Mall owners are increasingly building out food halls with local chef-driven eateries, sushi bars and premium coffee shops.Retailread more
Most U.S. hedge funds aren't expecting another big stock market sell-off as more firms curb bets on volatility, according to Nomura.Marketsread more
While Trump's lawyers had argued that the committee's subpoena did not have a legitimate legislative purpose — and was therefore invalid — Mehta took a broader view.Politicsread more
See which stocks are posting big moves after the bell on Monday, May 20.Market Insiderread more
Silicon Valley argues that Wall Street focuses too much on near-term profits — but investors have embraced money-losing biotech IPOs.Marketsread more
Iran has quadrupled its output of nuclear material amid rising tension with the U.S. and dangerous escalations in the Middle East.Energyread more
The issue of corporate debt has surfaced as companies continue to use the low rates the Fed has provided to lever up their balance sheets.The Fedread more
The announcement comes amid a wave of store closures across the country this year.Retailread more
"Unlike Bernie Sanders or Elizabeth Warren or Kamala Harris, Biden's against 'Medicare for All,'" the "Mad Money" host says.Mad Money with Jim Cramerread more
"As long as President [Donald] Trump believes that the Chinese are the ones who pay the price, he's going to keep taking a hard-line approach to these negotiations," Cramer...Mad Money with Jim Cramerread more
Sens. Mitch McConnell and Tim Kaine introduced a bill Monday that would raise the minimum age to buy tobacco to 21 in hopes of curbing what regulators are calling an...Health and Scienceread more
Former Federal Reserve Chairman Alan Greenspan told CNBC on Wednesday that bitcoin reminds him of currency issued during America's Colonial past that ultimately proved worthless.
Greenspan compared the high-flying cryptocurrency to 1775 Continental currency that was worthless by 1782. In the in-between years, however, the money allowed patriots like George Washington to buy armaments and other supplies.
Continental money was so-called fiat currency. Declared legal tender by the Continental Congress, it derived its value from the amount of paper notes available and the demand for them rather than by the backing of a commodity such as gold or silver.
"A significant share of it was creating real goods and services" despite the fact that it was ultimately worthless, said Greenspan, who mentioned he was co-writing a book about American history.
Bitcoin is trading near record highs Wednesday, above $12,000 a share, having risen an eye-popping 1,200 percent this year. Whether this value is just ephemeral will depend on how many bitcoins there are to match demand, Greenspan said. Continental currency kept being issued to pay for Revolutionary War efforts and ultimately collapsed in value.
"Humans buy all sorts of things that aren't worth anything," Greenspan said. "People gamble in casinos when the odds are against them. It has never stopped anybody."