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CNBC is an American pay television business news channel that is owned by NBCUniversal Broadcast, Cable, Sports and News, a division of NBCUniversal, with both being ultimately owned by Comcast.Source
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White House chief of staff Mark Meadows says ‘we're not going to control the pandemic’ as coronavirus cases hit record high

White House chief of staff Mark Meadows says ‘we're not going to control the pandemic’ as coronavirus cases hit record high

Key PointsWhite House chief of staff said on Sunday that the U.S. will not get control of the pandemic as the country reports a record high in new daily Covid-19 cases."We're not going to control the pandemic," Meadows said during an interview on CNN. "We are going to control the fact that we get vaccines, therapeutics and other mitigations."Pressed on why the U.S. can't make efforts to control the pandemic, Meadows said: "Because it is a contagious virus just like the flu.""What we need to do is make sure that we have the proper mitigation factors, whether it's therapies or vaccines or...

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Mike Pence will not quarantine after four aides test positive for coronavirus

Mike Pence will not quarantine after four aides test positive for coronavirus

Key PointsVice President Mike Pence will not quarantine himself despite several of his aides testing positive for coronavirus, his office said.Pence's chief of staff Marc Short is isolating after testing positive on Saturday, Devin O'Malley, a spokesman for the vice president, said in a statement. A senior political advisor to the vice president, Marty Obst, and two other aides also tested positive, according to NBC News.O'Malley said in a statement issued late on Saturday that Pence and second lady Karen Pence both tested negative and "remain in good health."Pence is expected to hold a...

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American Airlines plans customer tours of Boeing 737 Max and pilot calls to boost confidence in jets

American Airlines plans customer tours of Boeing 737 Max and pilot calls to boost confidence in jets

Key Points is planning customer tours of the 737 Max and calls with its pilots in the coming weeks to boost the public's confidence in the plane after two fatal crashes.The jets were grounded worldwide more than a year and a half ago after the two crashes — Lion Air Flight 610 in October 2018 and Ethiopian Airlines Flight 302 in March 2019. All 346 people on board the flights were killed.Following repeated setbacks, the Federal Aviation Administration is at the tail-end of its recertification process for the jets though it has not signed off on the planes officially."The FAA continues to...

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Leslie Josephs
20h ago
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Google ramps up lobbying and Facebook outspends Big Tech peers in the third quarter ahead of antitrust revelations

Google ramps up lobbying and Facebook outspends Big Tech peers in the third quarter ahead of antitrust revelations

Key PointsGoogle ramped up lobbying spending in the third quarter and Facebook outspent its Big Tech peers as regulators and lawmakers prepared to make public their findings of alleged antitrust violations.Google spent more than $1.9 million in lobbying in the third quarter of this year, a 14.2% increase from the prior quarter. Facebook spent $4.9 million, a 1.5% increase from the previous quarter.In the past few months, Google has faced major exposure in Washington as a result of antitrust investigations into its business. On Tuesday, the , alleging it has maintained an unlawful monopoly...

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Lauren Feiner
4d ago
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FDA approves Gilead's remdesivir as coronavirus treatment

FDA approves Gilead's remdesivir as coronavirus treatment

Key PointsFDA approves Gilead's Remdesivir as Covid-19 treatmentThe Food and Drug Administration on Thursday approved ' antiviral drug remdesivir as a treatment for the .In May, the FDA granted the drug an emergency use authorization, allowing hospitals and doctors to use it on patients hospitalized with the disease even though the medication had not been formally approved by the agency. The intravenous drug has helped shorten the recovery time of some hospitalized Covid-19 patients. It was one of the drugs used to treat President Donald Trump, who tested positive for the virus earlier this...

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3d ago
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Media executives are finally accepting the decline of cable TV as they plot a new path forward

Media executives are finally accepting the decline of cable TV as they plot a new path forward

Key PointsThere's a quiet consensus emerging in the hallways and boardrooms of American media companies.They expect about 25 million U.S. households to cancel their pay-TV subscriptions over the next five years. This is on top of the 25 million homes that have already cut the cord since 2012. At least three major media companies now expect pay-TV subscriptions to stabilize around 50 million, according to people familiar with the matter, who declined to speak on the record because their company plans are private.The projected decline in subscribers will mean a drop of about $25 billion in...

