The fallout from two fatal crashes of Boeing 737 Max planes has ensnared the manufacturer's most-loyal customer: Southwest Airlines. The carrier has canceled thousands of...Airlinesread more
The Fed is expected to cut rates Wednesday, but it is unlikely to tell markets what they want to hear on future rate cuts.Market Insiderread more
Stocks rose slightly on Tuesday, but gains were capped as the Federal Reserve kicked off a two-day monetary policy meeting.US Marketsread more
Pelosi said Trump should not have tried to address China's trade practices in a way that opened Americans up to financial pain.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
In the survey, conducted after the third in the Democratic Party's series of debate, the former vice president draws 31% compared to 25% for the Massachusetts senator. At 14%,...2020 Electionsread more
E-cigarette maker Juul Labs Inc.'s sales have been halted on two websites in China, just days after it launched in the world's biggest tobacco market.Biotech and Pharmaceuticalsread more
Investors might be wary that gasoline prices will continue to rise, and are looking to take back profits by selling off shares.Retailread more
The Trump administration move on California's auto emissions standards would likely set up a fight between the White House and the state.Politicsread more
"I feel really confident that defense-minded CEOs, when they are on defense, they're going to come to" flexible offices and away from traditional leases, Knotel CEO Amol Sarva...Commercial Real Estateread more
Fanatics has hired Michener Chandlee, Nike's corporate audit and chief risk officer, to become its chief financial officer, succeeding Lauren Cooks Levitan, CNBC has learned.Retailread more
WASHINGTON — Russia conducted another successful test of a hypersonic weapon system capable of carrying nuclear warheads, the Kremlin announced Wednesday.
Moscow's hypersonic glide vehicle, dubbed Avangard, has been in development for three decades and can travel at least five times the speed of sound, or about one mile per second.
The weapon, which the U.S. is currently unable to defend against, is designed to sit atop an intercontinental ballistic missile. Once launched, it uses aerodynamic forces to sail on top of the atmosphere.
Sources familiar with U.S. intelligence reports assess that the Russian hypersonic glide vehicles are equipped with onboard countermeasures that are able to defeat even the most advanced missile-defense systems. The weapons are also highly maneuverable and, therefore, unpredictable, which makes them difficult to track.
What's more, in May, CNBC learned that Russia successfully tested the weapon twice in 2016, according to sources with direct knowledge of a U.S. intelligence report. The third known test of the device was carried out in October 2017 and resulted in a failure when the platform crashed seconds before striking its target.
One U.S. intelligence report, according to a source, noted that the hypersonic glide vehicles would join Russia's arsenal by 2020, a significant step that would enable the Kremlin to surpass the U.S. and China in this regard.
The latest revelations come nine months after Russian President Vladimir Putin touted his nation's growing hypersonic arsenal as "invincible."
During a state of the nation address in March, Putin boasted about an arsenal of hypersonic nuclear weapons that he described as "invincible."
Putin claimed Avangard is capable of reaching targets at 20 times the speed of sound and strikes "like a fireball." He also said that the hypersonic warhead had already entered serial production.
"I want to tell all those who have fueled the arms race over the last 15 years, sought to win unilateral advantages over Russia, introduced unlawful sanctions aimed to contain our country's development: You have failed to contain Russia," Putin said in March. He added that the new capabilities were "not a bluff" and showed footage of the weapons as well as a simulated strike on the U.S. homeland.
Of the six weapons Putin unveiled in March, CNBC has learned that two of them will be ready for war by 2020, according to sources with direct knowledge of U.S. intelligence reports.