The Biden administration plans to require that all new cars and trucks come with pedestrian-collision avoidance systems that include automatic emergency braking technology by the end of the decade. In an interview, Transportation Secretary Pete Buttigieg said the requirement is designed to reduce pedestrian deaths, which have been on the rise in the post-Covid 19 […]
NBCUniversal streaming service Peacock plans to raise prices for its ad-free service by $2 to $13.99 a month ahead of this summer’s Olympic Games in Paris as competition for online viewership intensifies. Peacock’s ad-supported option will also increase by $2, to $7.99 a month. The annual price for ad-free will cost $139.99, while the version […]
Intel’s long-awaited turnaround looks farther away than ever after the company reported dismal first-quarter earnings. Investors pushed the shares down 10% on Friday to their lowest level of the year. Although Intel’s revenue is no longer shrinking and the company remains the biggest maker of processors that power PCs and laptops, sales in the first quarter […]
The wealth gap between rich millennials and the rest of their age group is the largest of any generation, creating a new wave of class tension and resentment, according to a recent study. Even as the vast majority of millennials struggle with student debt, low-wage service-jobs, unaffordable housing and low savings, the millennial elite are surpassing […]
JPMorgan Chase CEO Jamie Dimon says he’s hopeful the Federal Reserve can bring down inflation without causing a recession but wouldn’t rule out more troubling possibilities, such as stagflation. In an interview with The Associated Press at a Chase branch opening in The Bronx, Dimon said he remained “cautious” about the U.S. economy and said […]
Paramount Global and Skydance Media are making progress on a deal that would merge the media companies and buy out controlling shareholder Shari Redstone. Paramount Global’s special committee and David Ellison’s Skydance Media, backed by private equity firms KKR and RedBird Capital Partners, are narrowing in on how to value Skydance’s assets as part of a […]
Inflation showed little signs of letting up in March, with a key barometer the Federal Reserve watches closely showing that price pressures remain elevated. The personal consumption expenditures price index excluding food and energy increased 2.8% from a year ago in March, the same as in February, the Commerce Department reported Friday. That was above […]
The last batch of inflation news that Federal Reserve officials will see before their policy meeting next week is in, and none of it is very good. In the aggregate, Commerce Department indexes that the Fed relies on for inflation signals showed prices continuing to climb at a rate still considerably ahead of the central […]
Southwest Airlines is considering changes to its single-class, open-seating cabins to drive up revenue, CEO Bob Jordan told CNBC on Thursday, a shift that could be among the largest in the airline’s history. “We’re looking into new initiatives, things like the way we seat and board our aircraft,” Jordan said in an interview after the carrier’s disappointing […]
New England Patriots owner Robert Kraft said Thursday that the campus protests launched nationwide in response to Israel’s campaign in Gaza are another parallel of the lead-up to the Holocaust. In an interview Thursday on CNBC’s “Squawk Box,” Kraft, a longtime supporter of Columbia University, said that when he created the Foundation to Combat Antisemitism, […]