The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
Supreme Court Justice Ruth Bader Ginsburg has completed a three-week course of radiation therapy for cancer, the top court said in a statement Friday.Politicsread more
Epstein, 66, a former friend of Presidents Donald Trump and Bill Clinton, was arrested by FBI agents in early July as he stepped off his private plane at an airport in...Politicsread more
Lowe's is vying for a category of customer that Home Depot has traditionally dominated — the professional contractor.Retailread more
The president tweeted Friday morning that he was ordering "our great American companies" to "immediately start looking for an alternative to China."Marketsread more
Yields slipped after Powell said the central bank will continue to act as appropriate to sustain the economic expansion.Bondsread more
Multinationals that rely on the supply chain from China are tumbling after President Donald Trump ordered them to find alternatives to their Chinese operations.Marketsread more
Mercedes-Benz USA CEO Jason Hoff told CNBC on Friday that the automaker's midterm predictions show that up to 25 percent of cars may soon be fully electric.
"Some of the midterm horizons that we look at show maybe 15 to 25 percent [of cars] being full electric," the CEO told "Closing Bell. " "That's why we believe it's really critical to stay flexible in our operations to make sure that we can basically react to whichever demand comes, either the gas or the full electric."
Hoff's statement came after Mercedes-Benz, the luxury division of the Germany-based Daimler AG, announced it would invest $1 billion in a Tuscaloosa, Alabama, factory to kick-start electric-vehicle production.
The automaker said the investment would add 600 jobs to the factory's existing 3,700, build a nearby facility for assembling battery systems and eventually enable Mercedes to offer more than 50 electrified versions of its cars by 2022.
The new models, which will be sold globally, will either be plug-in hybrids, fully electric or some other form of electric, Hoff said.
"I think consumers are still going to have a choice between traditional gas engines and electric vehicles," the CEO said. "Our goal of our operations and our strategy is to stay flexible for either one, and that's what we're doing with our new investment."
That said, Hoff acknowledged the existing trade-offs that might steer consumers toward traditional gas-fueled vehicles.
"Today, we go to a gas station and we fill up our car in a couple of minutes. And right now when you go to charge your vehicle, you know, you're looking at 20 to 30 minutes, at least, to get some kind of charge on the vehicle," Hoff said. "So that's where some of the big trade-offs are that we're still working on and, really, the whole automotive industry is working on."