Chinese officials are expected to be in Washington this week to hold consultations with the U.S. ahead of high-level trade talks in October.World Economyread more
Saudi Arabia's defense spending is the world's third-largest — behind the U.S. and China, says Gary Grappo, former U.S. ambassador to Oman.Energyread 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 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 sectors this year, spiked 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
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread 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
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread 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
In the world of male grooming, beards are still very much a thing — but don't tell that to the companies thriving in online razor sales.
On the internet, electronic tributes to beards are a testament to how the trend for hirsute men remains strong, shown by the proliferating number of grooming companies that cater to them.
Conversely, razors are also holding up, with men appearing to flock to lower-cost upstarts that are posing a stiff challenge to big brands like Gillette and Schick. Market research company Euromonitor International considers online sales of men's shaving products the hottest story in men's grooming. Last year, the U.S. saw a whopping $342 million in internet sales of male shaving products, the firm recently reported.
Among the smaller razor brands that have cropped up recently, Bevel is considered among the fastest growing: it saw explosive sales growth of about 103 percent over the last year, data from research firm Slice Intelligence show.
And whether men are choosing to go hairy or clean shaven, the chief executive of Bevel's parent company isn't sweating the pressure — in part because of the population his product targets.
"One thing folks don't ask is why a lot of men are choosing to wear beards. It's very important to think about the demographic that we are serving," Tristan Walker, founder and CEO of Walker & Co. Brands, told CNBC in a recent interview.
Walker said that many men who sport beards have suffered from shaving irritation and grooming troubles that are exacerbated by traditional shaving products. Then along came Bevel — a razor designed to reduce bumps and irritation.
He founded his company about three years ago in a effort to challenge the "ethnic aisle," otherwise known as the area at retailers where products geared toward ethnic minorities are marketed. When he created Bevel, Walker set out with an ambitious goal in mind: to "make health and beauty simple for people of color," he said, calling them underserved.
Those same consumers are a dominant force in retail, with black spending power alone accounting for at least $1 trillion, according to data from the University of Georgia. Additionally, upwardly mobile African-Americans who earn at least $75,000 annually spend significant amounts on cosmetics and retail products, Nielsen said in a 2015 survey on black spending.
In three years, Walker's company has raised a little more than $33 million from investors, a process that he described as "incredibly difficult, because the investors you're trying to pitch don't understand that the problem that you're trying to fix is a problem."
Despite the slog, the strategy is starting to pay dividends. In February, Walker secured a deal with Target to have his products sold in its retail outlets.
The CEO explained that he's carving his own lane in the grooming market.
"By definition we are not in a saturated space," Walker told CNBC. "We are the only company that is serving the underserved. By focusing on the problem and not the product, we are able to innovate in ways that other people are not."