The Business Roundtable, led by Jamie Dimon, gives a new definition of the "purpose of a corporation."Marketsread more
Stocks rose sharply on Monday as Treasury yields rebounded, quelling fears of a possible recessionUS Marketsread more
Powell will have the opportunity if not to walk back the "mid-cycle" assessment then to at least provide some further explanation about what it means.Economyread more
J.P. Morgan estimates the average annual tariff cost per household will be $1,000 with the new round of Trump's tariffs.Marketsread more
Twitter said Monday it suspended hundreds of accounts that are believed to be tied to a "significant state-backed information campaign" originating from inside China.Technologyread more
The leaked documents give fresh ammo to conservative lawmakers who have already accused Google and other tech companies of political bias.Technologyread more
Sequoia's Michael Moritz says that direct listings worked for Spotify and Slack and will become more common for companies with "courage and intelligence."Technologyread more
Shares of embattled utility PG&E plummeted after a judge ruled that a jury can decided whether it should pay up to $18 billion in damages.Marketsread more
The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
Since its IPO 15 years ago, Google has become more and more powerful. Today, that power is being highly scrutinized.Technologyread more
In a statement Monday, Barr named Kathleen Hawk Sawyer the new director of the Federal Bureau of Prisons.Politicsread more
Blood testing start-up Theranos has laid off most of its remaining workforce, leaving only two dozen or fewer employees, according to a report from The Wall Street Journal.
Theranos founder and CEO Elizabeth Holmes announced the layoffs at an all-employee meeting at Theranos' offices in California on Tuesday. The layoffs were part of a last-ditch effort to avert or at least delay bankruptcy, sources told the Journal.
News of the recent layoffs comes less than a month after the company settled fraud charges for $500,000.
Holmes was charged with massive fraud in March after raising more than $700 million while deceiving investors. The start-up made it appear as if Theranos has successfully developed a commercially-ready portable blood analyzer. In reality, the technology could only perform a small number of tests advertised.
The company had about 800 employees as recently as 2015. An investigation by The Wall Street Journal exposing Theranos' efforts to mislead investors and the public about its technology led to layoffs bringing the head count down to 125. The most recent layoff brings the head count of the failing company down to two dozen or less.
Theranos did not immediately respond to CNBC's requests for comment.