Author: Editor-In-Chief
In a scathing ruling, a federal judge blocked a subpoena issued by a grand jury to the Federal Reserve System as part of Chairman Jerome Powell’s criminal investigation. U.S. Attorney for the District of Columbia Jeanine Pirro said after the verdict was unsealed Friday that the Justice Department would immediately appeal what she called the “outrageous” sentence.Friday’s action is likely to keep Powell in the chair for longer, as Republican Sen. Thom Tillis has vowed to block Kevin Warsh from confirming Powell’s replacement until the federal investigation is concluded.This could mean interest rates will remain higher for a longer period…
In a blistering 27-page ruling, a U.S. judge granted a motion to quash two subpoenas related to the investigation into Jerome Powell, chairman of the Federal Reserve, the nation’s central bank.On Friday, Judge James Boasberg of the U.S. District Court for the District of Columbia concluded that the subpoena was issued for the “improper purpose” of harassing Powell into compliance.Recommended stories list of 3 itemsend of listBoasberg explained that Powell had been the target of a months-long campaign under President Donald Trump to force the Federal Reserve to cut interest rates quickly and significantly.Trump has repeatedly called on Powell to…
Red Bull team principal Laurent Mequise has apologized to Max Verstappen after he called their pace a “disaster” during sprint qualifying for the Chinese Grand Prix.Verstappen and Red Bull teammate Izak Hajar only made it to SQ3 on Friday, finishing eighth and 10th in Saturday’s sprint qualifying at 3am UK time, which was broadcast live on Sky Sports F1. More worryingly, on a track that tests the all-round ability of an F1 car, Verstappen was 1.734 seconds behind sprint pole sitter George Russell, who led teammate Kimi Antonelli in a Mercedes one-two. “I’m sorry, Max. It’s been difficult and I…
Mini series | E+ | Getty ImagesThe average tax refund so far this season is up 10.6% compared to about the same time in 2025, according to the latest IRS filing data.As of March 6, the average refund for individual filers was $3,676, up from $3,324 about a year ago, the IRS reported Friday. The average is down from $3,742 reported last week. The latest filing data reflects that approximately 60.7 million individual tax returns have been received, out of approximately 164 million expected by the April 15 deadline.Read more CNBC’s personal finance coverageAverage IRS tax refund increases 10.6%, filing…
Tesla CEO Elon Musk attends the US-Saudi Investment Forum held at the Kennedy Center in Washington, DC, USA on Wednesday, November 19, 2025.Bloomberg | Bloomberg | Getty ImagesLess than six weeks after Elon Musk merged SpaceX and xAI in a deal valued at $1.25 trillion, the world’s richest man admits his artificial intelligence startup is “being rebuilt from the ground up because it wasn’t built right from the beginning.”Musk made the comments criticizing X, which is now owned by SpaceX, following the recent departure of some of xAI’s co-founders. The most recent incident occurred this week when it was reported…
Gaelic Warrior claimed Gold Cup glory at the Cheltenham Festival, but the race was somewhat overshadowed when Envoi Allen collapsed and died after finishing.Gaelic Warrior, jockey Willie Mullins’ only runner in the most prestigious race on the National Hunt calendar and second favorite on 11/4, was ridden by Paul Tend and shared the lead with Nicky Henderson’s Django Bey. Rebecca Curtis’s Haitian Krulls raced for Wales, but his turn home disappeared, while Harry Redknapp’s The Jukebox Man ran well over the distance, with Gaelic Warrior winning by eight lengths over Django Bey, so owners may still be dreaming before it…
You can chart a year through product launches, or you can measure it in big moments that change the way you look at AI. The AI industry is constantly bombarded with news: big acquisitions, indie developer success, public outcry over sketchy products, and existential contract negotiations. There is a lot of information that needs to be clarified. So, let’s take a glimpse of where we are this year and how things have gone so far. Man vs. Pentagon Anthropic CEO Dario Amodei and Defense Secretary Pete Hegseth, former business partners, reached a bitter stalemate in February over renegotiating a contract…
Aerial view of two-story single-family homes lining a neighborhood street in Thousand Oaks, California, on January 13, 2026.Kevin Carter | Getty ImagesMortgage rates rose to their highest level since September on Friday as bond yields rose in the wake of the Iran war. The average interest rate on a 30-year fixed loan reached 6.41%, according to Mortgage News Daily. This is the highest level since the first week of September, but is still lower than the 6.78% rate for the same period last year.Mortgage rates have roughly tracked the 10-year Treasury yield, which rose again on Friday. “This is counterintuitive…
Nvidia unveiled its latest Vera CPU to CNBC on February 13, 2026 at its headquarters in Santa Clara, California.Mark Ganley | CNBCNvidiaThe graphics processing unit of has been the best-selling chip for many years, but the sudden emergence of agent-based artificial intelligence has led to the resurgence of a more modest host chip: the central processing unit. Now, Nvidia is poised to announce new details about its agent-optimized CPUs at its annual GTC conference, which begins Monday, and CPU-only racks could be hitting showroom floors.Dion Harris, Nvidia’s head of AI infrastructure, told CNBC this week that “the CPU is becoming…
Russian President Vladimir Putin chairs a meeting of the Presidential Council on Civil Society and Human Rights via video link in Moscow, Russia, December 9, 2025.Gabriel Grigorov | via ReutersPresident Donald Trump said Friday that he believes Russian President Vladimir Putin is supporting Iran in its war against the United States and Israel.Trump’s comments came during a radio interview with Fox News host Brian Kilmeade, a week after the president slammed Fox News reporter Peter Doocy for questioning him at the White House about reports of Russia aiding Iran.Kilmeade asked Trump on Friday: “Do you think President Putin is helping…