Elon Musk says he doesn’t plan to donate to GOP super PACs

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

What Walmart, Target, Home Depot and Lowe’s tell us about the economy

How well is the American consumer holding up against sky-high inflation? It depends on whom you ask. Four major retailers — Walmart, Target, Home Depot and Lowe’s — reported quarterly financial results this week, and they each offered a different perspective on where and how people are spending their money. Walmart said some of its … Read more

Elon Musk has wrong approach to count fakes, spam on Twitter: experts

Tesla CEO Elon Musk sent Twitter shares tumbling on Friday when he said he was going to put his $44 billion acquisition of the social network “on hold” while he researches the proportion of fake and spam accounts on the platform. Though Musk later clarified that he remains committed to the deal, he continued to … Read more

How Amazon, American Airlines and Subaru burn waste to make energy

In northern California’s Stanislaus County, next to a landfill, there’s a company managing waste in a very different way: by burning trash instead of burying it. The energy recovery facility run by New Jersey-based Covanta harnesses steam to make enough electricity to power 18,000 homes in the area. A portion of the waste comes from … Read more

China may chalk up more debt as lockdowns hit the economy

Covid lockdowns have hit China’s economy, and the Asian giant might have to issue more debt to continue meeting its growth target. Kevin Frayer | Getty Images News | Getty Images China may have to issue more debt as it tries to keep growing in the face of Covid lockdowns that are stunting its economy. … Read more

Rivian (RIVN) Q1 2022 earnings preview

Rivian CEO RJ Scaringe inside the company’s customer experience center outside of its plant on April 11, 2022 in Normal, Ill. Michael Wayland/CNBC Electric-vehicle maker Rivian Automotive will report its first-quarter earnings after market close on Wednesday. Wall Street analysts polled by Refinitiv expect a loss of $1.44 per share on revenue of about $130.5 … Read more

What is terraUSD (UST) and how does it affect bitcoin?

Pedestrians walk past a display of cryptocurrency Bitcoin on February 15, 2022 in Hong Kong, China. Anthony Kwan | Getty Images A multibillion-dollar bet that bitcoin can act as a “reserve currency” for the crypto economy is already being tested as UST, a controversial stablecoin, struggles to maintain its $1 peg. UST dropped close to … Read more

Uber to cut down on costs, treat hiring as a ‘privilege’: CEO email

Uber will cut back on spending and focus on becoming a leaner business to address a “seismic shift” in investor sentiment, CEO Dara Khosrowshahi told employees in an email obtained by CNBC. “After earnings, I spent several days meeting investors in New York and Boston,” Khosrowshahi said in the email, which was sent out late … Read more

Why the UK economy is one of the most vulnerable right now

George Clerk | E+ | Getty Images There’s an economic idiosyncrasy in the UK that makes it “one of the most vulnerable countries in the world right now,” according to an investment strategist. Mike Harris, the founder of Cribstone Strategic Macro, argues that a major problem for Britain is that its mortgage market is “heavily … Read more

Meta is opening a physical store to bring metaverse closer to reality

Katie Contreras and Chris Nguyen, experience experts, stand at the Customer Onboarding station for the Quest Demo space during a preview of the inaugural physical store of Facebook-owner Meta Platforms Inc in Burlingame, California, May 4, 2022. Brittany Hosea-Small | Reuters A good number of teenagers have virtual reality headsets, but have they starting using … Read more