Chinese officials are expected to be in Washington this week to hold consultations with the U.S. ahead of high-level trade talks in October.World Economyread more
President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
The meeting comes amid months of stalled trade talks between Washington and New Delhi, resulting in both sides taking retaliatory measures.Asia Politicsread more
Just a week after Hurricane Harvey hammered Texas and Louisiana, Hurricane Irma is set to make landfall in Florida, and that could be bad news for the restaurant industry.
The storm, a Category 5, is expected to strengthen and hit the Sunshine State this weekend, and restaurant stocks are already dropping in anticipation of damage.
Restaurants that have a significant number of locations in the area stand to see sales shrink in the third and fourth quarter as deadly winds, storm surges and flooding cause closures and displacement of workers.
On Tuesday, Canaccord analyst Lynne Collier identified the restaurants she covers that are most at risk for sales losses due to destruction by Irma: Fiesta Restaurant Group, which owns Taco Cabana; Ruth's Hospitality Group, which operates Ruth's Chris Steak House; Outback Steakhouse owner Bloomin' Brands and BJ's Restaurants.
Collier noted that Fiesta Restaurant Group is the most at-risk restaurant in the area, as about 37 percent of its restaurants are located in Florida. Ruth's Hospitality Group has about 21 percent of its locations there and about 19 percent of Bloomin' Brands restaurants are expected to be in the range of the storm.
In Tuesday trading, shares of Fiesta Restaurant Group were down 5.2 percent. Ruth's Hospitality and Bloomin' Brands shares both dropped less than 1 percent, while BJ's Restaurants shares slipped 3 percent.
As is true with Hurricane Harvey, the majority of relief efforts will be geared toward rebuilding homes, not businesses. So, restaurant owners who are unable to finance the restoration of their location may be forced to stay closed longer or shutter their business altogether.