The trade war between the United States and China has lasted for more than one year — and a resolution is nowhere in sight.World Economyread more
The Fed is expected to cut rates Wednesday, but it is unlikely to tell markets what they want to hear on future rate cuts.Market Insiderread more
Pelosi said Trump should not have tried to address China's trade practices in a way that opened Americans up to financial pain.Politicsread more
Investors await the Fed's latest decision on monetary policy, set to be released on Wednesday stateside. The U.S. central bank is widely expected to cut rates by 25 basis...Asia Marketsread more
TransferWise posted an annual net profit of £10.3 million on revenues of £179 million.Technologyread more
Live the high life with a night's stay at Highclere Castle, the iconic stately home made famous by Downton Abbey.Spendread more
Large banking institutions face the risk of failure if interest rates in Europe continue to stay negative, warns the global chief economist of the Economist Intelligence Unit.Banksread more
The fallout from two fatal crashes of Boeing 737 Max planes has ensnared the manufacturer's most-loyal customer: Southwest Airlines. The carrier has canceled thousands of...Airlinesread more
Brent crude oil jumped the most in history in the previous session after attacks on Saudi's oil industry disrupted the kingdom's production.Marketsread more
In the survey, conducted after the third in the Democratic Party's series of debate, the former vice president draws 31% compared to 25% for the Massachusetts senator. At 14%,...2020 Electionsread more
Stocks rose slightly on Tuesday, but gains were capped as the Federal Reserve kicked off a two-day monetary policy meeting.US Marketsread more
Billionaire buy-and-hold investor Ron Baron told CNBC on Friday that he passed on investing with Hollywood producer Harvey Weinstein years ago due to "very disturbing" stories.
Baron said he was told by people he knew in the entertainment industry about reports of Weinstein's alleged sexual misconduct when vetting an opportunity to put money with Harvey and Bob Weinstein in August of 2009.
"An investment banker brought them to visit us, Harvey and his brother Robert, Bob. We spent a day and a half speaking with them," the chairman and CEO of Baron Capital said on "Squawk Box" at his annual investor conference in New York.
After that meeting, Baron said: "We were convinced that Harvey was this fantastic producer and would make great movies and great television shows. So we were interested in investing a small amount even though it was a private company."
But when it came time to do his homework before making a decision on whether or not to move forward with investing in The Weinstein Company, Baron said his sources at the time made allegations that were very specific about what they said women had to do to get jobs working on projects with Harvey Weinstein.
"Uniformly, we had the same story of the events that are being written about today. We knew that eight ... years ago," Baron said. "The people we spoke to knew that as well."
"We heard a lot about women. So it was very disturbing," he added. "You don't want to do business with people who you don't care for."
Baron said that when he called to decline, Harvey Weinstein was very upset, saying Baron wasted his time. Baron said he can't remember who hung up on whom.
"It's amazing to me that this is eight ... years later, and you're seeing it for the first time in the paper," Baron said. "How did this happen? How was this allowed to happen?"
Representatives for Harvey Weinstein and The Weinstein Company were not immediately available to respond to CNBC's request for comment on the allegations from Baron, who first wrote about this situation in his quarterly letter to shareholders.
Since the avalanche of allegations about sexual improprieties, following last month's bombshell reports in The New York Times and the New Yorker, Harvey Weinstein has apologized for behavior that he said "has caused a lot of pain." He has also said he sought treatment, but said through a spokesperson, "Any allegations of non-consensual sex are unequivocally denied."
Weinstein was fired from The Weinstein Company on Oct. 8, three days after the Times broke the story. The Weinstein Company, and before that Miramax, produced some of the most critically acclaimed movies of a generation. On Oct. 14, the organization behind the Oscars expelled Weinstein, who won an Academy Award in 1999 for Best Picture for "Shakespeare in Love."
Baron has made his fortune by generally buying stocks of publicly traded companies that he feels are undervalued, and then holding those positions for a long time. Baron Capital manages nearly $26 billion on behalf of clients.