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Alex Sherman
1d ago
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China's electric car strategy is starting to go global – and the U.S. is lagging behind

China's electric car strategy is starting to go global – and the U.S. is lagging behind

Business News and FinanceVIEW IN APPA Facebook iconA Twitter iconA LinkedIn iconAn email iconKEY POINTS BEIJING – In a future driven by electric vehicles, China is poised to dominate if the U.S. does not transform its automobile industry in coming years.While California-based captured popular attention for electric cars, national policy in Beijing encouraged the launch of several rivals in China, the world's largest auto market. Already, sales of electric cars and other new energy vehicles in China. Even Tesla launched a factory there last year, and is planning to Powering it all are...

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Evelyn Cheng
3d ago
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Joe Biden lays out a detailed plan to fight coronavirus as new infections soar

Joe Biden lays out a detailed plan to fight coronavirus as new infections soar

Key PointsWASHINGTON — Democratic presidential nominee Joe Biden on Friday laid out exactly how a Biden administration would address the coronavirus crisis, one day after the United States recorded .Biden said if he were elected, he would begin carrying out his plan even before he is inaugurated."I'll reach out to every governor in every state, red and blue, as well as mayors and local officials, during the transition, to find out what support they need and how much of it they need," Biden said during a speech at the Queen Theater in Wilmington, Delaware."I'll ask the new Congress to put a...

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Christina Wilkie
2d ago
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Lawyers who went after Microsoft in antitrust case say DOJ will have a difficult time succeeding against Google

Lawyers who went after Microsoft in antitrust case say DOJ will have a difficult time succeeding against Google

Key PointsLawyers who prosecuted over alleged antitrust violations in the late 1990s saw some familiar tactics in the Justice Department's against filed this week.But it's far from a carbon copy of the complaint, according to several lawyers involved in the Microsoft case interviewed by CNBC.The DOJ cited its landmark antitrust case against Microsoft on page five of its complaint against Google, which was filed Tuesday in the same federal district court that ruled favorably for the government. The suit is not the sprawling indictment of Google's search and advertising businesses that some...

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Lauren Feiner
3d ago
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Huawei's growth slows sharply as U.S. sanctions bite

Huawei's growth slows sharply as U.S. sanctions bite

Key PointsHuawei's third-quarter revenue growth slows, hit by U.S. sanctionsGUANGZHOU, China — Huawei's revenue growth slowed sharply in the third quarter while its margin dipped as U.S. sanctions disrupt its business.Revenue for the September quarter came in at 217.3 billion yuan ($31.91 billion), up just 3.7% from the 209.5 billion yuan recorded in the same period last year.For the first nine months of the year, revenue totaled 671.3 billion yuan ($98.57 billion), up 9.9% from the 610.8 billion yuan reported in the same period last year. That is a significant slowdown in growth. In the...

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Arjun Kharpal
3d ago
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Morgan Stanley expects SpaceX will be a $100 billion company thanks to Starlink and Starship

Morgan Stanley expects SpaceX will be a $100 billion company thanks to Starlink and Starship

Key PointsMorgan Stanley doubled its long-term valuation estimate for SpaceX on Thursday and is now expecting the company to be worth at least $100 billion due to its position in the growing space industry."SpaceX continues to solidify its place as 'mission control' for the emerging space economy. Important milestones with Starlink, Starship and government contracts dovetail to support an increase in our base case valuation," Morgan Stanley analyst Adam Jones wrote in a note to investors.The firm's new valuation expectation , but Jonas said that "quite a lot has changed since we published"...

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3d ago
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Goldman Sachs agrees to pay more than $2.9 billion to resolve probes into its 1MDB scandal

Goldman Sachs agrees to pay more than $2.9 billion to resolve probes into its 1MDB scandal

Key Points agreed to pay more than $2.9 billion to regulators around the world, including a record penalty for violating a U.S. anti-corruption law, to resolve probes into its role in an international finance scandal, authorities announced Thursday.Under the deal, Goldman's parent company avoided a guilty plea in the United States.The sum includes about $600 million in fee disgorgement that was included in an earlier settlement with the Malaysian government. The $2.9 billion includes individual deals with regulators in the U.S., the U.K., Singapore and elsewhere, the U.S. Justice Department...

