Huawei CEO Ren Zhengfei tells CNBC the company's business is still strong in China.Technologyread more
The Fed is not likely to make a move on interest rates when it meets this week, but it should clear the way for a rate cut later in the summer.Market Insiderread more
U.S. President Donald Trump officially kicked off his reelection campaign Tuesday at a Florida rally where he exhorted thousands of rollicking supporters to keep advancing his...Politicsread more
BlackRock's global fixed income chief says the European Central Bank just turned up the pressure on the Federal Reserve to more toward easier policy.Market Insiderread more
Global watchdogs and top U.S. Congress members are calling for oversight of a digital asset being launched by Facebook and roughly two dozen other stakeholders.Marketsread more
Facebook's new cryptocurrency project, titled Libra and backed by the likes of Visa and Booking Holdings, is being widely embraced by market watchers.Trading Nationread more
Mortgage applications were down 3.4% from the previous week, but still up 31.6% from a year earlier, according to the Mortgage Bankers Association.Real Estateread more
Trump's remarks came a day before the Fed was set to announce its next decision on interest rates.Politicsread more
Sen. Josh Hawley, a well-known tech critic, introduced legislation on Wednesday that would remove the immunity big technology companies receive for user-posted content under...Technologyread more
Panera Bread has been testing a menu specifically for dinner and plans to expand the pilot to a new market next month.Restaurantsread more
Zuckerberg fell out of Glassdoor's top 20 CEO ranking for the first time, although his employee approval rate remains high.Technologyread more
Lawmakers need to strike a balance between calls for breaking up Big Tech and focusing more on data privacy regulation, former Federal Trade Commission Chairman William Kovacic told CNBC on Friday.
Massachusetts Sen. Elizabeth Warren — one of the many candidates seeking the 2020 Democratic presidential nomination — published a blog post in March called, "Here's how we can break up Big Tech," which outlined her approach to promote more competition in Silicon Valley.
"Big tech companies have too much power — too much power over our economy, our society, and our democracy," Warren wrote. "They've bulldozed competition, used our private information for profit, and tilted the playing field against everyone else. And in the process, they have hurt small businesses and stifled innovation."
"Warren is right to raise issues," said Kovacic, currently a professor at George Washington University's law school. "The more cautious, conservative approach from a number of Republicans and some Democrats is to temper the means we could use to address them. That could produce an acceptable result."
In a CNBC interview Monday, President Donald Trump accused Facebook and Google of colluding with Democrats against him. "I can tell you they discriminate against me," he added, reiterating a view among conservatives that tech companies are biased against Republicans.
Kovacic argued on CNBC on Friday that the extreme views on both sides of the political aisle can balance each other out and find a middle ground.
The investigations into anti-competition practices and privacy will help, he added.
The Department of Justice is reportedly investigating Google parent company Alphabet and considering a potential probe into Apple. The FTC has reportedly taken jurisdiction over looking into Facebook and Amazon.
"The simple fact that we have investigations and maybe lawsuits running by themselves has the effect of opening up opportunities for other companies to participate," Kovacic said.