President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
The meeting comes amid months of stalled trade talks between Washington and New Delhi, resulting in both sides taking retaliatory measures.Asia Politicsread more
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
Russia's top mobile operator MTS defended its decision to allow China's Huawei to build out its 5G networks but will continue to work with other firms, the company's CEO said Friday.
In an interview with CNBC's Geoff Cutmore at the St Petersburg International Economic Forum (SPIEF), MTS CEO Alexey Kornya said Huawei is "fully qualified" to provide infrastructure for Russia's next-generation wireless networks. The statement directly contracts warnings from U.S. officials that Huawei's 5G software and equipment poses a national security threat.
"Every country has its own right and capabilities to identify whether that or different types of the equipment represent certain concerns," Kornya said. "In this sense Huawei is fully qualified to be in our networks."
Kornya added MTS is also working with Sweden's Ericsson and Finland's Nokia on 5G technology saying "all three major vendors are represented in our network." Huawei is the world's largest provider of telecommunications equipment, followed by Nokia and Ericsson, according to research firm Dell'Oro Group.
"In business thinking you always balance between vendors and you don't want to fall into dependency from one vendor," he said.
The Trump administration has put Huawei on a blacklist, warning its equipment poses security risks because it could open a backdoor for Chinese spying. U.S. officials point to Chinese laws that appear to require domestic companies to assist the government in intelligence gathering when the communist party in Beijing requests it. Huawei has repeatedly denied it would engage in any form of espionage.
MTS announced this week it had signed a deal with Huawei to hold test launches of new 5G networks this year and in 2020. Chinese President Xi Jinping is attending the forum as part of a three-day state visit to Russia, where he called President Vladimir Putin his "best friend." China's commerce ministry reportedly said Thursday that Beijing and Moscow had signed more than $20 billion of deals to boost economic ties in areas such as technology and energy during the visit.
Asked whether MTS was put under pressure to sign the Huawei deal this week, Kornya replied "absolutely no."
5G is designed to bring faster speeds and lower lag times than previous wireless networks. It has touted as a potential game-changer for industries like driverless cars and remote surgeries that require quick, reliable internet connections.