President Donald Trump said on Twitter he was postponing a scheduled meeting with Denmark's prime minister because of her lack of interest in discussing the possible sale of...World Politicsread more
After Elon Musk touts Tesla solar on Twitter, Walmart sues the electric vehicle and clean energy company over store rooftop panels that ignited.Technologyread more
The bond market has entered a financial twilight zone, and at this point, there doesn't seem to be a smooth way out.Market Insiderread more
Trump said he has "been thinking about payroll taxes for a long time" — and he cautioned that "whether or not we do something now, it's not being done because of recession."Politicsread more
Secretary of State Mike Pompeo privately told business executives and free traders that the trade war could end by the 2020 election and that hurdles to an immediate agreement...2020 Electionsread more
Market bull Jeff Saut told CNBC on Tuesday that the lows are in and the market is headed "much higher."Marketsread more
Home Depot CFO Carol Tome says "consumer confidence is near record high levels" but "consumer demand could be impacted" by lingering U.S.-China trade tensions.Mad Money with Jim Cramerread more
The company's stock seesawed after the markets closed Tuesday, initially swinging up by 4% before falling by about 2%.Retailread more
VMware has become accepting of the corporate rush to the cloud. A new acquisition could help it make more revenue as companies adopt a modern approach called serverless...Technologyread more
President Donald Trump believes he has quite the bargaining chip with the European Union.Marketsread more
The United States does not have a defense against hypersonic weapons, which can travel at least five times the speed of sound, or a little more than a mile per second....Defenseread more
After 202 years in business, America's oldest gun manufacturer, Remington, has filed for Chapter 11 bankruptcy protection.
The filing by Remington Arms Company and its parent, Remington Outdoors, was disclosed late Sunday night on the website of the United States Bankruptcy Court in Delaware. Details of the filing were not immediately available, but in a note to investors on Friday, the company reported negative operating cash flow as of March 25 of $7.4 million.
Remington Outdoors, which also owns gun manufacturers including Marlin and Bushmaster, says sales in 2017 were just over $600 million, down more than 30 percent from 2016.
Like other gun manufacturers, Remington saw sharp sales declines following the 2016 presidential election, as customers apparently saw less urgency to stockpile firearms under President Donald Trump.
Adding to Remington's problems are heavy debt, as well as product liability concerns involving its signature product, the Model 700 bolt-action rifle, which CNBC first investigated in 2010.
While Remington maintains that the guns are safe, the company has agreed to replace the triggers on millions of guns in a class action settlement. The company has refused to say whether the bankruptcy filing — which it first signaled last month — will affect the settlement.
Remington said in February that the bankruptcy would be pre-packaged under an agreement with its lenders. It is not immediately clear when the company hopes to emerge from bankruptcy.
Remington is owned by private equity giant Cerberus, which began buying up gun companies a decade ago. Soon after CNBC's first investigation in 2010, Cerberus dropped plans for an initial public offering of what was then known as the Freedom Group.
After the 2012 massacre at Sandy Hook Elementary School in Newtown, Connecticut, Cerberus announced plans to exit the gun business, but could not find a buyer. Cerberus eventually let its institutional investors cash out of Freedom Group, which remained on Cerberus' books, eventually renamed Remington Outdoors.