Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.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 that 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
"I would love this to be clarified. We come to a deal on trade, boy, this market is up 10 to 15%, but without it's going to be worrisome," Jeremy Siegel says.Marketsread more
The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
Tesla solar energy systems reportedly ignited at an Amazon warehouse in Redlands, California last June, and the Seattle e-commerce titan confirmed that it has no further plans...Technologyread 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
Pershing Square Capital's Bill Ackman still has high hopes that Chipotle will rebound and become a big winner for his hedge-fund.
"We're going to work hard to help the company turn," Ackman said on CNBC's "Halftime Report " Monday. "This is an eminently fixable company ... This is still a great concept."
The hedge fund manager said Chipotle can improve its financial results by adding drive-throughs, longer hours and a breakfast offering and by expanding overseas. The burrito chain restaurant has struggled to win back customers after a series of food safety issues.
"We're not just betting on a recovery from the food safety issue," Ackman said on CNBC. "This is one of the least optimized of the quick service restaurants."
The investor also shared how he is valuing the restaurant chain.
"The right way to look at it in our view is not just to put a multiple on next year's" earnings, he said. Instead he looks at "what's a reasonable trajectory for a recovery and what will the earnings be two years out? Four years out? ... And then discount those earnings back in time. On that basis it's a very cheap stock if they can perform."
Chipotle dropped 15 percent on Oct. 25, a day after the company reported disappointing third-quarter results. Its shares are down 27.5 percent year to date through Friday compared to the S&P 500's 15.6 percent gain.
Pershing Square is the largest shareholder of Chipotle. The firm owned 2.9 million shares, or 10.2 percent of the company, as of the end of June, according to FactSet.
Ackman has stumbled in recent years with high-profile losing bets like Valeant Pharmaceuticals.
Pershing Square Holdings has been underperforming the stock market this year. The fund is down 3.3 percent year-to-date return through Oct. 31, according to its website.