The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Scientists say the smoke plumes, filled with megatons of tiny, harmful particles, could travel to other areas of the world and cause serious respiratory problems for people.Weather & Natural Disastersread more
Some Weight Watchers loyalists applaud Kurbo by WW. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time.Health and Scienceread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
Oil hit a near six-year low on Tuesday, with U.S. crude paring some losses on short covering and reaching parity with for the first time in three months, as traders continued to wonder when the six-month long price rout might end.
Oil prices are have already traded lower for seven consecutive weeks, and so far this week Brent is down 8 percent and U.S. crude down about 5 percent.
U.S. crude settled down 18 cents, at $45.89 a barrel, its lowest level since April 2009. Brent crude was down $1 at $46 a barrel after a session low at $45.19.
The arbitrage between U.S. crude and Brent crude oil futures traded at parity for the first time since October, with both markets at $46 a barrel at one point.
Traders said it was not immediately clear why the benchmarks converged, but analysts said it was a combination of oversupplied global markets coupled with short covering on the U.S. crude contract.
"The stock market rallied and that helped U.S. crude and the $44 a barrel level had been a target number for traders and U.S. crude held above that early on Tuesday," said Phil Flynn, analyst at Price Futures Group in Chicago.
Prices were little changed after the U.S. Energy Information Administration raised its 2015 world oil demand growth forecast by 120,000 barrels per day from its previous estimate. In its monthly forecast, EIA projected 2016 world oil demand to hit 93.42 million bpd, up 1.03 million bpd from 2015.
Oil's plunge earlier in the session came after big producer United Arab Emirates defended OPEC's decision not to cut output.
The United Arab Emirates' oil minister, Suhail bin Mohammed al-Mazroui, said on Tuesday that OPEC's decision in November not to cut output had been right. He also said that U.S. shale oil was an important part of global oil supplies.
"Shale oil producers are very important for the market supply and we all need them to stay,'' he said, adding that the market would stabilize at a level at which conventional producers can sell profitably, "whether $60 or $70 or $80.''
Adding to the glut are slowing Asian economies, which now face deflationary pressures.
"Even without the full effect of the recent collapse in energy prices, GDP deflator in the region (Asia) ... is estimated to have slipped. We believe that weaker aggregate demand is at the heart of this generalized deflationary pressure,'' U.S. bank Morgan Stanley said on Tuesday.
The downward pressure on prices is so big that even record Chinese crude imports for December could not lift the market for long. China imported above 7 million barrels a day for the first time as the world's No. 2 oil consumer took advantage of low prices to build up reserves.
Meanwhile, banks have slashed their oil price outlook, with analysts at Goldman Sachs cutting their average forecast for Brent in 2015 to $50.40 a barrel from $83.75.