The Business Roundtable, led by Jamie Dimon, gives a new definition of the "purpose of a corporation."Marketsread more
Stocks rose sharply on Monday as Treasury yields rebounded, quelling fears of a possible recessionUS Marketsread more
Powell will have the opportunity if not to walk back the "midcycle" assessment then to at least provide some further explanation about what it means.Economyread more
Twitter and Facebook have suspended numerous accounts that are believed to be tied to a state-backed information campaign originating from inside China.Technologyread more
Leaked documents from Google give fresh ammo to conservative lawmakers who have already accused Google and other tech companies of political bias.Technologyread more
J.P. Morgan estimates the average annual tariff cost per household will be $1,000 with the new round of Trump's tariffs.Marketsread more
Stasior left Apple earlier this year. Prior to his time in charge of Siri, he was a top executive at Amazon.Technologyread more
Sequoia's Michael Moritz says that direct listings worked for Spotify and Slack and will become more common for companies with "courage and intelligence."Technologyread more
Shares of embattled utility PG&E plummeted after a judge ruled that a jury can decided whether it should pay up to $18 billion in damages.Marketsread more
The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
Since its IPO 15 years ago, Google has become more and more powerful. Today, that power is being highly scrutinized.Technologyread more
Telecommunications equipment maker ZTE fell around 40 percent early in Hong Kong Wednesday trading hours after its shares resumed trade there and in Shenzhen.
In a filing, ZTE said it will pay a $1 billion lump sum payment to the U.S. government as part of a settlement agreement, as well as an additional $400 million in escrow. ZTE will also replace its entire board of directors, as well as the board of subsidiary ZTE Kangxun, and create a compliance committee, the company added.
Existing members of the company's senior leadership, from the senior vice president level and higher, would also be replaced within a period of 30 days from June 8 as part of the agreement.
Shares of ZTE were down 38.05 percent in Hong Kong and 10 percent in Shenzhen at 10:30 a.m. HK/SIN. Trade in the Shenzhen-based company had been halted since April.
The wider was down 0.56 percent and the Shenzhen composite was lower by 0.4 percent.
In the meantime, the ban enforced against ZTE will only be lifted after it satisfies the conditions of the agreement. "The company will resume operating activities ... as soon as practicable," ZTE said in its filing.
— CNBC's Saheli Roy Choudhury contributed to this report.