business news
OpenAI pulls back from Stargate Norway data center deal as Microsoft takes over
OpenAI has abandoned plans to rent compute capacity directly from a Norwegian data center, days after confirming it paused a similar project in the U.K. Microsoft is taking the extra compute previously earmarked for OpenAI at a planned 230MW “Stargate Norway” facility in Narvik. OpenAI is now in discussions to rent capacity from Microsoft instead, […]
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Bank of America earnings, Kalshi’s DC charm offensive, a United-American merger and more in Morning Squawk
This is CNBC’s Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Good morning, and happy Tax Day. As of last week, the average tax refund this year is more than 10% higher than the same time a year ago, according to IRS data. S&P 500 futures are little changed this morning after the […]
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Walmart is refreshing the look of Great Value, its largest private label brand
Walmart‘s largest private brand, Great Value, is getting a fresh look. Starting in May, the brand’s approximately 10,000 items that span from LED lightbulbs to gallons of milk and frozen chicken nuggets will hit the shelves in new packaging, the company announced Wednesday. Walmart first launched the brand in 1993 and hasn’t changed its look […]
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Starbucks launches beta app in ChatGPT to fuel new drink discovery
A sample prompt in ChatGPT using Starbucks’ beta app Source: Starbucks Starbucks has launched a beta app in ChatGPT to provide inspiration for customers’ drink orders, the company said Wednesday. To use the beta app, customers need to enable the Starbucks app through ChatGPT’s app directory and then enter a prompt on the chatbot that […]
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Top Energy Democrat probes Trump administration’s preparations for Strait of Hormuz closure
U.S. Sen. Martin Heinrich (D-NM) speaks to reporters after a roundtable on rising energy costs on Capitol Hill on March 17, 2026 in Washington, DC. Anna Moneymaker | Getty Images The top Democrat on the Senate Energy and Natural Resources Committee is probing whether the Trump administration adequately planned for the effective closure of the […]
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Why are workers so worried about AI? Listen to how business leaders talk about it
Wenjin Chen | Digitalvision Vectors | Getty Images The widespread fear among workers of being replaced by AI now or in the future has been well documented. Recent headlines about Block and Oracle and layoffs only amp up the worry among workers being asked to learn this new technology. And while some of the concerns […]
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Stocks making the biggest moves premarket: Bank of America, Morgan Stanley, Robinhood & more
Check out the companies making the biggest moves premarket: Bank of America — The stock gained more than 1% after the banking giant posted better-than-expected results for the first quarter . Bank of America earned $1.11 per share on revenue of $30.43 billion. Analysts expected a profit of $1.01 per share on revenue of $29.93 […]
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U.S. Treasury yields hold steady as markets eye Middle East resolution
Traders work at the New York Stock Exchange on Feb. 18, 2026. NYSE U.S. Treasury yields were little changed on Wednesday as investors monitored signals from the White House that talks to resolve the Middle East conflict will resume this week. The yield on the 10-year U.S. Treasury note — the key benchmark for government borrowing […]
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Morgan Stanley tops estimates as trading revenue exceeds expectations by $1 billion
Ted Pick, CEO of Morgan Stanley speaks on CNBC’s Squawk Box outside the World Economic Forum in Davos, Switzerland on Jan. 23, 2025. Gerry Miller | CNBC Morgan Stanley reported first-quarter earnings before the opening bell Wednesday. Here’s what the company reported: Earnings: $3.43 a share, vs. $3 LSEG estimate Revenue: $20.58 billion, vs. […]
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Snap’s stock jumps 11% on plans to axe 16% of its workforce citing AI efficiencies
Omar Marques | SOPA Images | Lightrocket | Getty Images Snap‘s shares jumped on Wednesday after the company announced plans to slash up to 16% of its global workforce, citing AI-driven efficiencies. CEO Evan Spiegel said in a letter to staff that the reduction would affect around 1,000 members of staff and that at least […]
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