Chinese officials will be in Washington on Wednesday to hold consultations with the U.S. ahead of high-level trade talks in October.World Economyread 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
The meeting comes amid months of stalled trade talks between Washington and New Delhi, resulting in both sides taking retaliatory measures.Asia Politicsread more
General Motors said Monday it would launch a new, $5 billion share buyback, and put forward a more detailed plan for capital allocation that promises investors the potential for further cash returns.
GM said it had reached a deal with an investor group that averts a proxy fight over its balance sheet and governance. As part of the agreement, investor Harry Wilson will drop his effort to get a seat on GM's board.
Wilson on Monday praised the company's capital plan, which offers investors a more transparent view of GM's cash investment proposals than previously disclosed.
GM also confirmed Monday it will boost its quarterly dividend to 36 cents a share from 30 cents previously. It had disclosed plans to raise its dividend last month.
In all, the actions should return about $10 billion to shareholders through 2016.
The auto maker outlined its plans for managing cash as part of a deal that averts a battle with an investor group that last month challenged its hoarding of cash in what the company called a "fortress balance sheet."
"I think Mary Barra is a pretty class act," Appaloosa's David Tepper told CNBC. It's been well-known that GM has not been the best allocator of capital over the years and they showed today they have a compensation scheme that is tied to allocating capital correctly and creating shareholder value and they made it transparent."
Some investors had expressed frustration with GM's approach as its shares traded in a range near $33, the price set at its post-bankruptcy initial public offering in 2010. In premarket trading Monday, shares were up 2.6 percent at $37.78.
"It happened quickly because they were ready for it...they were on their way to this," Tepper said of Monday's announcement. "We probably accelerated it."
GM had built up roughly $25 billion in cash as its sales and profits rebounded following its 2009 government-led bankruptcy.
But from now on, GM said it would aim to keep $20 billion in cash on its balance sheet and return free cash flow beyond that to shareholders. The framework depends on GM maintaining an investment grade balance sheet.
GM Chief Financial Officer Chuck Stevens said $20 billion in cash should be enough to allow the automaker to manage through a recession, and he said GM would try to work that minimum cash level down over time.
That suggests the company could eventually return more cash to investors than outlined on Monday.
—CNBC contributed to this report.