Chinese officials are expected to be in Washington this week to hold consultations with the U.S. ahead of high-level trade talks in October.World Economyread more
Saudi Arabia's defense spending is the world's third-largest — behind the U.S. and China, says Gary Grappo, former U.S. ambassador to Oman.Energyread 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 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
"I don't believe that bitcoin is going to be a currency today or in the future," Schultz said, during a post-earnings conference call Thursday after the closing bell on Wall Street. (Shares of Starbucks were under pressure on Friday after another quarter of disappointing sales growth as holiday offerings failed to draw in customers.)
Instead, Schultz told investors he sees potential in blockchain, the online ledger technology underlying digital currencies. "I'm talking about ... the possibility of what could happen — not in the near term, but in a few years from now — with a consumer application in which there's trust and legitimacy with regard to a digital currency."
"I'm not bringing this up because Starbucks is announcing that we are forming a digital currency or we're investing in this," Schultz said, according to audio of the call on the Starbucks website. "I'm bringing this up ... as we think about the future of our company and the future of consumer behavior."
Last month, Schultz told CNBC he could see a future in which the U.S.-based coffee chain would be cashless one day. He joined Starbucks in 1982 as director of operations and marketing. He served twice as CEO, a role he turned over to Kevin Johnson last April.
Reacting to Schultz's comments, Johnson reiterated that the company has no specific project or investment in blockchain. But he did say on CNBC's "Squawk on the Street" on Friday the coffee giant is testing a cashless store in Seattle. "Payment and payment platforms are continuing to evolve," and Starbucks wants to stay ahead of the curve, he added.
Bitcoin as an investment was relatively steady Friday, trading around $11,000. The world's largest cryptocurrency saw a massive price surge last year but has had a rough start in 2018.
Despite bitcoin's popularity, there are also big-name naysayers.
At the World Economic Forum in Davos, Switzerland, this week, bitcoin was hammered by many top business leaders.
J.P. Morgan Chase Chairman and CEO Jamie Dimon has said virtual currencies would never be a major competitor to the dollar. But he's indicated blockchain could be used for more efficient transactions. Dimon recently said that he regrets calling bitcoin a "fraud" back in September.