J.P. Morgan economists said they now see a much slower economy in the second quarter, with growth of just 1%.Market Insiderread more
Former Foreign Minister Boris Johnson is seen as the bookmaker's favorite to succeed outgoing Prime Minister Theresa May.Europe Politicsread more
The combination of mounting recession fears, bets on a more cautious Fed and a regular uptick in market volatility could spell more losses, writes Nomura.Marketsread more
The move comes just a day after the FAA's acting head said airlines don't need to keep canceling Max flights.Airlinesread more
The therapy, Zolgensma, is a one-time treatment for spinal muscular atrophy — a muscle-wasting disease and leading genetic cause of infant mortality, affecting one in every...Health and Scienceread more
The Pentagon will send additional American troops, drones and fighter jets to the Middle East amid increasing tensions between the United States and Iran.Politicsread more
An analyst for Ark Invest, which has a major investment in Tesla, says recent drastic price-target cuts by others on Wall Street are missing the big picture.Investingread more
A spokesman for Nadler told CNBC that the chairman is "okay," and that he "seems to have been dehydrated and it was very warm in the room."Politicsread more
The Moelis & Co. founder says the current market volatility from tense U.S.-China relations is impacting large-cap stocks.Investingread more
The meeting is expected to take place on the sidelines of the Shangri-La Dialogue defense summit in Singapore.Defenseread more
Former Goldman Sachs macro trader and Fortress hedge-fund manager is the latest to point out problems with modern-day capitalism and income inequality.Financeread more
Near-zero interest rates aren't good for the economy in the long run, bond guru Bill Gross said Wednesday.
That's because low rates hinder the ability of savers to earn a return on their money, and that impedes investment, he said.
"Capitalism can't really thrive," the manager of the Janus Global Unconstrained Bond Fund said in an interview with CNBC's "Power Lunch. "
"Ultimately in terms of real economic growth, an economy needs certainly a positive interest rate and maybe even a close to positive real interest rate in order to function normally," he said.
However, the central bank noted the labor market has strengthened and said other indicators were pointing to growth.
Gross believes the Fed is dividend.
"I think some of the Fed are beginning to believe, as I've suggested for the past several years, that interest rates at near-zero percent levels have a negative affect at some point on the real economy."
He thinks those members would be comfortable with a 25 or 50 basis point increase, despite a possible near-term effect on equity prices.
When rates finally do rise, Gross said money can be made in assets like gold, real estate and real estate investment trusts that would move up with inflation.
— CNBC's Jeff Cox contributed to this report.