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Hugh Son
3d ago
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Tesla isn't stuck in a 'zero-sum game' like other carmakers, Jefferies analyst says

Tesla isn't stuck in a 'zero-sum game' like other carmakers, Jefferies analyst says

Key PointsTesla not stuck in 'zero-sum game' of electric transition: Jefferies doesn't have to play the "zero-sum game" faced by traditional automakers that are struggling to catch up in the electric vehicle space, an analyst at Jefferies told CNBC Thursday.Billionaire car company on Wednesday posted its fifth straight quarter of profits, helped in part by sales of environmental regulatory credits to other carmakers. The company also beat on all the key metrics that analysts were looking for including cash flow and gross margins.However, concerns have been raised over its eye-watering...

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Ryan Browne
3d ago
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Joe Biden is ready for Trump's debate attacks on his family, his campaign says

Joe Biden is ready for Trump's debate attacks on his family, his campaign says

Key PointsWASHINGTON — Democratic presidential nominee Joe Biden is ready for President Donald Trump to unleash a torrent of attacks on Biden's family Thursday night at the final , Biden campaign aides said."We expect that Trump will attack Vice President Biden and his family," said deputy campaign manager Kate Bedingfield on a pre-debate conference call. "Every time he does that, all he's doing is reinforcing what we have said all along: He is acknowledging that he has no case for a second term."Down in the polls with 12 days to go, Trump has seized on recently released emails allegedly...

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Christina Wilkie
3d ago
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Weekly jobless claims drop to the lowest level since the pandemic started in March

Weekly jobless claims drop to the lowest level since the pandemic started in March

Key PointsInitial jobless claims at 787,000, the lowest read since MarchNew filings for jobless claims in the U.S. totaled 787,000 last week, the lowest total since the early days of the coronavirus pandemic.Economists surveyed by Dow Jones had been expecting 875,000 for the week ended Oct. 17.The total reflected a decline of 55,000 from the downwardly revised 842,000 in the previous week. The last time the weekly claims total was lower was the 282,000 on March 14, just before an avalanche of layoffs that followed shutdown efforts to combat .One reason for the decline in jobless claims has...

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Jeff Cox
3d ago
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Thailand lifts protest ban that backfired

Thailand lifts protest ban that backfired

Key PointsThailand on Thursday rolled back an emergency decree aimed at ending months of protests against the government and monarchy that had only inflamed anger and brought tens of thousands of people onto Bangkok streets.A government statement published in the official Royal Gazette said that as of 12 p.m. (0500 GMT) it would mean an end to measures that include bans on political gatherings of five or more people and publishing news that could affect security."The current violent situation that led to the announcement of the severe situation has eased and ended to a situation in which...

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Reuters
3d ago
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Pelosi cautions that Congress may be far from passing a stimulus bill despite progress on a deal

Pelosi cautions that Congress may be far from passing a stimulus bill despite progress on a deal

Key PointsWhile Democrats and the White House are close to reaching a coronavirus stimulus deal, it could take a lot longer to write and vote on a bill, House Speaker said Thursday.The California Democrat plans to speak to Treasury Secretary again Thursday as they try to craft an aid agreement. While the speaker said the sides are "just about there" on reaching a deal, she cautioned that passing it into law will take time as she and the Trump administration try to resolve outstanding issues."If we can resolve some of these things in the next few days, it'll take a while to write the bill,"...

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3d ago
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Iran and Russia obtained U.S. voter registration data in effort to influence election, national security officials say

Iran and Russia obtained U.S. voter registration data in effort to influence election, national security officials say

Key PointsFBI press conference on foreign interference in U.S. electionIran and Russia have both obtained information about American voters' registrations and are trying to influence the public about the upcoming U.S. presidential election, national security officials announced Wednesday night."Iran and Russia have taken specific actions to influence public opinion related to our elections," said Director of National Intelligence John Ratcliffe at a hastily scheduled press conference."First we have confirmed that some voter registration information has been obtained by Iran and separately...

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Impossible Foods looks to hire more than 100 scientists in quest for dairy-free milk and meat alternatives

Impossible Foods looks to hire more than 100 scientists in quest for dairy-free milk and meat alternatives

Business News and FinanceVIEW IN APPA Facebook iconA Twitter iconA LinkedIn iconAn email iconKEY POINTS Impossible Foods' next big innovation could be dairy-free milk that looks, acts and tastes just like cow's milk.The prototype is just one step toward Impossible's long-term goal of eliminating animal agriculture, which contributes about 14.5% of global greenhouse emissions, according to the United Nations' Food and Agriculture Organization.The company shared a prototype of the product on Tuesday as it announced plans to hire more than 100 scientists to double its research and development...

