Drone strikes attacked an oil processing facility at Abqaiq and the nearby Khurais oil field on Saturday.Marketsread more
Trump said oil would be released if needed to keep the market well supplied and he would expedite the approval of pipelines in Texas and other states.Marketsread more
Saudi Aramco is aiming to restore by Monday about a third of its crude output that was disrupted after drone attacks on two key oil facilities, The Wall Street Journal...Marketsread more
The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
BlackBerry has reinvented itself to become a leader in securing mobile communications and in embedded communications. Next year it plans to roll out new products. CEO John...Evolveread more
J.C. Penney said same-store sales for November and December fell 0.8 percent, the latest department store chain to report a disappointing holiday season performance.
The company's shares fell as much as 5.8 percent to $7.40 in premarket trading on Friday.
"The first three weeks of November proved to be challenging in stores," Chief Executive Officer Marvin Ellison said in a statement.
Comparable sales, however, improved from Thanksgiving week through the end of December, driven by demand for products including appliances, boots and toys, he said.
J.C. Penney maintained its earnings before interest, taxes, depreciation and amortization (EBITDA) target of $1 billion for fiscal 2016 ending January 2017.
The retail giant's report follows Wednesday's disappointing holiday sales reports from Macy's and Kohl's. Both companies saw weaker holiday sales, with November and December comparable sales slipping 2.1 percent. Kohl's CEO Kevin Mansell calling the season "volatile" because "strong sales on Black Friday and during the week before Christmas were offset by softness in early November and December."
Last month, retail analyst Jan Kniffen told CNBC he was worried about J.C. Penney because House Republicans have proposed ending tax breaks for companies — like the retail giant — that make interest payments. If the proposal passes, it would result in a massive cut in profits, Kniffen said.
Things in December seemed brighter on the consumer side of things, however. The Consumer Confidence Index in final month of 2016 reached its highest level since August 2001, hitting 113.7. Economists polled by Reuters expected the Consumer Confidence Index to reach 109 for the month.
—CNBC's Elizabeth Gurdus and Reuters contributed to this report.