The Business Roundtable, led by Jamie Dimon, gives a new definition of the "purpose of a corporation."Marketsread more
Stocks rose sharply on Monday as Treasury yields rebounded, quelling fears of a possible recession.US Marketsread more
Powell will have the opportunity if not to walk back the "midcycle" assessment then to at least provide some further explanation about what it means.Economyread more
Saudi Aramco sent a request for proposal to several banks, people familiar with the matter told CNBC Monday.Marketsread more
Twitter and Facebook have suspended numerous accounts that are believed to be tied to a state-backed information campaign originating from inside China.Technologyread more
Leaked documents from Google give fresh ammo to conservative lawmakers who have already accused Google and other tech companies of political bias.Technologyread more
J.P. Morgan estimates the average annual tariff cost per household will be $1,000 with the new round of Trump's tariffs.Marketsread more
Stasior left Apple earlier this year. Prior to his time in charge of Siri, he was a top executive at Amazon.Technologyread more
Sequoia's Michael Moritz says that direct listings worked for Spotify and Slack and will become more common for companies with "courage and intelligence."Technologyread more
Shares of embattled utility PG&E plummeted after a judge ruled that a jury can decided whether it should pay up to $18 billion in damages.Marketsread 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
Tesla is a "losing enterprise" that won't last, Bob Lutz, former vice chairman of General Motors, told CNBC on Friday.
"The company, folks, is going out of business. At this rate they'll never get to 2019," the well-known Tesla skeptic said in an interview with "Power Lunch. "
Among the issues facing the electric-car maker are fixed costs that are out of control, an inefficient manufacturing operation and no dealership network, Lutz said.
Plus, there's nothing about Tesla that can't be easily duplicated by other automobile companies, he argued.
"There is no secret sauce in Tesla. They use the same lithium-ion batteries as everybody else."
In fact, he thinks GM might even have an advantage because its batteries are arguably more capable and lower cost.
Tesla revealed a new electric semitrailer and sports car at an event Thursday night. On Friday, large trucking company J.B. Hunt Transport Services said it reserved "multiple Tesla Semi tractors " and Wal-Mart said it was going to test the new trucks.
Tesla shares were up nearly 3 percent Friday morning but gave back much of those gains, closing 0.8 percent higher.
Lutz believes the announcements were a way to deflect from the company's financial troubles.
"They are hemorrhaging cash. They're going to have to go for another capital raise," he said.
Tesla did not immediately respond to a request for comment.
— CNBC's Robert Ferris contributed to this report.