Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
The yield on the benchmark 10-year Treasury note briefly fell below the 2-year rate on Wednesday, a phenomenon in the bond market known as yield curve inversion, which is...Marketsread more
The MacBook Pro recall and its subsequent ban from flights underscores the increasing brand risk from problems with lithium-ion batteries.Technologyread more
Experts say the timing of Amazon executives' contributions to Rep. David Cicilline likely reflect the company's heightened urgency over growing regulatory scrutiny.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Coinbase security chief Philip Martin explains, "Possession of a key is possession of your currency. What that means is that you can't revoke a cryptocurrency key, if that key...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
The Supreme Court could strike down the constitutionality of the Consumer Financial Protection Bureau, an agency Elizabeth Warren has likened to her child and which Justice...2020 Electionsread more
Bianco Research's James Bianco suggests Wall Street is desperately looking for a signal that a 50 basis point cut is coming next month.Trading Nationread more
The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
South Korea is in no hurry to set up an advanced missile defense system designed to protect its shores from North Korean aggression despite fears of another intercontinental ballistic missile attack from its northern neighbor.
In June, South Korean President Moon Jae-in suspended further installation of the $923 million Terminal High Altitude Area Defense, or THAAD, pending a full review. That move was welcomed by China, who vehemently opposes the technology. And even as Kim Jong-un's regime threatens "merciless blows" to its enemies, Seoul isn't expected to shift its stance.
That's because the American hardware carries emotional political baggage for South Koreans, Jenna Gibson, director of communications at the Korea Economic Institute of America, wrote in a note published this week by the Center for Strategic and International Studies. "THAAD is not about China, or even the U.S. — it is about scandal-ridden former President Park Geun-hye."
The fact that THAAD was initiated by Park — the country's first democratically elected leader to be ousted from office via impeachment — is South Korea's core issue with THAAD, the note explained.
Park's image was greatly scarred once news broke of her role in a multi-million dollar corruption scandal last year. Backlash against her sparked months of mass street demonstrations that became known as the "Candlelight Revolution."
Many believe Park hurried through the deployment of THAAD's initial two missile launchers while she was still in office to prevent her successor from reversing the decision, according to Gibson.
The initial stages of THAAD deployment took place in South Korea earlier this year. The system, paid for by Washington, was tested last month when the U.S. shot down a simulated ballistic missile. However, the majority of South Koreans oppose sudden THAAD deployment, a May poll revealed.
"Demand for democracy is particularly high because of the candlelight revolution, and demand for democratic procedural legitimacy for the THAAD deployment is, therefore, high," Moon told the U.S. Congress earlier this month during a visit to Washington.
The former human rights lawyer, who also repeatedly questioned THAAD during his election campaign, reassured Congress that his demand for a probe wasn't a reversal of deployment plans.
In May, the president discovered that four additional THAAD missile launchers were installed without his knowledge — a realization that triggered an official probe into the entire system.
"These procedural issues, along with the fact that a full environmental review of the deployment area was not previously conducted, raised concerns among the Korean public," Gibson said.
The situation is a red flag for Washington, which has long pressed for swift missile defense implementation.
"I'm troubled by the fact that it is now going to be resubmitted for political debate in the Republic of Korea as to whether or not they will accept our $923 million investment in missile defense for their country," U.S. Sen. Dick Durbin said in a June 7 hearing. "I can't follow their logic here."