Hours after President Trump said Sunday he had "second thoughts" about escalating the trade war with China, the White House sought to explain his remark because it was...Politicsread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
President Donald Trump said that he would have a major trade deal with U.K. after it leaves the European Union.Politicsread more
Despite Kudlow's expectations, China said on Saturday that it strongly opposes Trump's decision to levy additional tariffs on $550 billion worth of Chinese goods, and warned...Politicsread more
President Donald Trump said Sunday he was not happy after North Korea launched short-range ballistic missiles over the weekend.Politicsread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
The Goldman Sachs technology M&A team, led by Sam Britton, has cashed in on its software focus and decades of experience to dominate 2019's biggest deals.Technologyread more
American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
The summit comes amid fears over a global economic slowdown, and U.S. tensions over trade allies, Iran and Russia.Politicsread more
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
There's been a lot of talk surrounding self-driving cars but former General Motors Vice Chairman Bob Lutz, told CNBC a completely autonomous model is five to six years away.
"What's much closer is what I call 'super cruise,'" Lutz said on Wednesday's "Power Lunch. " "On the freeway you can hit the super cruise button and the car will steer and drive and brake and accelerate and slow down etc. automatically." This technology is made possible by lane departure inputs and electric power steering.
Cars with this feature will be available as early as next year from high-end brands like Cadillac and "possibly" others, according to Lutz. Tesla CEO Elon Musk tweeted that his company would be unveiling related software on Thursday.
However, the super cruise option is not necessarily good for driving through local roads with many stoplights and which still require human supervision.
The next step, Lutz said is a car that "comes to your house, picks you up ... and then [takes you] wherever you're going to go to your final destination, and then goes away and parks itself."
Lutz added, "There's really no reason why these cars can't be on the market in five years at the latest."
He also said that insurers and lawmakers will have to accept the changing tides as autonomous technology slowly creeps into the auto sector.
"They're just going to have to deal with it and they will because the self-driving car is inevitable," he said.
And in terms of accidents, Lutz said self-driving cars have a better safety record than human drivers so he sees no reason why insurers would be reluctant to jump on board.
"Now, will there be accidents? Sure." he said. "But it'll probably be 10 percent of what we have today."