Amazon workers in Minnesota and Germany are striking as Prime Day kicks off, in a stand against working conditions and wage practices. The action in Minnesota represents the...Retailread more
Treasury Secretary Steven Mnuchin is raising red flags ahead of Facebook's proposed cryptocurrency launch.Marketsread more
Epstein is accused of sexually exploiting dozens of underage girls from 2002 through 2005 at his New York and Florida residences. He is a former friend of Presidents Donald...Politicsread more
When you think of Prime Day, you might be thinking about deals on Instant Pots and Amazon Echo devices — not half-off dresses and designer heels. But the market for apparel...Retailread more
David Marcus, the head of Facebook's digital currency project, said the company expects Libra will drive more advertising revenue for the company.Technologyread more
Some White House officials expect the Cabinet secretary, who has known the president for years, to depart as soon as this summer.Politicsread more
Boeing met with aircraft leasing firms and financiers in New York as the grounding of its popular 737 Max planes drags on with no clear timeline for getting the planes back in...Aerospace & Defenseread more
Reps. Ilhan Omar, Ayanna Pressley, Alexandria Ocasio-Cortez and Rashida Tlaib said Trump challenged them personally because he was not able to defeat them on the policy level.Politicsread more
A financial disclosure made by lawyers for Jeffrey Epstein, a former friend of presidents Donald Trump and Bill Clinton, reveals he has nearly $560 million in assets.Politicsread more
Both companies report earnings on Aug. 8, so the CBS and Viacom boards have set that as a natural deadline to agree to a merger. Price won't be discussed by the companies...Technologyread more
The Food and Drug Administration "stands ready" to start reviewing e-cigarettes amid a teen vaping "epidemic," acting Commissioner Ned Sharpless said Monday in a statement.Health and Scienceread more
Washington's decision to arrest a Huawei executive over the Chinese telecoms giant's business dealings with Iran seems hypocritical, according to veteran economist Stephen Roach.
Meng Wanzhou, Huawei's chief financial officer, was arrested in Canada on Dec. 1 at the request of the U.S. government over allegations that she misled international banks about Iran-linked transactions that are in breach of American sanctions. She has since been released on bail and is due to appear in a Canadian court in February.
Canadian officials insist the arrest wasn't politically motivated, but it's widely seen as a means for President Donald Trump to gain leverage in the ongoing U.S.-China trade war.
"A number of financial institutions, including JP Morgan, Bank of America, Wells Fargo and international banks, were all judged guilty and paid enormous fines for violating sanctions in the last several years, " Roach told CNBC's Eunice Yoon on Friday. "None of their executives, of course, went to jail — why is Huawei being singled out for the sanctions violations?"
Iran, in 2015, was removed from the United Nations' sanctions list when the country agreed to a deal on its nuclear program. Washington, however, withdrew from that accord earlier this year and re-imposed sanctions on Tehran.
The U.S. is the only one "trying to enforce something that the international community is going the other way on," Roach said.
Trump said Tuesday he may intervene in Meng's case if it would help his country obtain a trade deal with Chinese President Xi Jinping's government. His remarks drew rebuke from Canada, and raised concerns that Trump was using the Huawei case as a bargaining chip in the trade war.
Meng's arrest was "a political decision to force China to the bargaining table and let China know that America is going to be tough in using all means at its disposal" to pressure Beijing, said Roach, a senior fellow at Yale University. The bilateral relationship is increasingly becoming "one of mutual distrust," he continued.
The developments come as more countries exclude Huawei from participating in their respective super-speed 5G roll-outs amid national security concerns. Western countries are worried that China's government uses Huawei for espionage even though the Shenzhen-based firm has repeatedly insisted that isn't influenced by Beijing.
Recent allegations leveled at Beijing by the international community have been "rumor and innuendo" and it's important that these surveillance accusations are properly investigated, Roach said.