Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
Federal Reserve Vice Chair Richard Clarida said Friday the global economy has deteriorated in the past month.Marketsread more
The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
The death comes as federal and state health officials investigate a slew of lung illnesses in connection to e-cigarette use.Health and Scienceread more
Supreme Court Justice Ruth Bader Ginsburg has completed a three-week course of radiation therapy for cancer, the top court said in a statement Friday.Politicsread more
Epstein, a former friend of Presidents Donald Trump and Bill Clinton, was arrested by FBI agents in New Jersey in early July as he stepped off his private plane, which had...Politicsread more
Lowe's is vying for a category of customer that Home Depot has traditionally dominated — the professional contractor.Retailread more
The president tweeted Friday morning that he was ordering "our great American companies" to "immediately start looking for an alternative to China."Marketsread more
Embattled PG&E is reportedly nearing a deal to overhaul its executive team.
The California-based utility company has agreed with a group of hedge funds to replace its CEO and board of directors, Bloomberg News reported Tuesday, citing people familiar with the matter. PG&E will reportedly hire Bill Johnson, the outgoing CEO of Tennessee Valley Authority, as its new chief executive.
Knighthead Capital Management, Redwood Capital Management and Abrams Capital Management are among the hedge funds negotiating the PG&E executive overhaul, which Bloomberg said could be announced as soon as Wednesday.
PG&E is the state's biggest investor-owned utility, with 16 million customers across a 70,000-square-mile service area in Central and Northern California. It faces at least $30 billion in potential liabilities from California wildfires in 2017 and 2018. Many of those were allegedly started by the company's equipment, which caught the attention of state officials who question the safety of PG&E's electric system.
The company's share price plunged after announcing plans to pursue Chapter 11 bankruptcy in January. The stock closed about 2 percent lower on Tuesday. Shares are down more than 59 percent year over year.
According to a February Wall Street Journal report, PG&E delayed safety work on a century-old high-voltage transmission line that is suspected to have caused the deadliest wildfire in California's history. Earlier this week, Bloomberg reported that the stakeholders are proposing a $35 billion plan for the company to emerge from bankruptcy within a year.
— Read the entire Bloomberg report here.
— CNBC's Thomas Franck contributed reporting.