Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
The lack of clarity surrounding the U.S.-China trade war is what's really hitting global growth, says ex- Deputy Treasury Secretary Sarah Bloom Raskin.World Economyread more
China's economy has long relied on factors such high levels of investments and an expanding labor force for growth. Those growth drivers are running out of steam.China Economyread more
India could benefit from the fallout in the U.S.-China trade war, experts told CNBC — but much-needed reforms on land and labor could prove to be a challenge for companies...Asia Economyread more
New crash tests show the Tesla Model 3 and the Audi e-tron, are among the safest models out on the road. The results bolster the theory electric vehicles may be better...Autosread more
U.S. consumers and growth in sectors such as technology have offset declines in other American industries, says Tom Finke, chairman and CEO of investment management firm...US Economyread more
The FAA administrator's comments come on the eve of his visit to Boeing facilities outside Seattle. While there, he's scheduled to meet with Boeing executives and be briefed...Airlinesread more
Last weekend's attacks on oil facilities — and the spike in crude prices that followed — should show that the world needs to stop relying on oil, says Helen Clark.Energyread more
The photo depicts Canadian leader Justin Trudeau wearing a turban and robe, with dark makeup on his hands, face and neck. Liberal Party spokesman confirms the photo is of...Electionsread more
As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread more
CBS, CNN and other major media companies are starting to pull e-cigarette advertising off their airways, as the death toll from a mysterious vaping-related illness continues...Health and Scienceread more
Elon Musk could have saved himself some trouble by taking Tesla private, according to early investor and prominent Silicon Valley venture capitalist Tim Draper.
In an interview with CNBC at the Web Summit conference in Lisbon on Tuesday, Draper said Elon Musk made a "human" mistake when he tweeted he had secured funding to take Tesla private in August. The Securities and Exchange Commission (SEC) charged Musk with misleading investors, ultimately costing the company $20 million in settlement fees and Musk his title as Tesla chairman.
"Every human in the world has made a mistake and there are so many laws that you have to follow if you're a public company," Draper said. "He probably should have just taken the whole thing private."
Draper said investors need to be more sympathetic toward Musk, who is leading two "amazing" multi-billion dollar firms, Tesla and SpaceX. Draper, who founded VC firms Draper Associates and DFJ, was an early investor in both of Musk's companies.
"We have to sort of say, hey look, he's a human being, he's doing the best he can," Draper said.
Musk released a blog post at the end of August saying Tesla would remain a publicly traded company, citing resistance from shareholders. Tesla shares have been in upheaval since August, dropping to a 52-week low in early October then rebounding following a stellar third-quarter earnings report. Some analysts have cited Musk's erratic behavior as a concern for the stock.
"This guy's awesome," Draper countered. "Let's do what we can to support him."
Draper has previously defended other embattled tech CEOs like Facebook's Mark Zuckerberg and Theranos' Elizabeth Holmes. He said products like Tesla are unparalleled in the market and "we are so lucky" to have the creations of entrepreneurs like Musk.
"These guys have really transformed the world and we should just thank them everywhere we go," he said.
Draper is also an outspoken bitcoin enthusiast who has profited heavily from an investment in 30,000 bitcoins in 2014. He remains bullish on bitcoin and the potential for cryptocurrencies to transform economies around the world.
"Bitcoin is the future of money," he said.