The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
Any loans to Iran or engagement by the international community is "appeasement," the minister claimed.World Politicsread more
CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are underappreciated.Marketsread more
Shares of MasterCard are up 46% this year, and 1120% since 2011, getting a boost from the strong U.S. consumer.Investingread more
Trade with China is the 'big unknown' for the Federal Reserve as it decides how best to support the U.S. economy, says Council on Foreign Relations Director of International...Futures Nowread more
Lobbying experts said the visit is likely an attempt to be in lawmakers' ears as they consider legislation that would impact Facebook.Technologyread more
Yardeni Research's Edward Yardeni believes the U.S. economy is picking up steam.Trading Nationread more
Iran's audacious drone and cruise missile attack on Saudi Arabia's oil producing facilities has provided a critical test yet for the Trump administration's foreign policy. A...Politicsread more
Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
Apple is building up its music business with an acquisition of a small tech startup that helps discover and develop emerging musical artists.
Apple confirmed to CNBC it purchased Platoon, a company that helps independent artists fund, distribute, and market their content. The news was first reported by Music Business Worldwide. The terms of the deal were not disclosed. Platoon had about a dozen employees.
The deal could help Apple find and develop exclusive artists for Apple Music, helping it stand apart from competitor Spotify. The company is depending on growth in subscription services like Apple Music to offset flattening iPhone sales.
Unsigned artists may find it expensive to buy studio time and have access to music editing software. Many don't have the range of social media tools and access to data to get their music in front of audiences effectively. Platoon finds artists it believes will make it big, gets them on its service, funds them, and helps them get discovered by the public and bigger labels. In effect, it's like an indie music label.
Some of acts that have worked with Platoon include Billie Eilish, Stefflon Don, Mr. Eazi and YEBBA.
The company was founded by former Skype executive Saul Klein, who also co-founded LoveFilm, and Denzyl Feigelson. Feigelson is a former music talent manager who founded direct-to-consumer record sales company Artists Without A Label, which focuses on selling music from independent artists. He also has worked with Apple on music projects in the past, including the iTunes Festival.
Apple's largest acquisition-to-date was in the music space. It acquired Beats Electronics for $3 billion in May 2014.