Stocks fell sharply on Thursday as U.S.-China trade worries persisted with more companies suspending business with Chinese telecom giant Huawei.Marketsread more
A Ministry of Commerce spokesperson does not single out any U.S. action, but it's been a tense couple of weeks for the trade war.World Politicsread more
The e-mail's optimistic tone helped Tesla shares turn positive for the first time in seven days.Technologyread more
In a four-page letter sent Thursday morning, Warren and Ocasio-Cortez asked Mnuchin a series of questions about his advisory role in former Sears CEO Eddie Lampert's...Politicsread more
"For them to say that they don't work with the Chinese government is false," Secretary of State Mike Pompeo tells CNBC.Politicsread more
Facebook has stopped paying commission to staff for selling political advertisements on its platform, The Wall Street Journal reported.Technologyread more
The yield on the 10-year Treasury note fell to its lowest level since 2017 as more traders grew confident in a longer U.S.-China conflict.Bondsread more
Prosecutors allege Stephen Calk, former president of Chicago-based Federal Savings Bank, loaned former Trump campaign chair Paul Manafort as much as $16 million in exchange...Politicsread more
At McDonald's annual shareholder meeting Thursday, executives said that the company is still monitoring plant-based meat substitutes.Restaurantsread more
Oil prices tumble as the market braces for a prolonged U.S.-China trade war and on signs the U.S. is willing to negotiate with Iran.Energy Commoditiesread more
U.S. manufacturer growth hit new lows in May, the latest sign that the economic slowdown accelerated amid the ongoing trade war.Economyread more
Facebook said it's raising the minimum wage it pays to thousands of contract workers around the U.S., acknowledging that the current $15 hourly minimum, which has been in place since 2015, is insufficient given the rising costs of housing in many markets.
"It's become clear that $15 per hour doesn't meet the cost of living in some of the places where we operate," Facebook said in a blog post on Monday.
The company said it will now pay $20 per hour for contractors in the San Francisco area, New York and Washington, D.C., and $18 an hour in Seattle. The announcement could serve to position Facebook favorably in relation to Amazon, which said last year that it was implementing a $15 hourly minimum, and Google, which said in April that its non-employee workforce is entitled to at least $15 an hour.
Facebook can use the public relations boost after an expose by The Verge earlier this year showed the harsh working conditions of Facebook content moderators in Phoenix. Workers there said they suffered from post-traumatic stress disorder, could be easily fired and made as little as $28,800 per year.
As part of Monday's announcement, Facebook said it will add more support for people tasked with reviewing content. Those workers, who review whether a piece of content is in compliance with Facebook's community policies, will make a minimum of $18 per hour across the country and up to $22 in the Bay Area, New York and Washington, D.C. These changes will be implemented by mid 2020, the company said.
Facebook will also allow moderators to blur graphic images before reviewing them, and the company is providing access to on-site counseling at all times.