Chinese officials are expected to be in Washington this week to hold consultations with the U.S. ahead of high-level trade talks in October.World Economyread more
Saudi Arabia's defense spending is the world's third-largest — behind the U.S. and China, says Gary Grappo, former U.S. ambassador to Oman.Energyread more
President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
Michael Jordan is king when it comes to selling most products—from sneakers to T-shirts or Gatorade. But when it comes to selling his own house, Air Jordan is coming up short.
Michael Jordan's sprawling mansion outside Chicago is back on the market after several price cuts and a busted auction. The estate, in Highland Park, Ill., first came on the market in 2012 for $29 million. Now it's listed for $16 million—a $13 million price cut.
The listing follows a failed auction in December, which did not attract a buyer at the expected price of $13 million or more. Brokers say it may be even more difficult to sell the home after a failed auction—especially at $16 million.
(Read more: NYC running short on luxury condos)
"I'm not sure of the logic of raising the price," said one broker. "If it didn't sell at $13 million, how might it sell at $16 million?"
So why is the Jordan magic not working with his estate? Brokers say its main flaw is its location.
Homes near Jordan's in Highland Park typically trade for $1 million to $5 million. So $16 million is a huge leap.
What's more, Jordan's home is located near a busy set of railroad tracks. There is a $17.5 million listing in Highland Park, but that property comes with 25 pristine acres of farmland.
Brokers say the most expensive homes sold in Chicago over the past five years were both around $12 million—making the $16 million price tag look high.
The other issue is the Jordan premium. Yes, there may be some basketball-loving billionaires and millionaires in Chicago who covet owning Jordan's former house—along with the regulation-size NBA court that Michael and his buddies used to practice on.
(Read more: Ferrari-inspired smart bracelet: $189,000)
But unlike Miami, Beverly Hills, Calif., and other star-crazed markets, Chicago is not a market that pays much of a premium for celebrity homes.
"We're a conservative, Midwest community so people aren't super-impressed with celebrity ownership," said Jennifer Ames, a leading broker in Chicago with Coldwell Banker. "And most people don't need a basketball court in their house."
(Read more: Which home will sell for $100 million in 2014?)
Jordan, who moved out last spring, now lives primarily in Florida and North Carolina.
There's also the issue of taste. The compound is huge, with over 56,000 square feet of living space. It's got nine bedrooms, 19 bathrooms and a "gentleman's retreat" with original doors from the Playboy mansion.
—By CNBC's Robert Frank. Follow him on Twitter @robtfrank.