The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Scientists say the smoke plumes, filled with megatons of tiny, harmful particles, could travel to other areas of the world and cause serious respiratory problems for people.Weather & Natural Disastersread more
Some Weight Watchers loyalists applaud Kurbo by WW. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time.Health and Scienceread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
Leaving the European Union without a transitional trade deal would cost Britain about 6 percent of GDP -- roughly four years of economic growth -- compared with staying in the bloc, the International Monetary Fund said on Wednesday.
The IMF, which warned of the costs of Brexit before Britons voted to leave in June 2016, said securing a trade deal would roughly halve the economic damage from trade barriers and reduced foreign investment and immigration.
"Directors emphasized the importance of a timely agreement with the EU, accompanied by an implementation period to avoid a cliff-edge exit in March 2019 and to allow firms and workers time to adjust to the new relationship," the IMF said.
Two months ago, IMF managing director Christine Lagarde said she expected the world's fifth-biggest economy would shrink outright if it left the EU without a deal.
The IMF's estimates -- part of a regular review of Britain's economy -- come as Prime Minister Theresa May is attempting to secure her top ministers' agreement to a transitional deal, which will then need approval by parliament and the EU.
Some supporters of Brexit have argued that Britain would be better off leaving without any deal with Brussels if they cannot secure their full demands, trading instead under World Trade Organization rules.
The IMF forecast this would carry a cost. "In a scenario in which the UK and EU trade under World Trade Organization rules the level of output is likely to fall by between about 5 and 8 percent relative to a no-Brexit scenario, with an average of about 6 percent," the IMF said.
Britain's economy has slowed since the Brexit vote. Its annual growth rate fell from the top of the G7 group of nations to near the bottom, as businesses put investment on hold and higher inflation reduced households' disposable income.
Some euroskeptics in May's Conservative Party say a "no-deal" Brexit would allow Britain to reach trade deals with third countries more easily and determine its own regulations.
But May favors a transitional arrangement that she hopes will preserve free trade in goods, though not services, while placing controls on immigration from the EU.
The IMF said this type of free trade agreement would reduce British GDP by around 2.5 to 4 percent -- probably about 3 percent -- over an unspecified long-term period, compared with staying in the EU. May has ruled out staying in.
Before the referendum, the IMF estimated Brexit would have a short-run cost of between 1.4 percent and 5.6 percent of GDP, depending on the terms of departure.
The effect of Brexit would vary widely between industries, the IMF said.
Britain's financial services, chemicals and automotive industries were likely to suffer most from new regulatory barriers and disrupted supply chains. By contrast, farms, food processors and oil and mining companies might do better.
Government programs would be needed to retrain British workers for these jobs, the IMF added.