These box office numbers do not include the cost of production or marketing costs. They also don't count the billions in merchandising that Disney has made over the last...Entertainmentread more
Instagram began tests that hide "like" counts on posts. That means influencers who market products on Instagram will have to rely on different metrics to show success.Technologyread more
Peter Neupert worked for Microsoft and Amazon-backed Drugstore.com, where he got to know Jeff Bezos. He now advises start-ups.Technologyread more
Last week shows that oil prices are not the indicator for Middle East tensions they once were, and worries about global demand and growing U.S. production has changed that...Market Insiderread more
Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female corporate-development...Technologyread more
The firing of the tear gas was the latest confrontation between police and protesters who have taken to the streets for over a month to fight a proposed extradition bill and...China Politicsread more
Amazon's new policy for account suspensions doesn't go far enough to protect sellers from potentially unfair and wrongful suspensions, merchants say.Technologyread more
There is no end in sight to the Boeing 737 Max grounding after two fatal crashes, prompting airlines to rethink their growth plans.Airlinesread more
After a year of flooding, Midwest farmers face a stifling heat wave that's spreading across the U.S.Weather & Natural Disastersread more
Gluskin Sheff's David Rosenberg is painting a painful picture for stocks as earnings season goes into full gear.Futures Nowread more
Rossello is facing public furor over an obscenity-laced online chat that showed the governor and his close advisers insulting women and mocking constituents, including victims...Politicsread more
DowDuPont's highly anticipated split into three companies, set to occur in 2019, will generate nearly $1 billion in research and development funding, DowDuPont chief Ed Breen told CNBC on Thursday.
"The beauty of redoing the portfolio — and I'll use DuPont as the example — [is] we're going to spend almost $1 billion on R&D per year, so it's at a rate that's very healthy compared to the competitive peer set," Breen told Jim Cramer in an interview.
DuPont, where Breen will stay on as a full-time executive chairman, will become a standalone specialty company focused in various secular markets including transportation, electronics and nutrition.
"What happened is you're bringing R&D in from the Dow businesses that came in and the DuPont [businesses]," Breen said on "Mad Money." "You're bringing that R&D into the same end market opportunities, like in nutrition and health. We both had nutrition and health companies, and now you're bringing double the R&D to bear on that industry."
Breen, who is known for successfully engineering a decade-long, five-way split of former monolith Tyco, said that DuPont represents the "fast-growth" portion of the spin-off involved in "secular growth" areas of the market.
"That's where we put our science and research. So for instance, in the auto industry, we're the ones electrifying the cars, which is the wave. We're also the company lightweighting vehicles, which is a huge trend that's going to continue," he said.
He added that these end markets explain how DuPont's business grew 10 percent in a period of declining auto sales.
"You've got to be in the right secular areas and that's where we are really diverting our R&D and innovation machine so we're in the high, fast-growth areas over the next five to 10 years," the CEO said.
Breen added that DowDuPont's three-way split would bring "three world-leading companies in their respective industries" to the market. He said they would be "shareholder-friendly" when it came to dividends, and forecast share buybacks at all three entities "as soon as" the split is completed.
DowDuPont's stock slid 0.65 percent in Thursday's trading session, settling at $59.44 a share. The stock dipped slightly in extended trading.