Mortgage rates are falling, but that doesn’t guarantee homes will be more affordable in 2025. The average 30-year fixed mortgage rate dropped to 6.2% as of Thursday, down from a peak of 7.79% in May. For many buyers, that means saving hundreds on mortgage payments. But those savings are bringing buyers back into the market. … Read more
Sports gambling has exploded across the United States over the past six years and, in response, two lawmakers have introduced legislation that would implement federal regulations on the practice. Rep. Paul Tonko D-N.Y. and Sen. Richard Blumenthal, D-Conn., on Thursday introduced the Supporting Affordability and Fairness with Every Bet, or the SAFE Bet Act, which … Read more
U.S. President Joe Biden delivers remarks during a visit to the United Association Local 190 Training Center in Ann Arbor, Michigan, U.S., September 6, 2024. Craig Hudson | Reuters The Biden administration announced new steps on Friday to curtail what it calls the “overuse and abuse” of a longstanding trade law that permits low-value shipments … Read more
Night view of the Lujiazui financial district in downtown Shanghai. Yongyuan Dai | E+ | Getty Images American companies in China are experiencing historically low business confidence and poor profits amid U.S.-China tensions and a slowing Chinese economy. In an annual report released Thursday, the American Chamber of Commerce in Shanghai found that out of … Read more
Saudi Arabia is optimistic about gaining access to U.S. chipmaker Nvidia’s high-performance chips, which would enable it to develop and operate the most advanced artificial intelligence models. Speaking to CNBC on Thursday, a top official at the Saudi Data and AI Authority, Abdulrahman Tariq Habib, said the kingdom expected to make such a stride in … Read more
GOP V.P. Candidate J.D. Vance speaking on CNBC’s Squawk Box on Sept. 12. 2024. CNBC Republican vice presidential nominee JD Vance made a dubious immigration claim Thursday as he blamed Vice President Kamala Harris for undocumented immigrants and asylum seekers entering the United States. Vance, the Ohio senator and running mate to former President Donald … Read more
This report is from this week’s CNBC’s “Inside India” newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. Like what you see? You can subscribe here. The big story The Federal Reserve is almost certain to start its rate-cutting cycle next week. Historically, a … Read more
Carlos Tavares, CEO of Stellantis, poses during a presentation at the New York International Auto Show in Manhattan, New York, on April 5, 2023. David Dee Delgado | Reuters DETROIT – Stellantis‘ U.S. dealer network has joined the United Auto Workers union in criticizing CEO Carlos Tavares for the company’s recent sales declines, factory production … Read more
OpenAI CEO Sam Altman during a fireside chat organized by Softbank Ventures Asia in Seoul, South Korea, on Friday, June 9, 2023. SeongJoon Cho | Bloomberg | Getty Images Leaders at OpenAI, Anthropic, Microsoft, Google and several American power and utility companies met Thursday at the White House to discuss the future of artificial intelligence … Read more
A sign with the company logo sits outside of the headquarters of Eli Lilly in Indianapolis, Indiana, on March 17, 2024. Scott Olson | Getty Images Eli Lilly on Thursday said it will invest $1.8 billion to boost manufacturing for its newly approved Alzheimer’s drug and highly popular weight loss and diabetes treatments, among other medicines, … Read more
