Soundgarden frontman Chris Cornell died suddenly late Wednesday, his spokesman told NBC News. As the lead singer, guitarist and composer for Seattle-based Soundgarden, Cornell was at the forefront of the 1990’s grunge rock movement. Cornell was nominated for a Golden Globe in 2012 for a song he wrote for the movie “Machine Gun Preacher.” Outside of music, the rocker became involved in philanthropy and started the Chris and Vicky Cornell Foundation to support children facing challenges, including

Media titan Roger Ailes, who resigned from his positions as chairman and CEO of Fox News Channel and Fox Business Network amid sexual harassment allegations last year, has died at age 77. Ailes resigned from Fox last summer in the wake of former Fox News Channel host Gretchen Carlson’s sexual harassment lawsuit against him. Ailes founded Fox News and helped shape the modern cable news landscape in the process. In a statement, his wife Elizabeth Ailes said: “I am profoundly sad and heartbroken to

Sen. Richard Burr, walking back an earlier statement, said Thursday that former National Security Advisor Michael Flynn’s lawyers had yet to indicate how they’d respond to a subpoena related to the Senate Intelligence Committee’s Russia investigation. “General Flynn’s attorneys have not yet indicated their intentions regarding the Senate Intelligence Committee’s subpoena,” the Republican chairman of the panel said in a statement. Earlier Thursday, Burr said a lawyer for Flynn informed the Senate

The appointment of former FBI Director Robert Mueller as special counsel to investigate the Trump campaign’s dealings with Russia was widely praised by both political parties. That FBI investigation will continue, even after President Donald Trump fired Director James Comey after reportedly asking him to stand down on his probe into the business dealings of fired National Security Advisor Michael Flynn. But some Democrats think the special counsel role doesn’t go far enough in insulating Mueller

Republican Representative Jason Chaffetz, the chairman of a committee looking into President Donald Trump’s decision to fire FBI chief James Comey, is expected to announce on Thursday that he will depart Congress on June 30, Politico reported, citing unnamed sources. The House Oversight Committee said that the Utah Republican leads is also conducting an investigation into whether former Trump National Security Adviser Michael Flynn misled security clearance investigators about his contacts with

A vehicle struck pedestrians on a sidewalk in New York City’s Times Square, what is a heavily trafficked area, on Thursday afternoon. Law enforcement officials tell NBC News the FBI is working with the New York Police Department to investigate the situation. The Fire Department of New York has confirmed one person died in the crash, and it has reported 19 injuries on the scene. The suspect’s speeding car reportedly jumped a curb, and photos show the smoking vehicle on the sidewalk. —NBC News, Re

In a 2010 speech given when she was president of the San Francisco Federal Reserve, Yellen acknowledged this point. The challenge for the Federal Reserve, then, is that it has a domestic mandate but a global reach. The second reason for the United States’ influence over the global financial system is its position as the main banker for the world. His appointments, therefore, need to be individuals who will understand the global reach of the Federal Reserve and act accordingly. Ultimately, then,

Investors should buy Shake Shack shares because the restaurant chain will report profits ahead of Wall Street expectations in the coming years, according to Wedbush Securities, which raised its rating on the company to outperform from neutral. “We believe upside exists to current consensus EBITDA [earnings before interest, taxes, depreciation and amortization] estimates, driven by potential SSS [same-store sales] growth upside, new unit outperformance, and margin leverage ahead of expectations,”

Among the things being investigated are possible links between Trump campaign associates and the Kremlin. It marks at least the third time in just over a week that Trump has either contradicted or muddled a statement from his White House. After Trump ousted Comey, the White House first said the president did so because of a Justice Department memo criticizing the FBI chief’s performance. White House officials also vehemently denied reports that Trump shared highly classified information in a mee

An unprecedented effort to create funds that would have delivered four times the return of the S&P 500 has run into a regulatory roadblock. The Securities and Exchange Commission earlier this month approved an application from ForceShares that would have created the two exchange-traded offerings — the ForceShares Daily 4X US Market Futures Long Fund and ForceShares Daily 4X US Market Futures Short Fund. The funds would use derivatives to represent four times the gains or losses of the S&P 500 fu

