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BASF plans cost cuts, sells silicates unit to PQ Source link
Amazon founder Jeff Bezos shrugged off concerns of a looming artificial intelligence bubble on Wednesday, telling CNBC that the massive investments will ultimately help push the technology forward in the long run. “Even if it does turn out to be a bubble, you shouldn’t worry about it because the bubble is driving investment and a lot of the investment is going to turn out to be very healthy,” Bezos told CNBC’s Andrew Ross Sorkin in an interview on “Squawk Box.”Record valuations and deals driven by hefty investments in AI have fueled the AI boom, leading some to wonder if it’s…
Two police officers who defended the U.S. Capitol during the Jan. 6, 2021, riot sued President Donald Trump on Wednesday, seeking to block the new $1.8 billion “lawfare” fund set up by the Department of Justice to compensate Trump allies who claim they were victims of prosecutorial overreach.”In the most brazen act of presidential corruption this century, President Donald J. Trump has created a $1.776 billion taxpayer-funded slush fund to finance the insurrectionists and paramilitary groups that commit violence in his name,” the lawsuit in U.S. District Court in Washington, D.C., says.”The fund, styled the ‘Anti-Weaponization Fund,’ is illegal,” the…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Italy’s Intesa Sanpaolo is exploring a bid for Spanish private bank Singular, in a move that would represent a rare example of cross-border dealmaking among European lenders. Intesa, one of Europe’s most valuable banks, had begun due diligence on Singular and was preparing a formal offer as part of a competitive bidding process, people familiar with the matter told the FT. The move comes as Intesa seeks to boost its presence in wealth management and expand into Spain. Singular, which is majority…
German multinational footwear company brand Reebok store is seen in Hong Kong.Budrul Chukrut | LightRocket | Getty ImagesAuthentic Brands Group, the management firm behind dozens of retail names including Reebok, Champion and Brooks Brothers, has tapped a former Wynn Resorts CEO to be its next chief executive, signaling it’s inching closer to an IPO. Maddox, who joined Authentic as president in January 2025 after a 20-year career at Wynn, will succeed founder Jamie Salter, who will transition to executive chairman, the firm said Wednesday.In his new role, Salter will remain “deeply engaged in the business” and focused on the mergers and…
Brazil’s iFood sues Meituan-backed Keeta over alleged espionage Source link
Beijing banned an Nvidia gaming chip while the company’s chief executive, Jensen Huang, was visiting China with Donald Trump last week, the latest salvo in the superpowers’ battle to dominate AI. The chip was added to a list of banned goods at China’s customs checkpoints last Friday, according to a copy of the document seen by the FT and two people with knowledge of the matter. The move highlights Beijing’s determination to keep out Nvidia’s chips, especially the degraded versions made to comply with US export controls. The Chinese government wants to support domestic chipmakers such as Huawei and Cambricon…
The government says the system is “broken”, with too many people signed off work with no help to return. Source link
Female apprentice engineer working with CNC machine in factoryWitthaya Prasongsin | Moment | Getty ImagesThe days of going to college to secure a lucrative career are over, as skilled trade workers have seen a 30% wage bump in the past few years, the CEO of the world’s largest recruitment firm told CNBC.Sander van’t Noordende, CEO of Dutch staffing giant Randstad, recommended the skilled trades career track to young people in an interview on CNBC’s “Squawk Box Europe” on Wednesday. “I would say the days of going to college and doing something in an office, they are over,” Noordende said. “You’ve…
Stellantis CEO Antonio Filosa speaks during an event in Turin, Italy, Nov. 25, 2025.Daniele Mascolo | ReutersDETROIT — Stellantis CEO Antonio Filosa has said leading the transatlantic automaker is a dream come true, but the company’s stock has been anything but that for investors under his short tenure thus far.Stellantis stock is off nearly 30% since Filosa, a company veteran from Italy who climbed through the ranks, was named CEO nearly a year ago. It’s down about 21% since he officially started as CEO last June.Tune in Thursday, May 21, at 10:25 a.m. ET: CNBC’s Phil LeBeau interviews Stellantis CEO…