It's about time to write off high-growth tech stocks, Goldman warned, saying software carries the highest multiples since the tech bubble.Marketsread more
Iran will surpass the internationally agreed levels of its low-enriched uranium levels in 10 days, the country's atomic energy body said Monday.Politicsread more
Boeing said the airline industry will need 44,040 new commercial airplanes by 2038. The market value of those planes would reach $6.8 trillion, up from $6.49 trillion...Airlinesread more
Apple is reportedly building three new iPhones for 2020, including two with 5G. It may also slightly change the screen sizes of the new iPhones.Technologyread more
Sotheby's announces it has signed an agreement to be acquired by BidFair USA, a venture owned by art collector Patrick Drahi.Marketsread more
Overall, extortion by email is growing significantly, according to the FBI's Internet Crime Compliant Center (IC3). Last year, these complaints rose 242% to 51,146 reported...Technologyread more
In a 7-2 ruling, over dissents from Justices Ruth Bader Ginsburg and Neil Gorsuch, the justices affirmed the so-called "dual sovereignty" exception to the Constitution's...Politicsread more
Target's nationwide cash register meltdown over the weekend created more than $16 million in buzz on the internet from news reports and other social media mentions, according...Retailread more
The chipmaker crush could persist and investors should be selective, but Nvidia looks like a clear buy, one market watcher says.Trading Nationread more
The top court scrapped a ruling from the Oregon Court of Appeals in favor of the same-sex couple. The owners of the bakery, which refused the make the cake due to religious...Politicsread more
Boeing reached a deal with British Airways to provide parts for some of its plane's made by rival manufacturer Airbus, part of Boeing's push to grow its services business.Airlinesread more
JAKARTA, Indonesia — While tensions between the U.S. and Iran have intensified this month, the Trump administration does not seek war with Tehran, acting U.S. Secretary of Defense Patrick Shanahan said Wednesday.
"When the president says he doesn't want a war with Iran, I think that is pretty clear," Shanahan told reporters traveling with him to Indonesia. "I don't think anyone wants a war with Iran," he added, saying that the U.S. had credible intelligence Tehran was preparing for an attack.
Shanahan's comments come on the heels of a U.S. military buildup in the Middle East. Earlier this month, the Pentagon deployed the USS Arlington, USS Abraham Lincoln carrier strike group, a Patriot missile defense battery, a U.S. Air Force bomber task force and approximately 1,500 troops to the region.
Last week, the Trump administration sidestepped Congress by approving arms sales to Gulf allies, citing Iranian threats. The move sparked concerns among lawmakers who fear the weapons sold to Saudi Arabia and the United Arab Emirates may be used against civilians in war-torn Yemen.
"I wish I could just hand over to you all the information and you'd feel very good about it," Shanahan said referring to the intelligence assessments that showed Iran was preparing for a strike. "The thing I would offer is that it was so credible that, we moved that quickly, it was a matter of hours. I would make the argument that it deterred attacks on our people in Iraq."
Earlier this month, Trump ordered new sanctions placed on Iranian metals, Tehran's largest non-petroleum-related source of export revenue.
The U.S. also took aim at Iranian oil by effectively ordering countries worldwide to stop buying Tehran's oil or face sanctions of their own.
Additionally, the U.S. designated Iran's Revolutionary Guard as a terrorist group. Iran responded with threats to close the Strait of Hormuz, where about a third of the world's oil export vessels pass through.
When asked about these Iranian threats, Shanahan said the U.S. will continue to be the guarantor of free navigation in international waters. He added that Washington also has the "ability to defend ships in the Strait of Hormuz" if diplomacy were to fail.