Treasury Secretary Scott Bessent suggested expanding U.S. bond buybacks to address liquidity issues, but markets remain skeptical. Meanwhile, U.S. national debt reached $40 trillion, and industry leaders in Beijing discussed the limitations of humanoid robots.
The $12.5 billion sale of the Los Angeles Lakers from Mark Walter to Joshua Kushner and Bob Iger is set to increase average NBA team valuations by 21% to $6.68 billion, marking a record-high revenue multiple for the league.
US Treasury Secretary Scott Bessent urged China to join Washington's campaign to economically isolate Iran following the collapse of negotiations to reopen the Strait of Hormuz.
Hyundai Motor is considering expanding the annual production capacity of its Georgia assembly plant to up to 800,000 units by 2028, driven partly by U.S. tariffs and a broader $26 billion investment strategy.
Private equity firm Arctos has agreed to acquire a 10% stake in the Atlanta Falcons at a $10.6 billion enterprise value, according to sources. The transaction requires NFL approval, with a vote expected in October.
Wealthy families face challenges in transitioning control from aging parents, with cognitive decline and emotional difficulties complicating the process. Advisors recommend early discussions, gradual transitions, respect for the wealth creator, and family consensus.
California AG Rob Bonta, leading a coalition of 12 states, insists on 'robust structural remedies' to settle the antitrust lawsuit blocking Paramount's acquisition of Warner Bros. Discovery, citing concerns over market concentration in film and cable TV.
A CNBC and SurveyMonkey survey reveals that 42% of workers support restricted AI use for junior staff, while 35% favor a total ban. Concerns center on professional development, the risk of 'AI workslop,' and potential security breaches by inexperienced employees.
A former central bank adviser rejects U.S. President Trump's claim of imminent economic collapse in Iran, but warns UAE's trade severance may deepen contraction to 5% amid escalating U.S. sanctions.
Wall Street markets rebound as the Treasury plans to double buyback operations, while Broadcom shares drop 5% after Google partners with Marvell Technology for custom silicon programs.
Hims & Hers CEO Andrew Dudum defended his company against an FTC lawsuit alleging improper data sharing and deceptive subscription practices. Dudum characterized the legal action as a misunderstanding of the company's efforts to disrupt traditional healthcare.
Jeanie Buss is legally challenging her siblings' plan to sell the remaining 17.8% Buss Family Trust stake in the Los Angeles Lakers to Bob Iger and Josh Kushner, citing a 2017 court order and NBA rules requiring her to maintain 15% ownership to remain controlling owner.
Brunswick Corp. is leveraging advanced marine technology and its Freedom Boat Club membership model to drive growth as new boat sales remain sluggish. The company aims for $7-8 billion in revenue by 2030, focusing on recurring income and premium product resilience.
OpenAI President Greg Brockman dismissed concerns regarding recent executive departures, including revenue chief Denise Dresser and Brad Lightcap, attributing the scrutiny to the company's high public profile rather than an unusual turnover rate.
CNBC surveyed 10 media executives to forecast the television industry's next three years, examining cable subscriber trends, personalization, AI integration, sports viewership, and streaming consolidation.
Stocks open lower as AI component surges contrast with pressure on hyperscalers and software shares. Interest rates climb past 4.7% ahead of Fed minutes, while pharma stocks gain on new Leerink prescription data.
Disney CEO Josh D'Amaro discussed the company's strong parks performance, streaming growth strategies, and commitment to keeping ESPN during a CNBC interview on Friday.
The CFTC is reviewing 'mention markets' on prediction platforms like Kalshi, where traders speculate on words used in speeches or broadcasts, amid concerns over market manipulation and increased regulatory scrutiny.
Stock market indexes moved higher as the AI trade rebounded, led by the Nasdaq's 2.7% gain. CNBC Investing Club reviews top and bottom portfolio performers.
Markets traded mixed as oil prices climbed and Treasury yields rose to 4.70% ahead of inflation reports. Meanwhile, Meta introduced the Muse Glimmer local AI model, advancing CEO Mark Zuckerberg's strategy for on-device artificial intelligence.
Rockstar Energy founder Russ Savage has acquired a 4.7% stake in Celsius Holdings worth about $300 million and is demanding the removal of its CEO after disappointing second-quarter earnings.
Savers Value Village introduces ThriftIQ, an AI-driven platform to optimize pricing in its thrift stores, aiming for consistency and profitability while keeping prices 40-70% below traditional retail.
CNBC host Jim Cramer advised SpaceX investors to adopt a decades-long horizon following a 13.6% stock drop after the company's first earnings report. Cramer expressed confidence in Elon Musk's fundraising abilities and long-term growth projects like Starship and Starlink.
Global markets react to corporate earnings, Fed rate hike warnings, diplomatic shifts in the Strait of Hormuz, and severe European drought impacts on nuclear energy.
