The row of two-story tall 3D printer bays at the company’s headquarters. Relativity Space The founders of two private rocket-building companies met today – one, the richest person on Earth; the other, leader of a venture pushing the boundaries of manufacturing. Jeff Bezos stopped by the gleaming new “factory of the future” of Relativity Space
Month: March 2021
As department stores like Saks Fifth Avenue try to get shoppers back into stores after the Covid-19 pandemic shutdowns, the shift to online sales may continue to accelerate thanks to personalization technology. Richard Lautens | Toronto Star | Getty Images HBC, the owner of Saks Fifth Avenue, said Friday it would be spinning the luxury
A logo of a Virgin Galactic is seen outside the building during the company’s first day of trading on the New York Stock Exchange (NYSE) on October 28, 2019 in New York City. JOHANNES EISELE | AFP | Getty Images Check out the companies making headlines in midday trading. Virgin Galactic – The space company’s shares
Patrons Sari and Peter Melendez enjoy lunch at Katz’s Delicatessen, the famous deli founded in 1888, on the first day of the return to indoor dining for New York City, during the coronavirus disease (COVID-19) pandemic, in New York, February 12, 2021. Brendan McDermid | Reuters Easing mask mandates and reopening restaurants have led to
At the International Space Station Research and Development Conference, the SpaceX and Tesla CEO talks sustainability, AI and education
JGI/Tom Grill | Tetra images | Getty Images Self-employed and gig workers who have been waiting for new rules that would mean larger forgivable loans through the Paycheck Protection Program can now move forward with their applications. As of Friday, the Small Business Administration is ready to accept and process updated PPP applications from sole
Virgin Galactic leaders in front of the New York Stock Exchange, from left: CEO George Whitesides, founder Richard Branson and Chairman Chamath Palihapitiya. Virgin Galactic Billionaire investor Chamath Palihapitiya, the chairman of Virgin Galactic who took the company public through a SPAC deal in 2019, sold his remaining personal stake earlier this week, a securities
Although many remain wary of the cryptocurrency, bitcoin has garnered a wave of support in recent months – in February alone, fintech company Square and enterprise software company MicroStrategy bought large sums of additional bitcoin to add to their existing portfolios, while electric car company Tesla added billions of dollars worth of the coin to
Volunteers load shopping bags with food assistance for laid off workers at a food distribution event on Dec. 12, 2020 in Orlando, Florida. Paul Hennessy/NurPhoto via Getty Images Democrats are poised to send more unemployment benefits to laid-off workers. Meanwhile, some workers are still waiting on the last tranche, authorized months ago. A $900 billion
A man walks past a store on January 12, 2021 in New York City. Angela Weiss | AFP | Getty Images Gap Inc. on Thursday predicted a bounce back to sales growth in 2021, hopeful that customers will soon return to its stores and spend more money on apparel as they look to resume some
An employee at Anthropologie at Fashion Island greets customers at the store in Newport Beach, CA on Tuesday, May 26, 2020. Paul Bersebach | MediaNews Group | Orange County Register via Getty Images Some of us are saying “so long” to sweat pants. In the final week of February, seven of the top 10 selling
You’ve probably received a phone call claiming your Social Security number has been compromised. For people who fall for such scams, the experience can add up to big financial losses. One elderly woman in Massachusetts lost more than $900,000 to a Social Security imposter scam operation, according to the office of the U.S. Attorney for
Morgan Stanley is now the biggest General Electric bull on Wall Street after analyst Josh Pokrzywinski raised his target on the stock to $17 on Thursday, up from his prior forecast of $13. Shares of GE briefly topped $14 per share after the markets opened Thursday, setting a new 52-week high before paring gains and
In 2009, my husband Vernon and I got married on the beach in Mazatlán, México. At our reception, we told each other that we would one day move there. Of course, life happened, and that dream was pushed off until later, perhaps when we were ready to retire. We had three beautiful kids, two cars,
Jason Lee | Reuters BEIJING — As the U.S. pumps trillions of dollars into its economy in the wake of the coronavirus pandemic, economists are concerned about spillover effects in China, including the risk of “imported inflation.” Worries about high inflation, or rapidly rising prices, hit U.S. markets last week. The U.S. Congress is reviewing
Louis Conforti, CEO of the Washington Prime Group, on CNBC’s Mad Money. Source: CNBC The U.S. shopping mall owner Washington Prime Group is preparing to potentially file for Chapter 11 bankruptcy protection, with time running thin before the company defaults after it skipped an interest payment on its debt, Bloomberg reported Thursday. Last month, Washington
