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
"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
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
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
Some operators are cashing in on the CBD craze by substituting cheap and illegal synthetic marijuana for natural CBD in vapes and edibles such as gummy bears, an AP...Health and Scienceread more
Attack on Saudi oil facilities shows that 'risk is real', Chevron CEO Michael Wirth said on CNBC's "Closing Bell" Monday.Marketsread more
J.P. Morgan's chief quant says oil prices would start to hurt stock prices when they hit the $80 to $85 range.Market Insiderread more
When new Facebook employees start at the company, there's always been one person to publicly greet them: Chris Cox.
Every Monday, Cox has welcomed new hires at the headquarters in Menlo Park, California, as part of their orientation. He would talk to them for half an hour or more, explaining Facebook's mission to connect every human in the world, according to former employees.
Cox's resignation from Facebook, which the company announced on Thursday, marks the departure of not just its chief product officer but also one of its most popular executives. One ex-employee, who asked not to be named, said Cox was viewed by many as "the heart and soul of the Facebook mission at the company."
"He was an incredible story teller and could bring you to tears when talking about new features and how important they were," a former Facebook executive told CNBC.
Cox joined Facebook in 2005, a year after the company was founded, and was one of the first 15 engineers. He's played a key role on many of its products, including News Feed, and at one point served as the company head of human resources. Facebook made him awfully rich, too. He currently owns shares worth $62.6 million, according to FactSet.
"For the average Facebook employee, Facebook without Chris Cox is almost unimaginable," the former employee said.
He also had a reputation as one of the company's big thinkers and best speakers — key reasons why he was trusted to share the Facebook ethos with its newest employees every week.
"Chris is one of the people that everybody in the company respected the most," said Henry Liu, a former strategic account manager at Facebook who left the company in 2017. "His charisma, passion for the future of communication and how he tells the story of Facebook's products really invigorated all the employees at company meetings."
Cox's departure comes just days after CEO Mark Zuckerberg announced a drastic change in strategy, saying the future of Facebook lays in private communication. The shift is notable for a company that's built one of the world's most valuable businesses on the backs of billions of users sharing their data publicly and allowing marketers to use that information to target them with advertisements.
In a goodbye post on Thursday, Cox said "This will be a big project and we will need leaders who are excited to see the new direction through."
According to Liu, "this is a sign that Facebook will be a dramatically different company in the next five to 10 years than it is today."
Another ex-employee who worked with Cox on News Feed said the former product head was always a champion of improving the quality of Facebook's tools. Cox advocated for improving privacy, reducing bugs and getting rid of fake news, even if Facebook incentivized companies based on other more growth-oriented metrics, the former employee said.
"If shipping a nice shiny feature is better than fixing a bug, an engineer is going to focus on shipping the nice shiny feature," the person said.
Facebook in February said it is changing the way it reviews the performance of its employees to focus on new criteria including "making progress on the major social issues facing the internet and our company."
"It could have been done earlier," the former employee said.