Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
Hours after President Trump said Sunday he had "second thoughts" about escalating the trade war with China, the White House sought to explain his remark because it was...Politicsread more
President Donald Trump said that he would have a major trade deal with U.K. after it leaves the European Union.Politicsread more
Despite Kudlow's expectations, China said on Saturday that it strongly opposes Trump's decision to levy additional tariffs on $550 billion worth of Chinese goods, and warned...Politicsread more
President Donald Trump said Sunday he was not happy after North Korea launched short-range ballistic missiles over the weekend.Politicsread more
J.P. Morgan Chase has ended its relationship with Purdue Pharma over its alleged role in the U.S. opioid crisis, a person familiar with the matter told CNBC on Thursday.
J.P. Morgan, the largest U.S. bank by assets, becomes the most high-profile corporation known to have disassociated itself from the OxyContin maker, forcing Purdue to look for other banks to manage its bills and cash. Reuters first reported the move Thursday.
Purdue, owned by the wealthy Sackler family, faces thousands of lawsuits claiming that the company marketed addictive painkillers while underplaying the risks of abuse and overdose.
The bank's decision also underscores a drive among U.S. banks to reassess their relationships with clients and industries in response to controversy and political debates over matters such as immigration detention and mass shootings.
After J.P. Morgan informed Purdue in March that it had six months to find another bank, Purdue tapped Dallas-based regional bank Comerica to handle its financial transactions and accounts, sources familiar with the matter told Reuters.
"Purdue is a streamlined organization with an exciting pipeline of new medicines and significant cash reserves," the company said in a statement. "The company has multiple banking relationships and will not have any interruption to its banking and financial service needs."
JPMorgan declined to comment.
— Reuters contributed to this report.