Drone strikes attacked an oil processing facility at Abqaiq and the nearby Khurais oil field on Saturday.Marketsread more
"There is reason to believe that we know the culprit," Trump said in a post on Twitter.Politicsread more
Brent crude surged by as much as 19.5% to reach $71.95 per barrel on Monday, the biggest intra-day jump since the Gulf War in 1991.Oilread more
The strike, depending on its length, could easily cost GM hundreds of millions of dollars. The last time the union declared a strike at GM was in 2007.Autosread more
Saudi Aramco has 35-40 days of supply to meet contractual obligations, a source close to the matter told CNBC.Energyread more
The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
OxyContin maker Purdue Pharma filed for Chapter 11 bankruptcy protection on Sunday.Health and Scienceread more
Saudi Arabia on Saturday shut down half its oil production after a series of drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's...Futures & Commoditiesread more
U.S. stock futures sank amid fears that a surge in oil prices following an attack in Saudi Arabia could slow down global economic growth.Marketsread more
The recommendations include changing corporate reporting structures, creating a new safety group, and changing the cockpits of future planes to accommodate new pilots with...Aerospace & Defenseread more
The state would become the second in the country, behind Michigan, to ban the sale of fruit flavored e-cigarettes, which are popular with teenagers.Health and Scienceread more
Global real estate investor Barry Sternlicht told CNBC on Thursday that he disagrees with Nobel Prize-winning economist Robert Shiller, who predicted a day earlier that the U.S. residential housing market looks topped out.
Housing is a major asset class that's "actually trailing asset bubbles," said Sternlicht, chairman and CEO of the $42 billion-plus investment firm Starwood Capital Group. "It's cheaper to buy a house and finance it, than it is to rent in many markets."
In a "Squawk Box" interview Wednesday, Shiller, co-founder of the Case-Shiller housing index, said he "won't bet" on the increase in home prices since 2012 continuing.
"Home prices are ... at about the right level based on history. So maybe they won't go anywhere in the near future," the Yale professor warned.
A day later on the program, Sternlicht expressed optimism about buying homes as an investment. "The housing sector is going to be a major asset class in this country."
The Starwood Capital chief did acknowledge that Americans are "a little nervous about taking mortgages." He blames that, in part, on the gridlock in Washington, D.C., in solving the country's debt problems and reforming entitlements.
But Sternlicht said the collapse in oil that's led to cheaper gasoline would help consumers feel more confident. "You're going to see things like lodging doing better this summer. People will be driving more." He also predicted the impact of less expensive prices at the gas pump would eventually translate into better retail sales.
On the investor side of the equation, he's concerned about the easy money policies being pursued around the world.
"Smart investors are really nervous," Sternlicht said. "It seems to me, there's a big dike [on] the world's economies, and the politicians and the [central] banks are plugging all these holes, but it's getting harder and harder to hold these holes."