While the U.S. gave Huawei a 90-day reprieve, allowing American businesses to keep selling specific products to the Chinese firm, it also added more affiliates of the...Technologyread more
United States Steel Corp will temporarily lay off hundreds of workers at its Great Lakes facility in Michigan in coming weeks, according to a filing the steelmaker made with...US Marketsread more
Home Depot's CEO said the retailer cut its outlook partly due to "the potential impacts to the U.S. consumer arising from recently announced tariffs."Retailread more
The report comes as Trump in recent days has lashed out over media reports about growing recession fears.Politicsread more
The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
GE kicks off a new week after some crazy moves. Two traders urge caution.Trading Nationread more
U.K. Prime Minister Boris Johnson told the EU that a Brexit deal can still be approved by U.K. lawmakers if Brussels agrees to scrapping the contentious Irish "backstop."read more
Baidu posted better-than-expected earnings for the June quarter, swinging back to profit and managing to stabilize its core ad business.Technologyread more
Several big Pimco funds controlled by Ivascyn have reportedly been trimming their bond market positions in the U.K. and Europe.World Marketsread more
While Hong Kong leader Carrie Lam painted a bleak picture of the city's economy, she expressed hope that dialogue with protesters could provide "a way out."China Politicsread more
China's pursuit of the Middle East may spur growth in the Islamic finance sector.World Economyread more
General Electric "absolutely" has to cut its dividend, analyst Jeff Sprague told CNBC on Friday.
The founder of Vertical Research Partners expects a "meaningful cut," perhaps down to about 50 cents from the current 96 cents.
"If you look back over the last few years, it was fine that the industrial cash flow wasn't covering the entire dividend because you had GE Capital covering its fair share. But the company has shrunk, GE Capital is gone and it's just not sustainable for the industrial company to carry that dividend any longer," Sprague said in an interview with "Power Lunch. "
GE's new CEO, John Flannery, is expected to lay out strategic changes and new financial targets at its investor day presentation on Monday. The plans may also include the slashing of that dividend. If that occurred, it would be only the third GE dividend cut since the Great Depression.
However, Sprague doubts eliminating the dividend is on the table.
What he does expect is a plan that leads to GE becoming smaller and more focused.
In a note to investors on Friday, Sprague said, "It is also conceivable that looking out a few years, GE ceases to exist as we know it."
However, he told CNBC he doesn't expect the company to break up.
"Mr. Flannery has a tough conundrum here. He does need to simplify and shrink the company a bit. I think that's a prerequisite here. But to do a full-scale breakup I think is very implausible and could destroy value," he said.
— Reuters contributed to this report.