A surface-to-air missile shot down a U.S. military drone over the Strait of Hormuz, a U.S. official said Thursday.World Politicsread more
President Donald Trump has publicly blamed the Federal Reserve's interest rates hikes for holding back U.S. economic growth.The Fedread more
China's President Xi Jinping arrived in Pyongyang on Thursday morning for a state visit to North Korea — the first by a Chinese state leader in 14 years. Experts say the move...Asia Politicsread more
Gold prices spiked in the afternoon of Asian trading hours on Thursday after a dovish U.S Federal Reserve opened the door to further rate cuts, and the 10-year Treasury yield...Metalsread more
The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
Waymo has signed a deal with Renault and Nissan to develop self-driving cars and trucks for use in France, Japan and possibly other countries in Asia, including China, the...Autosread more
It's crucial to note that the culprit behind attacks on two commercial tankers last week has not been conclusively proven.World Politicsread more
"No U.S. drone was operating in Iranian airspace today," a U.S. Central Command spokesman said, according to NBC News.World Politicsread more
The Fed left interest rates unchanged at its monetary policy meeting. The U.S. central bank did, however, drop the word "patient " from its statement and said it would "act as...Asia Marketsread more
As the presidents of U.S. and China near a highly anticipated meeting on trade, the gap in both sides' expectations regarding a deal remains wide.World Politicsread more
Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
It may be too early to tell if a tax bill that just cleared Congress is "the rage" in Corporate America, as President Donald Trump claimed Friday.
In a tweet, Trump said the Tax Cut and Reform Bill — which will slash the U.S. corporate tax rate to 21 percent from 35 percent — "has taken on an unexpected new source of 'love' - that is big companies and corporations showering their workers with bonuses." Trump concluded the tweet saying: "This is a phenomenon that nobody even thought of, and now it is the rage. Merry Christmas!"
But CNBC reached out to more than 80 of the largest companies and found that many say their strategy on the tax cuts is still in the works. Of the 89 companies we contacted, 35 responded to CNBC's inquiry. Six of those companies, including brands such as Walmart, Intel and Union Pacific, said it was too early to tell whether they would be raising wages or offering bonuses because of the new tax plan. Sixteen companies, including Amazon, declined to comment.
Below is a table of all the companies CNBC contacted in light of the tax bill clearing Congress. It also includes companies that announced plans to raise wages or give bonuses to employees in light of the tax plan passing. This scorecard will be updated as more companies make announcements on the matter.
A Verizon Communications spokesman told CNBC via email that the company will "talk about what we will do following tax reform passage after the new year." Union Pacific told CNBC the company had no plans to increase wages for its workers at this time. It's "too early to tell what kind of a financial impact it will have on us."
A spokesman for Walmart Stores said the company will "evaluate the changes, what they mean for Walmart and the best use of any tax savings but there's nothing from us to share at this time." He also said he would "expect to have more to share during the Q4 earnings discussion on Feb. 20."
Bank of America CEO Brian Moynihan said roughly 145,000 would receive a bonus of $1,000 as a result of the bill.
Boeing, Wells Fargo, AT&T, and NBCUniversal parent Comcast were among the companies that announced they would give employees bonuses and pay increases after the bill cleared both chambers of Congress.