Investors are rushing into the relative safe haven of the bond market, causing the yield on the U.S. 10-year Treasury to plummet.Real Estateread more
President Donald Trump on Thursday directed the U.S. intelligence community to "quickly and fully cooperate" with Attorney General William Barr's investigation into the...Politicsread more
Despite a decline in global commercial real estate markets, Asia-Pacific continues to enjoy a record-breaking growth — thanks to China, according to the Global Capital Flows...Real Estateread more
The Wall Street Journal and The New York Times, citing people familiar with the deal, reported that $30 million would go to plaintiffs and $14 million would be used to pay...Entertainmentread more
Wall Street is becoming convinced that both the White House and Beijing are willing to engage in a protracted trade war that could begin to hit consumers and slow global...Market Insiderread more
SpaceX sent 60 satellites into space in a key first mission toward the company's own high-speed internet network.Internetread more
The U.S. Commerce Department said its proposed rule would amend the normal countervailing duty process to include new criteria for currency undervaluation.World Economyread more
Zilingo founder Ankiti Bose says working as an investment analyst helped her build her near-$1 billion fashion start-up.Ditching the Corporate Liferead more
Asia Pacific markets were mostly in negative territory on Friday morning as investors remained worried over trade tensions between the United States and China.Asia Marketsread more
Indian Prime Minister Narendra Modi's Bharatiya Janata Party would have the first back-to-back majority in the lower house of parliament for a single party since 1984.Asia Politicsread more
TransferWise, the money transfer start-up, was valued at $3.5 billion after investors bought $292 million of shares in a secondary sale.Technologyread more
The Green New Deal, unveiled by New York Rep. Alexandria Ocasio-Cortez and Massachusetts Sen. Ed Markey, will not resonate with American voters, longtime Democrat Barney Frank told CNBC on Tuesday.
The proposal, which calls for generating 100 percent of the nation's power from renewable sources within 10 years, is emerging as a major campaign issue, with all the Democratic senators running for president in 2020 pledging their support and President Donald Trump and Republicans blasting it.
"I think the Green New Deal would be loser," said Frank, the former Massachusetts congressman who retired in 2013 after more than three decades on Capitol Hill. "There's an argument that you don't destabilize a society by doing too much change at once."
Critics of Frank's signature legislation, the Dodd-Frank Wall Street Reform and Consumer Protection Act, had expressed similar concerns. The measure, also written by then-Sen. Chris Dodd, D-Conn., was crafted after the 2008 financial crisis and signed into law in 2010 by then-President Barack Obama.
"There are people who are skeptical of government," said Frank, who has defended Dodd-Frank for years against accusations that it was too broad and disruptive to the financial industry. "People like me who do want to expand the government role in some areas need to understand that we need to show how that works. You have to do it in pieces. And then as you show that it worked, you build on that."
Vermont Sen. Bernie Sanders — who unsuccessfully sought the 2016 Democratic nomination that went to Hillary Clinton — is among the senators supporting the Green New Deal. He announced Tuesday he's running for the White House again.
In a "Squawk Box" interview, Frank said, as he did four years ago, that he does not believe Sanders can be elected president.
"Bernie Sanders, obviously, makes a very important contribution," Frank said. "I wish the American people were more willing to vote for what he wants."
The other senators who already announced bids for the White House are Massachusetts' Elizabeth Warren, New York's Kirsten Gillibrand, California's Kamala Harris, New Jersey's Cory Booker, and Minnesota's Amy Klobuchar.
Joe Biden, former vice president and a former longtime senator himself, is also expected to jump into the race soon.