Representatives from the Chinese side say they think it likely that Chinese President Xi Jinping will attend the G-20 meeting later this month. But in order to reach a trade...China Economyread more
Software engineers straight out of college often make six-figure salaries, not counting equity compensation.Technologyread more
Wall Street, though, is clamoring for a rate cut, with an 85% chance of a move in July and a 61% probability of three reductions by year's end.The Fedread more
A company spokesperson said the outage was the result of a "an internal technology issue" and was not security related.Retailread more
The flattening of the yield curve is exuding a bad omen for the stock market if history is any guide.Marketsread more
Using MIT's living wage calculator, CNBC Make It mapped out the minimum amount a single parent must earn to meet their basic needs without relying on outside help in every...Earnread more
Hong Kong Chief Executive Carrie Lam announced at a press conference on Saturday that a contentious bill to allow extraditions to mainland China has been put on hold.China Politicsread more
Stratolaunch, the world's largest airplane, which flew once, is up for sale, sources familiar told CNBC.Investing in Spaceread more
Transparency is key… or is it? With the first-ever non-transparent, actively managed exchange-traded fund receiving approval from the SEC, "ETF Edge" goes straight to the...ETF Edgeread more
Mired in a crisis over its best-selling 737 Max plane, Boeing could hand the spotlight over to its rival Airbus at the Paris Air Show.Airlinesread more
A new update to the Apple Watch called watchOS 6 will notify you if the environment you're in is too loud and could damage your hearing.Technologyread more
The U.S. needs to work out a trade deal with China by the end of the year or the retail sector will be in big trouble, former J.C. Penney CEO Allen Questrom said Thursday.
Questrom, who served as chairman and CEO at the department store chain from September 2000 to December 2004, said he expects President Donald Trump and Chinese President Xi Jinping will come to an agreement soon because "nobody benefits the longer this goes on" and they "don't want to see a disaster."
"We've got two intelligence economies: One China, one United States," he said. "And I think they're going to come to their senses."
The SPDR S&P Retail XRT — an ETF that tracks the industry's biggest companies — is down 1.73% year to date through Thursday's close amid the U.S.-China trade dispute.
The world's two largest economies increased tariffs on one another this month, with the U.S. making the first move by increasing duties on $200 billion worth of Chinese products from 10% to 25%. China announced plans to raise tariff rates on $60 billion in U.S. goods. The tactics amplified a fight that has rattled financial markets and threatened to drag on the global economy.
During post-earnings conference calls this week, Kohl's, J.C. Penney and Home Depot executives were united in their messaging against additional taxes on imports from China. Kohl's cut its earnings estimates, blaming in part a hit from tariffs.
But Questrom said retail stocks Target, Walmart and Costco will be winners in the near term because of their exposure in the grocery business. Meanwhile, department store chains will need to "execute well" and create "excitement" for their consumers in order to bring in revenue and satisfy investors.