The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sector this year, spiked on Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
The subpoeana from Manhattan District Attorney's Cyrus Vance Jr.'s , for President Donald Trump's tax returns, was issued last month to Trump's accounting firm, Mazars.Politicsread more
While the UAW has rejected the offer and sent roughly 48,000 of its workers out on strike, the EV truck is widely expected to remain part of an eventual settlement.Autosread more
While markets await a Saudi update, investors are likely asking how the kingdom left itself so vulnerable, and what it means for the future.Energyread more
The new chief of the Federal Aviation Administration says he plans to test out Boeing's software changes to the 737 Max in a simulator.Airlinesread more
AT&T said in a press release Wednesday that it would give more than 200,000 of its U.S. workers who are union members a special bonus of $1,000. The company also increased its capital expenditures budget by $1 billion in the U.S.
"Congress, working closely with the President, took a monumental step to bring taxes paid by U.S. businesses in line with the rest of the industrialized world," CEO said in a statement. "This tax reform will drive economic growth and create good-paying jobs. In fact, we will increase our U.S. investment and pay a special bonus to our U.S. employees."
AT&T had previously said that it would invest $1 billion in the U.S. if "competitive" tax reform legislation was passed, and has said that the tax reform framework could increase demand for AT&T's services.
The House of Representatives on Wednesday sent tax reform legislation to President Donald Trump, who is expected to sign it soon. Trump lauded the bill, calling it "an extraordinary victory for American families, workers, and businesses."
The new tax law will drop the corporate tax rate to 21 percent from the current 35 percent and includes other measures that Republicans say will spur businesses to invest domestically. AT&T's effective tax rate was 32.7 percent in 2016, according to its annual report. As of the third quarter, AT&T had about $16.5 billion in capital expenditures in 2017.
In Wednesday's announcement, AT&T noted its track record of creating U.S. jobs. Earlier this year, thousands of AT&T workers, members of the Communications Workers of America union, went on strike over issues like job security and outsourcing. Many AT&T workers already expected to receive 10 percent raises and $1,000 lump-sum back wages as a result of an agreement announced last week.
AT&T told CNBC the bonuses announced on Wednesday are above and beyond any existing agreements, which means some workers would get two $1,000 allocations: One with a new contract, and one when the tax reform bill is signed.
AT&T's tax reform announcement comes a month after the Justice Department challenged AT&T's pending merger with Time Warner. Trump has said the deal is "not good for the country" because it might make prices increase.
On the other hand, AT&T stands to be a potential beneficiary of another recent move by the Trump administration: the FCC's repeal of net neutrality regulation. The new regulatory landscape will afford AT&T more flexibility to control the pricing and speed of content for its internet customers, although AT&T has said it will not make big changes to the way internet services are delivered.
Stephenson is a longtime Republican donor, contributing to candidates, political action committees and the party for at least the last two decades. In 2016, he donated to candidates including Speaker of the House Paul Ryan and Arizona Sen. John McCain. In June of this year, he donated to Trump, presumably for his re-election campaign, and sent almost $34,000 to the Republican National Committee, according to the Center for Responsive Politics.
Later in the day, cable and media company Comcast made a similar move: it announced it would give special $1,000 bonuses "[b]ased on the passage of tax reform and the FCC's action on broadband." Those bonuses would apply to more than 100,000 employees that are eligible and not in executive roles.
The company also made a big spending commitment to bolster its broadband plants, television and film production, and theme parks, pledging an outlay of at least $50 billion over the next five years.
— CNBC's Sara Salinas and Jacob Pramuk contributed to this report.
Disclosure: Comcast is the owner of NBCUniversal, parent company of CNBC and CNBC.com.