watch now VIDEO 16:44 16:44 Sens. Schiff and Curtis on the Prediction Markets Are Gambling Act, state of DHS negotiations Squawk Box A pair of bipartisan senators on Wednesday said they're keeping their push to ban sports prediction market contracts, despite Kalshi and Polymarket announcing new insider-trading restrictions on their platforms. "It's got to be more than an aspirational statement by ...
watch now VIDEO 16:44 16:44 Sens. Schiff and Curtis on the Prediction Markets Are Gambling Act, state of DHS negotiations Squawk Box A pair of bipartisan senators on Wednesday said they're keeping their push to ban sports prediction market contracts, despite Kalshi and Polymarket announcing new insider-trading restrictions on their platforms. "It's got to be more than an aspirational statement by these companies," Sen. Adam Schiff , D-Calif., told CNBC's " Squawk Box " when asked about those platforms' self-imposed new rules. Kalshi on Monday said it would preemptively block politicians, athletes and "other relevant people" from betting on their own campaigns or sporting events. The same day, Polymarket announced it would impose its own guardrails to address insider trading and market manipulation. The new restrictions came as Schiff and Sen. John Curtis, R-Utah, introduced legislation that would give states, rather than federal regulators, control over sports betting and casino-style games. The bill would prohibit Commodity Futures Trading Commission-registered entities from listing any such prediction contract. In a joint CNBC interview Wednesday morning, the senators said the companies' efforts to police themselves are insufficient. watch now VIDEO 3:18 03:18 Kalshi to ban athletes, politicians from trading on their own sports & campaigns Squawk Box "I don't think it's enough," Schiff said. "It's one thing to say, 'This is our policy.' It's another actually to put into place the steps to make sure it's not happening on those platforms." Curtis has said his bill with Schiff, the "Prediction Markets are Gambling Act," is about "keeping speculative financial products out of spaces where they don't belong." "You have to ask, 'What could go wrong?'" he said on CNBC. "Imagine betting on a high school athlete getting hurt the day of a high school game ... You can see how wrong that could go." Read more CNBC politics coverage Pakistan offers to facilitate U.S.-Iran war t...
The Nasdaq is staging a meaningful recovery Wednesday morning, with the index up 1.1% as of the early session, driven by two catalysts: a sharp drop in oil prices tied to potential U.S.-Iran peace negotiations, and a dramatic move in tech broadly. One of the leading stocks driving the rally today is Arm Holdings (NASDAQ:ARM) ... The Nasdaq Could Pop 2% On Today’s News
The Nasdaq is staging a meaningful recovery Wednesday morning, with the index up 1.1% as of the early session, driven by two catalysts: a sharp drop in oil prices tied to potential U.S.-Iran peace negotiations, and a dramatic move in tech broadly. One of the leading stocks driving the rally today is Arm Holdings (NASDAQ:ARM) ... The Nasdaq Could Pop 2% On Today’s News
FTSE 100 up 113 points to 10,078 Brent oil price hovers near $100 Iran says 'non-hostile' vessels allowed through Hormuz US 15-point proposal passed to Tehran via intermediary countries Trading updates from Asos, Diageo, Crest Nicholson, RS Group 1.57pm: US stocks see strong early...
FTSE 100 up 113 points to 10,078 Brent oil price hovers near $100 Iran says 'non-hostile' vessels allowed through Hormuz US 15-point proposal passed to Tehran via intermediary countries Trading updates from Asos, Diageo, Crest Nicholson, RS Group 1.57pm: US stocks see strong early...
OpenAI's recently announced plans to shutter its Sora video-generating app have also scuttled the company's planned $1 billion licensing partnership with Disney, according to multiple press reports. "As the nascent AI field advances rapidly, we respect OpenAI’s decision to exit the video generation business and to shift its priorities elsewhere," Disney said in a statement provided to media outlet...
OpenAI's recently announced plans to shutter its Sora video-generating app have also scuttled the company's planned $1 billion licensing partnership with Disney, according to multiple press reports. "As the nascent AI field advances rapidly, we respect OpenAI’s decision to exit the video generation business and to shift its priorities elsewhere," Disney said in a statement provided to media outlets. "We appreciate the constructive collaboration between our teams and what we learned from it, and we will continue to engage with AI platforms to find new ways to meet fans where they are while responsibly embracing new technologies that respect IP and the rights of creators." Disney and OpenAI announced the blockbuster three-year licensing deal in December, saying that over 200 Disney-owned characters would be available for use in Sora-generated videos. At the same time, Disney said it would be making a $1 billion equity investment in the AI company. Read full article Comments
Shares of Apple (NASDAQ:AAPL) have been steadily sinking lower since the year began, but things could have been a whole lot worse, especially given the state of the tech trade and fellow Mag Seven firm Microsoft (NASDAQ:MSFT) nosediving more than 31% from its all-time highs. Of course, there’s a hint of enthusiasm when it comes ... Opinion: Apple’s a Massive Share-Taker Amid Sky-High Memory Prices
Shares of Apple (NASDAQ:AAPL) have been steadily sinking lower since the year began, but things could have been a whole lot worse, especially given the state of the tech trade and fellow Mag Seven firm Microsoft (NASDAQ:MSFT) nosediving more than 31% from its all-time highs. Of course, there’s a hint of enthusiasm when it comes ... Opinion: Apple’s a Massive Share-Taker Amid Sky-High Memory Prices
The company’s launch of enterprise-focused processors shows that it’s ready to ship high volumes of products made with its new chip technology, an analyst said.
