Trump said he doesn't see a recession after the bond market spooked investors and the Dow suffered its worst day of the year last week.Marketsread more
The U.K. prime minister prepares to meet his German and French counterparts this week.Europe Politicsread more
Amazon is raising seller fees for thousands of small and medium-sized businesses in France because of a new digital tax passed by the French government.Technologyread more
U.S. stock index futures point to a higher open on Monday morning as the White House sought to calm investors over growing concerns about the U.S. economy.US Marketsread more
Ahead of the deadline, U.S. President Donald Trump told reporters that Huawei was a national security threat.Technologyread more
Bianco Research's James Bianco suggests Wall Street is desperately looking for a signal that a 50 basis point cut is coming next month.Trading Nationread more
Baidu is gearing up to release its second-quarter earnings on Monday with the market expecting a sharp decline in profit.Technologyread more
Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
Stocks in Asia rose on Monday as U.S. Treasury yields bounced higher after plunging last week.Asia Marketsread more
The problem with tanking equities lies elsewhere, writes Michael Ivanovitch, because traders see no end to America's unfolding trade disputes with Europe and China.World Economyread more
Beijing wants to use reforms to support a slowing economy.China Marketsread more
The charges against celebrity lawyer Michael Avenatti are "very significant," veteran white-collar defense attorney Thomas Gorman told CNBC on Monday.
His arrest on Monday came about 15 minutes after he tweeted that he would be holding a press conference to disclose a "major high school/college basketball scandal perpetrated by" Nike that he claims to have uncovered.
"That's over the top," Gorman said on "The Exchange. "
"This is clearly not the way to present a whistleblower claim. There are proper ways to present a whistleblower claim. You can take the client down to the Securities and Exchange Commission, for example. They have a whole process to do this. The client can get paid money if it pans out," he added.
The real problem for Avenatti is that he was caught on tape, said Gorman, who has defended companies and individuals in SEC and Justice Department investigations.
According to the complaint, Avenatti and a cooperating witness spoke with Nike attorneys by phone and during that call "Avenatti stated, with respect to his demands for payment of millions of dollars, that if those demands were not met 'I'll go take ten billion dollars off your client's market cap ... I'm not f---ing around.'"
"Since they are on tape, it's going to be hard for Mr. Avenatti to dispute these," Gorman said.
He just needs to look at another high-profile case — that of former hedge-fund manager Raj Rajaratnam — to see how crucial those recordings can be. Rajaratnam is now serving prison time for insider trading.
"What convicted him was not the other evidence. It was the tapes," Gorman said.
Avenatti, who once represented porn star Stormy Daniels in her lawsuits against President Donald Trump and his former attorney Michael Cohen, is also facing separate charges of embezzlement in Los Angeles.