Pete Rose petitioned for reinstatement to Major League Baseball on Wednesday, arguing that his lifetime ban from the game is disproportionate in light of the discipline imposed on Astros players for their electronic sign-stealing scheme. A person familiar with the document confirmed to CNBC that the league has received Rose’s petition and is reviewing it. The petition also asks the Hall of Fame to reconsider Rose’s ban. Rose holds several major league records, for, among others, hits (4,256), ga

Analysts caution there’s likely to be more negative headlines on the spread of coronavirus as well as a deeper economic hit to the Chinese economy, but they also say any further impact could also be cushioned by central banks. Global stocks rallied for a third day, as investors reacted to a lack of new shocks about the virus. The economic consequences have not been fully grasped,” said Paul Christopher, head of global market strategy at Wells Fargo Investment Institute. Goldman Sachs economists

Cruise Origin CruiseThe global autonomous vehicle industry is an $8 trillion market opportunity, according to General Motors’ autonomous vehicle unit Cruise. Source: Noah Berger | General Motors”Our goal in the simplest possible terms is to build a superior product,” Ammann said. The shuttle-like, all-electric autonomous vehicle features no manual controls such as a steering wheel or pedals. The shared ride should be quiet, since the Cruise Origin is an all-electric vehicle, too. Ammann did not

America’s franchisees are poised for another year of growth in 2020 as the U.S. economy chugs along, bolstered by a strong consumer. But facing an election year and a historically tight jobs market, franchise establishment growth is slowing to its lowest rate in the past four years. Despite the sunny outlook, the study done by FRANdata, expects “steady but slowing growth” in the year ahead. Still, the GDP contribution by the franchising industry is expected to grow by 4.6% to nearly $495 billion

Democratic presidential candidate and former Vice President Joe Biden speaks at a campaign event in Nashua, New Hampshire, February 4, 2020. Biden stands in a distant fourth place behind Sen. Elizabeth Warren, D-Mass., according to partial data released by the Iowa Democratic Party. He entered Iowa as a 2020 Democratic primary front-runner after leading national polls for most of the race. “I am not going to sugarcoat it, we took a gut punch in Iowa. The whole process took a gut punch,” Biden sa

He plans to sign an adoption bill that the LGBTQ community and many businesses say is discriminatory. A total of 142 businesses signed a letter Wednesday announcing their opposition to Tennessee’s recent slew of anti-LGBTQ laws, which has been dubbed the slate of hate by activist groups. The collective, known as the Tennessee Businesses Against Discrimination, included major companies such as Amazon, Nike, Dell, Lyft, Marriott and American Airlines, as well as more than 100 small businesses in T

The union that represents United Parcel Service pilots said Wednesday it has reached an agreement with the delivery giant to make flying to mainland China “voluntary” as the coronavirus spreads. “This joint effort addresses crewmember concerns over safety during the coronavirus health crisis,” the union said in a statement. Pilots who tell the company that they aren’t comfortable flying China routes because of coronavirus will be “temporarily replaced on those flights,” UPS said in a statement.

The person in charge of Microsoft’s Surface line of PCs is reportedly taking charge of the Windows technology people see when they use those Surfaces. Panay is essentially taking over for Joe Befiore, who will move to the Office group after taking a sabbatical. It hasn’t since Terry Myerson, formerly head of the company’s Windows and Devices Group, left in 2018. Each fall Panay captures attention for his flourishes as he reveals new devices at Microsoft hardware events. “This was built as a stag

Broken down by generation, baby boomers have the highest opinions of themselves, with 81% indicating they are great at tipping. That compares to 79% of Generation X and 79% of millennials who said the same. While 60% of that younger generation typically leave a tip, Gen Xers came in at 56% and boomers, 48%. Overall, just 26% of respondents said they typically leave extra money for those services. Most Gen Xers and millennials, at 55% and 58%, respectively, exclude tax when calculating gratuities

