House Democrats contend the $15 per hour minimum wage bill will lift workers who have not seen the benefits of a strong economy.Politicsread more
Microsoft beat on top and bottom lines but Azure growth slowed.Technologyread more
Trump said the USS Boxer destroyed Iran's drone in the Strait of Hormuz on Thursday in a "defensive action."Politicsread more
Stocks erased earlier losses, but the rise was kept in check as Wall Street digested a mixed batch of corporate earnings results.US Marketsread more
The Philadelphia Fed saw its primary gauge measuring the sector jump from 0.3 in June to 21.8, far better than Wall Street estimates of 5 and the highest in a year.Economyread more
"It's better to take preventative measures than to wait for disaster to unfold," Williams told the annual meeting of the Central Bank Research Association.The Fedread more
The fact that interest rates are relatively low makes the idea of a so-called insurance rate cut later this month an attractive option for the Fed.Market Insiderread more
Video of the event does not show the president disagreeing with his supporters. Instead, it shows that Trump paused as the chant began, allowing his supporters to continue...Politicsread more
President Trump said he's looking at the JEDI Contract that will be awarded to Microsoft or Amazon.Technologyread more
Business advocacy organizations sharply criticized the House of Representatives for passing a bill to raise the minimum wage to $15, saying it would be a costly job killer.Politicsread more
Wealthy clients liquidate some investments every year to cover their tax bill, so presumably this was higher than what Morgan Stanley has seen previously.Financeread more
Citadel's Ken Griffin said Monday that bitcoin may be in a bubble.
"Bitcoin right now has many of the elements of the tulip bulb mania we saw back hundreds of years ago in Holland," said the billionaire hedge fund manager in an exclusive interview with CNBC's Leslie Picker.
Griffin, however, said he does believe the blockchain technology backing the cryptocurrency is valid.
"Blockchain's a very interesting technology that will have some very profound applications for society over the years to come," he said.
Blockchain creates a quick, permanent and secure record of transactions, eliminating the need for a third party such as a bank. Banks and other large corporations are testing how blockchain can help improve everything from supply chain management to global payments.
Digital currency bitcoin climbed more than $1,000 in a week to a record high of $9,732.76 on Monday morning, according to CoinDesk. The cryptocurrency has climbed 50 percent in November alone and now has a market value of about $161 billion, slightly more than General Electric.
"I think what is happening is people confuse bitcoin with blockchain," Griffin said.
"I get very worried that people that are buying bitcoins don't really understand what they're participating in other than the headline stories that it keeps going higher and 'I want to make sure I don't miss this opportunity to make some money,'" the billionaire said. "So is it a fraud? No. But these bubbles tend to end in tears. And I worry about how this bubble might end."
Griffin founded Citadel in 1990 and is its CEO. The hedge fund firm has more than $27 billion in assets under management. The investor has a net worth of $8.6 billion, according to Forbes.
Banking executives such as JPMorgan Chase's Jamie Dimon have criticized bitcoin and called it a "fraud." On the other hand, a few Wall Street veterans are buying bitcoin and starting their own "crypto-funds." In another step toward legitimacy, CME, the world's largest futures exchange, plans to launch bitcoin futures in December. The digital currency has come a long way from being a fringe asset.