Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
The yield on the benchmark 10-year Treasury note briefly fell below the 2-year rate on Wednesday, a phenomenon in the bond market known as yield curve inversion, which is...Marketsread more
The MacBook Pro recall and its subsequent ban from flights underscores the increasing brand risk from problems with lithium-ion batteries.Technologyread more
Experts say the timing of Amazon executives' contributions to Rep. David Cicilline likely reflect the company's heightened urgency over growing regulatory scrutiny.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.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
Coinbase security chief Philip Martin explains, "Possession of a key is possession of your currency. What that means is that you can't revoke a cryptocurrency key, if that key...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
The Supreme Court could strike down the constitutionality of the Consumer Financial Protection Bureau, an agency Elizabeth Warren has likened to her child and which Justice...2020 Electionsread more
Bianco Research's James Bianco suggests Wall Street is desperately looking for a signal that a 50 basis point cut is coming next month.Trading Nationread more
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
Mobility giant Uber is looking to accelerate the creation of financial products with a new fintech outpost in New York, according to people with knowledge of the plan.
The ride-hailing company is aiming to hire several dozen engineers and product managers this year, and the New York team could eventually exceed 100 workers, said the people, who declined to be identified speaking about Uber's plans.
Uber, fresh from its IPO last month, is looking to tap New York's talent pool, which is deeper when it comes to fintech and bank workers than its hometown of San Francisco. By building out its financial ecosystem, the company can increase its lead over rivals like Lyft. The efforts are likely to be focused on ways to increase engagement and loyalty to the Uber platform, according to people who attended a recruitment event earlier this year.
Payments chief Peter Hazlehurst and top engineer Johnie Lee spoke at the event, held at Uber's New York offices, the people said.
There are many possible payment and lending innovations Uber could come up with: It has 93 million active users globally, most of whom use linked credit cards or fund a wallet called Uber Cash to pay for rides and food delivery.
The two major areas being looked at by its financial products team involve building "payment experiences" that encourage riders and eaters to use Uber or remove costs from the system, and helping contractors manage the funds they earn, according to a job posting.
That's in line with products Uber has already released, like Uber Cash, which includes discounts when a user funds the wallet, its loyalty program Uber Rewards, and its co-branded credit card. On the other side of the service, Uber allows drivers to get paid as often as five times a day instead of waiting for weekly paychecks.
A more radical possibility is an Uber bank account, according to a person with knowledge of the matter.
Creating a bank account has been discussed at a high level at Uber but may be years away, or the company could decide against it, this person said. Uber relies heavily on the banking system to get paid and pay drivers, and it could potentially cut out middlemen with its own bank.
That's a similar rationale that another tech giant, Amazon, reportedly had for engaging banks including J.P. Morgan Chase to explore creating a checking account for customers. If it pursued a bank account, Uber would likely partner with an existing FDIC-insured bank rather than get its own charter. Most fintech firms rely on a small group of institutions like Cross River and Celtic Bank to offer banking services.
Uber is currently looking for larger digs in New York, shopping for a block of office space as large as 300,000 square feet, Crain's New York reported. Noah Edwardsen, a spokesman for Uber, declined to comment for this story.
— With reporting by CNBC's Steve Kovach