In a series of tweets, the president addressed an unusual controversy stemming from a speech Thursday that New York Fed President John Williams delivered.Marketsread more
Four members of the House Armed Services Committee, including ranking member Mac Thornberry, R-T.X., said moving forward with the contract was critical to U.S. national...Technologyread more
Companies aren't waiting for the U.S.-China trade war to be resolved, says the head of the world's biggest money manager.Investingread more
Walmart is making further organizational changes to further integrate its store and digital operations and leadership, according to a memo obtained by CNBC that was sent by...Retailread more
George Nader helped arrange a January 2017 meeting in the Seychelles between Erik Prince and the head of Russia's sovereign wealth fund, who reported directly to Vladimir...Politicsread more
"I'm not hearing people blame the Fed as much as they're blaming tariffs," says CNBC's Jim Cramer.US Economyread more
Earlier, Williams said in a speech that "it's better to take preventative measures than to wait for disaster to unfold."The Fedread more
Gold has been on fire this year and some investors think it is poised to do something it has only done twice since World War II.Marketsread more
The University of Michigan's preliminary print on its consumer sentiment index ticked up to 98.4, from 98.2 in June. Economists polled by Refinitiv expected the preliminary...Economyread more
The mega-cap tech stocks that have led much of the record-long bull run have started to lose steam, but investors are still giving them the benefit of the doubt.Marketsread more
Houston, we have liftoff. Fifty years ago, man landed on the moon and McDonald's and a handful of other stocks took off into the stratosphere. Two of them have more fuel in...Trading Nationread more
Ford Motor is planning to cut about 10 percent of its jobs around the world as the beleaguered automaker makes a new push to increase profits and lift a stock that is lagging near a five-year low.
A source familiar with the plan told CNBC that Ford's cuts will involve primarily salaried workers in North America and Asia. Hourly jobs, particularly in North America, will not be cut as the company works to keep up with demand for new vehicles, which remains relatively strong.
Worldwide, the company employs about 200,000 people.
In a statement, Ford would not confirm it is slashing jobs.
"We remain focused on the three strategic priorities that will create value and drive profitable growth, which include fortifying the profit pillars in our core business, transforming traditionally underperforming areas of our core business and investing aggressively, but prudently, in emerging opportunities," the company said in a statement. "Reducing costs and becoming as lean and efficient as possible also remain part of that work. We have not announced any new people efficiency actions, nor do we comment on speculation."
Unlike job cuts in the past, this time Ford's moving to slash costs while the company is solidly profitable. In fact, 2016 was the second most profitable year ever for the company. But with Ford spending heavily on autonomous-drive, electric vehicles and mobility solutions, investors are wondering how much those investments will cut into future profits.
During the company's annual meeting last week, Ford Chairman Bill Ford was asked about the company's slumping stock, which is hovering near a five-year low.
"We're as frustrated as you are by the stock price, " Ford said. "The Ford family wants the stock to go up. Our net worth is tied up in this company, of
Since CEO Mark Fields took over in July 2014, Ford's stock is down 36 percent.