The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Some Weight Watchers loyalists applaud Kurbo by WW. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time.Health and Scienceread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
Daniel Povey, a professor who was fired by Johns Hopkins University, said he will no longer go work at Facebook after the company asked him to work as a contractor while it...Technologyread more
Oil prices look to have climbed to unsustainable levels and could soon start to fall away from multi-year highs, BP's chief financial officer (CFO) told CNBC Tuesday.
Crude futures stood within $1 of highs not seen in more than three years on Tuesday morning, amid a broad price recovery which has helped the resurgence of some of the world's largest oil and gas groups in recent quarters.
"Sometimes people forget that actually, it was not that long ago we were down at $28 a barrel … I think oil prices today feel a bit frothy," Brian Gilvary, CFO at BP, told CNBC's "Squawk Box Europe" Tuesday.
He added the recent uptick in crude futures had most likely been driven by elevated global demand and a stronger-than-expected alliance to OPEC-led production cuts.
The price of oil collapsed from highs of almost $120 a barrel in June 2014 due to weak demand, a strong dollar and booming U.S. shale production. OPEC's reluctance to cut output was also seen as a key reason behind the fall. But, the oil cartel soon moved to implement output cuts — along with other oil-producing nations — in late 2016.
Alongside Russia and other allied producers, OPEC has spearheaded an ongoing international effort to try to clear a global supply overhang and prop up prices. The agreement, which came into effect in January 2017, has already been extended through until the end of this year — with producers scheduled to meet in June to review policy.
The output controls have widely been viewed as a success, with several major global producers honing in on achieving their original aim of reducing industrialized oil nations' back to their five-year average.
Nonetheless, analysts have warned the energy market is extremely sensitive to any geopolitical developments, especially regarding the outcome of the Iran nuclear deal and sanctions.
In less than two weeks, President Donald Trump must decide whether to continue suspending sanctions against Iran under the current nuclear accord, or restore penalties on one of the world's biggest oil producers.
"Geopolitics is now playing into where the price is and so I think you could see an oil price correction quite comfortably," BP's Gilvary said.
Global benchmark Brent traded 0.3 percent lower at $74.46 during early morning deals Tuesday, while West Texas Intermediate (WTI) stood at $68.43, down around 0.2 percent.