Pelosi also said it's "irrelevant" whether approving the USMCA trade deal would give President Donald Trump a victory ahead of the 2020 election.Politicsread more
Brent crude oil jumped the most in history in the previous session after attacks on Saudi's oil industry disrupted the kingdom's production.Marketsread more
General Motors stands to lose hundreds of millions of dollars in lost production as a United Auto Workers union strike against the automaker enters its second day, but Wall...Autosread more
Damage to the top OPEC producer's oil facilities ignited fears of supply disruption around the world and has sent crude prices soaring.Energyread more
The second-largest investor in Kraft Heinz Company discloses that it has again trimmed its stake in the food company.Marketsread more
"That leads the developed world to say to China: 'We've got to rebalance this. It's working for you. It's not working for us,'" says the billionaire Blackstone co-founder.Economyread more
Microsoft founder Bill Gates takes an aggressive approach to investing, despite being the second richest person in the world.Wealthread more
These are the stocks posting the largest moves in midday trading.Market Insiderread more
Viacom chief executive officer Bob Bakish is not worried about competition in the streaming space, on the heels of its merger with CBS.The Faber Reportread more
Consumers could pay an average 15 to 20 cents more per gallon for unleaded gas by the end of the month following the attack on Saudi oil installations.Market Insiderread more
Bob Bakish, the head of a newly combined CBS and Viacom, said he was "disappointed" by both stocks' reaction to the recent deal.The Faber Reportread more
Saudi Arabia's energy minister has spoken of the possibility of OPEC oil producers and their non-OPEC partners not reaching a deal over whether to cut oil production this week.
Asked how real the risk a "no deal" scenario at the meeting on Thursday, which comes amid another slump in oil prices, Saudi Energy Minister Khalid al-Falih told CNBC's Hadley Gamble: "It's real."
Oil prices dropped 4.7 percent Thursday after Al-Falih signaled that the 15-member oil producing group could cut less than expected. Al-Falih said earlier that a cut of 1 million barrels per day would be enough for OPEC and its allied oil producers. Markets had factored in a cut of around 1.2 million to 1.4 million barrels per day.
As OPEC's de-facto leader, Saudi Arabia is under pressure to take a lead on stabilizing oil markets but it looked somewhat isolated at the Thursday meeting with non-OPEC partner Russia looking reluctant to agree to a cut. Iran's oil minister also told CNBC that Iran, which is already laboring under U.S. sanctions, will not cut anything.
"We will not cut anything because of the sanctions," Iranian Oil Minister Bijan Zanganeh told CNBC Thursday.
"During the sanction period of time we are not ready to cut our production, but Iran supports any decision made by OPEC members to manage the market, but during the period of sanctions it's not fair (that we) reduce more," he added.