As part of the plan, Amazon has agreed to purchase 100,000 electric delivery vans from vehicle manufacturer Rivian.Technologyread more
At least in terms of monetary policy, Pence says should be taking after other regions who keep their benchmark interest rates near zero.Delivering Alpharead more
The plan will allow Medicare to negotiate lower prices on as many as 250 drugs and apply those discounts to private health plans.Health and Scienceread more
Hedge fund titan Leon Cooperman said he's concerned about a shift to the left in the political landscape, which could harm the economy and the stock market.Delivering Alpharead more
Investor Jim Chanos is betting against GrubHub, and said the food delivery company makes almost nothing per order.Delivering Alpharead more
"We sell the most mission-critical identity security to the largest global enterprises around the world," says Ping Identity CEO Andre Durand.Marketsread more
Billionaire investor Leon Cooperman on Thursday said he believes that the Federal Reserve is "screwing the savers."Delivering Alpharead more
More than half of the patients have been younger than 25 and 16% are younger than 18, CDC principal deputy director Anne Schuchat said.Health and Scienceread more
Microsoft has new services that can provide gaming revenue on top of console sales.Technologyread more
President Donald Trump on Thursday filed a lawsuit against Manhattan District Attorney Cyrus Vance Jr. and his longtime accounting firm Mazars.Politicsread more
Trian Partners co-founder and CEO Nelson Peltz explained to CNBC on Thursday the backstory to his firm's position in struggling General Electric.Delivering Alpharead more
— This is the script of CNBC's news report for China's CCTV on October 24, Thursday.
How broke is broke? That's what a Federal bankruptcy court will decide as it began hearing arguments over Detroit's debt problems - the biggest municipal bankruptcy in US history. The court's ruling is crucial in deciding whether the state can restructure under the Chapter 9 bankruptcy code.
CNBC's Scott Cohn has more:
[Package on tape by CNBC reporter Scott Cohn] Is Detroit really so broke that it needs bankruptcy protection? Or, are city and state officials simply trying to get out of their pension obligations?
Hundred of protestors showed up on day one of the city's bankruptcy trial to argue that that's exactly what's going on. An attorney for the largest employee union says pensioners are being used as scapegoats.
[Soundbyte by Sharon Levine, Attorney, AFSCME] "We are talking about retirees that are making eighteen thousand dollars a year, so we're not talking about, you know, a lot of people with a lot of money to spare."
But an emergency manager appointed by the governor to take over Detroit's finances says bankruptcy really is the only alternative.
[Kevyn Orr, Detroit Emergency Manager]
"It gives us an opportunity to have a structured environment with federal court supervision for comprehensive solutions for some very real problems."
But the issues in the bankruptcy trial are more complicated than that. In order to prevail, the city has to prove that it negotiated in good faith with its creditors. The union says it didn't, and that it truly is insolvent.
The unions say that the bankruptcy filing is unconstitutional. If the city prevails, it could reorganise its finances as soon as next spring, but the benefits will be cut almost immediately. If the unions prevail, recovery, if it ever happens, will take a whole lot longer.
Li Sixuan, from CNBC's Singapore headquarters.