The U.S. had plans to hike duties on at least $250 billion in Chinese goods to 30% from 25% on Tuesday. Despite the partial trade deal, some banks on Sunday wrote that tariff...Marketsread more
The industry has pulled in $322 billion over the past six months, the fastest pace since the second half of 2008.Marketsread more
A technical recession occurs when there are two consecutive quarters of economic contraction.Asia Economyread more
The potential deal would shift Neumann's already diminished voting power to the Japanese conglomerate, according to the Journal.Technologyread more
U.S. President Donald Trump said that both sides reached a "very substantial phase one deal" that will address intellectual property and financial services concerns and...Asia Marketsread more
On Friday, Zedd tweeted about the ban, and CNBC verified the claim with his publicist on Saturday.China Politicsread more
Hunter's vows to forgo any foreign work follow a slew of unsubstantiated attacks by President Donald Trump accusing him of corruption.Politicsread more
Apple, the company that created the modern-day smartphone, is relying on technology customers are already extremely familiar with, like cameras, and taking a backseat when it...Technologyread more
Fisher was initially defiant amid the backlash in an interview with Bloomberg, in which he said he had "given a lot of talks, a lot of times, in a lot of places and said stuff...Personal Financeread more
Airlines continue to delay when they plan to have the planes back again with no sign from regulators on when the planes will be approved again.Airlinesread more
Turkey's invasion of northeastern Syria began Wednesday after Trump ordered U.S. troops to pull back from the area.Politicsread more
SoftBank completed its long-awaited investment agreement with Uber on Thursday, making SoftBank the company's largest shareholder and providing a huge payday for co-founder Travis Kalanick and other early backers.
"We're proud to have SoftBank, Dragoneer and the entire consortium in the Uber family. This is a great outcome for our shareholders, employees and customers," an Uber spokesperson said in a statement.
Kalanick, who was ousted as CEO last year after high-profile problems, will get $1.4 billion from the deal, a source familiar with the arrangement has told CNBC. His estimated fortune is $4.74 billion, according to Bloomberg.
Uber previously said the SoftBank deal would value the company at about $48 billion, a haircut from its previous valuation of nearly $70 billion. But the investment also provides liquidity for early employees, easing tension as the ride-hailing company aims for a 2019 public offering.
SoftBank has become an aggressive investor in Silicon Valley, and enters Uber's board as the company recovers from a massive data breach, regulatory scrutiny and a damaging workplace culture report.
The governance changes that accompany the deal also mark a milestone for CEO Dara Khosrowshahi, who has now successfully consolidated power at a company that was rife with infighting when he arrived.
SoftBank is an investor in Didi Chuxing, the majority owner of Uber's China operations, and has backed Grab, a ride-hailing company in Southeast Asia, as well as India's Ola.