President Trump stands a chance of creating a new economic world order in his China trade fight, says the chief economic advisor of Allianz.Economyread more
Most U.S. hedge funds aren't expecting another big stock market sell-off as more firms curb bets on volatility, according to Nomura.Marketsread more
A sell-off in chip stocks intensified following a report that chipmakers are cutting ties with Huawei after the Trump administration's ban.Marketsread more
Ford Motor said Monday that it is laying off about 7,000 salaried workers, about 10% of that global workforce, as part of a restructuring plan designed to save the No. 2...Autosread more
Google announced Google Glass Enterprise Edition 2 on Monday, a new set of smart glasses that's catered toward businesses and costs $999. Google has focused on business use...Technologyread more
More than 170 shoe retailers, including Nike, Under Armour, Adidas, Foot Locker, Ugg and Off Broadway Shoe Warehouse, have penned a letter to the White House asking President...Retailread more
Microsoft on Monday announced new moderation for its Xbox platform in an effort to cut down on toxic content and to make gaming safer for everyone.Technologyread more
People investing in some technology stocks should not expect them to go up anytime soon, warns the "Mad Money" host.Investingread more
Nordstrom has chosen Oct. 24 for the grand opening of its women's store in New York, the largest single-project investment in the company's history.Retailread more
The finalists from the Council for Economic Education's National Economics Challenge will put their problem-solving skills to the test Monday in a high school economics...US Economyread more
Raytheon on Monday said Robert O. Work, the former deputy secretary of Defense, was elected to its board of directors.
The announcement comes just a month after he left the second-ranking civilian post at the Pentagon, which made him essentially the day-to-day manager of the government's largest bureaucracy. The Department of Defense has more than 1.3 million service members on active duty and around 742,000 civilian personnel.
"Bob is well known in both the public and private sectors for his significant expertise in global security matters, most especially in the areas of defense strategy, advanced technologies, international studies and acquisition reform," Raytheon Chairman and CEO Thomas Kennedy said in a release. "In an era of rapid technological and geo-political change, Bob's vision and expertise will serve us well as we continue to shape our company for future success."
Work, 64, was appointed to the Department of Defense post in 2014 by President Barack Obama and left the job in July 2017. Work stayed on at the Pentagon several months into President Donald Trump's administration because of the lack of unfilled posts in the transition. A Marine, Work retired after 27 years of military service in 2001 with the rank of colonel.
Work's election to the Raytheon board continues what some describe as the "revolving door" between the Pentagon and industry. Raytheon declined comment beyond the press release.
Prior to being nominated as Trump's Defense secretary, James Mattis was on the board of General Dynamics, a large defense contractor. Similarly, Work's successor as the second in charge at the Pentagon is Patrick Shanahan, a former senior vice president of supply chain and operations for Boeing, another major defense firm.
Additionally, General Dynamics has a former deputy secretary of Defense, Rudy DeLeon, on its board. DeLeon, who served in the Pentagon post from 2000 to 2001, was named to the corporate board in 2014.