Stocks rose on Tuesday as investors bet the Federal Reserve will set the stage for more accommodative monetary policy at this week's meeting.US Marketsread more
President Donald Trump on Tuesday said that he and Chinese President Xi Jinping "will be having an extended meeting next week at the G-20 in Japan."Politicsread more
The yield on the benchmark 10-year Treasury note fell to its lowest level since September 2017 as the Fed began its two-day policy meeting.Bondsread more
The move is part of a larger trend that saw the survey's 179 participants move away from risk and toward positions that reflect fear of a coming economic slowdown spurred by a...Marketsread more
Shares of Beyond Meat soared 18% in premarket trading Tuesday, surpassing $200 per share.Food & Beverageread more
Investors bracing themselves for lower Federal Reserve rates should think about loading up on health care stocks, history shows.Marketsread more
Trump went after Draghi for opening the door for more monetary stimulus in Europe, which would weaken the euro relative to the dollar.Marketsread more
Private equity billionaire David Rubenstein says he's spoken with U.S. and Chinese officials. "My view is both sides want a deal."Economyread more
The yoga-pants retailer is now selling such personal-care products as face moisturizer, dry shampoo, deodorant and lip balm.Retailread more
Hershey CEO Michele Buck said that the 125-year-old company is monitoring the trend but doesn't have any plans to add CBD to its food just yet.Food & Beverageread more
Netflix clarified the premise of its "Prank Encounters" show starring "Stranger Things" actor Gaten Matarazzo after massive internet backlash. The company said all...Entertainmentread more
WASHINGTON — A new Russian nuclear-powered submarine fleet, capable of launching intercontinental ballistic missiles outfitted with hypersonic weapons, will be ready for war by 2024, according to a person with firsthand knowledge of a U.S. intelligence report.
In order to finance eight of the submarines, Moscow cut funding for other military modernization programs like the nation's surface vessel fleet, according to the person, who spoke to CNBC on the condition of anonymity.
The Borei II submarine, also designated Borei-A, is a fourth-generation nuclear-powered ballistic missile submarine that is slated to join the Russian Navy's Northern and Pacific Fleets. The U.S. Navy, by comparison, boasts one of the largest submarine fleets in the world with 14 Ohio-class vessels tasked with the nuclear deterrence mission.
The Borei II, which is the first class of submarines developed by Russia since the Cold War, can launch 20 Bulava intercontinental ballistic missiles. Each Bulava can carry a bomb yielding 100 to 150 kilotons, which is approximately 10 times more powerful than the Little Boy atomic bomb dropped on Hiroshima.
What's more, unlike a traditional missile which carries one warhead, the Bulava missile is capable of carrying up to 10 nuclear and hypersonic weapons on its tip. That means one Borei II submarine could potentially launch 200 hypersonic weapons, a threat the U.S. is currently unable to defend against.
A hypersonic weapon can travel at Mach 5 or higher, which is at least five times faster than the speed of sound. This means that a hypersonic threat can travel about one mile per second.
The latest revelations come a little more than six months after Russian President Vladimir Putin touted his nation's growing hypersonic arsenal as "invincible." Inevitably, Moscow's sprint to field this new bred of weapon has sparked fears over a budding arms race.
"I want to tell all those who have fueled the arms race over the last 15 years, sought to win unilateral advantages over Russia, introduced unlawful sanctions aimed to contain our country's development: You have failed to contain Russia," Putin said during his March national address.
Of the six weapons Putin debuted in March, CNBC has learned that two of them will be ready for war by 2020, according to sources with direct knowledge of U.S. intelligence reports.
At the moment, the U.S. must rely on deterrence against hypersonic weapons, according to the top nuclear commander in the American military.
"We don't have any defense that could deny the employment of such a weapon against us," Air Force Gen. John Hyten, commander of U.S. Strategic Command, told the Senate Armed Services Committee in March, following Putin's comments.
With CNBC in the U.S., CNBC in Asia Pacific, CNBC in Europe, Middle East and Africa, and CNBC World, CNBC is the recognized world leader in business news and provides real-time financial market coverage and business information 410 million homes worldwide, including more than 90 million households in the United States and Canada. CNBC also provides daily business updates to 400 million households across China. The network's 15 live hours a day of business programming in North America (weekdays from 4:00 a.m. - 7:00 p.m. ET) is produced at CNBC's global headquarters in Englewood Cliffs, N.J., and includes reports from CNBC News bureaus worldwide. CNBC at night features a mix of new reality programming, CNBC's highly successful series produced exclusively for CNBC and a number of distinctive in-house documentaries.
CNBC Digital delivers more than 52 million multi-platform unique visitors each month. CNBC.com provides real-time financial market news and information to CNBC's investor audience. CNBC Make It is a digital destination focused on making you smarter about how you earn, save and spend your money by zeroing in on careers, leadership, entrepreneurship and personal finance.
CNBC has a vast portfolio of digital products, offering CNBC content to a variety of platforms such as: CNBC.com; CNBC PRO, a premium service that provides in-depth access to Wall Street; a suite of CNBC mobile apps for iOS and Android devices; Amazon Alexa, Google Assistant and Apple Siri voice interfaces; and streaming services including Apple TV, Roku, Amazon Fire TV, Android TV and Samsung Smart TVs. To learn more, visit https://www.cnbc.com/digital-products/.
Members of the media can receive more information about CNBC and its programming on the NBCUniversal Media Village Web site at http://www.nbcumv.com/programming/cnbc. For more information about NBCUniversal, please visit http://www.NBCUniversal.com.