Representatives from the Chinese side say they think it likely that Chinese President Xi Jinping will attend the G-20 meeting later this month. But in order to reach a trade...China Economyread more
Software engineers straight out of college often make six-figure salaries, not counting equity compensation.Technologyread more
Wall Street, though, is clamoring for a rate cut, with an 85% chance of a move in July and a 61% probability of three reductions by year's end.The Fedread more
A company spokesperson said the outage was the result of a "an internal technology issue" and was not security related.Retailread more
The flattening of the yield curve is exuding a bad omen for the stock market if history is any guide.Marketsread more
Using MIT's living wage calculator, CNBC Make It mapped out the minimum amount a single parent must earn to meet their basic needs without relying on outside help in every...Earnread more
Hong Kong Chief Executive Carrie Lam announced at a press conference on Saturday that a contentious bill to allow extraditions to mainland China has been put on hold.China Politicsread more
Stratolaunch, the world's largest airplane, which flew once, is up for sale, sources familiar told CNBC.Investing in Spaceread more
Transparency is key… or is it? With the first-ever non-transparent, actively managed exchange-traded fund receiving approval from the SEC, "ETF Edge" goes straight to the...ETF Edgeread more
Mired in a crisis over its best-selling 737 Max plane, Boeing could hand the spotlight over to its rival Airbus at the Paris Air Show.Airlinesread more
A new update to the Apple Watch called watchOS 6 will notify you if the environment you're in is too loud and could damage your hearing.Technologyread more
The New Yorker's article regarding Trump's business with the Silk Road Group is completely untrue, Giorgi Rtskhiladze, the group's U.S. executive, told CNBC on Friday.
The New Yorker stands by its reporting.
The article, published in August, details President Donald Trump's deal with The Silk Road Group to build luxurious condominiums in the seaside town of Batumi, Georgia. The article details suspected ties between Silk Road Group and BTA Bank, which is mired in allegations of fraud and money-laundering.
Although a licensing agreement for the building was reached (and Trump reportedly received $1 million for it), the deal ended in 2017 when Trump became president.
The New Yorker article quoted Rtskhiladze several times.
"It was a new reality. Mr. Trump became president. It was a different situation, and we amicably agreed to stop this contract," George Ramishvili, the group's CEO, told CNBC's "Power Lunch. "
Asked on "Power Lunch" about the allegations in the New Yorker article, Rtskhiladze said, "First of all, I hope less people read the New Yorker article because it's just untrue. … When reporting something, it would really help to be honest about facts, and the article has really neglected the facts."
"The BTA Bank-Silk Road relationship ended in 2008. … The deal with Mr. Trump and Trump Organization was signed in 2011," he continued.
Rtskhiladze said that the company has "not heard from anybody" — referring to special counsel Robert Mueller or other investigative bodies in the U.S. — who may want the company to testify against the president in the Russian probe.
Although Trump is no longer involved, the company announced it is moving forward with plans for the tower which will maintain the same architectural concept Trump approved of.
Ramishvili says he would be "happy" to team up with the president again in the future.
CORRECTION: A New Yorker article details suspected ties between Silk Road Group and BTA Bank, which is mired in allegations of fraud and money-laundering. The summation of that work was misstated in an earlier version of this article.