Saturday's attack is the biggest on Saudi oil infrastructure since Saddam Hussein's invasion of Kuwait in 1990.Energyread more
Saudi Aramco is aiming to restore by Monday about a third of its crude output that was disrupted after drone attacks on two key oil facilities, The Wall Street Journal...Marketsread more
"Blaming Iran won't end disaster. Accepting our April '15 proposal to end war & begin talks may," Zarif said on Twitter.Energyread more
Oil prices are expected to jump as much as $10 per barrel after a coordinated drone strike hit Saudi Arabia's largest oil field, forcing the kingdom to cut its oil output in...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
Young people shunning the suburbs in favor of the hustle and bustle of city life are leading the charge in the "reurbanization of America," real estate mogul Sam Zell told CNBC on Tuesday.
"You're drawing all the young people in America to these 24/7 cities. The last thing they want to do is live in the suburbs," Zell said in a "Squawk Box" interview. "In that respect, you're increasing demand for housing in the urban markets."
The demand for the suburban lifestyle had been driven mainly by safety and schools, he said. "If you wanted to see the end of suburbia, all you'd need to do is make the school systems in the cities triple-A and why would anybody live in the suburbs," Zell said.
One of the byproducts of people moving to cities is soaring demand for apartments. "We are seeing 96 percent occupancy," said Zell—who's chairman of the real estate investment trust Equity Residential, one of the largest apartment groups in the country. Of the 18,000 units the REIT manages in New York City, Zell estimated 45 percent are occupied by just one person.
"It's probably going to happen here in New York first," he said. "You're going to see 300-square-foot apartments, directly related to that one person wanting to live alone—and saying, 'I'll give up space for privacy.'"