Jakub Porzycki | Nurphoto | Getty Images PARIS — Issuers of spot bitcoin exchange-traded funds on Tuesday say the U.S. Securities and Exchange Commission is unlikely to approve such a product for the cryptocurrency ether. The regulator has a late May deadline to conclude its review on an ether ETF. That comes after the SEC in March delayed its original deadline for a decision on the ether ETF application. Companies ranging from BlackRock to Fidelity and VanEck, which issued spot bitcoin ETFs this year, have been waiting for approval of an ether product. Some issuers are not confident the SEC will greenlight...

Aytac Unal/ | Anadolu | Getty Images Trump Media shares dropped more than 10% in early trading Monday, putting its market capitalization to just below $5 billion. DJT’s plunge followed a 12% decline in its share price on Friday. Trump Media, which owns the Truth Social app used by its biggest shareholder, former President Donald Trump, had a high price of nearly $80 two weeks ago after it began trading as a publicly held company. Its share price as of 2:36 p.m. ET Monday was $36.24 per share, a 10.72 decrease for the day. Trump Media’s market cap stood at...

A Southwest Airlines Boeing 737 MAX 8 arrives at Daniel K. Inouye International Airport on January 20, 2024 in Honolulu, Hawaii.  Kevin Carter | Getty Images A Southwest Airlines flight returned to Denver International Airport Sunday morning after a Boeing engine cowling fell off the plane and struck a wing flap during takeoff, the Federal Aviation Administration said. The Boeing 737-800 plane was on its way to Houston’s William P. Hobby Airport. Southwest said customers on the flight transferred to a different aircraft and were scheduled to arrive at their destination three hours late. In response to a request for...

For years now, people around the world have been captivated by Sicilian towns selling off abandoned homes starting at 1 euro, or roughly $1.08. Several hundred homes have been sold to curious and ambitious renovators, including Meredith Tabbone, 44, of Chicago. She learned in 2019 that a town called Sambuca di Sicilia was auctioning off homes starting with 1-euro bids. ”A lot of people warned me that it could be a scam [and that] I could end up losing a lot of money,” she tells CNBC Make It. Still, she took up the idea when she realized her great-grandfather was...

The mammoth integration of failed bank Credit Suisse into its former rival UBS will act as a ”case study,” UBS CEO Sergio Ermotti said Friday, one that will show that big bank mergers should be allowed. ”It’s going to be a case study to be evaluated globally, but also particularly in Europe, where eventually the necessity of creating stronger banks, and stronger and more competitive banks from a global standpoint of view, is in my point of view a necessity,” Ermotti told CNBC’s Steve Sedgwick at an event at the Ambrosetti Spring Forum in Italy. ”Of course, we can’t just...

Paramount Global’s stock slumped 8% on Thursday after CNBC’s David Faber reported the company would need to raise as much as $3 billion in new equity if it were to merge with David Ellison’s Skydance Media, according to sources familiar with the deal. This deal comes as media mogul Shari Redstone, the controlling shareholder of Paramount, is said to be in exclusive talks with Ellison on selling her stake to him, according to Bloomberg. The companies have also reportedly entered exclusive merger discussions. Faber said Ellison and his partners would likely step up to provide a good amount of that...

Bob Iger poses with Mickey Mouse attends Mickey’s 90th Spectacular at The Shrine Auditorium on October 6, 2018 in Los Angeles. Valerie Macon | AFP | Getty Images Disney shareholders on Wednesday reelected the media conglomerate’s full board, preliminary results show, handing a stinging defeat to activist Nelson Peltz and former Marvel CEO Ike Perlmutter, both of whom agitated for change at one of America’s most storied companies. The widely expected victory caps a combative months-long process and affirms the board’s decisions, from the move to bring back CEO Bob Iger to his efforts to re-invigorate the $223 billion media...

Cleveland Federal Reserve President Loretta Mester said Tuesday she still expects interest rate cuts this year, but ruled out the next policy meeting in May. Mester also indicated that the long-run path is higher than policymakers had previously thought. The central bank official noted progress made on inflation while the economy has continued to grow. Should that continue, rate cuts are likely, though she didn’t offer any guidance on timing or extent. ”I continue to think that the most likely scenario is that inflation will continue on its downward trajectory to 2 percent over time. But I need to see...

A pump jack operates in front of a drilling rig at sunset in an oil field in Midland, Texas U.S. August 22, 2018. Nick Oxford | Reuters Crude oil futures rose on the first day of second-quarter trading Monday amid reports that the Iranian consulate in Damascus, Syria, was hit by a missile strike. The West Texas Intermediate contract for May delivery gained $1.28, or 1.54%, to $84.45 a barrel. The Brent contract for June delivery added 93 cents, or 1.07%, to $87.93 a barrel. Syrian and Iranian state media said Monday that an Israeli missile strike hit the Iranian...

People learn about Baidu’s artificial intelligence chatbot service Ernie Bot during the 2nd Global Digital Trade Expo at Hangzhou International Expo Center on November 23, 2023 in Hangzhou, Zhejiang Province of China.  China News Service | China News Service | Getty Images Nvidia’s rocket-ship ride in the stock market underscores the extent to which chip quality and availability will dictate the winners in the generative AI era. But there’s another aspect to measuring early leads in the space. In China, which is angling to produce its own chips or get more from Nvidia, no dominant gen AI contender to OpenAI...