Hours after President Trump said Sunday he had "second thoughts" about escalating the trade war with China, the White House sought to explain his remark because it was...Politicsread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
President Donald Trump said that he would have a major trade deal with U.K. after it leaves the European Union.Politicsread more
Despite Kudlow's expectations, China said on Saturday that it strongly opposes Trump's decision to levy additional tariffs on $550 billion worth of Chinese goods, and warned...Politicsread more
President Donald Trump said Sunday he was not happy after North Korea launched short-range ballistic missiles over the weekend.Politicsread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
The announcement for Target also comes on the heels of a strong quarterly earnings report, where it showed it drove more people to stores and got them to spend more money...Retailread more
The Goldman Sachs technology M&A team, led by Sam Britton, has cashed in on its software focus and decades of experience to dominate 2019's biggest deals.Technologyread more
American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead 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
The summit comes amid fears over a global economic slowdown, and U.S. tensions over trade allies, Iran and Russia.Politicsread more
Millennials are changing a host of industries, but perhaps none more drastically than the financial technology space, PayPal CEO Dan Schulman told CNBC on Monday.
"You have to, to serve these markets, re-imagine how money can be managed and moved because there's going to be more change in the next five years in financial services than happened in the past 30," Schulman told "Mad Money " host Jim Cramer.
PayPal's peer-to-peer payment app, Venmo, speaks volumes to the way younger generations interpret money management, the CEO said.
"If you think about the under-30 generation, the millennial generation – GenTech, as I call them – they grew up with a screen in front of them. And so they think about everyday processes, like payments, differently than you and I do," Schulman told Cramer. "The public-private boundaries are different than what you and I grew up with."
"For Venmo, they put a tag or an emoji on every one of their payments," Schulman continued. "It's really not a P2P service, it's a social payments experience. And they love doing it. They open the app just to see what their friends are doing."
Today, Schulman said the person-to-person payment business is valued between $35 billion and $40 billion. In five years, its projected value is estimated to reach $335 billion.
Similarly, "online digital payments today are about $3 trillion," the CEO said. "By 2020, three years from now, it's supposed to be over $8 trillion. And we're a leader in that market right now with 218 million people using the platform, so we just got to keep delivering on what customers want, merchants want and to stay that market leaders."