chee gin tan | E+ | Getty Images The Small Business Administration on Wednesday released a new application and loan calculation formula for Paycheck Protection Program loans for self-employed and gig workers. For these small businesses, it will mean larger forgivable loan amounts going forward. The new PPP application for self-employed workers and sole proprietors
The SpaceX Falcon 9 rocket and Crew Dragon capsule stand upright on the launchpad at NASA’s Kennedy Space Center ahead of the Demo-2 launch. Elon Musk’s SpaceX denounced a subpoena from the Department of Justice for its corporate hiring records, saying in a court filing that the investigation by the federal agency’s Immigrant and Employee
Billionaire investor Mark Cuban has been at the forefront of the wave of interest in blockchain technology, smart contracts and NFTs, or non-fungible tokens. It’s “like the early days of all new tech, the excitement sometimes creates some unique situations,” Cuban tells CNBC Make It. Recently, NFT-based art in particular has been selling for sometimes
Federal Reserve Chairman Jerome Powell said Thursday that he expects some inflationary pressures in the time ahead but they likely won’t be enough to spur the central bank to hike interest rates. “We expect that as the economy reopens and hopefully picks up, we will see inflation move up through base effects,” Powell said during
A man enters a building with rental apartments available on August 19, 2020 in New York City. Eduardo MunozAlvarez | VIEW press | Corbis News | Getty Images Sales contracts in Manhattan soared by 73% in February, and brokers say the days of big price cuts and deals in the city may be ending. There
Senate Finance Committee Chairman Ron Wyden, D-Ore., speaks at a Senate Finance Committee hearing at the U.S. Capitol on Feb. 25, 2021. Tasos Katopodis | Getty Images News | Getty Images Senate Finance Committee Chair Ron Wyden, D-Ore., said Wednesday it’s a “prescription for trouble” to end jobless benefits for the long-term unemployed and gig
A Reddit logo seen displayed on a smartphone with stock market prices in the background. Omar Marques | LightRocket | Getty Images Shares of Rocket Companies dropped more than 11% in premarket trading Wednesday following a surprise rally in the previous session, as Wall Street analysts raised red flags on the frenzy trading. The online
John Rogers of Ariel Investments told CNBC on Wednesday that corporations can play a critical role in helping close the racial wealth gap in the United States. In an interview on “Closing Bell,” the firm’s co-CEO and chief investment officer pointed to retirement savings plans as one place to start addressing it. But even then,
Chinese tourists wear masks as protection from the pollution outside the Forbidden City during a day of high pollution in Beijing, China. Getty Images Sustainable investing is taking off in Asia-Pacific as institutional investors accelerated their environmental, social and governance (ESG) investments during the coronavirus pandemic last year. ESG investing prioritizes a company’s positive contributions
Frank Slootman, CEO, Snowflake Source: CNBC Snowflake shares fell as much as 7% before erasing most of the decline in extended trading on Wednesday after the data analytics software company gave full-year guidance that met but did not exceed analysts’ estimates. The stock had already dropped about 9% during regular trading Wednesday, amid a broad
General Motors employees work on the assembly line at the Fairfax Assembly & Stamping Plant in Kansas City, Kansas. Jim Barcus for General Motors DETROIT — General Motors is extending temporary shutdowns at three of its North American plants due to a global semiconductor chip shortage, which is expected to shed billions off automakers’ earnings
The headquarters of the US Securities and Exchange Commission (SEC). SAUL LOEB | AFP | Getty Images The Securities and Exchange Commission will probe conflicts of interest in financial advice this year with more vigor, at a time when market conditions may lead brokers to take advantage of clients with greater frequency, the federal agency
CNBC’s Jim Cramer said Wednesday he anticipates a ferocious travel recovery from the Covid pandemic, a development that would have significant implications for companies with exposure to the industry and for the U.S. economy overall. “It’s going to be a boom here in this country, and I don’t think people are ready for it,” Cramer
Dan Gilbert, chairman, Quicken Loans Anjali Sundaram | CNBC Tuesday’s dramatic and abnormal spike in the stock of Rocket Companies created a major windfall for founder Dan Gilbert, at least on paper. Shares of Rocket, where Gilbert is the majority shareholder, jumped more than 70% on Tuesday, adding $17.30 per share. According to InsiderScore.com and