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Amelia Lucas
5d ago
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Quibi officially announces it's shutting down

Quibi officially announces it's shutting down

Key PointsQuibi, the short-form entertainment service for mobile devices, that it will shut down, just over six months after its service launched.The company, which was founded by Hollywood producer Jeffrey Katzenberg and former CEO Meg Whitman, raised $1.75 billion ahead of its launch in April. The app features short-form news and entertainment videos (or "quick bites") running 10 minutes or less in length. It attracted top Hollywood stars for its shows too, such as Chrissy Teigen and Idris Elba. Investors in Quibi included legacy media companies like , 's NBCUniversal, and 's...

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4d ago
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WEF says machines will create more jobs than they destroy but warns of pandemic ‘double-disruption’

WEF says machines will create more jobs than they destroy but warns of pandemic ‘double-disruption’

Key Points'There has been a slowdown in the rate of job creation,' WEF managing director saysLONDON — Advances in robotics and artificial intelligence will lead to a net increase in jobs over the next five years but the coronavirus pandemic will result in "double-disruption" for workers, according to the World Economic Forum (WEF).In a report published Wednesday, the organization said that the rise of machines and automation would eliminate a huge 85 million jobs by 2025. But at the same time, the WEF expects 97 million new jobs to be created, meaning an overall addition of 12 million...

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Ryan Browne
5d ago
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A Fed official who could be Biden's Treasury secretary says Congress needs to pass stimulus to save the recovery

A Fed official who could be Biden's Treasury secretary says Congress needs to pass stimulus to save the recovery

Business News and FinanceVIEW IN APPA Facebook iconA Twitter iconA LinkedIn iconAn email iconKEY POINTS Federal Reserve Governor Lael Brainard issued a call Wednesday for more fiscal support from Congress, saying more stimulus is needed to address a recovery that has left out large parts of the economy."The recovery remains highly uncertain and highly uneven — with certain sectors and groups experiencing substantial hardship. These disparities risk holding back the recovery," Brainard said remarks to the Society of Professional Economists."Further targeted fiscal support will be needed...

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Jeff Cox
4d ago
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Stimulus package is unlikely to get through Congress before the election, Goldman Sachs says

Stimulus package is unlikely to get through Congress before the election, Goldman Sachs says

Key PointsAmid a continuing deadlock over the most important matters at hand, there's little chance that Congress will pass economic stimulus before the Nov. 3 election, according to Goldman Sachs.Less than two weeks before Election Day, chief negotiators for their respective parties over key matters such as aid to states and business liability protections.Though talks headed by Treasury Secretary Steve Mnuchin and House Speaker Nancy Pelosi could continue right up until the vote, Goldman said the likelihood of an agreement is fading."Some of the biggest issues remain unresolved and a deal...

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Jeff Cox
4d ago
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Asia-Pacific markets mixed; Cathay Pacific shares in Hong Kong jump more than 3% after restructuring announcement

Asia-Pacific markets mixed; Cathay Pacific shares in Hong Kong jump more than 3% after restructuring announcement

Key PointsSINGAPORE — Stocks in Asia-Pacific were mixed in Wednesday trade as investors continue to watch for developments on U.S. stimulus talks.Mainland Chinese stocks were lower on the day, with the down fractionally to about 3,325.02 while the slipped 0.999% to around 13,467.91. Hong Kong's , on the other hand, advanced about 0.9% as of its final hour of trading.In Japan, the added 0.31% to close at 23,639.46 while the Topix index gained 0.73% to finish its trading day at 1,637.60. South Korea's rose 0.53% to close at 2,370.86.Meanwhile, shares in Australia edged higher on the day, with...

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5d ago
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Trump loses bid to block deadline extension for North Carolina ballot

Trump loses bid to block deadline extension for North Carolina ballot

Key PointsA U.S. federal appeals court on Tuesday left in place North Carolina's plan for counting absentee ballots that arrive after Election Day, dealing a setback to campaign.In a 12-3 decision, the U.S. 4th Circuit Court of Appeals denied a bid to halt the North Carolina State Board of Elections from tallying ballots postmarked by Nov. 3 that arrive before Nov. 12.The Trump campaign, the North Carolina Republican Party, and others had sued over the timetable, saying that it violated the state's election code."All ballots must still be mailed on or before Election Day," Circuit Judge...

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Reuters
5d ago
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