Earlier Friday, Trump tweeted that American companies "are hereby ordered to immediately start looking for an alternative to China, including bringing your companies HOME and...Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
Federal Reserve Vice Chair Richard Clarida said Friday the global economy has deteriorated in the past month.Marketsread more
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
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
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread 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
The death comes as federal and state health officials investigate a slew of lung illnesses in connection to e-cigarette use.Health and Scienceread 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
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
Lowe's is vying for a category of customer that Home Depot has traditionally dominated — the professional contractor.Retailread more
Activist investor Nelson Peltz told CNBC on Friday that P&G has wasted more than $100 million to fight his attempt to get on the board.
"This proxy fight is probably the dumbest thing I've ever been involved in," the billionaire CEO of Trian Partners said. "Think about that, $100 million, all this sales and effort, to keep me off the board," he said. "And I've said that if I come on the board, no one has to get off. I will nominate the man to come right back on."
He said the vote, scheduled for Tuesday, will be close.
"I'm not allowed to speculate," Peltz said on "Squawk Box. " "But I would agree it's probably going to be close. I only have close ones."
Peltz's $12.7 billion hedge fund, Trian Partners, has taken a $3.5 billion stake in P&G. He told CNBC he's seeking a P&G board seat because the company has "lost its soul."
Peltz said Trian has gotten results even when it has lost proxy fights.
The hedge fund manager said he believes he can still work with P&G Chief Executive Officer David Taylor, adding people can mend fences after the dust settles.
When asked whether Taylor should be CEO, Peltz said, "with me, absolutely," adding "Trian has a policy that we when get into a company, our goal is to work with the CEO."
In a press release Friday morning, P&G made its case for why it doesn't need Peltz on the board.
"Peltz of Trian is vying for a P&G Board seat in the middle of a successful transformation that is delivering results," the statement said. "Peltz's timing is late to P&G's turnaround."
"After extensive due diligence, we have concluded that Mr. Peltz does not fit the criteria we are seeking for the P&G Board," the statement added. "We respect Mr. Peltz as an investor and will continue to engage constructively with him as a P&G shareholder."
Peltz criticized P&G in July — and numerous times since then — saying that the company's transformation is being hindered by its "suffocating bureaucracy." The consumer products company's brands include Tide detergent, Gillette razors and Pampers diapers.
—Reuters contributed to this report.