Senate Majority Leader Mitch McConnell on Monday insisted the U.S. government will raise the debt ceiling and avoid defaulting on its debt. “There is zero chance — no chance — we won’t raise the debt ceiling. No chance,” McConnell said at an event in Kentucky with Treasury Secretary Steven Mnuchin. “America’s not going to default. […]
Read moreElon Musk is busy trying to help save the world. His electric vehicle company Tesla aims to combat climate change by accelerating the transition away from coal-powered energy. His rocket company SpaceX is working to make life on Mars possible because he believes there will be an “extinction event” on Earth. He’s one of the […]
Read moreArtificial intelligence experts, including Tesla’s Elon Musk, have spoken out against the development of autonomous robots with the power to kill. There’s already evidence that major technology companies are losing control of the ways that bad people can use their products, technology investor Roger McNamee told CNBC’s “Squawk Alley” on Monday. “I think what Elon’s […]
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Caterpillar shares have been on a tear – rallying more than 35 percent in the past year, but one top technician says the charts are pointing to trouble ahead. The S&P Industrial sector is one of the best-performing groups in the past year, but Carter Worth of Cornerstone Macro noted that many of the industrial […]
Read moreBecause of its “extreme hostility toward Muslims,” the website Jihadwatch.org is considered an active hate group by the Southern Poverty Law Center and the Anti-Defamation League. The views of the site’s director, Robert Spencer, on Islam led the British Home Office to ban him from entering the country in 2013. But its designation as a […]
Read moreAmericans are divided socially and economically in ways that have not been seen since the worst days of the Great Depression and as the world was heading into another global conflict, hedge fund king Ray Dalio said Monday. In an essay on LinkedIn, the head of Bridgewater Associates compared the current U.S. climate to 1937, […]
Read moreSome companies hope to get a business boost from the millions of people traveling in the U.S. to see Monday’s once-in-a-century solar eclipse. CNBC used FactSet to look at earnings call transcripts from the last month for mentions of “solar eclipse” and found the executives of the following stocks expect some benefit: For car rental […]
Read moreA possible move by former General Electric CEO Jeffrey Immelt to ride-hailing company Uber is surprising, CNBC’s Jim Cramer said Monday. On Saturday, Recode reported that Immelt, who is still GE’s chairman until the end of the year, has emerged as the front-runner to become Uber’s new CEO after Uber founder and Chief Executive Travis […]
Read moreCompetition for housing is soaring, affordability is weakening, and the U.S. housing recovery is grinding to a crawl—and, in large part, the baby boom generation is to blame. No, they’re not doing anything immoral or illegal; in fact, they’re not doing anything at all, and that is precisely the problem. They’re not moving. Baby boomers, […]
Read moreCredit Suisse has released a list of “Seven Retail Sins,” highlighting some problems faced by retailers that the firm’s analysts saw emerge in a slew of earnings reports over the past few weeks. “Results last week, particularly in the sporting goods space, serve as a reminder of some of the key issues impacting the retail […]
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