Crossfiled
Elon Musk's Tesla and SpaceX lose over $420 billion in combined market cap after midterms
Elon Musk's Tesla and SpaceX lose $420 billion in combined market cap after midterms
Crossfiled / Topics / Money
Money
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5 healthcare fights Democrats could take on after midterms sweep
Democrats will have leverage to try to restore the expired Obamacare tax credits, reverse Medicaid cuts and push for changes they say would make healthcare more affordable.
Bank of England raises interest rates to 4%, the first increase for more than three years
Base rate increases from 3.75% and Bank governor signals another rise in near future to combat rising inflation Analysis: Interest rate rise in midst of cost of living crisis will leave many incredulous The Bank of England has raised interest rates for the first time in three years and warned of ano
Binance Says Hackers Plotted $6.3 Billion Crypto Heist for Months
A report from the cryptocurrency exchange described a monthslong campaign involving fake job interviews that exploited an engineer’s work computer and an internal A.I. tool.
Major tech stocks plunge as US midterms add to fears of AI slowdown
The market has been reacting to possible tougher scrutiny of data centre construction and the AI industry following the US mid-terms
Canada Tax Plan Aims to Compete With US for Jobs
Canada pushes to make the country less dependent on its southern neighbor as Mark Carney delivers his second federal budget.
IRS announces new federal income tax brackets for 2027
The IRS has announced higher federal income tax brackets and standard deductions for 2027. Here's what taxpayers need to know.
Stocks Erase Post-Midterm Elections Rally, Dragged Down by Tech
The S&P 500 slumped to its worst daily decline since April 2025 and the tech-heavy Nasdaq entered correction territory, as investors fretted about the durability of the A.I. build-out.
Nvidia Plunges 9% as AI Selloff Wipes Out $2.3 Trillion
Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Kailey Leinz, Carol Massar and Tim Stenovec. (Source: Bloomberg)
The October jobs report is out Friday. Here's everything to expect
The Bureau of Labor Statistics releases the October nonfarm payrolls report Friday at 8:30 a.m. ET.
Oil's Sudden Price Drop Surprises Citi's Chronert
Citi Head of US Equity Strategy Scott Chronert says the sudden drop in oil prices on Wednesday surprised him. Brent fell almost 9% then rebounded on Thursday. He says that took some pressure off of the inflation backdrop. (Source: Bloomberg)
AI storm dooms tech stocks to US$2 trillion decline on darkest day since 2025
Big tech stocks slumped on Thursday in their biggest decline since the “Liberation Day” rout last year, extending what has been a punishing autumn for the AI trade. The Nasdaq 100 index was set for market value declines exceeding US$2 trillion on investor fears that the Democratic Party’s sweepin
RFK Jr.’s Appointees to Health Task Force Included Four Allowed to Keep Drug Stocks
New members of the influential U.S. Preventive Services Task Force were given waivers to serve with financial conflicts.
Interest rate hike: why housing is about to get even more expensive
The UK’s rising interest rate is hitting the country’s homeowners hard and threatens to worsen the cost of living crisis.
'Not my job to set a budget,' says secretary of state
Sir Chris Bryant is understood to have asked parties to commit to raising an extra £200m in income.
AI Fears Rattle Wall St., Safe Havens
"Bloomberg Real Yield" highlights the market-moving news you need to know. Today's guests: Vanguard Senior Fixed Income Client Portfolio Manager Rebecca Venter, TCW Generalist Portfolio Manager, Fixed Income Ruben Hovhannisyan, Solus Asset Management Chief Strategist Dan Greenhaus, MFS Investment Ma
Democrats and the AI economy
A blue wave has swept Washington, but many of the forces shaping the US economy remain out of Congress's control. From stubborn inflation and the AI boom to Elon Musk's political setback and the backlash against billionaires, US economics editor Dan Burns joins host Carmel Crimmins to break down the
HSA-eligible health plans in 2027: What to know about tax savings vs. higher deductibles
Many employees are eligible to choose an HSA-eligible high-deductible health plan during open enrollment. Here's what to know before enrolling.
