Stocks rose sharply on Monday as Treasury yields rebounded, quelling fears of a possible recessionUS Marketsread more
The Business Roundtable, a group of CEOs of nearly 200 major U.S. corporations, gave a new definition of the "purpose of a corporation."Marketsread more
J.P. Morgan estimates the average annual tariff cost per household will be $1,000 with the new round of Trump's tariffs.Marketsread more
J.P. Morgan says investors should remain guarded for the rest of August and wait until next month before buying stocks again.Marketsread more
The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
The conglomerate's head of investor relations released a more detailed statement about accounting practices under fire from Harry Markopolos.Marketsread more
Goldman notes that high-dividend payers are trading at their largest valuation discount in nearly 40 years.Marketsread more
Amazon is raising seller fees for thousands of small and medium-sized businesses in France because of a new digital tax passed by the French government.Technologyread more
U.S. Commerce Secretary Wilbur Ross said the U.S. will extend a reprieve given to Huawei that permits the Chinese firm to buy supplies from U.S. companies.Politicsread more
Amid the headlines of stores closures and retail bankruptcies, it can be tough to accept that the U.S. consumer is doing just fine.Retailread more
We tested the best way to cut the airport commute time for New Yorkers. The most expensive of the four options we reviewed, Uber Copter, was only 14 minutes faster than mass...Transportationread more
The architect of Tony Blair's Labour government and former European trade commissioner has told CNBC that the only Brexit plan agreed with Europe cannot succeed.
Current U.K. leader Theresa May has agreed terms of withdrawal with the European Union (EU) as well as an outline of what the future relationship between the trading bloc and Britain will look like. Her draft deal will now be debated before a parliamentary vote set to take place on December 11.
The former lead strategist of Blair's government, Peter Mandelson, told CNBC's Geoff Cutmore on Wednesday that lawmakers had already flagged that May's plan is doomed to fail.
"I think votes in the House of Commons have clearly indicated that May is heading for a serious defeat next Tuesday," said Mandelson who now acts as chairman of Global Counsel.
May's team suffered a brutal day in the Commons on Tuesday, losing a major defeat on what happens if lawmakers do reject the plan provisionally agreed with Europe. On the same day, and for the first time in history, the government was also found to be in contempt of parliament for failing to release full legal advice related to Brexit.
As a result, pound sterling fell below the $1.27 mark for the first time since the end of October.
Mandelson, who acted as the European Commissioner for Trade between 2004 and 2008, described May's deal as "rotten" and said the U.K. government had failed to be honest with British people about the realism of leaving Europe.
"What we have discovered is that Britain cannot leave and secure trade with Europe, and take control of borders, money and law."
Further damning the efforts of May's team, Mandelson added that the British government's "stunning naivety" in negotiations with Europe had triggered opposition from U.K. lawmakers on either side of the Brexit divide.
"They always pretended we could have our cake and eat it. It was always a nonsense from beginning," he said.
Brexit fear appears to be taking its toll on activity in the U.K.'s crucial services sector.
Data released Wednesday unveiled an unexpected deterioration as the Markit services PMI figure dropped to 50.4 for November. That is the weakest reading since July 2016, immediately after the Brexit vote.
"A sharp deterioration in service sector growth leaves the economy flat-lining in November as Brexit concerns intensified," Chris Williamson, IHS Markit's chief economist, said in an accompanying statement.
Markit has estimated that their data are consistent with a 0.1 percent expansion of U.K. GDP (gross domestic product) during the fourth quarter.