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 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 sectors this year, spiked 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
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread 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
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread 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
The meeting comes amid months of stalled trade talks between Washington and New Delhi, resulting in both sides taking retaliatory measures.Asia Politicsread more
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
As the amount of money that Chinese app users spend continues to swell at a break-neck pace, Google is missing out on a growing chunk of potential revenue because its Google Play app store is barred from that market, new data from App Annie shows.
Chinese consumers spent nearly $35 billion on apps in 2017, marking a 270 percent in two years, with more aggressive growth likely ahead.
However, it's only Apple and Chinese companies like Tencent and Baidu — which have their own Android app stores — that reap the benefits of that, since Google pulled search from China and had most of its services blocked back in 2010. (Although it's technically possible for Chinese smartphone users to access the Play Store via virtual private networks, data from 2017 shows that a tiny percentage actual go through the effort to do so.)
Meanwhile, App Annie predicts continued strong growth in China, calling the country a "tale of two markets." Some cities, like Beijing and Shanghai, have already reached advanced levels of app maturity while people in lower tier cities and rural areas are just starting to adopt smartphones. Google and Apple both take a 30 percent cut of app purchases, so as the pie grows bigger, so too would their slice.
Google's most recent plans to relaunch a censored version of the Play Store in partnership with Chinese company Netease, reported by The Information, show that the company realizes the huge potential of this market. Alphabet doesn't break out what percentage of its revenue comes specifically from the Play Store — it lumps those together with money from its swelling cloud business and hardware sales. In Q3 of 2017, Alphabet's so-called "Other Google revenues" hit $3.4 billion.
Overall, smartphone users downloaded over 175 billion apps and spent more than $86 billion on them in 2017, according to App Annie, and the average spends 3 hours in apps every day.