Facebook will also create a new subsidiary, Calibra, to build a digital wallet for people to store and exchange the currency using apps.Technologyread more
Experts expect Facebook's cryptocurrency venture to alleviate some security issues, while introducing new ones.Cybersecurityread more
European Central Bank President Mario Draghi defended the tools that the organization has available.Europe Newsread more
According to China's top economic planning body, some local companies are cutting back on their efforts to hire new university graduates.China Economyread more
German Chancellor Angela Merkel has presided over a tumultuous recent period, which for many, has left Europe on the brink.Commentaryread more
The chipmaker crush could persist and investors should be selective, but Nvidia looks like a clear buy, one market watcher says.Trading Nationread more
Tensions between China and the U.S. are threatening to slow global trade further, threatening some Asian economies.Asia Economyread more
U.S. President Donald Trump's former campaign chairman Paul Manafort was transferred to a detention facility in Manhattan on Monday ahead of an expected arraignment on state...White Houseread more
Airbus recorded orders and options for 123 planes, according to the aviation consulting firm IBA.iQ.Paris Air Showread more
Markets in Asia were mostly higher on Tuesday as investors awaited the start of a closely-watched meeting by the U.S. Federal Reserve, set to kick off later stateside.Asia Marketsread more
Wall Street analysts think Facebook's cryptocurrency payments project will give the company a big boost.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.