Chinese officials are expected to be in Washington this week to hold consultations with the U.S. ahead of high-level trade talks in October.World Economyread more
Saudi Arabia's defense spending is the world's third-largest — behind the U.S. and China, says Gary Grappo, former U.S. ambassador to Oman.Energyread more
President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
Former President Bill Clinton had some choice words about the new tax law.
"The law basically is a bullet aimed at New York and California," Clinton told CNBC in an exclusive interview on Tuesday, discussing changes to the tax code.
For those who live in states with high income taxes, including California, Maryland, New Jersey and New York, that's a big hit.
The change means many residents in these states — and others — will now pay more to the federal government. (See chart below.)
The new tax legislation also doubles the standard deduction to nearly $12,000 for individuals and $24,000 for married couples who file jointly, which makes it much harder to claim the benefit for charitable contributions.
How this will affect people's willingness to give remains to be seen, Clinton said.
"They may be less inclined to contribute big money. I think people will still give," Clinton said. As a result, "we may have more crowdfunding."
"Depending on what happens with the elections, there may be some changes to that law," Clinton added, referring to the Tax Cuts and Jobs Act.
The tax cut bill, never broadly popular, has sagged in public esteem lately, an NBC News/Wall Street Journal poll in April found. Just 27 percent of Americans called it a good idea, down from 30 percent in January. A 36 percent plurality called it a bad idea, while the rest had no opinion.
Clinton took part in the 16th annual Commissions for Charity Day organized by trading firm BTIG on Tuesday, along with other politicians, all-star athletes, actors and journalists.
Since 2003, BTIG has raised more than $45 million for charity.
The former president's own Clinton Foundation operates a range of philanthropic projects around the world and has raised billions since its founding but has also been dogged by accusations of influence peddling and conflicts of interests.