The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Scientists say the smoke plumes, filled with megatons of tiny, harmful particles, could travel to other areas of the world and cause serious respiratory problems for people.Weather & Natural Disastersread more
Some Weight Watchers loyalists applaud Kurbo by WW. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time.Health and Scienceread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
Elon Musk's space company, SpaceX, is now worth more than his electric car company, Tesla — at least on paper.
SpaceX is valued at $33.3 billion, investors familiar with the company's latest round told CNBC on Friday. Tesla's market cap was $32.8 billion at the end of trading Friday.
SpaceX successfully launched 60 Starlink satellites into orbit recently, and has raised more than $1.02 billion since the beginning of 2019. Tesla shares have declined by more than 44% during the same period.
The electric vehicle maker has struggled to rein in its spending, while staking its future on success in China. Its effort to set up a factory in Shanghai began this year as trade relations between the U.S. and China rapidly deteriorated.
Until Tesla can manufacture its Model 3 electric sedans there, it faces steep import taxes in China. It also faces higher tariffs on parts and raw materials it buys from Chinese suppliers to make its batteries and cars in the United States.
Morgan Stanley analyst Adam Jonas said (on a May 22 call) that investors shouldn't rule out the possibility that Musk could use his SpaceX stake to "collateralize" Tesla. "There's a precedent for Elon Musk to think across his portfolio of companies," he said, referencing the 2016 acquisition of SolarCity by Tesla.
The deal cost Tesla around $5 billion — it issued $2 billion in stock, and took on about $3 billion in SolarCity debt. It was also seen as a bailout for Musk, and his family — his cousin Lyndon Rive was the CEO of the residential solar installer, while Elon Musk and other friends and family members had personally invested in SolarCity as well.