In a closed-door meeting at a Manhattan mansion, executives outlined changes to controversial software that was implicated in two crashes.Aerospace & Defenseread more
Current and former Tesla employees working in the company's open-air "tent" factory say they felt pressure to take shortcuts to hit aggressive Model 3 production goals,...Technologyread more
Amazon workers in Minnesota and Germany are striking as Prime Day kicks off, in a stand against working conditions and wage practices. The action in Minnesota represents the...Retailread more
Treasury Secretary Steven Mnuchin is raising red flags ahead of Facebook's proposed cryptocurrency launch.Marketsread more
Epstein is accused of sexually exploiting dozens of underage girls from 2002 through 2005 at his New York and Florida residences. He is a former friend of Presidents Donald...Politicsread more
When you think of Prime Day, you might be thinking about deals on Instant Pots and Amazon Echo devices — not half-off dresses and designer heels. But the market for apparel...Retailread more
David Marcus, the head of Facebook's digital currency project, said the company expects Libra will drive more advertising revenue for the company.Technologyread more
Some White House officials expect the Cabinet secretary, who has known the president for years, to depart as soon as this summer.Politicsread more
"The important thing is that you shouldn't try to hit homeruns this week, because you're much more likely to end up striking out," Jim Cramer says.Mad Money with Jim Cramerread more
Reps. Ilhan Omar, Ayanna Pressley, Alexandria Ocasio-Cortez and Rashida Tlaib said Trump challenged them personally because he was not able to defeat them on the policy level.Politicsread more
A financial disclosure made by lawyers for Jeffrey Epstein, a former friend of presidents Donald Trump and Bill Clinton, reveals he has nearly $560 million in assets.Politicsread more
ValueAct Capital Partners has built a $1.2 billion stake in Citigroup in a wager that the U.S. bank's businesses serving corporations will help it rebound.
ValueAct has built the position over the past four to five months and is growing its stake opportunistically, The Wall Street Journal reported Monday, citing a letter to investors. The stake equals about .07 percent of the U.S. bank, according to the Journal.
The wager on Citigroup, led by CEO Michael Corbat, is partially based on its treasury services business, according to the Journal. ValueAct isn't calling for a strategic shakeup, the report said.
That move echoes a 2016 investment by ValueAct in shares of Morgan Stanley, another bank on the rebound after the financial crisis.
"We have been having constructive conversations with ValueAct and welcome them as investors,'' Mark Costiglio, a spokesman for New York-based Citigroup, said in a statement sent to CNBC.
Shares of Citi were up 1.6 percent after hours after closing up 0.8 percent on Monday.