Computer error leaves major city $4 million in the hole for the upcoming year
A computer formula error reversed two airport-related budget entries after the county switched from manual calculations to an automated system
October crypto-tracker hack: Access cracked, law enforcement tokens packed
Agentic 'on-path attack' went after Chainalysis's tools, which are routinely called upon to assist police investigations
How to Prep the Best Budget Friendly and Festive Thanksgiving Meal
With rising food costs top of mind, there’s a lot you can do between now and Thanksgiving to make your holiday meal more affordable. NBC’s Allie Canal joins TODAY to share how to find the best deals.
AI stocks plunge after US election, driving down markets
Tech stocks lead US market slide as investors weigh impact of midterm election results on AI industry.
Three tax proposals targeting the rich that the new Congress could revive
Democrats' sweeping victories could revive tax proposals targeting carried interest, large trusts, and borrowing against stock.
Now comes the test for Dems: household budget relief
Democrats won the midterms on voter frustration with high prices . Now they face the same problem that sank Republicans: Americans want lower prices, and there is little that policymakers can do to deliver them quickly. Why it matters: Prices for necessities like groceries and gas can fall in a heal
Las Vegas Raiders owner Mark Davis says he's 'not a fan' of sports gambling amid prediction market boom
In an interview with CNBC Sport, Las Vegas Raiders owner Mark Davis expressed concerns about the expansion of sports gambling, particularly proposition bets.
Democratic sweep puts crypto on defensive in Washington
Democrats in Congress could impose tougher rules on crypto and investigate President Donald Trump, ushering in a tougher era for the industry.
Ohio's most popular midterm Republican says election results hold a warning for Dems
Frank LaRose says the Republican Party must refocus on human freedom and free market principles after GOP candidates struggled on Election Day.
Barkin sees interest rate hikes ahead, but at a gradual pace
In a CNBC interview, the policymaker expressed concern over inflation and said monetary policy will need to adjust.
California’s billionaire tax faces defeat, but Democrats plan higher taxes on the wealthy
The likely defeat of the California billionaire tax may energize Democrats in Congress to propose federal tax hikes on high earners, according to tax experts.
Photos: Thousands rally in France over rising costs and economic struggles
Trade unions led more than 260 planned protests nationwide, urging government to address economic woes and wage demands.
Global travel sector grows despite headwinds
The global tourism sector is growing, despite conflicts and economic uncertainty. That's the finding of a new report by World Travel Market, which says the number of international arrivals is set to hit a record 1.57 billion in 2026.
US labour market holds firm as weekly lay-offs tumble to 57-year low
The number of Americans filing new claims for unemployment slipped to a 57-year low last week as lay-offs fell against the backdrop of a resilient labour market. Initial claims for state unemployment benefits dropped 6,000 to a seasonally adjusted 189,000 for the week ended October 31, the Labour De
The Download: Texas’s fragile AI boom and energy policy shifts
This is today’s edition of The Download, our weekday newsletter that provides a daily dose of what’s going on in the world of technology. Texas was the new epicenter of the AI data center buildout. That might be kaput. Texas is the fastest-growing data center market in the US and ground zero for Big
US borrowing outlook steadies after midterms, but Treasury yields face new tests: analysts
After the Democrats swept the US midterm elections, a divided government may help restrain future Treasury borrowing and prevent fresh deficit blowouts, though it will not necessarily bring down elevated bond yields, analysts say. The US Treasury Department unveiled its quarterly refunding statement
The US-China tech contest has moved – to the gatekeeping product testers
The latest front in the US-China technology contest is not advanced chips, artificial intelligence (AI) or telecommunications equipment. It is the laboratories that certify whether an electronic product may enter the American market. On October 29, the US Federal Communications Commission (FCC) vote
Agility Robotics' Nasdaq debut invites scrutiny of humanoid robot market
US leader in deploying humanoid robots goes public on the Nasdaq stock exchange.
China ready to expand US agricultural imports if Board of Trade tariff cuts take effect
Beijing says it remains open to buying more agricultural products from the United States, but wants reciprocal tariff cuts covering US$30 billion worth of products on each side to be implemented first under the US-China Board of Trade. “China has always maintained an open attitude towards expanding
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