Trump said he will raise tariffs on $250 billion in Chinese goods to 30%, and hike duties on another $300 billion in products to 15%.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
The death comes as federal and state health officials investigate a slew of lung illnesses in connection to e-cigarette use.Health and Scienceread more
Bank of England Governor Mark Carney says trade war has a confidence effect on business around the worldMarketsread more
Supreme Court Justice Ruth Bader Ginsburg has completed a three-week course of radiation therapy for cancer, the top court said in a statement Friday.Politicsread more
After Herbalife lowered its sales guidance Monday, blaming disruptions caused by new FTC guidelines,
"On May 4th Herbalife raised guidance driving the stock to new highs. Insiders including [CEO Michael] Johnson sold their stock and options. Fewer than three weeks after the stock sales, the company is now lowering guidance, somehow claiming that it is surprised by reduced volumes the first month the FTC settlement takes effect," the hedge-fund manager said in a statement emailed to CNBC.
CNBC's Scott Wapner reported Sunday evening that Herbalife would be lowering its sales guidance for the second quarter. Herbalife now expects revenue to be 1.5 percent lower than prior estimates, with a key sales metric known as volume points expected to be 3 percent below its earlier view. Earnings per share were actually increased for the quarter and the full year. The new FTC regulations went into effect in recent weeks.
"We also recently learned that Mark Friedman, the company's general counsel and the only signatory of the settlement agreement with the FTC, and other top executives have left the company. Remarkably Herbalife has yet to disclose, let alone explain the reasons behind these departures," the Ackman statement continued.
On May 23rd, China Securities Journal reported that the head of Herbalife's China operations had abruptly left the company after a 10-year career there. No press releases from the company in May or June discusses executive departures and no news was disclosed to the SEC.
Despite these events and Ackman's long-held short position, Herbalife shares neared an all-time high last week. The stock dropped more than 6 percent during trading Monday.
---With reporting by Tae Kim