Carl Icahn speaking at Delivering Alpha in New York on September 13, 2016. David A Grogan | CNBC Carl Icahn claimed on Friday that Illumina directors demanded additional personal liability insurance before the biotech company signed a $7.1 billion acquisition of cancer test developer Grail in 2021. The claim is the latest development in a … Read more
Shares of the German lender have fallen for a third day in a row and have now lost more than a fifth of their value so far this month. The emergency bailout of Credit Suisse by UBS, following the collapse of US-based Silicon Valley Bank, sparked contagion concern among investors, which was compounded by the … Read more
US Treasury Secretary Janet Yellen testifies before a subcommittee on March 23, 2023 in Washington, DC. Alex Wang | Getty Images News | Getty Images This report comes from today’s CNBC Daily Open, our new international markets newscast. CNBC Daily Open updates investors on everything they need to know, wherever they are. Like what you … Read more
Block’s Australian shares plunge following Hindenburg report Australian-listed shares of payments firm Block fell nearly 20%, following moves in U.S.-listed shares after Hindenburg Research reported the payments firm as its latest short position. The short seller said Block allowed criminal activity to operate with lax controls and “heavily” inflated Cash App’s transaction user base, a … Read more
5 hours ago Treasury Secretary Yellen says emergency actions to support banks could be used again if needed Treasury Secretary Janet Yellen said Thursday that federal emergency measures used to support customers of Silicon Valley Bank and Signature Bank could be used again if needed. “We used important tools to act quickly to prevent contagion. … Read more
The badge of a Ford Motor Co. E-Transit electric vehicle during a presentation in Washington, DC, U.S., Wednesday, July 28, 2021. Al-Draco | Bloomberg | Getty Images Ford Motor said Thursday that its electric vehicle business lost $2.1 billion last year on an operating basis, a loss that was more than offset by $10 billion … Read more
Chinese tech giant Tencent reported better-than-expected quarterly revenue on Wednesday, helped by growth in ads within its growing “video accounts” business. However, ads still make up less than a fifth of Tencent’s overall revenue – which barely rose in the fourth quarter and fell for the whole of 2022 as Covid lockdowns dampened economic growth. … Read more
“AT1 instruments issued by Credit Suisse contractually provide that they will be fully written down in the event of a ‘viability event’, particularly if extraordinary government support is provided,” FINMA said in a statement on Thursday. “As Credit Suisse received extraordinary liquidity assistance loans secured by a Federal Default Guarantee on March 19, 2023, these … Read more
Federal Reserve Board Chairman Jerome Powell holds a news conference following a meeting of the Federal Open Market Committee at the Federal Reserve on March 22, 2023 in Washington, DC. Alex Wang | Getty Images News | Getty Images This report comes from today’s CNBC Daily Open, our new international markets newscast. CNBC Daily Open … Read more
Bitcoin is up nearly 70% so far this year – and industry insiders who spoke to CNBC remain optimistic, with one saying the world’s largest cryptocurrency could reach new heights. Marshall Beard, chief strategy officer of US-headquartered cryptocurrency exchange Gemini, said $100,000 could be a possibility for bitcoin. Part of the positive industry view of … Read more
