Stocks should rally if the U.S. and China agree to new negotiations and a ceasefire in the trade war, but the economic impact of tariffs will continue.Market Insiderread more
More than 300 companies are talking to government officials in Washington about how detrimental the trade war is.Marketsread more
Powell stresses the central bank's independence in a speech that comes amid continuous pressure from the White House to cut interest rates.The Fedread more
In a text message, Grisham confirmed to CNBC that she will still be working for the first lady even as she takes on her new roles.Politicsread more
Acting Customs and Border Protection Commissioner John Sanders is resigning amid the furor over the Trump administration's treatment of migrant children.Politicsread more
NBC is taking the office back from Netflix as it seeks to bolster its own streaming service launching in 2020.Technologyread more
Wayfair employees plan to walk out tomorrow, after no action was taken in response to their opposition to the company supplying border detention camps with beds for children.Retailread more
Micron beat analyst estimates on earnings and revenue for its fiscal third quarter of 2019.Technologyread more
Omarosa Manigault Newman, who had been a senior advisor to President Donald Trump before her firing, was sued for allegedly failing to file required financial disclosures.Politicsread more
San Francisco on Tuesday became the first city in the country to ban e-cigarettes after city officials voted in favor of an ordinance that prohibits the sale of any...Health and Scienceread more
See which stocks are posting big moves after the bell on June 25.Market Insiderread more
Fiat Chrysler has withdrawn its merger proposal for French automaker Renault "with immediate effect," the board of Fiat Chrysler Automobiles announced Wednesday in a statement.
"It has become clear that the political conditions in France do not currently exist for such a combination to proceed successfully," the statement said.
Fiat Chrysler said it "remains firmly convinced of the compelling, transformational rationale of a proposal that has been widely appreciated since it was submitted."
The French carmaker's board met to consider the proposal late Wednesday. Nissan's two representatives on Renault's board were withholding their support as other board members were planning to submit favorable votes for the merger, Dow Jones reported.
Renault's board said in a press release late Wednesday the directors "were unable to take a decision due to the request expressed by the representatives of the French State to postpone the vote to a later Council."
The two automakers were exploring a merger in order to curb costs producing vehicles and combine resources. The merger would have created the world's third-largest automaker and would produce estimated sales of 8.7 million vehicles per year.
The French government said it wouldn't back the merger unless Nissan guaranteed that Renault's long-held alliance with Nissan would continue, sources told Dow Jones. Once the state requested a delay on the vote for the merger proposal, Fiat Chrysler withdrew.
French Finance Minister Bruno Le Maire said earlier on Wednesday that there was no reason to rush on the merger talks between the carmakers but emphasized that he wanted the deal to move forward.
"We should take our time to make sure that things are done well," Le Maire told BFM TV on Wednesday.