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Vladimir Vladimiroffi Plus | Getty ImagesMillions of student loan borrowers recently defaulted on their loans, according to new data from the Federal Reserve Bank of New York.The New York Fed reported in a blog post Tuesday that about 1 million borrowers defaulted on their debts in the fourth quarter of 2025, and an additional 2.6 million borrowers defaulted in the first quarter of 2026. New defaults were concentrated among older borrowers, those in southern states, and those who were not in default on their federal student loans before the pandemic, the researchers wrote.Read more CNBC’s personal finance coverageThe researchers also…

On February 3, 2025, SoftBank CEO Masayoshi Son and OpenAI CEO Sam Altman attended an event to promote AI for business. Kim Kyung Hoon | ReutersSoftbank posted a $46 billion annual gain on its Vision Fund, primarily due to a significant increase in the value of its OpenAI investment. Major Japanese companies have invested more than $30 billion in OpenAI, and their investment returns in the company totaled $45 billion in the year ended March. In the three months to the end of March, the Vision Fund made about $20 billion in profits, almost all of which came from OpenAI…

Check out the companies that made the biggest moves at midday: Vestis — Shares rose more than 30% after the uniform and apparel maker’s second-quarter results beat expectations. Vestis also raised its EBITDA outlook for fiscal 2026. Zebra Technologies — Automation stock soars 17% after first-quarter results beat expectations. Zebra earned $4.75 per share, excluding certain items, on revenue of $1.5 billion. Analysts polled by FactSet had expected sales of $1.48 billion and earnings of $4.25 per share. The outlook for the second quarter also exceeded expectations. Lariant — The maker of precision equipment and sensors saw its stock rise…

Plans to build Australia’s first Trump Tower have been scrapped just three months after it was announced, with a local developer saying the Trump brand had become “toxic”. “Let’s just say that the Trump brand has become increasingly unpopular in Australia because of the Iran war and everything else,” Altus Property Group CEO David Young told CNN in a statement. According to Altus’ February press release announcing the deal, the 91-storey Trump International Hotel & Tower Gold Coast was touted as Australia’s tallest tower, with a 285-room luxury hotel, luxury retail plaza, restaurants and Trump-style residential apartments. The project sparked…

A bizarre stoppage-time own goal from goalkeeper Bent cost Al Nasr a 1-0 home victory over rivals Al Hilal, denying them victory for the title.Published May 13, 2026May 13, 2026Cristiano Ronaldo and his Al Nasr teammates were left frustrated when goalkeeper Bent scored an own goal in stoppage time, denying the club their first Saudi Professional League title in seven years.Riyadh-based club Al Nasr were leading 1-0 and seconds away from defeating local rivals Al Hilal, who finished second in the league, when Bent made a failed overhead save in Tuesday’s much-anticipated match, sending the ball into their own net.Victory…

Kevin Warsh passed a key Senate vote on Tuesday to appoint him to the Federal Reserve’s board of governors, taking another step toward becoming chairman of the Federal Reserve.The Senate approved Warsh’s nomination with a near party-line vote of 51-45. Pennsylvania Democratic Sen. John Fetterman was the only one to cross the line and vote for President Donald Trump’s nomination.The next vote for the board member, who served on the board from 2006 to 2011, is a chairman election scheduled for Wednesday.The governor’s term is 14 years, while the chairman’s term is four years.Warsh’s vote also means the end of…

Reggio Emilia, Italy — Feelings of pride are growing in the small, historic city of Reggio Emilia in northern Italy this week as a major royal visits and the world’s media follows her there. Catherine is not an Italian princess. That pride comes from the way the Princess of Wales is expected to shine a formidable spotlight on Wednesday on one of the city’s crown jewels: an innovative and much-imitated approach to early childhood education. The Reggio Emilia approach is more of a philosophy than a method. It was first developed after World War II and has become almost as…

A United Airlines plane approaches the runway at Denver International Airport on March 23, 2026.Al Drago | Getty Imagesunited airlines Flight attendants approved a new five-year labor contract with an average 31% increase in base pay and other improvements by August, making them the last major airlines whose crew members unionized after the pandemic to reach an agreement.The collective bargaining agreement will give United Airlines’ approximately 30,000 flight attendants their first raise in six years. The airline and the cabin crew union reached a tentative agreement in March. Crews rejected the contract last year.The union said the contract received 82%…

TOPSHOT – Members of the Samsung Electronics Labor Union hold up placards that read, “Be transparent!” On April 23, 2026, a large rally is held outside the company’s foundry and semiconductor factory in Pyeongtaek to demand the removal of caps on performance bonuses. (Photo credit: Jung Yeon-je/AFP via Getty Images)Jung Young Jae | AFP | Getty ImagesSouth Korea’s largest Samsung Electronics suffered a market capitalization loss of 99.7 trillion won ($66.18 billion) on Wednesday after failing to reach a wage agreement with its labor union.This meant that the company’s stock price fell by 6.09% during the day from the previous…

The large bald man ran through the back halls and staircases of the Philippine Senate, his aides chasing him and falling at least once as he tried to evade local agents. At the center of this comic cat-and-mouse game was Sen. Ronald dela Rosa, a longtime ally of former Philippine President Rodrigo Duterte, who became a wanted man on the run from a powerful enforcer in a bloody drug crackdown. The incident was caught on surveillance camera and quickly became a national topic of conversation. Prosecutors at the International Criminal Court (ICC) have accused Mr. de la Rosa of conspiring…