Elon Musk has expanded a number of his companies within Texas, including Tesla, SpaceX, the Boring Co. and Neuralink. Tesla broke ground on a lithium refinery in Texas earlier this year with Governor Greg Abbott in attendance. Christophe Gateau | Picture Alliance | Getty Images Elon Musk’s tunneling venture, The Boring Company, announced plans earlier…
Ford Motor reported second-quarter revenue that beat expectations Wednesday, and reinstated its full-year guidance, which includes an estimated net $2 billion hit from tariffs. The automaker suspended its full-year guidance in May due to President Donald Trump’s auto tariffs. At that time, Ford predicted a $2.5 billion impact from tariffs this year but said it…
WASHINGTON – A divided Federal Reserve on Wednesday voted to keep its benchmark interest rate steady, despite a barrage of criticism from President Donald Trump and dissents from two top officials. The Federal Open Market Committee, the group that sets the overnight borrowing rate, voted 9-2 to stay on hold. The federal funds rate will…
The U.S. economy grew at a much stronger-than-expected pace in the second quarter, powered by a turnaround in the trade balance and renewed consumer strength, the Commerce Department reported Wednesday. Gross domestic product, a sum of goods and services activity across the sprawling U.S. economy, jumped 3% for the April through June period, according to…
U.S. President Donald Trump gestures before boarding Air Force One as he returns to Washington, D.C., in Lossiemouth, Scotland, Britain, July 29, 2025. Evelyn Hockstein | Reuters President Donald Trump said that he will not extend Friday’s deadline for his “reciprocal” tariffs on dozens of countries to restart. “THE AUGUST FIRST DEADLINE IS THE AUGUST…
DeWalt power tools are displayed at a Home Depot on May 2, 2025 in New York City. Michael M. Santiago | Getty Images Companies behind some of America’s best-known brands are warning that tariffs will raise costs by hundreds of millions of dollars as Friday’s key deadline nears. Firms are gearing up for the long-awaited…
Tencent shows off its various AI applications based on its Hunyuan model at the World AI Conference in Shanghai on July 26, 2025. CNBC | Evelyn Cheng This report is from this week’s edition of CNBC’s The China Connection newsletter, which brings you insights and analysis on what’s driving the world’s second-largest economy. Each week,…
A view of the logo of HSBC bank on a wall outside a branch in Mexico City, Mexico, on June 14, 2024. Henry Romero | Reuters Europe’s largest lender HSBC on Wednesday missed second-quarter profit expectations, mostly on account of impairment charges, according to the bank. It reported profit before tax for the three months…
It’s a virtual three-way tie to replace Fed Chair Jerome Powell as Fed chair when his term expires. The CNBC Fed Survey found 24% of respondents saying President Donald Trump will replace Powell with Treasury Secretary Scott Bessent and 24% saying it will be former Fed Governor Kevin Warsh. Close behind is Kevin Hassett, director…
US President Donald Trump (R) and Apple CEO Tim Cook (2nd L), with Senior Advisor to the President Ivanka Trump (L) and Treasury Secretary Steven Mnuchin, tour the Flextronics computer manufacturing facility where Apple’s Mac Pros are assembled in Austin, Texas, on November 20, 2019. Mandel Ngan | AFP | Getty Images Faced with intensifying…
