Stocks fell sharply on Thursday as U.S.-China trade worries persisted with more companies suspending business with Chinese telecom giant Huawei.Marketsread more
The yield on the 10-year Treasury note fell to its lowest level since 2017 as more traders grew confident in a longer U.S.-China conflict.Bondsread more
A Ministry of Commerce spokesperson does not single out any U.S. action, but it's been a tense couple of weeks for the trade war.World Politicsread more
"For them to say that they don't work with the Chinese government is false," Secretary of State Mike Pompeo tells CNBC.Politicsread more
Facebook has stopped paying commission to staff for selling political advertisements on its platform, The Wall Street Journal reported.Technologyread more
Oil prices dropped on Thursday, extending falls from the previous session amid surging U.S. crude inventories as low refinery runs and ongoing trade tensions weighed on the...Energy Commoditiesread more
U.S. manufacturer growth hit new lows in May, the latest sign that the economic slowdown accelerated amid the ongoing trade war.Economyread more
Wall Street is under pressure, but a handful of stocks are breaking out to new highs. McDonald's, Waste Management, Hershey, Visa and Costco have notched records this month,...Trading Nationread more
No timetable has been set on returning the money to outside investors in Tepper's Appaloosa Management, source says.Hedge Fundsread more
Huawei is winning over more and more Apple fans in China as the escalated trade tensions stoked "nationalist sentiment," according to South China Morning Post.Marketsread more
Celebrity chef Mario Batali is being charged with indecent assault and battery, more than a year after admitting to sexual misconduct.Restaurantsread more
The wine boom has led to a new type of criminal—Burgundy Bandits.
Thieves in San Francisco are targeting high-end restaurants in a search for Domaine de La Romanee-Conti, a pricey Burgundy. Bottles of Romanee-Conti, also known as DRC, have soared in price as wealthy Chinese buy up vintage bottles at auction.
According to the San Francisco Chronicle, police are telling top restaurants around San Francisco to be on the lookout after the Burgundy burglars broke into the famed French Laundry restaurant in Yountville, California, and snatched at least $300,000 worth of DRC.
Thomas Keller, the celebrity-chef owner of the Laundry, took to Twitter to ask help from the wine community to help catch the thieves.
The break-in followed a similar hit on Plumed Horse, an upscale restaurant south of San Francisco. Apparently the thieves are knowledgeable oenophiles—they left alone cheaper bottles and went mainly for the DRC.
DRC has become the highest-priced wine at auction in recent years, driven mainly by demand from Asia. A case of 1978 Romanée-Conti Grand Cru sold in 2013 for $476,280, or $39,700 per bottle. The bottles taken from the French Laundry were from the less expensive 2004 and 2010 vintages, which can sell for $10,000 to $15,000 a bottle.
The thieves also took some bottles Screaming Eagle, the California cult cabernet sauvignon wine that has also surged in price.
San Francisco police spokesman Officer Gordon Shyy also advised wine dealers to be on the lookout for DRC bottles that come up for resale.