The company’s launch of enterprise-focused processors shows that it’s ready to ship high volumes of products made with its new chip technology, an analyst said.
A SpaceX IPO filing could come this week, The Information reported. Elon Musk's space company could seek to raise a record $75 billion. Space stocks soared.
A SpaceX IPO filing could come this week, The Information reported. Elon Musk's space company could seek to raise a record $75 billion. Space stocks soared.
The BBC has named former Google executive Matt Brittin as its new director-general, as the public broadcaster faces challenges to its funding model and a lawsuit from President Donald Trump over a misleading edit. Brittin will take the role from May 18, the BBC said in a statement on Wednesday. The post will be filled on an interim basis by Rhodri Talfan Davies, a BBC board member. Predecessor Tim...
The BBC has named former Google executive Matt Brittin as its new director-general, as the public broadcaster faces challenges to its funding model and a lawsuit from President Donald Trump over a misleading edit. Brittin will take the role from May 18, the BBC said in a statement on Wednesday. The post will be filled on an interim basis by Rhodri Talfan Davies, a BBC board member. Predecessor Tim Davie was in post for about five years and resigned last November over a Panorama documentary that misrepresented Trump’s comments. “Matt’s passion for the BBC, his understanding of the challenges facing the organization, his commitment to its independence and his determination to maintain the BBC’s position as one of the country’s greatest national assets were critical factors in the Board’s decision to appoint him as the 18th Director-General,” said BBC chairman Samir Shah in a statement. Read More: Former Google Executive Set to Shake Up BBC as Director-General The expected appointment of Brittin, 57, has been met with cautious optimism so far. Former Google colleagues describe him as a popular, savvy leader, while peers and industry figures have praised his understanding of both traditional and digital media. Hiring a longtime technology executive signals a shift for the BBC, the oldest and biggest public service broadcaster in the world. Brittin is one of the first appointees to the job without longtime experience at the organization, or as a journalist. The broadcaster is defending a lawsuit filed in Florida by Trump, after the makers of an episode of its flagship Panorama program spliced together separate parts of his speech on Jan 6. 2021. Those edits gave the impression that the president called for violence ahead of an attack on the US Capitol that day. Former director-general Davie and the BBC’s Chief Executive Officer for news, Deborah Turness , resigned after details of the misleading edit emerged in a leaked memo. Shah apologized and said the edit “wrongly ga...
Apple now requires users in the UK to verify their age with the launch of iOS 26.4. In a support page on Apple's website , the company says users must confirm that they're over 18 to "use certain services or features, or take certain actions on their account." UK users can confirm their age by scanning their ID or using a credit card. If a user already has an Apple account, the company may use a l...
Apple now requires users in the UK to verify their age with the launch of iOS 26.4. In a support page on Apple's website , the company says users must confirm that they're over 18 to "use certain services or features, or take certain actions on their account." UK users can confirm their age by scanning their ID or using a credit card. If a user already has an Apple account, the company may use a linked payment method to verify that they're over 18. Otherwise, Apple will automatically enable child safety protections, including features that block adult content on the web and blur messages containing nudity . Apple launched iOS 26.4 on Tuesday … Read the full story at The Verge.
Investors should not panic amid the current oil supply disruption but should ensure they have diversified inflation hedges in their portfolios, Sebastian Page, head of global multi-asset and chief investment officer at T. Rowe Price, said. Page, who oversees more than $500B in assets for the firm, told CNBC that while the Strait of Hormuz crisis will eventually end, the uncertainty around timing m...
Investors should not panic amid the current oil supply disruption but should ensure they have diversified inflation hedges in their portfolios, Sebastian Page, head of global multi-asset and chief investment officer at T. Rowe Price, said. Page, who oversees more than $500B in assets for the firm, told CNBC that while the Strait of Hormuz crisis will eventually end, the uncertainty around timing makes proper hedging essential. In the interview with CNBC, Page acknowledged the unprecedented nature of the current supply shock. “There’s no historical playbook for this kind of supply disruption,” he said, noting that forecasts for when the Strait of Hormuz will reopen vary widely. While some betting markets suggest a 40% chance of reopening by April, other professional forecasters give only a 1% probability of reopening by April 10 and a 60% chance the crisis extends beyond May. Page emphasized that T. Rowe Price is not dramatically shifting its investment strategy despite the turmoil. “In our asset allocation committee, we actually went into this: hedging for inflation risk, neutral between stocks and bonds, and long diversification,” he explained. The firm maintains overweight positions in small caps and international non-U.S. equities, viewing small-cap valuations as “a coiled spring” ready to benefit once the crisis passes. The CIO outlined his firm’s approach to navigating the current environment. “To get through this, we have been hedging for inflation, long real-asset equities, stocks of commodity-linked companies, and energy companies,” Page said. He also noted the firm is short duration, holding more cash than long bonds, and suggested investors without commodity exposure should consider adding it to their portfolios. Page challenged the conventional wisdom that Treasury bonds are sufficient portfolio hedges. “People think treasuries hedge a portfolio. Well, they don’t if you get an inflation shock,” he warned. His key message for investors: “Diversify your hed...