business news

FCC authorizes SpaceX to provide Starlink mobile internet service for boats, planes and trucks

FCC authorizes SpaceX to provide Starlink mobile internet service for boats, planes and trucks

The Starlink logo is seen in the background of a woman with a silhouette holding a mobile phone. Sopa Images | Lightrocket | Getty Images The Federal Communications Commission has authorized SpaceX to provide Starlink with satellite Internet vehicles in motion, which is a key step for Elona Maska’s company to further expand the service. …

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EU agrees on significant regulations to clean up "Wild West" crypto

EU agrees on significant regulations to clean up “Wild West” crypto

Bitcoin is a variable asset and is known to fluctuate more than 10% higher or lower in one day. Jakub Porzicki Nurphoto | Getty Images EU officials reached an agreement Thursday on what is likely to be the first major regulatory framework for the cryptocurrency industry. The European Commission, EU MPs and member states reached …

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Former Apple JC Penny, CEO of Ron Johnson's Enjoy Technology, filed for bankruptcy months after it went public

Former Apple JC Penny, CEO of Ron Johnson’s Enjoy Technology, filed for bankruptcy months after it went public

Ron Johnson during a panel discussion at the CNBC Evolve event in New York on June 19, 2019. Astrid Staviarz | CNBC Enjoy Technologies, a retail startup founded by former Apple and JC Penny CEO Ron Johnson, filed for protection against Chapter 11 bankruptcy on Thursday, just a few months after it debuted on the …

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The Fed's preferred measure of inflation rose 4.7 percent in May, around multi-decade highs

The Fed’s preferred measure of inflation rose 4.7 percent in May, around multi-decade highs

A customer counts their cash at the register while purchasing an item at a Best Buy store in Flushing, New York. Jessica Rinaldi | Reuters Inflation held stubbornly high in May, although the monthly increase was slightly smaller than expected, according to Commerce Department measures closely watched by the Federal Reserve. Prices for core personal …

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Walgreens beats sales expectations as retail growth helps offset sharp decline in Covid vaccines

Walgreens beats sales expectations as retail growth helps offset sharp decline in Covid vaccines

The Walgreens store at State and Randolph in Chicago. Nancy Stone | Chicago Tribune | Tribune News Service via Getty Images Walgreens Boots Alliance on Thursday reported quarterly sales and earnings that beat expectations, as its retail sales rebounded and online purchases grew. But shares fell about 2% in premarket trading as demand for Covid-19 …

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North Korea is probably the culprit for the robbery of cryptocurrencies worth 100 million dollars, researchers say

North Korea is probably the culprit for the robbery of cryptocurrencies worth 100 million dollars, researchers say

Photo illustration showing the North Korean flag and a computer hacker. Budrul Chukrut | Sopa Images | Lightrocket | Getty Images The hackers, sponsored by the North Korean state, were probably the perpetrators of the hacking that led to the theft of about 100 million dollars in cryptocurrency, according to the analysis of the blockchain …

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Grayscale is suing the SEC after rejecting a bid to convert the largest bitcoin fund into an ETF

Grayscale is suing the SEC after rejecting a bid to convert the largest bitcoin fund into an ETF

The SEC on Wednesday rejected Graiscale’s application for a spot bitcoin ETF, citing the investment manager’s failure to respond to questions about market manipulation concerns. Nurphoto | Nurphoto | Getty Images Graiscale, which runs the world’s largest bitcoin fund, said it would sue the US Securities and Exchange Commission after regulators rejected its bid to …

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