justin Sullivan | Getty Images Hasbro goes on the offensive against an activist investor who wants to add new members to the company’s board and create the lucrative unit that includes Dungeons & Dragons. On Wednesday, the toymaker released a letter to shareholders explaining why its current slate of board nominees should … Read more

Tough questions await SEC Chairman Gensler as he seeks funding for his regulatory agenda

U.S. Securities and Exchange Commission Chairman Gary Gensler takes a seat before the start of the Senate Banking, Housing, and Urban Affairs Committee hearing on oversight of the U.S. Securities and Exchange Commission on Tuesday, September 14, 2021. Bill Clark | CQ-Roll Call, Inc. | Getty Images SEC Chairman Gary Gensler testifies before the House … Read more

Shares of Sea, owner of Shopee, rise 14% after higher-than-expected earnings

Shares of Southeast Asian e-commerce and gaming company Sea Group surged after its first-quarter revenue beat analysts’ expectations on Tuesday. Sea’s U.S.-listed shares rose 14% to close at $80.21 after the Singapore-based internet company reported earnings that beat analysts’ expectations in the first quarter of this year. Here’s how the NYSE-listed company fared from January … Read more

House Democrats to hold hearings on infant formula crisis, introduce bill to strengthen FDA inspections

House Democrats will hold hearings on the U.S. formula shortage and pass legislation to increase Food and Drug Administration inspection staff to ensure imported products are safe for infants. Representative Rosa DeLauro, chair of the House Appropriations Committee, on Tuesday introduced a bill that would provide the FDA with $28 million in emergency funding to … Read more

How Carvana went from being a Wall Street top pick to trading with meme stocks

Ernie Garcia, CEO, Carvana Scott Mlyn | CNBC Carvana CEO Ernie Garcia III regularly tells Wall Street that “the march continues” on the company’s mission to become the world’s largest and most profitable used-car retailer. Its share price has also risen this year, just in the wrong direction for investors. In six months, Carvana has … Read more

China has quietly built a blockchain platform. Here’s what we know

China has made blockchain technology a strategic priority. Blockchain-based Service Network, or BSN, is part of its efforts to build capacity in the industry. Yuichiro Chino | time | Getty Images Chinese President Xi Jinping has said his country must “seize the opportunities” presented by blockchain technology. In a speech in 2019, the Chinese leader … Read more

Severe pilot shortage in the United States forces airlines to seek solutions

Airline pilots walk through Ronald Reagan Washington National Airport on December 27, 2021 in Arlington, Virginia. Anna Moneymaker | Getty Images The United States is facing its worst pilot shortage in recent memory, forcing airlines to cut flights just as travelers return after more than two years of the Covid-19 pandemic. The crisis pushes the … Read more

Elon Musk wants to know how many fake Twitter accounts he has, but experts say his approach is totally wrong

Tesla CEO Elon Musk sent Twitter shares plummeting on Friday when he said he would pause its $44 billion acquisition of the social network while he researches the proportion of fake accounts and spam on the platform. Although Musk later clarified that he remained committed to the deal, he continued to hammer home the issue … Read more

‘Nowhere to hide?’ Why stagflation fears put stocks on the brink of a bear market

It will take more than Friday’s big rebound to dispel fears of a bear market in equities as uncertainty over the Federal Reserve’s ability to rein in inflation without sinking the economy stokes fears of stagflation – a pernicious combination of slow economic growth and persistent inflation. Stagflation is “a terrible environment” for investors, typically … Read more