Exterior view of the entrance to Merck headquarters on February 05, 2024 in Rahway, New Jersey. Spencer Platt | Getty Images Merck on Wednesday said it has snagged the rights to an experimental weight loss pill from Chinese drugmaker Hansoh Pharma, in a deal worth up to $2 billion. The oral drug has not yet entered human trials, and…
Salesforce CEO Marc Benioff speaks at the Dreamforce conference in San Francisco on Sept. 17, 2024. David Paul Morris | Bloomberg | Getty Images Salesforce will hire 2,000 people to sell artificial intelligence software to clients, CEO Marc Benioff said on Tuesday, double the number the company indicated it was planning to add a month ago. The cloud software…
The Wall Street bull statue is pictured in Manhattan, New York. Carlo Allegri | Reuters A closely watched survey of global fund managers registered its lowest cash allocation on record this month, underscoring a bullishness on stocks as the equity market nears the end of a strong year. The average cash allocation level of participants in Bank of America’s…
An app-based delivery worker waits outside of a restaurant in New York City on July 7, 2023. Spencer Platt | Getty Images Grubhub will pay $25 million to settle a lawsuit from the Federal Trade Commission and Illinois Attorney General Kwame Raoul over alleged unlawful practices that harmed diners, workers and small businesses, the FTC announced on Tuesday. The…
The Walmart logo is seen outside of one of its stores in Selinsgrove, Pennsylvania. Paul Weaver | Lightrocket | Getty Images Walmart has started giving store-level associates body cameras to wear as part of a pilot program at some of its U.S. locations, CNBC has learned. It’s not clear how many of Walmart’s stores have the recording devices, but…
U.S. Federal Reserve Chair Jerome Powell speaks during a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., November 7, 2024. Annabelle Gordon | Reuters Respondents to the CNBC Fed Survey for December are sure the Federal Reserve will cut rates on Wednesday, but they are less sure whether…
Nvidia shares closed down more than 1% on Tuesday, as Broadcom shares reversed earlier gains to also move lower. On Monday, Nvidia entered correction territory — broadly defined as the point when a stock falls 10% or more from an all-time high close. Nvidia hit its closing high of $148.88 last month. After initial rising in trading before the…
Republican Presidential candidate, former U.S. President Donald Trump speaks to attendees during a campaign rally at the Johnny Mercer Theatre on September 24, 2024 in Savannah, Georgia. Brandon Bell | Getty Images President-elect Donald Trump’s pledge to impose a blanket tariff on all goods coming into the U.S. could wreak havoc for European carmakers, with Germany’s crisis-stricken automotive sector…
Investors will be able to trade Ripple’s new stablecoin beginning Tuesday, the company has said, after the New York State Department of Financial Services gave its approval earlier this month. The U.S. dollar-backed stablecoin, called ripple USD, or RLUSD, will be issued on the ethereum blockchain and XRP ledger and first available on some global exchanges, with plans to…
SoftBank CEO Masayoshi Son announced a $100 billion investment in the U.S. over the next four years during a Monday visit to President-elect Donald Trump’s residence Mar-a-Lago in Palm Beach, Florida. The billionaire investor and founder of the Japanese tech-investing firm promised in the joint announcement with Trump to create 100,000 jobs at a minimum focused on artificial intelligence…
