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
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
Bezos's comments give a rare glimpse into his interest in the auto industry. Amazon recently invested in two self-driving start-ups.Technologyread more
While investing often seems like a contrarian game where going against the flow feels like the better bet, the reality is that investors who bought the most-favored stocks...Hedge Fundsread more
The economist thinks the Fed ought to pay more attention to financial markets when setting interest rates.The Fedread more
U.S. Trade Representative Robert Lighthizer will meet with officials from the European Union and Japan at the ministerial meeting of the Organization for Economic Co-operation...World Economyread more
AutoNation chief Mike Jackson said Friday the company missed estimates on first-quarter earnings because of "epic, biblical hail storms" last month in Texas.
The nation's largest dealer chain on Friday reported adjusted profit of 90 cents per share, 3 cents short of Wall Street expectations.
Jackson told CNBC's "Squawk Box " that severe damage to vehicles cost 3 cents per share during the quarter.
"We've never called out a hail storm before," he said. "We're fully at our [insurance] deductible. We're beyond that. ... It's a limited number of vehicles but they were just pounded."
The Insurance Council of Texas, the trade group for property damage there, said the March hail storms caused "over $1 billion in insured losses" across the state.
"The Street doesn't factor in hail storms," Jackson added. "I think it's asking too much for analysts to factor into their number what happens with hail."
He also cited a drag from a stock-based compensation expense.
If not for those hits, AutoNation would have exceeded earnings estimates, he said.
Revenue for the first quarter rose 3.6 percent to $5.12 billion, but fell short of forecasts of $5.29 billion.
"It's a particularly challenging environment" for auto sales, said Jackson, who also blamed a downturn in the economies of regions that depended on oil revenues.
Twenty-five percent of AutoNation's business comes from markets that depend on energy, he said, adding profits in those areas were down 20 percent because of depressed oil prices.