After Elon Musk touts Tesla solar on Twitter, Walmart sues the electric vehicle and clean energy company over store rooftop panels that ignited.Technologyread more
The bond market has entered a financial twilight zone, and at this point, there doesn't seem to be a smooth way out.Market Insiderread more
Trump said he has "been thinking about payroll taxes for a long time" — and he cautioned that "whether or not we do something now, it's not being done because of recession."Politicsread more
Secretary of State Mike Pompeo privately told business executives and free traders that the trade war could end by the 2020 election and that hurdles to an immediate agreement...2020 Electionsread more
Market bull Jeff Saut told CNBC on Tuesday that the lows are in and the market is headed "much higher."Marketsread more
Home Depot CFO Carol Tome says "consumer confidence is near record high levels" but "consumer demand could be impacted" by lingering U.S.-China trade tensions.Mad Money with Jim Cramerread more
The company's stock seesawed after the markets closed Tuesday, initially swinging up by 4% before falling by about 2%.Retailread more
President Donald Trump believes he has quite the bargaining chip with the European Union.Marketsread more
The United States does not have a defense against hypersonic weapons, which can travel at least five times the speed of sound, or a little more than a mile per second....Defenseread more
See which stocks are posting big moves after the bell.Market Insiderread more
The Federal Reserve has lost control of interest rates as evidenced by the federal funds rate trading higher than any part of the U.S. Treasury yield curve, Jeffrey Gundlach,...Marketsread more
Notwithstanding doubts about whether Chrysler Group would go forward with a promised public float, the company is late in the stages of preparing its offering documents, said a person familiar with the offer, and JPMorgan Chase is expected to underwrite the IPO.
Chrysler chief executive Sergio Marchionne said in a Financial Times interview earlier this week that IPO plans were well under way and that the prospectus could be published in the U.S. "within the third week of this month." But Marchionne, who has been trying unsuccessfully to buy out a large minority shareholder in Chrysler, has made it clear that he would strongly prefer to avoid the public route.
(Read more: Chrysler IPO to bring shareholder battle to a head)
Knowing that, a number of investment bankers – many of whom participated in a so-called "beauty contest" Chrysler held to select IPO underwriters earlier this year – regarded his public remarks this week as a bluff. Some hadn't heard any fresh details on the company's plans since their pitch meetings, and presumed no deal was yet under way. As recently as Wednesday, the identity of the carmaker's lead underwriter had been kept under wraps and some competing bankers wondered aloud whether the new-issue prospectus had even been written.
A Chrysler spokeswoman declined comment on where things stood with the IPO.
Once Chrysler publishes its prospectus, known as an S-1 filing, valuation will be a central question. The mere fact that an IPO is moving forward is an indication that Marchionne – who runs the Italian carmaker Fiat SpA, which he also helms, and Chrysler as a single company – has been unable to agree on a price at which Fiat could purchase the 41.5 percent of Chrysler it doesn't yet own.
(Read more: Chrysler earnings jump 16%, give boost to Fiat)
That stake is controlled by the United Auto Workers union's voluntary employees' benefits association, or VEBA. Its representatives have argued that Chrysler is worth more than $10 billion. Fiat, however, disputes that, saying in a court document that its sister company was worth only about $4 billion.
JPMorgan isn't expected to be the only bank on the Chrysler IPO, said the person familiar with the matter, but it will lead the offering, should it come together. And the new issue would be sizable. Based on even the most conservative valuation, which is Fiat's, VEBA's share of Chrysler would be worth nearly $2 billion.