Silicon Valley workers are famously well-compensated: At Amazon, Apple, Facebook, Google and numerous other tech companies, even interns earn more per month than the average American. A few years ago, over 4,000 disgruntled former employees brought a class action lawsuit against the company for unfair compensation. As one SpaceX intern tells Glassdoor: “Everyone is a fanboy and Musk’s word is law.” A Tesla intern concurs: “The pay and perks aren’t as great as other surrounding companies in the B

Venezuela’s economy may have started the year on a much-worse note than the country’s legislature thought. The National Assembly, which is led by the opposition to leftist President Nicolas Maduro, said last week that inflation hit nearly 93 percent in the first four months of 2017, but that number might be somewhat conservative.

Just as prices vary worldwide, the cost of living in the U.S. can vary drastically from state to state. And from city to city, too: In San Francisco, residents report that even on a $160,000 salary you can feel like you’re making barely enough to get by. GOBankingRates ranked all 50 U.S. states and the District of Columbia according to cost of living to determine the most and least expensive places across the country. To determine the order, GOBankingRates evaluated each state and Washington D.C

The judges will decide whether to uphold a Hawaii judge’s decision in March that blocked the ban. Last week, judges on the 4th Circuit Court of Appeals heard arguments over whether to affirm a Maryland judge’s decision putting the ban on ice. But the judge wondered whether Trump is forever forbidden from adopting an executive order along the lines of his travel ban. Monday’s arguments mark the second time Trump’s efforts to restrict immigration from certain Muslim-majority nations have reached t

Former Yankee great Alex Rodriguez had two dreams as a kid. He wanted to be a professional baseball player and a CEO. Rodriguez made about $448 million during a standout career as a third baseman and shortstop. He was a three-time Most Valuable Player with a career batting average of .295 and 696 home runs. But in his career, Rodriguez was also caught up in a performance-enhancing-drug scandal that resulted in an MLB suspension for the entire 2014 season for violations of the league’s drug agree

Production growth in U.S. shale fields has driven a 10 percent recovery in the country’s overall crude output since September. Shale drilling has become increasingly profitable since oil prices largely stabilized above $50 a barrel since last winter, when OPEC and 11 other exporters agreed to take 1.8 million barrels a day of production off the market. Drilling in the Permian basin in Texas and New Mexico is once again expected to lead that gains, with output poised to rise by 71,000 barrels a d

The City of Philadelphia has taken another swing at Wells Fargo, this time alleging that the bank has been discriminating against minorities. In a federal court complaint, the city alleges that Wells Fargo pushed minorities into riskier loans with higher rates, even in cases where the borrowers had credit profiles that would have qualified them for lower-rate loans. On May 1, the high court ruled that Miami could sue Bank of America for predatory lending practices that allegedly increased segreg

The program, formally called the Small Business Health Options Program, is open to employers with 50 or fewer full-time workers. “Out of the nearly 30 million small businesses in the country, less than 8,000, just 0.1 percent of small businesses currently participate in the [federally faciliated]-SHOPs in 33 states,” CMS said. “The ACA has failed to provide affordable insurance to small businesses and to the American people,” Verma said. In contrast, HealthCare.gov signed up 9.2 million people i

In honor of graduation season, CNBC Make It is rolling out the speeches and pieces of advice that America’s leaders are most excited to share with the Class of 2017. Though Microsoft co-founder and billionaire Bill Gates never got a college degree, he knows what it takes to have a real impact on the world. And he wants to share his top tips for success with every recent college graduate. In a series of posts on Twitter, Gates offers the insight he wish he had in his 20s. Here is the tech mogul’s

A small plane has crashed near the Teterboro airport in New Jersey, the Federal Aviation Administration said in a statement. The Carlstadt Police Department told NBC New York that the plane struck multiple vehicles, killing two people. The police told NBC New York that they believe the two dead to be crew members and that no passengers were on board. The FAA told NBC New York that a Learjet 35 crashed on approach around 3:30 p.m. Local police told NBC New York that multiple buildings caught fire

