Texas power grid operator asks customers to conserve electricity after six plants go offline

The Electric Reliability Council of Texas lost roughly 2,900 megawatts of electricity. That's enough to power nearly 600,000 homes. CEO Brad Jones said the unseasonably hot weather was driving the...

Wholesale inflation climbs 11% in April, remaining near 40-year high

Wholesale prices accelerated more than expected in April. Strong consumer demand, pandemic-related supply chain snarls and the Russian war in Ukraine were factors. The Labor Department said its...

It’s Time To Call Algorithmic Stablecoins Something Else, Says FTX Crypto Exchange CEO Sam Bankman-Fried

FTX founder Sam Bankman-Fried says stablecoins should have separate and better-refined definitions. Comes after two top cryptos suffered staggering losses this week. Luna Foundation Guard’s...

Baby formula boss warns crisis will last ALL YEAR as Biden claims it will be eased in weeks

CEO of Irish-American firm Perrigo said he expects shortages and heightened demand to last for the 'balance of the year' He said factories in Ohio and Vermont were working at 115pc capacity to...

MSNBC's Stephanie Ruhle has no sympathy for crypto investors

Stephanie Ruhle says if you lose your shirt, hope you got a six-pack. “The 11th Hour” host also told crypto investors not to expect any government help or relief. "The entire basis of crypto is...

US wholesale prices surge 11% in April as food costs soar

Wholesale inflation remained painfully high at 11% in April, report said. It was a slight decrease from the 11.5% rate in March but still near record highs. Soaring food costs are helping drive...

Bitcoin's crashing. The Biden administration wants to keep it out of your 401(k)

The Biden Labor Department has warned Fidelity that its foray into volatile crypto markets could endanger future retirees. A move by Fidelity Investments to let retirement savers add Bitcoin to...

Cramer's game plan for the trading week of May 16

CNBC's Jim Cramer previewed next week's roster of earnings and gave his thoughts on the reporting companies in Friday's episode of "Mad Money."

Moderna Says It Wasn’t Aware of Investigation Into Its New CFO

Moderna Inc. released new details about the abrupt departure of Chief Financial Officer Jorge Gomez. Biotechnology company says that its vetting of Jorge Gomez was thorough. Moderna says it didn't...

ERCOT Asks Texans to Conserve Power Until 8 P.M., Through the Weekend

"Unseasonably hot weather" was driving record demand across Texas. ERCOT asks all Texans to curb power usage where they can, including raising their thermostat to 78 degrees or higher between the...

ERCOT urges Texans to conserve power over the weekend as 6 power generation facilities go offline

ERCOT urges customers to conserve energy for a five-hour peak period on Saturday and Sunday. Six power generation facilities tripping offline resulted in the loss of 2,900 megawatts. With soaring...

Frontier to leave Delaware without commercial flights

Frontier Airlines is ending its service to and from the New Castle Airport. Delaware will once again be the only state without commercial airline service. "Sufficient demand did not materialize to...

Texans asked to conserve power as 100-degree heat hits some regions

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Deeply sorry’ Alaska CEO: Flight cancellations to continue

Alaska Airlines CEO says high level of flight cancellations since April will continue. Ben Minicucci says stability should return in June. Of the 1,200 flights that we operate every day, we’ve...

Gold price heads for the worst week in 11 months, but is the market oversold?

Gold is set to close the week down around 4%, its worst weekly close since mid-June 2021. Gold was hurt by technical selling pressure after dropping below the $1,830 an ounce Thursday. The...

Hyundai plans $7B new US plant: report

Hyundai Motor Group will announce plans next week to build a $7 billion electric vehicle plant outside Savannah, Georgia, a U.S. official says. The official said the South Korean automaker is...

Robinhood shares jump 23% after crypto CEO Sam Bankman-Fried acquires stake

Emergent Fidelity Technologies took a 7.6% stake in Robinhood worth $648 million. Sam Bankman-Fried, who leads the Bahamas-based crypto company FTX, is the sole director and majority owner of...

Twitter CEO Parag Agrawal says he fired key execs due to 'challenging' economy

ERCOT urges Texans to cut power usage over weekend

Six generation plants went offline Friday amid unseasonably hot weather. ERCOT urges Texans to cut back on power usage over weekend. People should avoid "the usage of large appliances," such as...

Crypto’s Merry Band Comes Back To Robinhood

The disclosure that Sam Bankman-Fried, the 30-year-old billionaire who founded the cryptocurrency exchange FTX, has bought a 7.6% stake in Robinhood sent the online brokerage’s shares soaring, up...

Netflix tells staff to LEAVE if they're offended by its content

Netflix cracks down on woke workers! The streaming service has been cracking down on its workers. Netflix has been crack down on their workers. The service has also been cracking Down on its...

Baby Formula Industry Lobbied to Weaken Safety Standards

Abbott Nutrition facility in Sturgis, Michigan, shut down in February. The stoppage stemmed from a bacterial outbreak whose effects would be felt months later. Starting last September, five babies...

Social Security checks could get an 8.6% cost-of-living boost in 2023 as inflation spikes

Social Security checks could get an 8.6% cost-of-living boost in 2023. For the average retiree who got a monthly check of $1,657 this year, the bump would mean an additional $142.50 a month. “It...

Former top FDA official reveals how agency failed parents in baby-formula crisis

Abbott issued a safety recall in February for products made at its plant in Sturgis, Mich., over contamination concerns. The Food and Drug Administration later closed the plant after federal...

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