Day: April 4, 2025
Trump drops Biden’s proposal for Medicare to cover obesity drugs like Wegovy and Zepbound
A combination image shows an injection pen of Zepbound, Eli Lilly’s weight loss drug, and boxes of Wegovy, made by Novo Nordisk. Reuters President Donald Trump on Friday dropped a Biden administration proposal to have Medicare cover obesity drugs, including popular but costly GLP-1 treatments such as Novo Nordisk‘s Wegovy and Eli Lilly‘s Zepbound. But the Centers […]
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AppLovin can offer TikTok ‘much stronger bid than others,’ CEO says
Piotr Swat | Lightrocket | Getty Images AppLovin CEO Adam Foroughi provided more clarity on the ad-tech company’s late-stage effort to acquire TikTok, calling his offer a “much stronger bid than others” on CNBC’s “The Exchange” on Friday afternoon. Foroughi said the company is proposing a merger between AppLovin and the entire global business of […]
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Judge jails Trump clemency recipient Jonathan Braun after child assault arrest
The seal of the US Department of Justice in Washington, DC on March 21, 2024. Mandel Ngan | Afp | Getty Images A New York federal judge on Friday ordered the jailing of convicted drug dealer and predatory lender Jonathan Braun, whose 10-year prison sentence was commuted in 2021 by President Donald Trump, after a […]
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Former Microsoft CEO Steve Ballmer says, as shareholder, tariffs are ‘not good’
President Trump’s new tariffs on goods that the U.S. imports from over 100 countries will have an effect on consumers, former Microsoft CEO Steve Ballmer told CNBC on Friday. Investors will feel the pain, too. Microsoft’s stock dropped almost 6% in the past two days, as the Nasdaq wrapped up its worst week in five […]
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Tech megacaps lose $1.8 trillion in 2 days as Trump tariffs lead Nasdaq to worst weekly drop in 5 years
SpaceX CEO Elon Musk attends a cabinet meeting held by U.S. President Donald Trump at the White House on March 24, 2025. Win McNamee | Getty Images No one is getting hit harder than technology megacaps as markets hit selloff mode. Once powering the market to new highs, the group known as the Magnificent Seven […]
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Medicare, Medicaid agency cuts jobs from minority health office, other divisions, as RFK Jr. guts U.S. health department
An aerial of the Centers for Medicare & Medicaid Services building on March 19, 2025 in Woodlawn, Maryland. Kayla Bartkowski | Getty Images The Centers for Medicare & Medicaid Services has slashed jobs from its minority health office and other divisions, CNBC has learned, as Robert F. Kennedy Jr. upends the U.S. health department. During […]
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Affirm heads for second-worst week on record on tariff worries, Klarna delayed IPO
Igor Golovniov | SOPA Images | Lightrocket | Getty Images Affirm shares have plunged nearly 30% over the past two trading days and are on track to close out their second-worst week on record, following President Donald Trump’s sweeping tariff announcement on Wednesday. Widespread tariffs could represent a particular problem for Affirm because the provider […]
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Microsoft birthday celebration interrupted by employees protesting use of AI by Israeli military
At Microsoft‘s 50th anniversary celebration on Friday, a software engineer in the company’s artificial intelligence division interrupted the event with a message: Stop allowing the Israeli military to use Microsoft’s AI products. At the time, Microsoft AI CEO Mustafa Suleyman was delivering a speech. “Mustafa, shame on you,” the employee, Ibtihal Aboussad, said as she […]
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Stocks making the biggest moves midday: Palantir, Caterpillar, Apple, JPMorgan Chase and more
Check out the companies making headlines in midday trading: Bank stocks — Major banks declined on Friday, as President Donald Trump’s new tariff policies increasingly raised fears of a U.S. economic pullback. Shares of Goldman Sachs , Citigroup , Morgan Stanley and Wells Fargo tumbled about 8%. JPMorgan dropped 7%. Tesla , Palantir Technologies — […]
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Trump extends TikTok deadline for the second time
Muhammed Selim Korkutata | Anadolu | Getty Images President Donald Trump on Friday extended a deadline requiring China-based ByteDance to sell the U.S. operations of TikTok or face an effective ban in the country, marking the second time he has taken such action. Trump announced the extension on his Truth Social platform, saying the TikTok […]
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