Chinese officials are expected to be in Washington this week to hold consultations with the U.S. ahead of high-level trade talks in October.World Economyread more
The ballot comes at a precarious time for the country's longest serving prime minister, with the right-wing incumbent facing formidable challenges.World Politicsread more
Saudi Arabia's defense spending is the world's third-largest — behind the U.S. and China, says Gary Grappo, former U.S. ambassador to Oman.Energyread more
President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread more
The first buildings in Alphabet's first smart city project could open as soon as 2023, the project's lead said Wednesday at the Collision Conference in Toronto.
Sidewalk Labs founder and CEO Dan Doctoroff laid out the new time frame for the project aiming to create a more affordable and sustainable urban area on Toronto's waterfront. Sidewalk Labs is a subsidiary of Alphabet, which is also Google's parent company.
The project has raised public alarm, not unlike that in New York City following Amazon's decision to move its second headquarters there. Local officials and activists in Toronto have raised concerns about how Sidewalk Labs could collect a massive trove of data and have criticized the amount of public land the company seeks to develop.
Doctoroff, a former New York City deputy mayor for economic development, assured the audience Wednesday he shares the public's concern over data collection. He said Sidewalk Labs has proposed an independent, government sanctioned trust control that aspect of the project. But it seems that public opposition and perhaps standard government bureaucracy has delayed the project's original timeline.
In an interview published in April 2018, Doctoroff told Reuters that he hoped to break ground on the project in 2020 and move in the first residents as early as 2022. Doctoroff still hopes to break ground toward the end of next year, he said on Wednesday, but now believes the first buildings will open around the end of 2023 or early 2024 in the best-case scenario. Sidewalk Labs plans "to open up a whole set of [buildings] at the same time," he said. The project is subject to approval from multiple levels of government, and Doctoroff anticipates several months of negotiations to approve the project once they submit a proposal next month.
"These things take time, but that doesn't mean we can't begin to see the real fruits from a quality of life benefit perspective within a few years after the place opens up," Doctoroff said.
Once the project reaches a more mature stage, he said, Sidewalk Labs' sister company Google will move in.
"We would significantly expand Google's presence in Toronto and move the head Canadian headquarters down to the waterfront," said Doctoroff. Google's presence would serve "as a catalyst to economic development" as locals begin to utilize the previously underused space, he said.
Watch: Google's smart cities