Bankrupt rocket company Virgin Orbit received a $17 million “stalking horse” bid for its modified 747 carrier jet and other aircraft assets, as it continues to examine options during Chapter 11 court proceedings. Virgin Orbit agreed to the terms of the potential aircraft deal from aerospace venture Stratolaunch, which is …

Senior VP Head Scientist of Amazon Alexa, Rohit Prasad in Lisbon. Rita Franca | Nurphoto | Getty Images Amazon‘s Alexa head said his company is right in the middle of the boom in generative artificial intelligence, the technology that’s spreading rapidly across Silicon Valley and has spurred an arms race …

Locked up merchandise, to prevent theft in Target store, Queens, New York.  Lindsey Nicholson | Universal Images Group | Getty Images Target said Wednesday that organized retail crime will fuel $500 million more in stolen and lost merchandise this year compared with a year ago. Target’s shrink totaled about $763 …

Former Vice President Mike Pence on Wednesday highlighted sharp differences with his former boss, rejecting ex-President Donald Trump’s stances on the debt ceiling and Ukraine while stoking more speculation about his 2024 presidential ambitions. “When it comes to the debt ceiling, failure is not an option,” Pence said on CNBC’s …

How to know if you face your own debt default After contending with high inflation for over a year, households are nearing a “breaking point,” according to a study by WalletHub. Using the Great Recession as a guide, the projected breaking point is the level of household credit card debt that …

Microsoft CEO Satya Nadella said during a taped interview with CNBC’s Andrew Ross Sorkin that what scares him most about artificial intelligence is “the entire society” has to come together to “maximize the opportunity and mitigate the dangers” of the technology, “We definitely want the benefits of this technology and we …

WASHINGTON — House Speaker Kevin McCarthy told CNBC in an interview Wednesday he does not think the U.S. will default on its debt as tense negotiations over the debt ceiling continue. “I think at the end of the day we do not have a debt default,” McCarthy told CNBC’s “Squawk Box.” …

Carrier aircraft VMS Eve is seen in the background shortly after releasing VSS Unity, which is firing its engine and acclerating during the company’s fourth spaceflight test, Unity 22, carrying founder Richard Branson on July 11, 2021. Virgin Galactic Virgin Galactic is targeting as early as May 25 for the …

Pgiam | Istock | Getty Images The IRS flagged more than 1 million tax returns for potential identity theft during the 2023 tax season, according to the U.S. Department of the Treasury, signaling that such fraud continues to be a pervasive problem for taxpayers. Tax-related identity theft occurs when criminals …

Paolo Ardoino, Tether’s chief technology officer, said the company estimates that the excess reserve will increase by $700 million in the current quarter, which is not yet over. Justin Tallis | Afp | Getty Images Cryptocurrency giant Tether on Wednesday said that it’s going to purchase hundreds of millions of …