President Donald Trump has publicly blamed the Federal Reserve's interest rates hikes for holding back U.S. economic growth.The Fedread more
China's President Xi Jinping arrived in Pyongyang on Thursday morning for a state visit to North Korea — the first by a Chinese state leader in 14 years. Experts say the move...Asia Politicsread more
Gold prices spiked in the afternoon of Asian trading hours on Thursday after a dovish U.S Federal Reserve opened the door to further rate cuts, and the 10-year Treasury yield...Metalsread more
The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
Waymo has signed a deal with Renault and Nissan to develop self-driving cars and trucks for use in France, Japan and possibly other countries in Asia, including China, the...Autosread more
"No U.S. drone was operating in Iranian airspace today," a U.S. Central Command spokesman said, according to NBC News.World Politicsread more
The Fed left interest rates unchanged at its monetary policy meeting. The U.S. central bank did, however, drop the word "patient " from its statement and said it would "act as...Asia Marketsread more
As the presidents of U.S. and China near a highly anticipated meeting on trade, the gap in both sides' expectations regarding a deal remains wide.World Politicsread more
Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
The yield on the benchmark 10-year Treasury note fell below 2% for the first time since November 2016 on Wednesday.Bondsread more
Powell said policymakers are concerned about some of the recent economic developments and see a growing case for easier policy.The Fedread more
Apple dismissed just over 200 employees this week from Project Titan, its stealthy autonomous vehicle group, people familiar with the matter told CNBC.
An Apple spokesperson acknowledged the layoffs and said the company still sees opportunity in the space:
"We have an incredibly talented team working on autonomous systems and associated technologies at Apple. As the team focuses their work on several key areas for 2019, some groups are being moved to projects in other parts of the company, where they will support machine learning and other initiatives, across all of Apple," the spokesperson said.
"We continue to believe there is a huge opportunity with autonomous systems, that Apple has unique capabilities to contribute, and that this is the most ambitious machine learning project ever."
In August, Apple enlisted a Tesla engineering vice president and Apple veteran, Doug Field, to lead the Titan team alongside Bob Mansfield. This week's dismissals from the group were seen internally as anticipated restructuring under the relatively new leadership.
Other employees who were impacted by the restructuring of Project Titan are staying at Apple, but moving to different parts of the company.
CEO Tim Cook has been touting Apple's initiatives in health as the key to its future. "I believe, if you zoom out into the future, and you look back, and you ask the question, 'What was Apple's greatest contribution to mankind?' it will be about health," Cook told CNBC's Jim Cramer.
Apple executives have been mum in recent months about the company's car prospects, which appear to have been scaled back from the initial rumored vehicle to a focus on software. In 2016, Apple laid off employees from the same group, shifting its strategy. Fully self-driving cars remain experimental, even for major players in the field such as Waymo, Cruise and Tesla.
Venture and strategic investors from the traditional automotive world have poured billions into start-ups developing self-driving vehicles including Zoox, Pony.AI, Aurora, May Mobility and Embark.
— CNBC's Jordan Novet contributed to this report.