British Prime Minister Theresa May is expected to make a final attempt at persuading lawmakers to back her "new" Brexit deal on Wednesday but the agreement — and May's...Europe Politicsread more
Consumers in China are taking to social media to express their support for Huawei as the U.S. government looks to ramp up pressure on the Chinese smartphone maker.Technologyread more
Tensions between the two parties have heightened in recent months as the campaign for seats in the Brussels and Strasbourg-based parliament has crescendoed.Europe Politicsread more
Shares of Saudi shopping mall operator Arabian Centres were trading at 24.34 riyals ($6.49) in early deals in Riyadh.IPOsread more
There is at least one thing in common between the U.S. and Russia – their willingness to weaken the European Union, a top EU official said.Politicsread more
U.S. President Donald Trump's latest tariff increase — and Beijing's plans to counter them — are hitting U.S. companies in China, according to a joint survey this month by...China Economyread more
"We are also constantly watching whether the trade war will turn into a tech war," Ma said Tuesday, according to a CNBC translation of his Chinese remarks published by a locak...China Economyread more
TransferWise, the money transfer start-up, was valued at $3.5 billion after investors bought $292 million of shares in a secondary sale.Technologyread more
Indian Prime Minister Narendra Modi's likely return to power for a second term will likely be positive for his country's growth, according to economists and investors.Asia Economyread more
Kohl's, J.C. Penney and Nordstrom release disappointing earnings news, putting a damper on their sector.Retailread more
"Pretty much the entire suite of apps that 'talk' over the internet could be vulnerable," said Tom Uren, a senior analyst at the Australian Strategic Policy Institute's...Cybersecurityread more
Chesapeake Energy, the second-largest natural gas producer in the United States, plunged as much as 50 percent on Monday after multiple reports that it had hired restructuring attorneys.
Chesapeake shares were down $1.01 at $2.05, having been halted at least eight times in morning trading. Despite these reports, the energy company said in a statement that it has no plans to pursue bankruptcy, and Chesapeake is aggressively seeking to maximize value for all shareholders.
Chesapeake, which has more than $10 billion in debt, has been hit by a steep fall in both oil and gas prices. Reuters reported that the company's bonds maturing next month plunged 20 points, to a level of 75 cents on the dollar, on the news.
In an interview with CNBC, John Arnold, the legendary energy trader formerly of the hedge fund Centaurus Advisors, was less optimistic about Chesapeake's current situation.
Arnold noted that the company's "legacy costs are overwhelming" and "they have too much debt."
In terms of the energy market more broadly, Arnold added that "E&P companies have seen tremendous strain on their businesses."
"Margins were not bad in 2015, but companies had a high percentage of oil price hedged. They're not as highly hedged in 2016 and saw a steep change in revenue on January 1st," said Arnold.
According to the Natural Gas Supply Association, Chesapeake trailed only ExxonMobil among natural gas producers in the first half of 2015, at a volume of 2,979 MMcf per day.
Chesapeake has 14 bonds due between Jan. 2017 and Dec. 2038. Nearly all of those bonds are trading between $0.50 and $0.24, and the yield on their note due Aug. 2017 jumped from 73 percent to 99 percent on Monday.
— Reuters and CNBC's Scott Wapner, John Schoen and Christopher Hayes contributed to this report.