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 sector this year, spiked on 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
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 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
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
An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
The subpoeana from Manhattan District Attorney's Cyrus Vance Jr.'s , for President Donald Trump's tax returns, was issued last month to Trump's accounting firm, Mazars.Politicsread more
While the UAW has rejected the offer and sent roughly 48,000 of its workers out on strike, the EV truck is widely expected to remain part of an eventual settlement.Autosread more
While markets await a Saudi update, investors are likely asking how the kingdom left itself so vulnerable, and what it means for the future.Energyread more
The new chief of the Federal Aviation Administration says he plans to test out Boeing's software changes to the 737 Max in a simulator.Airlinesread more
Amazon has its own trucks, drones and maybe some planes. Soon, you might be able to add ships to the list.
The company's China subsidiary has received a license in the U.S. to operate as an ocean freight forwarder — an entity that organizes the shipment of goods from a supplier or factory in one region — say, China — to a company or customer somewhere far away, like the U.S.
The license was unearthed by Flexport, a San Francisco-based logistics startup that published a blog post on the news today.
"Amazon China now has the appropriate paperwork to provide ocean freight services for other companies," the blog post read. "This is Amazon's first step toward entering the $350 billion ocean freight market."
The move comes as Amazon continues to make inroads in controlling more of what happens after a customer clicks "Buy" to ultimately cut down on shipping costs and improve speed and reliability of deliveries.
In the blog post, Flexport CEO Ryan Petersen suggests that Amazon's competitive advantage over old-school freight forwarders will be the automation of some steps of the shipment process through software, thus cutting labor costs along the way.
As Petersen notes, Amazon could add an ocean shipment service to its popular Fulfillment By Amazon warehousing offering to help transport goods from Amazon sellers in China to Amazon warehouses quicker by cutting out middlemen.
In another scenario, such a service could be employed to help Chinese sellers ship directly from China to the doors of customers in America, in a salvo aimed at Wish, the $3 billion shopping app that Re/code recently profiled, he suggested. Third-party businesses now account for almost half of all goods sold on Amazon globally.
An Amazon spokeswoman declined to comment.
CNBC's parent NBC Universal is an investor in Re/code's parent Revere Digital, and the companies have a content-sharing arrangement.