Of all the cases of economic espionage charged by the DOJ's National Security Division since 2012, more than 80% of them implicated China.World Politicsread more
"Whilst there is a big dispute at the moment, I think there's also potential for resolution," UBS chairman Axel Weber says of the U.S.-China trade negotiations.World Economyread more
Despite mixed fan and critic reactions to the final season of "Game of Thrones," the eight-season epic took home the top prize in the drama category at the Emmy Awards on...Entertainmentread more
There are alternative financial centers and investors can turn to Singapore, Tokyo or Shanghai if Hong Kong doesn't "shape up," says the founder and chairman of Citic Capital.Asia Economyread more
The Kingdom and oil and gas industry have been slow to shore up defenses, raising red flags about the possibility of longer term fall-out in the region.Technologyread more
Tensions between South Korea and Japan may ultimately disrupt the high-end tech sectors, says Heenam Choi, CEO at South Korea's sovereign wealth fund.Traderead more
On Sunday, the 71st Primetime Emmy Awards honored the best comedies, dramas, limited and variety series from the last year.Entertainmentread more
U.S. President Donald Trump's national security advisor said on Sunday that White House Asia policy adviser Matt Pottinger would become his top deputy.Politicsread more
Removing Neumann is a difficult decision for Son, who has long believed in WeWork and Neumann's vision to quickly expand the company.Technologyread more
Datadog went public on Thursday and instantly hit a $10 billion valuation, becoming the fourth cloud software debut to reach that level this year.Technologyread more
There are challenges with Iran, North Korea, the Afghan Taliban, Israel and the Palestinians — not to mention a number of trade pacts.Politicsread more
A group of music publishers is suing Peloton, alleging the maker of video-streaming exercise bikes used more than 1,000 songs from Lady Gaga, Drake, Gwen Stefani, Justin Timberlake and others without permission.
The publishers, including Downtown Music Publishing, Big Deal Music, Reservoir, Round Hill, Royalty Network, Pulse Music Publishing and TRO Essex Music Group, say Peloton failed to license songs from the companies, resulting in a loss of income.
The copyright infringement lawsuit, which seeks more than $150 million in damages, was filed Tuesday in the U.S. District Court of the Southern District of New York.
"Music is a core part of the Peloton business model and is responsible for much of the brand's swift success," David Israelite, National Music Publisher's Assocation's president and CEO, said in a statement. "Thousands of exclusive videos and playlists are a major reason hundreds of thousands of people have purchased Peloton products."
"Unfortunately, instead of recognizing the integral role of songwriters to its company, Peloton has built its business by using their work without their permission or fair compensation for years," he said.
The association said that since 2014, Peloton had released thousands of videos that included unlicensed music recorded by artists like Rihanna, Bruno Mars, Katy Perry, Shawn Mendes, Ed Sheeran, Wiz Khalifa, Thomas Rhett, Ariana Grande, Justin Bieber and Florida Georgia Line.
"We just received the complaint this morning, and we are evaluating it," Peloton told CNBC in a statement. "Peloton has great respect for songwriters and artists. In fact, we have partnered with each of the major music publishers, record labels and performing rights organizations, and many leading independents. We have also invested heavily to build a best-in-breed reporting and licensing system to support our partners and provide our members with a world-class fitness experience."
Peloton is expected to go public in the second half of the year and is rumored to be seeking a valuation of $4 billion.
Peloton manufacturers and sells stationary exercise equipment that sell in excess of $2,000 each. It also has a monthly streaming service for members to watch exercise videos while they bike.
Disclosure: Comcast, the parent company of NBCUniversal and CNBC, has a stake in Peloton.