Business News

Wednesday, Oct 17, 2018 at 07:09 PM EDT

New York AG Launches Probe Into MoviePass Parent Company

New York AG Launches Probe Into MoviePass Parent Company

New York Attorney General Barbara Underwood has opened a probe into MoviePass parent company Helios and Matheson, a person familiar with the matter told CNBC. The attorney general's office is investigating...

Wednesday, Oct 17, 2018 at 03:51 PM EDT

US Says It Plans to Leave UN Postal Rate System

US Says It Plans to Leave UN Postal Rate System

The United States announced Wednesday that it is preparing to pull out of an international postal treaty that allows China to ship packages to America at discounted rates. The move would escalate a trade dispute...

Tuesday, Oct 16, 2018 at 03:44 PM EDT

Facebook Hack Affected 3 Million in Europe

Facebook Hack Affected 3 Million in Europe

Approximately 3 million Europeans were affected by a September Facebook security breach in which users’ personal information was stolen, the Irish Data Protection Commission told CNBC on Tuesday. This security...

Tuesday, Oct 16, 2018 at 10:50 AM EDT

Judge Approves Elon Musk's Tesla Settlement With SEC

Judge Approves Elon Musk's Tesla Settlement With SEC

A judge approved Tesla CEO Elon Musk's settlement with the Securities and Exchange Commission over allegations that Musk committed fraud when he said he had secured the funding needed to take Tesla private. Te...

Tuesday, Oct 16, 2018 at 04:42 AM EDT

'Patients Deserve to Know': US Wants Drug Prices in TV Ads

'Patients Deserve to Know': US Wants Drug Prices in TV Ads

The federal government said Monday that it wants to force drugmakers to disclose prices for prescription medicines in their TV commercials. The drug industry's main trade group said drug companies are only...

Monday, Oct 15, 2018 at 02:43 PM EDT

US Budget Deficit Expands to $779 Billion in Fiscal 2018

US Budget Deficit Expands to $779 Billion in Fiscal 2018

The U.S. federal budget deficit rose in fiscal year 2018 as spending climbed, the Trump administration said Monday. The deficit jumped to $779 billion, $113 billion higher than the previous fiscal period,...

Monday, Oct 15, 2018 at 11:51 AM EDT

Bottle of Wine Sells for a Record $558,000

Bottle of Wine Sells for a Record $558,000

A 73-year-old bottle of French Burgundy became the most expensive bottle of wine ever sold at auction, fetching $558,000. The bottle of 1945 Romanee-Conti sold at Sotheby's for more than 17 times its original...

Monday, Oct 15, 2018 at 02:27 PM EDT

Trump Administration Eyes Military Bases for Coal, Gas Exports

Trump Administration Eyes Military Bases for Coal, Gas Exports

The Trump administration is considering using West Coast military bases or other federal properties as transit points for shipments of U.S. coal and natural gas to Asia as officials seek to bolster the domestic...

Monday, Oct 15, 2018 at 10:22 AM EDT

Sears Through the Years: From Watch Seller to Tower Builder

Sears Through the Years: From Watch Seller to Tower Builder

Sears got its start as a watch seller more than 130 years ago and grew to become one of the world's largest retailers. But the company has struggled in recent years and on Monday filed for Chapter 11 bankruptcy....

Monday, Oct 15, 2018 at 02:51 PM EDT

Sears Files for Chapter 11 Amid Plunging Sales, Massive Debt

Sears Files for Chapter 11 Amid Plunging Sales, Massive Debt

Sears filed for Chapter 11 bankruptcy protection Monday, with plans to shutter 142 unprofitable stores in the hopes that it can stay in business. The question now is whether a smaller version of the company...

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