The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are underappreciated.Marketsread more
Shares of MasterCard are up 46% this year, and 1120% since 2011, getting a boost from the strong U.S. consumer.Investingread more
Trade with China is the 'big unknown' for the Federal Reserve as it decides how best to support the U.S. economy, says Council on Foreign Relations Director of International...Futures Nowread more
Lobbying experts said the visit is likely an attempt to be in lawmakers' ears as they consider legislation that would impact Facebook.Technologyread more
Yardeni Research's Edward Yardeni believes the U.S. economy is picking up steam.Trading Nationread more
Iran's audacious drone and cruise missile attack on Saudi Arabia's oil producing facilities has provided a critical test yet for the Trump administration's foreign policy. A...Politicsread more
Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
Airline fuel is overpriced, and the underlying cost of oil should sit around $52 per barrel, Tim Clark, President of Emirates told CNBC Friday.
"I am one of these people that says it is hugely overpriced. If you are at $77 or $83 dollars (per barrel) it should be at $52. That's where it needs to be," Clark said in an interview with CNBC's Joumanna Bercetche on the side-lines of The Aviation Festival in London.
"Those people, those countries, those entities that say they can't make money on $52, they need to be doing something else," he added.
Clark added that as spot prices for oil were now roughly matching the futures price, the market had sensed the oil price was unlikely to rise further from this point.
"I think fuel is now capped out. The forward curve is flat," he said before adding "There's a certain amount of flakiness going forward that fuel will rise above where it is today. That's my view," Clark said.
Emirates, which employs approximately 25,000 cabin crew staff around the world, has seen growth hampered by a prolonged period of lower oil prices in recent years — a key driver of wealth in the Gulf region.
Clark said fuel prices for his airline were now running at roughly 44 percent higher than the same time last year. However, he warned however that many oil producers weren't exhibiting a traditional response to a higher price.
"As the oil producing countries, largely in the Middle East get a benefit of that, historically there was an uptick very rapidly in demand, but we are not seeing that," Clark said.
He added that many emerging markets and Middle East countries were struggling to match the performance of the United States and global growth looked uncertain.
"One has got to worry a little bit about what is driving all of this. Whether it is an inordinate amount of debt creation and that is likely to take its toll. We saw that ten years ago," he said.
On Wednesday Federal health authorities and local police quarantined an Emirates Airline jumbo jet Wednesday morning in New York after several passengers said they were ill.
Flight 203 arrived in New York with around 100 travelers and flight staff complaining of cough, fever and "symptoms of gastrointestinal illness," according to the U.S. Centers for Disease Control and Prevention. 11 people were then taken to hospital as an additional precaution.
Clark told CNBC that no source for the sudden outbreak of sickness had been found as yet, but he expected to discover the root of the problem "within a week."
The Emirates president added that he didn't expect to lose custom over the incident before adding that the airline was an extremely safe organization that "prides ourselves on health and safety."