President Donald Trump said on Monday that China is ready to come back to the negotiating table and the two countries will start talking very seriously.Politicsread more
The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Lloyd Blankfein, Goldman Sachs' chairman and chief executive, is preparing an exit by the end of the year after a 12-year tenure atop the Wall Street powerhouse, according to a report.
Goldman shares took an immediate hit following the late Friday morning report from The Wall Street Journal but then stabilized and was up 1.5 percent by early afternoon.
No formal timeline has been set for Blankfein's exit and it's possible he could remain at the bank into next year and beyond, sources familiar with the situation told CNBC. Goldman declined to comment to CNBC about the report.
Blankfein became CEO in 2006 and until Friday had indicated he was in no hurry to leave. In late 2016, the bank named two co-presidents, Harvey Schwartz and David Solomon. Both executives are in their mid-50s and are the likeliest candidates to succeed Blankfein, at least from within the bank, according to the Journal, which cited people familiar with the matter.
Schwartz and Solomon were named to succeed Gary Cohn, Blankfein's long-serving lieutenant who left to become the top economic advisor to President Donald Trump last year. Cohn announced on Tuesday he was leaving the White House.
Solomon is a long-time investment banker and advisor to some of the firm's most important clients, while Schwartz spent time as Goldman's chief financial officer and once ran the firm's trading operations.
Goldman marks its 150th anniversary as a firm in 2019, a milestone that has been seen as a natural point for a change at the top. Blankfein's tenure has been longer than many CEOs.
"Lloyd's been there a while compared to most of his recent predecessors," said Christopher Whalen, the head of Whalen Global Advisors, an investment bank advisory. "Goldman has typically liked to keep things moving. I think it would be a good change for the firm."
The exact timing on the departure by Blankfein, 63, could change, according to the WSJ report.
In 2015, he was diagnosed with cancer. In his first interview after months of chemotherapy for lymphoma, he told CNBC in February 2016 that he was feeling "pretty good."
"From the moment I got the diagnosis, I went about it and dealt with it. I was able to handle the meds pretty well," he said at the time.
— CNBC's Jeff Cox and Andrew Ross Sorkin contributed to this report.