In a closed-door meeting at a Manhattan mansion, executives outlined changes to controversial software that was implicated in two crashes.Aerospace & Defenseread more
Current and former Tesla employees working in the company's open-air "tent" factory say they felt pressure to take shortcuts to hit aggressive Model 3 production goals,...Technologyread more
Amazon workers in Minnesota and Germany are striking as Prime Day kicks off, in a stand against working conditions and wage practices. The action in Minnesota represents the...Retailread more
Treasury Secretary Steven Mnuchin is raising red flags ahead of Facebook's proposed cryptocurrency launch.Marketsread more
Epstein is accused of sexually exploiting dozens of underage girls from 2002 through 2005 at his New York and Florida residences. He is a former friend of Presidents Donald...Politicsread more
When you think of Prime Day, you might be thinking about deals on Instant Pots and Amazon Echo devices — not half-off dresses and designer heels. But the market for apparel...Retailread more
David Marcus, the head of Facebook's digital currency project, said the company expects Libra will drive more advertising revenue for the company.Technologyread more
Some White House officials expect the Cabinet secretary, who has known the president for years, to depart as soon as this summer.Politicsread more
"The important thing is that you shouldn't try to hit homeruns this week, because you're much more likely to end up striking out," Jim Cramer says.Mad Money with Jim Cramerread more
Reps. Ilhan Omar, Ayanna Pressley, Alexandria Ocasio-Cortez and Rashida Tlaib said Trump challenged them personally because he was not able to defeat them on the policy level.Politicsread more
A financial disclosure made by lawyers for Jeffrey Epstein, a former friend of presidents Donald Trump and Bill Clinton, reveals he has nearly $560 million in assets.Politicsread more
DP World's chairman and CEO has told CNBC that he is looking at all options after a ruling by the London Court of International Arbitration (LCIA) found that its operating contract for a port container terminal in Djibouti was "valid and binding."
The Djibouti government wrested control of the Doraleh Container Terminal from the Dubai-based firm in February. Djibouti officials have long wanted to renegotiate the terms for the port's operating contract that DP World has held since 2006.
Sultan Ahmed Bin Sulayem, DP World chairman & CEO, told CNBC's Willem Marx that the LCIA's ruling was expected.
"What they (Djibouti government) did was illegal and we needed just the legal authority to say that," he said over the phone on Thursday.
Bin Sulayem said the legal ruling meant that all options are open to his company and he would now meet with advisers before proceeding with steps to reach compensation.
Djibouti Ports and Free Zone Authority (DPFZA) said in March it was willing to buy out DP World's 33 percent stake in the container terminal, but Bin Sulayem said no contact or discussion over any sale had ever been made.
He said he would now seek continued arbitration between the two parties to reconfirm rights, to validate the contract, and to "expose illegal activities of Djibouti."
Bin Sulayem added that it was a worrying development for capital making its way to the African continent.
"I can tell you it is putting a shadow on investment in Africa and it is making such investment more expensive. We continue to invest but I'm sure others are looking at this as an example," he said.
The Doraleh Container Terminal is the largest employer in Djibouti. The country is small but attracts investment because of its strategic location where the Red Sea meets the Gulf of Aden.
DP World has a number of investments in East Africa, including one in Berbera, Somaliland. The region's self-proclaimed independence remains unrecognized by any country or international organization.
However, Bin Sulayem told CNBC that he had no issue in investing with the autonomous government in Somaliland and there was no need to go through the official Somali government.
"The argument between Somaliland and Somalia clearly recognizes that the economic activity in the region belongs to Somaliland. What we have done is within the law."