Huawei CEO Ren Zhengfei laid out plans to bring more efficiencies to the organization. This included simplifying the reporting structure, cutting down on surplus staff, axing...Technologyread more
The bond market has entered a financial twilight zone, and at this point, there doesn't seem to be a smooth way out.Market Insiderread more
China has used both monetary and fiscal measures to lift economic activity as its trade war with the U.S. looks set to intensify in the coming months.China Economyread more
President Donald Trump said on Twitter he was postponing a scheduled meeting with Denmark's prime minister because of her lack of interest in discussing a possible sale of...World Politicsread more
"I think (rate cuts) will help, but whether they're going to be sufficient to counter the negative trade pressures and global growth slowdown and impact is debatable," one...Central Banksread more
Chinese overseas investment growth will likely slow or even decline in the next few years as risks around the world increase, according to new research by Moody's Investors...China Economyread more
The two countries want to smash the civil aerospace duopoly enjoyed by Airbus and Boeing.Aerospace & Defenseread more
Alibaba held a board meeting before its latest quarterly earnings release last week, during which the board decided to postpone the Hong Kong listing, Reuters reported.Technologyread more
Federal Reserve Chairman Jerome Powell is set to deliver his annual speech on Friday at the Jackson Hole, Wyoming symposium, where he's expected to provide more clarity on the...Asia Marketsread more
U.S. and Asian investors poured $3.7 billion into U.K. tech start-ups in the first seven months of 2019, research shows.Technologyread more
After Elon Musk touts Tesla solar on Twitter, Walmart sues the electric vehicle and clean energy company over store rooftop panels that ignited.Technologyread more
The departure of White House chief strategist Steve Bannon may "incrementally" change things within the administration, but at the end of the day, President Donald Trump is still a poor leader, former Continental Airlines CEO Gordon Bethune told CNBC on Friday.
"I don't think you're going to change the stripes on the leopard here. We've got a guy who's a deal-maker and running a country, running a company, running any organization is not a deal. It's about building cohesion and teamwork and cohesiveness," Bethune said in an interview with "Power Lunch. "
After numerous reports that Bannon was leaving, the White House released a statement on Friday saying, "White House Chief of Staff John Kelly and Steve Bannon have mutually agreed today would be Steve's last day."
The controversial advisor, who holds populist nationalist ideas, helped propel Trump to office. However, tension has been festering between Bannon and other top advisors to Trump. On Wednesday, Reuters reported that discord between Bannon and national security advisor H.R. McMaster is destabilizing Trump's team.
Bannon is the latest official to leave the administration. Press secretary Sean Spicer, chief of staff Reince Priebus and Anthony Scaramucci, who served a short stint as communications director, are among the recent high-profile departures.
Bethune noted that Trump chooses his staff, but then he later publicly humiliates some of them.
"Who's going to want to work in that environment? You've got to build loyalty through your employees and to your constituencies," Bethune said.
"He's a poor business leader and poor country leader."
The White House did not immediately respond to a request for comment.
— CNBC's Jacob Pramuk and Fred Imbert contributed to this report.