The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
Stocks are bouncing higher but could be trapped in a range longer term, until there's a resolution of the trade wars.Market Insiderread more
Powell will have the opportunity if not to walk back the "midcycle" assessment then to at least provide some further explanation about what it means.Economyread more
The report comes as Trump in recent days has lashed out over media reports about growing recession fears.Politicsread more
Apple has spent more than $6 billion on original TV shows and movies for its forthcoming Apple TV+ service, according to a Financial Times report on Monday.Technologyread more
The Business Roundtable, led by Jamie Dimon, gives a new definition of the "purpose of a corporation."Marketsread more
"These days, the consumer is addicted to convenience ... If it doesn't have a great digital presence or incredible bargains, take a pass," Jim Cramer says.Mad Money with Jim Cramerread more
Tilman Fertitta told CNBC on Monday that he is doing things in a "very conservative way" amid fears of a recession.Marketsread more
Saudi Aramco sent a request for proposal to several banks, people familiar with the matter told CNBC on Monday.Marketsread more
Twitter and Facebook have suspended accounts believed to be tied to a state-backed disinformation campaign originating from inside China.Technologyread more
J.P. Morgan estimates the average annual tariff cost per household will be $1,000 with the new round of Trump's tariffs.Marketsread more
(Adds quotes, background)
BEIJING, May 16 (Reuters) - Chinese authorities have formally arrested on state secrets charges two Canadians detained last year, the government said on Thursday, in what is likely to further increase tension between Ottawa and Beijing.
Businessman Michael Spavor, who worked with North Korea, and former diplomat Michael Kovrig were picked up separately in December, shortly after Canada arrested Huawei Technologies Co Ltd Chief Financial Officer Meng Wanzhou, who faces extradition to the United States.
China has repeatedly demanded Meng be released, and has reacted angrily to extradition proceedings against her in a Canadian court.
"According to Chinese prosecutors' approval, Michael Kovrig, due to being suspected of crimes of gathering state secrets and intelligence for foreign (forces), and Michael Spavor, for being suspected of crimes of stealing and illegally providing state secrets for foreign (forces), have in recent days been approved for arrest according to law," foreign ministry spokesman Lu Kang told a daily news briefing.
China has taken the measures in accordance with the law, he said.
China hoped Canada "will not make irresponsible remarks" about China's law enforcement and judicial proceedings, Lu said.
The Canadian embassy in Beijing did not immediately respond to a request for comment. Canadian diplomats have been allowed to visit the two men in detention.
In March, China accused the two of involvement in stealing state secrets.
China has said it is fully guaranteeing both men's lawful rights. Kovrig also holds Hungarian citizenship.
Kovrig works for the International Crisis Group (ICG) non-governmental organisation which focuses on conflict resolution.
With their formal arrest, they could soon face trial, though it is unclear when that may be.
While Canada says China has made no specific link between the detentions of the two men and Meng's arrest, experts and former diplomats say they have no doubt it is using their cases to pressure Canada.
Meng, 47, is the daughter of Huawei Technologies Co Ltd's billionaire founder, Ren Zhengfei.
She was arrested at Vancouver's airport in December on a U.S. warrant and is fighting extradition on charges that she conspired to defraud global banks about Huawei's relationship with a company operating in Iran.
Meng was released from jail in December on C$10 million ($7.5 million) bail and must wear an electronic ankle bracelet and pay for security guards. She has been living in a Vancouver home that was valued at C$5 million in 2018.
Both she and the company have denied the U.S. charges. (Reporting by Michael Martina; Writing by Ben Blanchard Editing by Darren Schuettler, Robert Birsel)