After Elon Musk touts Tesla solar on Twitter, Walmart sues the electric vehicle and clean energy company over store rooftop panels that ignited.Technologyread more
The bond market has entered a financial twilight zone, and at this point, there doesn't seem to be a smooth way out.Market Insiderread more
Trump said he has "been thinking about payroll taxes for a long time" — and he cautioned that "whether or not we do something now, it's not being done because of recession."Politicsread more
Secretary of State Mike Pompeo privately tells business executives and free traders that trade war could end by 2020 election. He also noted there continues to be hurdles for...2020 Electionsread more
Market bull Jeff Saut told CNBC on Tuesday that the lows are in and the market is headed "much higher."Marketsread more
Urban Outfitters reported earnings and same-store sales for the second quarter that beat analyst expectations, while revenue fell short.Retailread more
President Donald Trump believes he has quite the bargaining chip with the European Union.Marketsread more
Some Apple employees have become disillusioned with the group's culture, where some have thrived while others feel sidelined.Technologyread more
The United States does not have a defense against hypersonic weapons, which can travel at least five times the speed of sound, or a little more than a mile per second....Defenseread more
President Donald Trump renewed calls Tuesday to readmit Russia to the G-7 ahead of the group's summit in Biarritz, France, this weekend.Politicsread more
Biden has shown staying power at the top of a jammed Democratic field even as polling numbers for Sanders, Warren and Harris wax and wane.2020 Electionsread more
One former union boss has a bold idea on how to ensure economic stability in the U.S. — give every citizen $1,000 a month.
While the idea of a Universal Basic Income (UBI) is not necessarily a new one, Andy Stern believes his plan is important now because of "tectonic shifts" in the labor market that will see more and more workers replaced by robots.
"In order to make sure that everyone has a floor — something they can't fall below, that we end poverty once and for all — let's give everyone a check," the former president of the Service Employees International Union said in a recent interview with CNBC's "Power Lunch. "
Income inequality continues to be one of the urgent topics in the public discourse. There were 46.7 million people living in poverty in 2014, according to the latest data from U.S. Census Bureau. The poverty threshold was $12,331 a year for an individual under 65 and $15,871 for a two-adult household during that time.
Still, there is wide disagreement about how to alleviate poverty, whether the government should redistribute income to address it — or whether it's really a problem in the first place. Economists at the libertarian think tank Cato Institute recently argued that the income gap was being 'misperceived " by a range of factors that are being misinterpreted by the public.
Yet Stern, who is a senior fellow at Columbia University and author of "Raising the Floor," argues the debate is being shifted by concerns about the rise of artificial intelligence and the displacement of workers.
The World Economic Forum projects more than 5 million jobs in 15 leading countries will be lost by 2020, thanks to disruptive labor market changes, including the increased use of robots. Additionally, according to a 2013 Oxford study, 47 percent of U.S. jobs were at risk of being automated in the next two decades.
"A tsunami of change may be coming and we would be crazy to not look at the warning signs and figure out a plan," said Stern. "I'm not betting my kids life that this time is going to be the same as ever before. I'm not sure that's true."
The idea was also rejected in Switzerland earlier this month, when voters decided against a basic income plan. It was the first country to hold a referendum on the issue, but others including Finland are examining similar plans.
Stern, however, is undeterred, and has an answer for those who are concerned about the cost to the government. He would cut some of the government's 126 programs that already pay out cash.
However, he suggests Social Security should remain intact.
"I'm not saying we end all of them but certainly a lot of them. That's the basis of how we can fund this kind of program," he said. "We're going to have to change the welfare system going forward."
— CNBC's Kerima Greene contributed to this report.