Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are underappreciated.Marketsread more
Shares of MasterCard are up 46% this year, and 1120% since 2011, getting a boost from the strong U.S. consumer.Investingread more
CNBC sat in on an "empathy training" at Amazon PillPack's Somerville offices, which is part of new hire orientation.Technologyread more
Trade with China is the 'big unknown' for the Federal Reserve as it decides how best to support the U.S. economy, says Council on Foreign Relations Director of International...Futures Nowread more
Lobbying experts said the visit is likely an attempt to be in lawmakers' ears as they consider legislation that would impact Facebook.Technologyread more
Yardeni Research's Edward Yardeni believes the U.S. economy is picking up steam.Trading Nationread more
Iran's audacious drone and cruise missile attack on Saudi Arabia's oil producing facilities has provided a critical test yet for the Trump administration's foreign policy. A...Politicsread more
Equifax will not survive the fallout from the massive data breach, technology attorney Mark Grossman predicted on Thursday.
There are 23 class-action lawsuits filed and a congressional investigation, as well as lawsuits that may be yet to come, he told CNBC.
"We've seen a $6 billion loss in market cap, estimated losses from these breaches in excess of $20 billion," Grossman said in an interview with "Closing Bell."
"This is ugly. The facts are still unfolding. It's going to get worse. ... We're pointing to a bankruptcy. We're pointing to a takeover."
The Federal Trade Commission said Thursday it is investigating the hack, which could impact up to 143 million Americans. The House is also holding a hearing on the matter, with Equifax CEO Richard Smith expected to testify on Oct. 3. Meanwhile, Senate Minority Leader Chuck Schumer called for the firm's executives to agree to testify in the Senate.
Equifax did not immediately respond to a request for comment on Grossman's statements.
However, the credit reporting company said in an updated post on its website that the breach, which it identified internally in late July and disclosed to the public last week, was the result of criminals exploiting a vulnerability in a website application called Apache Struts.
"We continue to work with law enforcement as part of our criminal investigation," the company said.
The breach exposed names, Social Security numbers, birth dates, and other identifying information as well as credit card numbers.
Grossman thinks it is almost inevitable that this will result in a new cybersecurity law.
"I see this as the straw that broke the camel's back. When you think about it and you compare our privacy protections to what they have in the EU, it's a joke in this country," he said.
For example, in Europe, citizens have the "right to be forgotten" and have data removed from online, he noted.
— CNBC's Liz Moyer and Linda Sittenfeld contributed to this report.