Current and former Tesla employees working in the company's open-air "tent" factory say they felt pressure to take shortcuts to hit aggressive Model 3 production goals,...Technologyread more
The one-to-eight stock split would mean the current number of ordinary shares — which stands at 4 billion — will increase to 32 billion. It comes ahead of a reported Hong Kong...Asia Marketsread more
Minutes from the Reserve Bank of Australia's monetary policy meeting in July showed the central bank was ready to adjust interest rates if required.Asia Marketsread more
The findings by McKinsey and Company come amid a year-long tariff fight between the U.S. and China, which has spilled into areas such as technology and security.China Economyread more
Microsoft's considerable reach into the corporate world isn't something Slack CEO Stewart Butterfield is very concerned about.Technologyread more
In a closed-door meeting at a Manhattan mansion, executives outlined changes to controversial software that was implicated in two crashes.Aerospace & Defenseread more
President Donald Trump and the RNC are picking up key supporters in the business community who did not back him as a candidate in 2016.2020 Electionsread more
Amazon workers in Minnesota and Germany are striking as Prime Day kicks off, in a stand against working conditions and wage practices. The action in Minnesota represents the...Retailread more
Treasury Secretary Steven Mnuchin is raising red flags ahead of Facebook's proposed cryptocurrency launch.Marketsread more
Beto O'Rourke's campaign for the 2020 election raised just $3.6 million in the second quarter of this year, putting him in the lower tier of candidates who have struggled to...2020 Electionsread more
Epstein is accused of sexually exploiting dozens of underage girls from 2002 through 2005 at his New York and Florida residences. He is a former friend of Presidents Donald...Politicsread more
President Barack Obama said his landmark health care law is "here to stay" after it survived its second major legal challenge Thursday.
"This law is working. And it's going to keep doing just that," Obama said in a press conference.
The Supreme Court ruled in a 6-3 decision Thursday that federal subsidies—which help nearly 6.4 million people pay for their Obamacare health plans—are legal under the Affordable Care Act. A pillar of Obama's first campaign and tenure in office, the law was designed to reduce the number of uninsured Americans.
"This not an abstract thing anymore. This is not a set of talking points. This is reality. We can see how the law is working. It works exactly as it is supposed to," he said.
The latest decision exacerbated the political tension surrounding the health law. Reactions immediately came from both Obama's Democratic and the opposition Republican Party, with officials looking ahead to how the 2016 presidential election could affect U.S. health care.
In a press conference, House Speaker John Boehner (R-OH) said the ruling does not change a "fundamentally broken" system. He added that Republicans will continue efforts to repeal the law and "put the American people back in charge of their own health care."
The case known as King v. Burwell was the latest challenge to Obama's health care law. Since its passage in 2010, the ACA has withstood numerous congressional attempts to repeal and a previous Supreme Court case.
A win for Thursday's plaintiffs—who argued that only customers of state exchanges can receive the financial boost—could have disrupted coverage for up to 8 million people in states served by the federal insurance marketplace by next year.
"Congress passed the Affordable Care Act to improve health insurance markets, not to destroy them," Chief Justice John Roberts wrote in the majority decision. Joining Roberts in the majority were Justices Anthony Kennedy, Ruth Bader Ginsburg, Stephen Breyer, Sonia Sotomayor and Elena Kagan.
Conservative Justice Antonin Scalia, in his dissent to the decision, called the majority decision "absurd." He wrote that Roberts' opinion "changes the usual rules of statutory interpretation for the sake of the Affordable Care Act."
After the decision Thursday, the Republican Party maintained its official stance that the government has overreached with the law. In a statement, Republican National Committee Reince Priebus contended that the U.S. needs a leadership overhaul to "fix our broken health care system."
Obama refuted those claims on Thursday.
"This has never been a government takeover of health care," he said.
House Minority Leader Nancy Pelosi (D-CA) on Thursday called the decision "a victory for common sense and for all American families." She called on Republicans to "abandon their assault" on the ACA.
— CNBC's Dan Mangan contributed to this report