World

Earlier this year, as the crypto meltdown was draining the industry of liquidity, FTX executives were begging company founder Sam Bankman-Fried to preserve cash and stop spending hundreds of millions of dollars on celebrity endorsements. But the 30-year-old billionaire, who’d relied on branding and hype to rapidly take his crypto …

Pictured here is a science-fiction themed installation at the Maison Hermes in Shanghai, China, on Nov. 28, 2022. Future Publishing | Future Publishing | Getty Images BEIJING — Wealthier Chinese were more inclined to spend this year, while poorer people cut back on spending even more, McKinsey and Company found …

The Pentagon building in Washington, D.C. Staff | AFP | Getty Images The Pentagon said Wednesday that Amazon, Google, Microsoft and Oracle each received a cloud-computing contract that can reach as high as $9 billion each through 2028. The outcome of the Joint Warfighting Cloud Capability, or JWCC, effort is …

Elon Musk’s Twitter profile is seen on a smartphone placed on printed Twitter logos in this picture illustration taken April 28, 2022. Dado Ruvic | Reuters Three Democratic House members are calling on Twitter’s new owner and CEO Elon Musk to provide information about a possible “platform manipulation campaign” on …

Chinese leader Xi Jinping Getty Images Chinese President Xi Jinping will be in Saudi Arabia on Wednesday to attend the first China-Arab States Summit and the China-Gulf Cooperation Council Summit in Riyadh, according to the Ministry of Foreign Affairs in China. The visit, which will span three days, followed an …

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, August 29, 2022. Brendan McDermid | Reuters After a tumultuous year for financial markets, Standard Chartered outlined a number of potential surprises for 2023 that it says are being “underpriced” by the market. …

Japan’s economy is set to enter into recession as export growth slows, according to Capital Economics. “We think the Japanese economy will enter a recession sometime next year,” said Marcel Thieliant, senior Japan economist at Capital Economics, said CNBC’s “Squawk Box Asia” Tuesday. The recession will “mostly be driven by …

China’s reopening after the pandemic will be a bigger driver for oil prices than the cap on Russian oil, Singapore Minister of Foreign Affairs Vivian Balakrishnan told CNBC on Tuesday. “I would expect to see a significant opening,” Balakrishnan said. “Now that has profound implications for the global economy, more …

Apple on Tuesday announced a new karaoke service called Apple Music Sing that will be available to subscribers later this month. Apple Music already has real-time lyrics, but Sing takes it a step further. Aside from giving you the lyrics on cue, the new feature has adjustable vocals which will …

Two subsidiaries of the Trump Organization were convicted Tuesday by a jury in New York City of multiple crimes, including tax fraud, falsifying business records and conspiracy. The guilty verdicts on all 17 charged counts come three weeks after the company’s owner, Republican former President Donald Trump, declared his candidacy …