These box office numbers do not include the cost of production or marketing costs. They also don't count the billions in merchandising that Disney has made over the last...Entertainmentread more
Stocks in Asia traded lower on Monday morning, as investors await the start of a Nasdaq-style technology board on the Shanghai Stock Exchange.Asia Marketsread more
When Cathy Hsu and Tony Hsieh wanted to build an English language app for Chinese children, they decided to follow Facebook and Google's lead.Start-upsread more
Instagram began tests that hide "like" counts on posts. That means influencers who market products on Instagram will have to rely on different metrics to show success.Technologyread more
Peter Neupert worked for Microsoft and Amazon-backed Drugstore.com, where he got to know Jeff Bezos. He now advises start-ups.Technologyread more
The firing of the tear gas was the latest confrontation between police and protesters who have taken to the streets for over a month to fight a proposed extradition bill and...China Politicsread more
Last week shows that oil prices are not the indicator for Middle East tensions they once were, and worries about global demand and growing U.S. production has changed that...Market Insiderread more
Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female corporate-development...Technologyread more
Amazon's new policy for account suspensions doesn't go far enough to protect sellers from potentially unfair and wrongful suspensions, merchants say.Technologyread more
Gluskin Sheff's David Rosenberg is painting a painful picture for stocks as earnings season goes into full gear.Futures Nowread more
There is no end in sight to the Boeing 737 Max grounding after two fatal crashes, prompting airlines to rethink their growth plans.Airlinesread more
The world will never again see the price of oil at $100 per barrel, one of Saudi Arabia's biggest investors told CNBC on Friday.
Prince Alwaleed Bin Talal, chairman of Kingdom Holdings, spoke with "Squawk on the Street" following the death of his uncle, King Abdullah. While he admitted that his country—which derives 90 percent of its budget from oil—is feeling the pain of the commodity's collapse, he predicted that Saudi Arabia would not be the first to blink.
He said that a "confluence of events" have led to the fall in oil's price, not—as some have suggested—a Saudi plot to harm America's revitalized energy industry.
"I can assure you that Saudi Arabia is not using the oil price right now to impact the fracking industry in the United States," he said, adding that "there's an oversupply and demand is not so high."
The lack of balance between oil's supply and demand means the road back to $60-$70 range will be "not that easy, not that quick," the prince said, adding that markets may not even have found the bottom yet.
Given this weakness in oil's price, Alwaleed admitted that the global strength of OPEC has weakened.
"I would not say that OPEC is dead, but I think the impact of OPEC as it was years ago is not the same for sure today," he said.
He added that "there's a game of who should cut production first" between members of the oil cartel and non-OPEC nations.
"Eventually there's no doubt that some countries have to blink and reduce their production. ... I don't see Saudi Arabia or the OPEC countries blinking," he said.
Alwaleed said he thought oil's price could lead to political turmoil in countries like Venezuela that depend so much on the commodity and "don't have a lot of extra wealth on the side for that rainy day"—unlike Saudi Arabia and its neighbors.
Weighing in on the global currency market, Alwaleed simply said "I'm a dollar man." As for equities, he said Kingdom Holdings will maintain its diversified strategy, but it is interested in some new companies like China's JD.com.
Following Abdullah's death, Crown Prince Salman bin Abdulaziz became king of the world's top oil exporter.
Salman is a reformer at heart, Alwaleed said, and the country will continue down the same paths of financial, social and political reform as during Abdullah's reign.
Reflecting on the political turmoil in neighboring Yemen, Alwaleed said the resignations of that country's prime minister and president means "clearly we have seen the hands of Iran infiltrating that country through its blatant and open support of the Houthis there. "
He called it an "unfortunate situation" as Yemen's political vacuum could eventually be a "seat of trouble."