It was the third trigger of the recession indicator in less than two weeks.Bondsread more
U.S. manufacturer growth slowed to the lowest in almost 10 years in August, the latest sign that the trade war may be exacerbating the economic slowdown.Marketsread more
Philadelphia Fed President Patrick Harker said he doesn't see the case for additional stimulus after the Federal Reserve's July rate cut.The Fedread more
Stocks fell as fears of an economic recession built up ahead of a key speech from Federal Reserve Chairman Jerome Powell.US Marketsread more
"My sense was we've added accommodation, and it wasn't required in my view," George tells CNBC's Steve Liesman.Investingread more
Former Prudent Bear Fund manager David Tice is urging investors to brace for a massive downturn.Trading Nationread more
Apple plans to unveil three new iPhones in September, including two new "Pro" models and a successor to the iPhone XR, Bloomberg reported Thursday.Technologyread more
While Volkswagen may not want to invest in Tesla, the U.S. carmaker has been scouting locations in Europe for a new Gigafactory there.Autosread more
Corporate profits posted modest growth in the second quarter as companies brace for slowing global growth.Retailread more
A ruling against J&J could mean more big payouts in similar cases across the country.Health and Scienceread more
Kraft has filed a contempt motion against the CFTC over a press release announcing the $16 million fine to settle claims of manipulating wheat prices.Food & Beverageread more
"Fault lines" in each political party have to be dealt with before tax reform can be completed, the chairman of the House Ways and Means Subcommittee on Tax Policy told CNBC on Thursday.
For Republicans, the divide is over whether to make the reforms temporary or permanent, said Rep. Peter Roskam.
"Permanent is paid for, permanent is harder — but permanent is better," he said in a "Squawk Box " interview.
Roskam said some Democrats see the economy as a zero-sum game — "a fixed pie — and if somebody does better, someone else is doing worse."
"I don't buy that. I don't think that's how the economy works," he said.
The six-term Illinois Republican also emphasized the "urgency" surrounding the issue, saying Congress has a rare possibility to enact permanent tax reform. Not since the 1920s has the Republican Party had this level of control over the White House and both chambers of Congress.
"Not delivering on tax reform is completely unacceptable," he said. "We have a once-in-a-generation opportunity to have fundamental tax reform, and let's drive as hard as we possibly can to get that done."
Roskam said legislation may not end up at the 15 percent corporate tax rate that President Donald Trump has predicted. Rather, the congressman said his blueprint proposed a 20 percent corporate rate and reducing the seven current individual rates to three.
"This is a matter of negotiation," Roskam said, adding that his committee is working toward four goals: growth, simplicity, dealing with base erosion and making reform permanent.
Of the polarization in Congress and the increasingly rare display of bipartisanship, Roskam said those issues have to be put aside.
"Both political parties have some sorting out to do, and there's an urgency to this," he said.
Correction: Rep. Peter Roskam is chairman of the House Ways and Means Subcommittee on Tax Policy. An earlier version misstated his title.