The Billionaire Tax Act would impose a one-time tax of 5% on the total wealth of California tax residents whose net worth is $1 billion or more.

A measure to impose a one-time 5% tax on California billionaires could be on the ballot in November. Proponents say that the roughly $100 billion raised by the bill, which would tax about 200 people, would help offset federal cuts to health care. In an effort by lawmakers to prevent billionaires from fleeing California before… Continue reading Why some billionaires are racing to leave California — and why it may be too late

The trade shortfall was just $29.4 billion for October, down 39% from the prior month.

Bessent on Thursday pressed the administration’s desire for lower interest rates, saying they are the key to future economic growth.

Planned job cuts totaled 35,553 for the month, a 50% slide from November and an 8% decrease from the same period a year ago.

These are the stocks posting the largest moves in the premarket.

JPMorgan Chase has reached a deal to take over the Apple credit card from Goldman Sachs, according to a source.

JPMorgan said it is instead using artificial intelligence to aggregate and analyze proxy data.

CNBC’s Robert Frank joins ‘Squawk Box’ to discuss the details of California’s proposed billionaire tax.

The board of GameStop granted Cohen performance-based stock options tied to a $100 billion market-capitalization target.