A quarter of the S&P 500 companies report earnings next week, and that could buffet the market as investors await the July Fed meeting.Market Insiderread more
Iran's Revolutionary Guard claims a British tanker it still holds, Stena Impero, failed to follow international maritime rules.World Newsread more
Amazon hires Trump-allied lobbyist Jeff Miller as battle for Pentagon contract heats up.Politicsread more
In a series of tweets, the president addressed an unusual controversy stemming from a speech delivered Thursday by New York Fed President John Williams.Marketsread more
"You need to understand that we're about to embark on the busiest week of the year for industrial earnings," CNBC's Jim Cramer says.Mad Money with Jim Cramerread more
Boston Federal Reserve President Eric Rosengren is lining up against an apparent push to cut interest rates, telling CNBC in an interview Friday that the central bank can...The Fedread more
The MTA reported that the 1, 2, 3, 4, 5 and 6 trains are all facing delays due to a network communications issue impacting service in both directions, NBC New York reports.Transportationread more
Companies aren't waiting for the U.S.-China trade war to be resolved, says the head of the world's biggest money manager.Investingread more
US officials including Treasury Secretary Steven Mnuchin and White House economic adviser Larry Kudlow will host a meeting at the White House on Monday of semiconductor and...Technologyread more
Trump's constant berating of the Fed and its actions does not influence the central bank's decisions, Boston Fed's Eric Rosengren says.The Fedread more
The lawsuits allege J&J's talc-based baby powder contained asbestos and caused ovarian and other cancers.Health and Scienceread more
Billionaire Li Ka-shing — one of the world's richest men — is set to retire on Thursday ahead of his 90th birthday later this year, capping a career as one of Asia's most storied businessmen and handing the reins of his corporate empire to his son.
Known as Asia's "superman," Li formally stepped down as chairman at the annual shareholders' meeting of CK Hutchison, his conglomerate with interests in real estate, telecommunications, shipping and retail. He was due to leave a similar position at property arm CK Asset Holdings later in the day at its meeting.
The move had been flagged as long ago as 2012 and the date was formally announced in March. It comes as a number of Asia's family-run businesses face leadership transitions.
"It's been a long succession process," Joseph Fan, a professor of accountancy and finance at the Chinese University of Hong Kong, told CNBC's "Squawk Box," adding that it has actually been more than 30 years in the making.
Li plans to stay on as a senior advisor, but his son, Victor Li, 53, will take over. And though the move has been widely telegraphed, analysts were still speculating on how the transition will play out given the size of the businesses.
The conglomerate has more than 300,000 employees in some 50 countries around the world and is a dominant force in Hong Kong, where family-run businesses have led the city's economy for decades.
The elder Li has controlled one of the world's largest operators of container terminals, Hutchison Port, and Asia's biggest health and beauty retailer, Watsons.
Ronald Wan of Partners Financial Holdings said investors want to know where the younger Li will go in terms of investment policy.
"I think (the) market perception on Mr. Li Ka-shing and Mr. Victor Li is basically different," Wan told CNBC's Dan Murphy, adding that investors see the son as more conservative than his father.
"So basically, investors will be cautious to know how he is going to position the future investment policy," he said, adding there is particular interest on whether it will move more toward globalization and away from mainland China.
The retiring Li, who rose from poverty in southern China's Guangdong province, started his rise by establishing a plastics company in 1950, which eventually listed on Hong Kong's stock exchange in 1972.
His businesses were consolidated in 2015 into CK Hutchison for non-property ventures and CK Asset Holdings for property.
Analysts were also paying attention to what kind of management personnel the younger Li will favor, with Fan saying the next five years will be important as he "gradually introduces a younger generation of professional managers."
Fan called the transition "critically important," stressing that the continued presence of an older generation of managers was also crucial.
"That will help ensure the smooth transition from the previous to the next generation of professional management that is very, very important to the success of Victor Li," he said.