The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Scientists say the smoke plumes, filled with megatons of tiny, harmful particles, could travel to other areas of the world and cause serious respiratory problems for people.Weather & Natural Disastersread more
Some Weight Watchers loyalists applaud Kurbo by WW. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time.Health and Scienceread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
Economist Larry Summers said Wednesday that Chinese companies’ leadership in some technologies are not the result of theft from the U.S., rebutting the premise behind President Donald Trump’s trade actions against China.
“You ask me where China's technological progress is coming from. It's coming from terrific entrepreneurs who are getting the benefit of huge government investments in basic science. It's coming from an educational system that's privileging excellence, concentrating on science and technology,” said Summers, former Treasury secretary under Bill Clinton and an ex-economic advisor to Barack Obama. “That's where their leadership is coming from, not from taking a stake in some U.S. company.”
Trump has repeatedly said the U.S. needs to take action to make sure Chinese companies are not stealing American intellectual property though forced joint ventures.
The White House said Wednesday the government will rely on the newly strengthened Committee on Foreign Investment in the United States to deal with concerns about intellectual property theft. Reports earlier this week suggested that the administration would look to block companies with 25 percent or more of Chinese ownership from buying certain U.S. tech-related firms.
The Chinese investment measures, unveiled on Wednesday, were less restrictive than proposals floated earlier in the week, giving a big boost to Wall Street where traders and investors were concern about the issue leading to a trade war with China.
"We will have the necessary tools to protect investments, whether it's China or anybody else," Treasury Secretary Steve Mnuchin told CNBC shortly after the announcement. "We are not singling out China, but we will protect technology transfer to China as we will to other important areas."
In response to the Trump administration's move, Summers said in a “Squawk on the Street " interview, "The real approach to maintaining technological leadership is through leading technologically, not through trying to hold China down.”