‘Hard choices’ will need to be made about which bills go unpaid if the debt ceiling is not raised, Yellen says
Treasury Secretary Janet Yellen warned that the United States could default on its debt in June.
Financial News
China-Taiwan tensions could grip 2024 election as Musk, Buffett and Dalio sound alarms
Elon Musk, Warren Buffett, Ray Dalio and others have weighed in on the fraying U.S.-China relations and rising tensions over a possible invasion of Taiwan.
Fed Chair Powell says rates may not have to rise as much as expected to curb inflation
Powell spoke Friday at a “Perspectives on Monetary Policy” panel in Washington, D.C.
Market’s tech focus is ‘shortsighted,’ with a broader bull run coming, portfolio manager says
The market’s affinity for Big Tech stocks this year is shortsighted, according to portfolio manager Freddie Lait, who said the next bull market phase will broaden out.
Microsoft CEO Nadella talks concerns around A.I. and its impact on jobs, education
Microsoft CEO Satya Nadella discussed AI in a wide-ranging interview with CNBC’s Andrew Ross Sorkin Tuesday.
DOJ charges former Apple engineer with alleged theft of autonomous car tech for China
The software engineer fled to China the same day his home was searched, and allegedly stole or attempted to steal Apple’s “entire” autonomous source code.
EU approves Microsoft’s $69 billion acquisition of Activision Blizzard, clearing huge hurdle
Microsoft offered remedies in cloud gaming to earn the approval of European Union regulators for the $69 billion Activision Blizzard acquisition.
Turkey votes in crunch election as President Erdogan faces greatest threat to his 20-year rule
For the presidency — which is expected to be close — if no candidate wins more than 50%, the vote goes to a run-off two weeks later.
Google staffers praise engineers for I/O, poke fun at execs because they ‘just kept saying A.I.’
Google shares jumped after the company’s developer conference this week, and employees were quick to give the credit to engineers.
U.S. can avoid default in July if Treasury can make it through June cash crunch, Congressional Budget Office says
Tax revenues and emergency measures after June 15 will let Treasury “continue financing operations through at least the end of July,” said the CBO.