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
Twitter and Facebook have suspended accounts believed to be tied to a state-backed disinformation campaign originating from inside China.Technologyread more
United States Steel Corp will temporarily lay off hundreds of workers at its Great Lakes facility in Michigan in coming weeks, according to a filing the steelmaker made with...US Marketsread more
Beijing will lower borrowing costs for companies, but that may not boost the economy as much as some hope.China Economyread more
Stocks are bouncing higher but could be trapped in a range longer term, until there's a resolution of the trade wars.Market Insiderread more
Stocks in Asia edged higher Tuesday morning as investors await the release of minutes from the Reserve Bank of Australia's July meeting. The People's Bank of China is also set...Asia Marketsread more
Powell will have the opportunity if not to walk back the "midcycle" assessment then to at least provide some further explanation about what it means.Economyread more
The report comes as Trump in recent days has lashed out over media reports about growing recession fears.Politicsread more
Apple has spent more than $6 billion on original TV shows and movies for its forthcoming Apple TV+ service, according to a Financial Times report on Monday.Technologyread more
The Business Roundtable, led by Jamie Dimon, gives a new definition of the "purpose of a corporation."Marketsread more
"These days, the consumer is addicted to convenience ... If it doesn't have a great digital presence or incredible bargains, take a pass," Jim Cramer says.Mad Money with Jim Cramerread more
A high-ranking Trump administration official reached out to at least one well-known investor for advice on markets after a recent drubbing for stocks, sources told CNBC.
The call took place after a sell-off on Christmas Eve, the worst day of Dec. 24 trading ever. The Dow Jones Industrial Average, and Nasdaq all dropped more than 2 percent Monday, as rumors swirled about President Donald Trump's desire to fire Federal Reserve Chairman Jerome Powell and Defense Secretary James Mattis resigned amid disagreements with the president. The major indexes then spiked about 5 percent on Wednesday.
The administration, which has judged Trump's success in part on stock market performance, is "determined" to boost equities, the sources said. The sources said the investor advised the official to tell the president to end his criticism of Powell on Twitter, stop administration turnover and reach a trade deal with China in order to help markets.
Trump celebrated a consistent rise for stocks during his first year in office. But markets have faltered this year amid a trade war with China, concerns about the Fed's four interest rate hikes and fears about slowing global growth. As of Friday morning, stocks were on track for their worst December since 1931, with the S&P down about 10 percent.
Trump has tried to blame market carnage on the Fed. Before the plunge Monday, the president tweeted that "the only problem our economy has is the Fed." He contended the U.S. central bank does not "have a feel for the Market."
The tweet followed the Fed's decision to raise the target range for its benchmark interest rate by a quarter point to 2.25 to 2.5 percent.
The Trump administration has denied that the president wants to fire Powell, the head of the independent central bank. It is unclear whether Trump even has the authority to remove the Fed chair.
— CNBC's Jacob Pramuk contributed to this report