He’s in favor of Glass-Steagall, just not that Glass-Steagall. Treasury Secretary Steven Mnuchin was lambasted Thursday by Sen. Elizabeth Warren for saying that he supported a “21st-century Glass-Steagall” Act, but opposed breaking up banks’ commercial and investment banking functions. “Tell me what 21st-century Glass-Steagall means if it doesn’t mean breaking apart banks?” She noted, repeatedly, that the original Glass-Steagall Act passed into law in 1933 and repealed in 1999 broke commercial b

The New York Federal Reserve reports that household debt across the nation has hit a dubious milestone in the first quarter: It surpassed the peak debt level of 2008 at $12.7 trillion. But the data show the current structure of debt is substantially different from 2008. Mortgage debt has fallen from 73 percent to 68 percent of total debt since the peak. That has come along with a rise in auto- and student-loan debt as a percent of the average American’s liabilities. While the percent of debt 90

McDonald’s said Wednesday that it has expanded delivery via UberEats to more than 1,000 restaurants nationwide. Previously, McDonald’s had made delivery available to about 200 restaurants in Orlando, Tampa and Miami. McDonald’s already has well-established delivery services in Asia and the Middle East, where for some restaurants delivery is 40 percent of sales. Last year, the Golden Arches garnered nearly $1 billion in delivery sales globally. Here is the break down of where McDonald’s currently

“We’re not doing any high-fives in the room here today,” Target CEO Brian Cornell told analysts and investors on the company’s earnings conference call. Target reported its same-store sales fell 1.3 percent, a narrower decline than the 3.7 percent forecast by analysts in a FactSet survey. Excluding items in the latest period, Target earned $1.21 a share, outpacing Thomson Reuters analysts’ estimate of 91 cents per share. With the first quarter behind it, Cornell reaffirmed its expectation for a

“Roseanne,” one of TV’s rare working-class comedies, will return to ABC two decades after it wrapped its hit run and with star Roseanne Barr and the rest of the cast intact, the network said Tuesday in announcing its 2017-18 season plans. ABC is bringing eight new shows to its schedule next fall and moving several returning series around, including hit comedy “black-ish.” Another drama set for a fall debut is “Ten Days in the Valley,” starring Kyra Sedgwick as an overworked TV producer of a poli

Each list shows the strengths of its respective economy. In the U.S., the top five companies are, in order, Alphabet, Amazon, Facebook, Salesforce, and Uber, with Apple at No. 14), Workday (15), Twitter (17), Tableau Software (30) and DropBox (42) all appearing. 49 Square, whose stock has gone up 116 percent in the past year, Tesla, with shares up 57 percent, and Tableau Software, up 26 percent. If you had invested $10,000 a year ago in an equal-weighted portfolio of the 40 public companies on t

Economists have long argued that marriage rates are lower in poorer and less well-educated areas because men in those communities aren’t good financial bets. Without steady incomes, they can’t reliably contribute to a household, so while women might have children with them, they won’t commit to men for life. What happens when money pours into a place, enriching the men, specifically, and giving them good jobs? The pattern of results is consistent with positive income effects on births, but no as

As usual, Google’s parent company Alphabet comes out on top. The company claims first place on LinkedIn’s 2017 Top Companies list, which highlights the 50 employers that job seekers in the U.S. most want to work for. LinkedIn did not consider itself, or its parent company, Microsoft, for this list. But financial service providers, real estate firms and entertainment companies are also luring top talent with sleek offices, innovative paid leave offerings and flexible work schedules. Read on for t

Michael T. Flynn, who was fired from his position as national security adviser, told U.S. President Donald Trump’s transition team weeks before the inauguration that he was under federal investigation, the New York Times reported late Wednesday, citing two people familiar with the case. Despite Flynn telling the team about the investigation into whether he secretly worked as a paid lobbyist for Turkey during the campaign on January 4, about a month after he was informed, Trump still gave Flynn t

Bowing to public and Congressional pressure, Deputy U.S. Attorney General Rod Rosenstein appointed former FBI Director Bob Mueller on Wednesday to be a special counsel overseeing the investigation into Russian interference in the 2016 campaign, Justice Department officials said. Mueller will take command of the prosecutors and FBI agents who are working on the far reaching Russia investigation, which spans multiple FBI field offices on both coasts. But the question of whether Trump associates co