Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread 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
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
"I would love this to be clarified. We come to a deal on trade, boy, this market is up 10 to 15%, but without it's going to be worrisome," Jeremy Siegel says.Marketsread more
The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
Tesla solar energy systems reportedly ignited at an Amazon warehouse in Redlands, California last June, and the Seattle e-commerce titan confirmed that it has no further plans...Technologyread more
The death comes as federal and state health officials investigate a slew of lung illnesses in connection to e-cigarette use.Health and Scienceread more
After experiencing falling revenue for 14 straight quarters, the tech giant is downsizing.
At The New York Times DealBook conference Tuesday, Rometty told CNBC's Andrew Ross Sorkin the decline has been caused in part simply by being a global company. The other major factor is IBM has been divesting, a lot.
"In my tenure, I've divested $8 billion of businesses," Rometty said. "The point was, they weren't about the future of where we were going."
Rometty cited an example of a recent divestiture in hardware — making semiconductors. Now, only 10 percent of IBM is comprised of hardware.
That's an example where size does matter, " she said. "The world is consolidated, we were subscale, we did it for 60 years, right? So I do R&D but now I have a partner do the manufacturing for that area."
Rometty added that the strategic divestitures come from a desire to manage for the long term.
"It is really important to have a clear view of what you are … you have to keep moving up to what we call higher value," she said.
Rometty told Sorkin that IBM is working its way to that higher value. She said the company's 50 percent gross profit margins are up 80 basis points already.
"Tech is littered with areas that you could have high growth and make no money in, and that just has never been us," Rometty added. "It's been about the enterprise and what we do, and where we bring value to the client, and where in fact it brings value to shareholders here."
Update: In a note to CNBC, IBM points out its revenue has been roughly flat this year when you strip out the impact of currency and divested business.