Chinese officials will be in Washington on Wednesday to hold consultations with the U.S. ahead of high-level trade talks in October.World Economyread more
President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
The meeting comes amid months of stalled trade talks between Washington and New Delhi, resulting in both sides taking retaliatory measures.Asia Politicsread more
Longtime bank analyst Dick Bove warned clients Thursday that Goldman Sachs' recent troubles in Malaysia are "just the beginning" of its legal woes.
The closely followed Bove, who joined broker-dealer Odeon earlier this year, initiated coverage of Goldman Sachs with a sell rating.
"It is unclear to us whether Goldman Sachs participated in any inappropriate activities," Bove wrote. "What does seem likely is that Goldman's due diligence efforts will be criticized. If true, this will lead to meaningful changes in company operations and personnel. The company has already decided to withhold payments to some of its top executives due to this matter."
The bank said earlier this year that it could withhold pay from former CEO and Chairman Lloyd Blankfein and other top executives depending on the outcome of an investigation into a Malaysian investment fund called 1MDB.
Goldman helped the fund raise $6.5 billion in 2012 and 2013 in three bond deals but now faces charges by the Malaysian government, which claims assets were plundered from the fund. Goldman Sachs claims it was the victim of deceptive Malaysian officials and the rogue actions of a former banker at the firm.
"I think that the most negative revelations are yet to come," Bove continued. "Thus, the broader issue is will Goldman's business operations be impacted? The company has been involved in questionable operations in Venezuela, also."
Goldman did not immediately return a phone call for comment on Bove's note.
The closely followed financials analyst has been a frequent and vocal critic of the New York-based bank. A frequent target of Bove's frustrations was former Goldman CEO Lloyd Blankfein, whom the analyst often critiqued for his management during the 2008 financial crisis. The analyst was overjoyed last year when the company announced that Blankfein would step down.
"I think it's wonderful. The only bad part about this news is that people are talking about him staying until the end of the year. I think he should leave immediately," Bove told CNBC's "Halftime Report" in March 2018. "I don't think there's any rationale other than the cult of Lloyd Blankfein. … There's no reason for him to stay."
The analyst underscored at the time what he sees as "pathetic" earnings and revenue performance over the past several years relative to the other big banks on Wall Street.