Oil prices surged more than 3 percent on Monday after Saudi Arabia and Russia agreed to extend production cuts into 2018. Oil prices sold off sharply after WTI breached that level on May 2, causing prices to fall through a series of key technical levels, culminating in a “flash crash” to $43.76. WTI prices eased back throughout the morning, while International benchmark Brent pared gains after touching a three-week high of $52.63. U.S. shale output has recovered strongly as oil prices held above

President Donald Trump’s tax treatment of pass-through income could cost as much as $1.95 trillion over 10 years, according to a new analysis. The Tax Policy Center said that if Trump’s plan to tax pass-through income at 15 percent takes effect, federal tax revenue could drop by $1.36 trillion over a decade. Adding in the amount of income that would “shift” to take advantage of the pass-through rate would raise the total to $1.95 trillion. The Tax Policy Center said that three-quarters of the be

Mr Ubben will remain as chief executive but focus on finding new investments and serving on boards, according to a letter that ValueAct sent to its investors on Monday. Mr Morfit, a partner since he was 27 and currently president of the firm, will become chief investment officer in July. Mr Ubben told the Financial Times that he had handpicked Mr Morfit as his replacement a decade ago. That was when it became clear that Mr Morfit was “first among equals”, Mr Ubben says. Mr Morfit is a guitar pla

North American budget hotel chain La Quinta Holdings is preparing to explore a sale of the company, hoping for a high valuation as it seeks to spin off its real estate assets, people familiar with the matter said on Monday. La Quinta believes that proceeds from the potential sale would help justify to its shareholders the tax hit that it will incur as a result of the spin-off, the sources said. It plans to place its real estate business into a publicly listed real estate investment trust, and ke

Two major groups representing older Americans and doctors urged US senators Monday to be careful in making big changes to Obamacare, as their Republican counterparts in the House of Representatives have called for. A letter to every senator from AARP urged them to oppose the House’s American Health Care Reform Act, and to have the Senate “start from scratch” in writing new health-care legislation. Five days before sending the letter to senators, AARP posted on its website a tally of how House me

The winner of the Miss USA beauty pageant on Sunday night ignited a heated brouhaha on social media after she called affordable health care for all U.S. citizens a “privilege” instead of a “right.” McCullough, 25, referenced that fact in her instantly controversial answer after being asked during the pageant’s question phase about whether or not people have a right to affordable health care. “I’m definitely going to say it’s a privilege,” McCullough said. “As a government employee, I’m granted h

Such is the norm in our very heated, small-minded, and still mostly useless health care debate in America.” The many radiology clinics and other health care providers that line the U.S. side of the Canadian-U.S. border and cater to Canadians stand as physical proof of that. It should teach us all something about how we should look at health care. This is why countries with supposed “free” health care but no real economic opportunity like Venezuela are breaking down. Such is the norm in our very

The total of recorded loans and leases fell to $9.297 trillion from $9.305 trillion in the fourth quarter of 2016. Commercial and industrial lending, considered an economic bellwether, usually pops this time of year as companies prepare for the construction season again. In addition, the lending picture was hampered by an unusual decline in auto loans, which fell for the first time since banks started reporting on them in 2011. There may be caution because of political uncertainty both on the mo

The extension of the production deal was also announced just days before President Donald Trump visits Saudi Arabia in his first overseas trip, which also includes Israel and Rome. Besides discussing weapons deals, she said Saudi Arabia wants to know the U.S. “fully has their back and we will do what it takes to roll back Iranian influence.” Saudi Arabia also needs a high oil price to help its plan to diversify its economy away from crude, under its Vision 2030 plan. He also said it’s not surpri

Warren Buffett’s Berkshire Hathaway bought shares of Bank of New York Mellon and Southwest Airlines in the first quarter, according to an SEC filing Monday. Berkshire also bought more shares of American Airlines, while slightly reducing its holdings in Delta Air Lines in the first quarter. The conglomerate also reported a 72 million increase in holdings of Apple shares to 129.36 million at the end of the first quarter. CNBC previously reported that Berkshire bought more than 70 million shares of