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
"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
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
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
Some operators are cashing in on the CBD craze by substituting cheap and illegal synthetic marijuana for natural CBD in vapes and edibles such as gummy bears, an AP...Health and Scienceread more
Attack on Saudi oil facilities shows that 'risk is real', Chevron CEO Michael Wirth said on CNBC's "Closing Bell" Monday.Marketsread more
J.P. Morgan's chief quant says oil prices would start to hurt stock prices when they hit the $80 to $85 range.Market Insiderread more
As the major carriers yank them from shelves, Verizon's CEO said he's never seen a recall like the one for the Galaxy Note 7.
"This is by far the biggest concern I've seen in cellphones during my tenure," said Lowell McAdam. "I think [Samsung's] a little surprised the fix didn't fix things. So it's a major black eye for them. As I said to Tim Cook the other day, they've got pretty good karma, because they launched the iPhone 7 when they did."
McAdam spoke from the Internet Association's Virtuous Circle conference in Menlo Park, California, meant to gather "the most important stakeholders of the internet economy."
"I certainly, in however many years it's been now, have not seen a recall like this," McAdam said.
It comes after at least five reports have surfaced of Galaxy Note 7 phones overheating or catching fire, according to The Associated Press, despite a global recall of the handsets last month. A Verizon spokeswoman told Reuters that it may shift its marketing away from the Galaxy Note 7 phone heading into the holiday season.
"We recognize that carrier partners have stopped sales and exchanges of the Galaxy Note 7 in response to reports of heat damage issues, and we respect their decision," Samsung told CNBC. "Even though there are a limited number of reports, we want to reassure customers that we are taking every report seriously."
McAdam said he expects Samsung will get back on its feet, but reports of problems in the replacement device are "pretty well-substantiated."
"We'll give you a device of your choice versus another Note 7 — it's just not safe at this point in our view," McAdam said. "Note 7s are off the shelf at this point."
He said Verizon customers can turn their Galaxy Note 7 phones into Verizon in exchange for another device. So far, he's seen that most Android operating system customers are very loyal to it, and so Samsung's other phone, the Galaxy S7, and Google's Pixel, are both selling. Apple has also seen a small boost, he said, but people "aren't flocking away from Samsung."
Verizon is one of the only carriers that invests in testing laboratories for the devices it carries, McAdam said, and the batteries will get a lot of testing going forward. But McAdam said that at the end of the day, Verizon will still have to rely on smartphone makers.
"I have tremendous respect for them — if you look at where Samsung was 10 years ago. ... The landscape has changed dramatically and they have become a very high-quality company," McAdam said.
Correction: McAdam spoke at the Internet Association's Virtuous Circle conference. A previous version misstated the name of the conference.