As part of the plan, Amazon has agreed to purchase 100,000 electric delivery vans from vehicle manufacturer Rivian.Technologyread more
Vice President Pence's sit-down with CNBC's Joe Kernen comes as President Donald Trump's White House navigates a forest of thorny political issues.Delivering Alpharead more
The plan will allow Medicare to negotiate lower prices on as many as 250 drugs and apply those discounts to private health plans.Health and Scienceread more
President Donald Trump on Thursday filed a lawsuit against Manhattan District Attorney Cyrus Vance Jr. and his longtime accounting firm Mazars.Politicsread more
Hedge fund titan Leon Cooperman said he's concerned about a shift to the left in the political landscape, which could harm the economy and the stock market.Delivering Alpharead more
More than half of the patients have been younger than 25 and 16% are younger than 18, CDC principal deputy director Anne Schuchat said.Health and Scienceread more
The Democratic-held House plans to move forward with a bill to fund the government through Nov. 21 and avoid another government shutdown.Politicsread more
Jim Chanos, founder of Kynikos Associates, revealed Thursday a stock he has been shorting for years: kidney dialysis company DaVita.Delivering Alpharead more
GM's usage of temporary workers, potential closure of plants and health care contributions remain major sticking points, according to people familiar with the talks.Autosread more
The Federal Reserve has calmed the overnight funding market and brought its fed funds rate back in line with its target.Market Insiderread more
Rising fuel costs and the threat of a trade war will not affect Cathay Pacific's plan to turn in a profit in 2019, Chief Executive Rupert Hogg said on Monday as the airline seeks to recover from two straight years of losses.
The flag carrier of Hong Kong is currently in the midst of a three-year turnaround plan to keep costs low and improve revenue. That should help the airline to compete better and return to profitability next year, Hogg said.
"I'm not going to make any forecast about our future but that's our target and at the moment, we are on track to do that," he told CNBC's Matthew Taylor at the IATA Annual General Meeting in Sydney.
The recent rise in oil prices and growing trade protectionism globally, which are typically bad news for the airline industry, have not threatened the company's strategy, the CEO said.
He explained that the airline has not been impacted in a big way by the higher oil prices because of its many young aircrafts. At an average age of 5.5 years old, Cathay's planes don't consume as much fuel as their older counterparts, he added.
"What that means in sum is that, although the price of fuel is rising, our consumption is not growing as fast as the units of production we are putting into the air," he said.
In light of the heightened rhetoric coming from the U.S. and China, Hogg acknowledged that a trade war could hurt the company's cargo business. But, he said he hasn't seen any dip in business volume so far.
"A trade war would be bad for us. But, having said that, what we carry is consumer electronics," he said, adding that those products are "what people want to buy" and may not be as heavily affected by trade restrictions around the world.
"And so far, we haven't seen any let up in volume. So I think the bigger sort of tariff disputes that headline some of the aluminum and other things probably won't affect air freighter in that way," Hogg added.