Iran's Revolutionary Guard said the British tanker, 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
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
More than a quarter of the S&P 500 companies report earnings in the week ahead, and that could buffet the market as investors await the Fed's meeting at the end of the month.Market Insiderread 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
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
Executives from United Airlines and American Airlines were "shocked" that state-owned airline Qatar Airways CEO Akbar Al Baker was also invited to the meeting, according to a...Airlinesread more
J.C. Penney on Friday afternoon issued a statement responding to a report that the embattled department store chain had hired advisers to explore debt restructuring options,...Retailread more
Earlier this week, a lawyer said Jeffrey Epstein, a former friend of Presidents Donald Trump and Bill Clinton, had "improper sexual contact" with at least one woman under the...Politicsread more
Walmart is making further organizational changes as it continues to integrate its store and digital operations and leadership, according to a memo obtained by CNBC that was...Retailread more
Russian President Vladimir Putin bragged earlier this year that his country had a new nuclear-powered missile with unlimited range — but it has yet to perform a successful test over multiple attempts, according to sources with direct knowledge of a U.S. intelligence report on the weapons program.
The cruise missile was tested four times between November and February, each resulting in a crash, according to sources who spoke to CNBC on the condition of anonymity.
The U.S. assessed that the longest test flight lasted just more than two minutes, with the missile flying 22 miles before losing control and crashing. The shortest test lasted four seconds and flew for five miles.
One report, according to the sources, did not mention health or environmental risks posed by damages to the missile's nuclear reactor.
The weapon, which has been in development since the early 2000s, is believed to use a gasoline-powered engine for takeoff before switching to a nuclear-powered one for flight, sources explained to CNBC.
The tests apparently showed that the nuclear-powered heart of the cruise missile failed to initiate and, therefore, the weapon was unable to achieve the indefinite flight Putin had boasted about.
Sources said that the tests were ordered by senior Kremlin officials despite objections from the program's engineers, who voiced concerns that the system was still in its infancy.
During a state of the nation address in March, Putin claimed the cruise missile was capable of delivering a warhead to any point in the world while evading missile defense systems. In the same two-hour speech, Putin touted an arsenal of new hypersonic weapons which he called "invincible."
A week ago, CNBC learned the hypersonic glide vehicle, a weapon the U.S. currently is unable to defend against, will be ready for war by 2020.
The sources, who spoke to CNBC on the condition of anonymity, said Russia successfully tested the weapon, which could carry a nuclear warhead, twice in 2016. The third known test of the device was carried out in October 2017 and resulted in a failure when the platform crashed seconds before striking its target.
The Russians are expected to conduct a fourth test sometime this summer.