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
Ford still has work to do to be a truly "fit" company, said CEO Jim Hackett on Wednesday.
The second-largest automaker said it is not yet fit enough to offset headwinds from higher commodity prices, which the company expects to continue to affect finances in 2018.
"Ford is a strong company," Hackett said on a conference call Wednesday, after the company released earnings for the fourth quarter and full year of 2017. "I am proud of it, but we have not done enough to be fit today."
In particular, it is less fit than its peers, who have said they are not feeling the same pressure from commodity prices.
Higher commodities and unfavorable foreign exchange rates have hindered Ford in recent quarters. The company is attempting a turnaround under Hackett, who was appointed CEO in early 2017.
Ford spends about $10 billion in commodities annually, and about two-thirds of that go to steel and aluminum. The company benefited from falling prices in 2015 and 2016. But the market began to turn in late 2016 and prices are expected to continue their climb through 2018.
Ford uses a larger amount of aluminum than competitors in some of its vehicles, particularly in its trucks and SUVs. But aluminum is not the primary problem, said CFO Bob Shanks on Wednesday's conference call. Steel is the real issue, he said.
Ford expects revenues in 2018 to be flat or modestly higher over 2017, and is expecting flat to lower profits from its automotive business. It is also expecting lower profits from its Ford Credit business.
At the same time, Ford plans to spend about $7.5 billion in capital in 2018. The company is plowing profits into investments in new mobility initiatives, such as developing self-driving cars. Ford is battling a perception that it is behind rivals and tech firms on mobility technologies.
Ford has a plan to improve fitness, Hackett said, but he did not disclose many details on what action the firm plans to take, saying he wanted to discuss plans within the company first.