Tuesday’s U.S.-North Korea summit was hailed as a diplomatic breakthrough, but it unleashed critical security concerns around Asia. By questioning America’s military presence in the region, President Donald Trump on Tuesday appeared to give his Asian allies the cold shoulder while delivering a huge win to Pyongyang and Beijing. At […]
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Elon Musk’s Boring Company gets go ahead to build a high-speed train to Chicago’s airport
Elon Musk’s Boring Company has won the bid to build a high-speed express train to Chicago’s O’Hare International Airport, the company told CNBC. The company beat a consortium that included engineering firm Mott MacDonald, which worked on the development of a terminal at London’s Heathrow airport, and an infrastructure fund […]
US groups sue Trump administration over water protections
Environmental groups sued the Trump administration on Wednesday challenging moves they say weaken protections for rivers, wetlands and other waterways. The actions follow an executive order by President Donald Trump in February 2017 that directed the Environmental Protection Agency to work toward rescinding a clean water rule issued under President […]
Australia’s employment rose in May, jobless rate at 5.4 percent
Australia’s employment rose by 12,000 in May, boosted by the number of people hired for part-time jobs which jumped by 32,700, according to the Australian Bureau of Statistics on Thursday. Full time employment, however, fell by 20,600. The jobless rate was at 5.4 percent. Forecasts had centered on a rise […]
China is booming, but next comes Trump’s tariff verdict
Beijing is surely watching closely as a deadline for proposed American tariffs on China draws near, but any concern has been blunted by just how well the Chinese economy has been doing in recent months. The U.S. is due by Friday to release the final list of products subject to […]
Asian shares decline after Fed raises rates and signals more hikes ahead
Asian markets declined early on Thursday after the Federal Reserve raised interest rates, a widely expected move, and indicated two more rate hikes were likely in 2018. The Nikkei 225 fell 0.73 percent, reversing the slight gains notched by the benchmark in the last session. Mining stocks fell more than […]
Leaders of Russia and Saudi Arabia expected to talk ahead of contentious OPEC meeting
Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman are planning to meet Thursday ahead of next week’s important OPEC meeting, where the fate of their production deal could be decided and so could the direction of oil prices. As their national teams play each other in the […]
People missed ‘exactly what we told them’ about RH before furniture maker’s 30% jump, CEO says
When RH CEO Gary Friedman started buying his company’s stock at its $27-a-share low, he recognized that investors were missing “exactly what we told them,” he said Wednesday. Friedman, who joined CNBC’s Jim Cramer for an exclusive interview on “Mad Money,” said he bought into the Restoration Hardware parent’s shares […]
Don McGahn reportedly recused himself from the Russia probe last summer
White House Counsel Don McGahn recused his office from handling Special Counsel Robert Mueller’s Russia probe last summer, former White House lawyer Ty Cobb said Wednesday, opening the door for Cobb’s hiring, according to a report in Politico. An attorney for McGahn did not immediately respond to a message left […]
Billionaire investor Mario Gabelli: Don’t rule out ‘small possibility’ of another, higher bidder for Fox
Billionaire media investor Mario Gabelli told CNBC on Wednesday he was “applauding” Comcast’s latest bid for Twenty-First Century Fox on behalf of his clients. And he believes there’s a chance it may not end there. “I wouldn’t rule out a small possibility that one of the global behemoths … may […]