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Binance is backing out of its plans to acquire FTX, the company said Wednesday, leaving Sam Bankman-Fried’s crypto empire on the verge of collapse. The reversal comes one day after Binance CEO Changpeng Zhao announced that the world’s largest cryptocurrency firm had reached a non-binding deal to buy FTX’s non-U.S. businesses for an undisclosed amount, rescuing the

A lithium-ion battery photographed at a Volkswagen facility in Germany. Lithium-ion batteries are crucial components in electric vehicles. Jan Woitas | Picture Alliance | Getty Images LONDON — A facility described as the U.K.’s “first large-scale lithium refinery” will be located in the north of England, with those behind the project hoping its output will

FTT, the token native to crypto exchange FTX, lost most of its value after rival Binance, the world’s largest cryptocurrency firm, announced plans to acquire the company. The coin traded at around $22 on Monday and sank below $5 Tuesday afternoon in New York. The sell-off wiped out more than $2 billion in value in

Following our price target changes on eight Club holdings last month, we’re updating three more Tuesday to reflect their recent quarterly earnings reports and outlooks. Eli Lilly (LLY): Club price target increasing to $380 per share from $350 While its third-quarter wasn’t the cleanest , with management lowering its full-year revenue outlook by approximately $300

Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Monday’s key moments: Dow is higher to start the week Midterm elections in focus Apple production woes, Costco downgrade 1. Dow is higher to start the week The Dow Jones Industrial Average was solidly

U.N. Secretary-General Antonio Guterres speaking at the COP27 climate change summit in Sharm El-Sheikh, Egypt. “We are on a highway to climate hell with our foot still on the accelerator,” he told attendees. Gehad Hamdy | Picture Alliance | Getty Images The United Nations secretary general issued a stark warning Monday, telling attendees at the

In this article COIN Follow your favorite stocksCREATE FREE ACCOUNT In this photo illustration, the Coinbase logo is displayed on a smartphone screen. Rafael Henrique | SOPA Images | Lightrocket | Getty Images Coinbase reported user numbers that topped analysts’ estimates even as third-quarter revenue missed estimates and the cryptocurrency exchange had a wider-than-expected loss.

We’re buying 100 shares of Coterra Energy (CTRA) at roughly $28 each. Following Friday’s trade, the Jim Cramer’s Charitable Trust will own 1,400 shares of CTRA, increasing its weighting in the portfolio to 1.44% from 1.34%. Shares of Coterra Energy dropped more than 8.5% on Friday, following the after-the-bell release of third-quarter results by oil and

Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Friday’s key moments. Stocks wavering Club stocks soar China vaccine news Buying up more CTRA 1. Stocks wavering Stocks were mixed in midday trading Friday after rallying this morning following four consecutive days

Aerial view of the seafront Manara district near downtown Beirut. Bilwander | Getty Images When Georgio Abou Gebrael first heard about bitcoin in 2016, it sounded like a scam. But by 2019, as Lebanon plunged into a financial crisis following decades of expensive wars and bad spending decisions, a decentralized and borderless digital currency operating

Cat Clifford, CNBC climate tech and innovation reporter, at Helion Energy on October 20. Photo taken by Jessie Barton, communications for Helion Energy, with Cat Clifford’s camera. On Thursday, October 20, I took a reporting trip to Everett, Wash., to visit Helion Energy, a fusion startup that has raised raised nearly $600 million from a

The last few years have seen huge swathes of companies make net-zero commitments and other sustainability-related goals. Shansche | Istock | Getty Images Companies need regulation and greater accountability to ensure they’re meeting goals related to sustainability, according to the CEO of SDG Monitor, a firm focused on measuring performance in that area. Speaking during

Coterra Energy ‘s (CTRA) solid third-quarter earnings beat on Thursday, along with hefty free cash flow and a raised dividend, solidified the Club’s investment case in the oil-and-gas producer. Total revenue soared by nearly 500% year-on-year, to $2.52 billion, exceeding analysts’ estimates of $2.37 billion, according to Refinitiv. Adjusted earnings per share more than doubled

The Waveswing wave energy converter photographed in Scapa Flow, Orkney. EMEC Sea-based trials of a wave energy converter weighing 50 metric tons have produced “highly encouraging results,” according to the company behind its development. On Tuesday, Scotland-based AWS Ocean Energy said the average amount of power its device was able to capture “during a period

Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Wednesday’s key moments. Fed decision ahead Quick takes on Club earnings 1. Fed decision ahead Stocks edged down Wednesday ahead of the Federal Reserve’s decision on interest rate increases, set for this afternoon.

In this article GS GSBD Follow your favorite stocksCREATE FREE ACCOUNT European gas prices are expected to drop to 85 euros megawatt hour in the coming months, said Goldman Sachs Krisztian Bocsi | Bloomberg | Getty Images Goldman Sachs predicts that European natural gas prices would drop by about 30% in the coming months as

Club holding Devon Energy (DVN) beat sales and earnings forecasts when it reported third-quarter results Tuesday, highlighting the oil-and-gas producer’s capital discipline and ability to generate cash amid a volatile oil market. Total revenue climbed about 57% year-over-year, to $5.43 billion, exceeding analysts’ expectations of $4.95 billion, according to estimates from Refinitiv. Adjusted diluted earnings per

Solar panels are set up in the solar farm at the University of California, Merced, in Merced, California, August 17, 2022. Nathan Frandino | Reuters ABU DHABI, United Arab Emirates — The United States and United Arab Emirates on Tuesday announced the signing of a strategic partnership that will see $100 billion mobilized to develop

President Joe Biden threatened Monday to pursue higher taxes on oil company profits if industry giants do not work to cut gas prices. Biden has criticized oil companies that have made record-high profits as consumers struggle to keep up with high gas prices. The price of a gallon of gas was $3.76 on Monday, according

Amos Hochstein photographed in Beirut, Lebanon, on October 27, 2022. Hussam Shbaro | Anadolu Agency | Getty Images Oil is all Russia’s economy has left following its invasion of Ukraine earlier this year, according to Amos Hochstein, special presidential coordinator for President Joe Biden. “Oil is the only thing they have left in that economy