It’s part of a broader sustainability push by the shoe retailer as it seeks to reach younger and more eco-conscious consumers. And Nike will be dressing its athletes in uniforms and sneakers made out of recycled polyester and ground-up shoe parts. Athleta is targeting by the end of 2020 making 80% of its materials for the apparel and accessories it sells from sustainable fibers, such as recycled polyester and nylon. Sixty-two percent of Gen Z consumers prefer to buy from sustainable brands, acco

Investor Bill Ackman just made a killing from his stake in Starbucks. Ackman’s firm, Pershing Square, made a 73% return from its 19-month bet on the world’s largest coffee chain. 2019 was a strong year for Pershing, with a total shareholder return of 51.2%, while the S&P 500 gained more than 28%. In early 2018, the fund’s assets were down by about half from their $20 billion peak in 2015. Pershing Square’s net asset value dropped by 4% in 2017 while the S&P 500 rose nearly 20% that year.

Longtime consumer advocate Ralph Nader on Wednesday sounded a warning about the recent rally in Tesla’s stock and called on regulators to consider a probe into trading based on its recent meteoric run. Nader expressed concern for the investor community at large based on the stock’s recent volatility and encouraged regulators to keep a close watch for any nefarious equity trading. His comments came as Tesla plunged 17% on Wednesday, a hefty loss for those who chased the stock in recent days. “Whe

GP: Elon Musk, chief executive officer of Tesla Inc., speaks during an event at the site of the company’s manufacturing facility in Shanghai, China, on Monday, Jan. 7, 2019. There are several mutual and exchange-traded funds that are on fire this year thanks in part to the hottest stock in U.S. markets, right now: Tesla.

Steve Eisman, one of the investors who famously bet against the subprime mortgage crisis, said he has killed his money-losing bet against Tesla amid its “cult-like” rally. “I covered it a while ago,” Eisman told Bloomberg Television on Wednesday. When a stock becomes unmoored from valuation because it has certain dynamic growth aspects to it, and has cult-like aspects to it, you have to just walk away.” Eisman first revealed his short position on Tesla’s stock in July 2018. Short sellers coverin

Justin Merriman | Bloomberg | Getty ImagesThe best two sectors so far this year are the fast-growing tech sector and stodgy old utilities, continuing an odd race that has been going on for more than 18 months. The utilities sector gained 6.61% in January, far surpassing the S&P 500, which finished down 0.2% for the opening month. Technology was the next closest sector at 3.89%, and pulled ahead of the utilities for the year with a strong start to February. When looking at the price returns of th

If you’re unclear about what constitutes committing “financial infidelity” against your partner or spouse, you aren’t alone. And yet, just 27% of respondents admitted to having committed financial infidelity. However, experts say keeping money secrets from your significant other — no matter how big or small — technically counts as financial infidelity. “Financial infidelity is hiding financial decisions intentionally (or unintentionally), from an invested partner,” says Adam Holt, CEO and founde

“Talk about money with friends” is a popular piece of personal finance advice. For women, talking to friends about salaries, negotiating and investing is painted as a sort of financial feminism. Thanks to my job, it feels like I talk about money all the time. Over some snacks and a few bottles of wine, we had a free-flowing and wide-ranging conversation about money. To formulate my questions, I considered what I wanted out of the evening, and what would be a good topic to ease us all into the mo

Tesla is the ‘last thing’ retail investors should be touching: WSJ’s Charley GrantCharley Grant, columnist for WSJ, joins “The Exchange” to discuss the state of Tesla’s stock as it sells off.

Impeachment trial: Senators expected to acquit Trump in final voteThe final vote in President Donald Trump’s impeachment trial is set for Wednesday afternoon, with the Senate expected to acquit Trump on charges of abuse of power and obstruction of Congress. CNBC’s Ylan Mui reports.

Watch the key moments from Trump’s State of the Union addressIn the chamber where he was impeached, President Donald Trump gave a State of the Union address, boasting of his record on jobs and warning against Democratic policy proposals. The speech came in the thick of the president’s 2020 reelection campaign, and one day before he is expected to be acquitted by the Senate on impeachment charges brought by the Democratic-led House.