The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Scientists say the smoke plumes, filled with megatons of tiny, harmful particles, could travel to other areas of the world and cause serious respiratory problems for people.Weather & Natural Disastersread more
Some Weight Watchers loyalists applaud Kurbo by WW. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time.Health and Scienceread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
The U.S. economy grew by 3.1% to start the year, slightly better than expected and providing some relief at a time when recession fears are accelerating, the Commerce Department reported Thursday.
First-quarter gross domestic product beat the 3% Dow Jones estimate but was lower than the initial 3.2% projection from the Bureau of Economic Analysis. The decrease came due to downward revisions to nonresidential fixed and private inventory investment, two key drivers to GDP.
The new numbers, which represent the second reading, also reflect upward revisions to exports and personal consumption expenditures. Corporate profits also weakened, falling 2.8% across all companies and 0.5% in the S&P 500.
Inflation indicators also were weaker than expected, with core personal consumption expenditures up just 1.03%.
Exports rose 4.8% amid the increasingly bitter trade war between the U.S. and China, while imports, which are a subtraction from GDP, declined 2.5%. The level of net exports contributed nearly 1 percentage point to the GDP gain.
In the bigger picture, growth easily surpassed what most economists had been expecting at the start of the year. At one point, the Atlanta Federal Reserve was estimating GDP to rise just 0.2%. Strong contributions from real gross domestic income helped drive the better numbers, as did a rise in exports, state and local government spending and nonresidential fixed investment.
Corporate profits fell during the quarter, with nonfinancial corporations seeing a decline of $62.1 billion compared with an increase of $13.6 billion in the fourth quarter. Financial companies saw an increase of $7.2 billion compared with a decrease of $25.2 billion for the previous period.
Personal consumption expenditures rose 1.3% in the quarter, compared with a rise of 2.5% in the previous quarter but well above the 0.5% in Q1 of 2018.
Second-quarter growth is expected to decline significantly. CNBC's Rapid Update economist survey sees GDP up 1.8%, while the Atlanta Fed's projection is for just 1.3%.