The former CEO of a small Kansas bank was sentenced to more than 24 years in prison for looting the bank of $47 million — which he sent to cryptocurrency wallets controlled by scammers who had duped him Read More
U.S. job gains over the 12 months ending in March were revised downward Wednesday by 818,000 — a significant revision that adds to recent concerns that the economy has been slowing. The change means that roughly 2.1 million Read More
Federal Reserve officials at their July meeting moved closer to a long-awaited interest rate reduction, but stopped short while indicating that a September cut had grown increasingly probable, minutes released Wednesday showed. “The vast majority” Read More
DETROIT — Ford Motor is delaying production of a next-generation all-electric pickup truck at a new plant in Tennessee and canceling plans for a three-row electric SUV, the company said Wednesday. Instead, Ford said it will Read More
There’s no room for price gouging in a ultra-competitive business like retail, Target CEO Brian Cornell said on Wednesday. In an interview on CNBC’s “Squawk Box,” the retail chief disputed campaign talking points Read More
A new labor market survey shows Americans have rarely felt more in need of new job opportunities — an indication of a more negative outlook about the economy despite other data that suggests a more stable Read More
The European Union on Tuesday said planned tariffs on Tesla vehicles being imported from China would be cut to 9% from 20.8%, while also reducing a number of planned import duties on other electric vehicle firms. In Read More
Newly appointed Starbucks CEO Brian Niccol won’t be required to relocate to the company’s headquarters in Seattle when he joins the coffee giant next month. Instead, Starbucks says Niccol can live in his Read More
The Inflation Reduction Act has sparked a manufacturing boom across the U.S., mobilizing tens of billions of dollars of investment, particularly in rural communities in need of economic development. The future of those investments Read More
DETROIT — General Motors is laying off more than 1,000 salaried employees globally in its software and services division following a review to streamline the unit’s operations, CNBC has learned. The layoffs, including roughly 600 jobs at Read More