Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female corporate-development...Technologyread more
Amazon's new policy for account suspensions doesn't go far enough to protect sellers from potentially unfair and wrongful suspensions, merchants say.Technologyread more
There is no end in sight to the Boeing 737 Max grounding after two fatal crashes, prompting airlines to rethink their growth plans.Airlinesread more
After a year of flooding, Midwest farmers face a stifling heat wave that's spreading across the U.S.Weather & Natural Disastersread more
On Saturday, Disney's Marvel Studios announced its upcoming slate of superhero films during a panel at San Diego Comic-Con.Entertainmentread more
Moving lots of data to a public cloud over the internet can take months or years. CNBC got an inside look at how AWS transfers data to the cloud for its clients.Technologyread more
A quarter of the S&P 500 companies report earnings next week, and that could buffet the market as investors await the July Fed meeting.Market Insiderread more
Iran's Revolutionary Guard claims a British tanker it still holds, Stena Impero, failed to follow international maritime rules.World Newsread more
"It troubles me that the most important political office in the world is becoming the face of racism and exclusion," Kaeser said in a Twitter post.Politicsread more
Silver's rally could be losing its shine after the precious metal reached its year-to-date high, futures experts warn.Futures Nowread more
Some 40% of Americans would struggle to come up with even $400 to pay for an emergency expense. Just how are so many Americans so short on cash? Blame debt.Personal Financeread more
A coalition of environmental groups sued President Donald Trump on Wednesday, arguing that he unlawfully rescinded his predecessor's executive order aimed at putting large swaths of U.S. waters off limits to oil and gas drilling.
The legal battle has been brewing since
In issuing its order, the Obama administration cited provision 12(a) of the Outer Continental Shelf Lands Act, which states, "The President of the United States may, from time to time, withdraw from disposition any of the unleased lands of the outer Continental Shelf."
That provision does not explicitly allow future executives to reverse their predecessors' action. The Obama administration essentially made a bet that a judge would determine Trump can't override its effort to permanently withdraw the areas from lease auctions.
As expected, Trump pushed back last Friday, signing an executive order aimed at making available for lease more of the U.S. Outer Continental Shelf, the parts of the ocean and seabed under federal jurisdiction. Among other things, it rescinded Obama's December order.
Now, environmental groups are asking the U.S. District Court of Alaska to prevent Interior Secretary Ryan Zinke and Commerce Secretary Wilbur Ross, also named as defendants in the suit, from executing the part of Trump's order that takes aim at Obama's offshore ban.
"We're aware of the complaint and reviewing it. We have no further comment," a Department of Justice spokesperson told CNBC.
The suit essentially takes the baton from the Obama administration, arguing Trump's order "exceeds his constitutional authority and his statutory authority under OCSLA, and
"Until Trump, no president has ever tried to reverse a permanent withdrawal made under OCSLA, which does not authorize such a reversal," the conservation groups said in a statement.
That is technically true, but it also obscures the unprecedented nature of Obama's action. Past presidents,
This novel interpretation has not been tested in the courts. Wednesday's action by the conservation groups — which includes the League of Conservation Voters, Natural Resources Defense
Opponents of Obama's ban counter that Trump's authority is likely implicit: By giving the president authority to withdraw blocks of land, the Outer Continental Shelf Lands Act likely allows another executive to put them back on the table.
The Republican-controlled Congress could also change the Outer Continental Shelf Lands Act to give the president explicit authority to override his predecessors' withdrawals.
In response to the lawsuit, the pro-drilling Arctic Energy Center argued there is no precedent for a president to issue a permanent ban. It also claims Obama's action was in conflict with a directive in the law to make the Outer Continental Shelf "available for expeditious and orderly development."
"We believe that President Trump's order is lawful and will play a critical role in catalyzing the creation of a thriving, self-sustaining economy in America's Arctic," center spokesperson Oliver Williams said in a statement.
Watch: Pruitt say you can be pro-growth & pro-environment