The EU opened a formal antitrust investigation into Amazon on Wednesday centered on how the e-commerce giant uses merchants' data.Technologyread more
Investors are keen to find out how looming interest rate cuts will impact the second biggest U.S. lender by assets.Financeread more
Turo is a peer-to-peer car-sharing firm that is often referred to as the Airbnb for cars.Technologyread more
Mortgage interest rates surged last week to their highest level in a month, and consequently homebuyers turned on their heels.Real Estateread more
Ascending triangle patterns have been appearing across the stock market, and they tend to be precursors to higher prices, says Miller Tabak's Matt Maley.Trading Nationread more
U.S. officials see the deal as a threat to NATO, for which Turkey provides the second-largest military.World Politicsread more
Google's services have been blocked in China for several years, but the company still has a business there, as the tech giant seeks to sell products to Chinese firms in...Technologyread more
China may have signaled it's going more hard-line on trade, but it could be a good thing, former U.S. negotiator Clete Willems told CNBC.World Economyread more
Support for U.S. President Donald Trump increased slightly among Republicans after he lashed out on Twitter over the weekend in a racially charged attack on four minority...Politicsread more
A key read on the industry, the Architecture Billings Index, fell into negative territory in June, according to the American Institute for Architects. Inquiries for new...Real Estateread more
While the vote served as a show of solidarity for Democrats, it recommended no substantive penalty against Trump.Politicsread more
Some of America's billionaires have a message for the next president of the United States: Tax us.
Nineteen billionaires and ultra millionaires including George Soros, Abigail Disney, Chris Hughes and members of the Pritzker family released a bipartisan letter on Monday asking the 2020 presidential candidates to support a tax on the American families with the largest fortunes.
"The next dollar of new tax revenue should come from the most financially fortunate, not from middle-income and lower-income Americans," the letter said. It was first reported by The New York Times.
A tax on America's wealthiest has been at the forefront of the 2020 election stage. Democratic presidential hopefuls Elizabeth Warren, Bernie Sanders, Pete Buttigieg, Beto O'Rourke and others have come out in support of a tax on the wealthiest Americans.
Earlier this year, Warren proposed a tax of 2% on wealth over $50 million and 3% on wealth over $1 billion. The proposal is estimated to generate nearly $3 trillion in tax revenue in the next decade.
The billionaire studded letter supports a moderate wealth tax on the top 10% of the richest 1% of Americans.
The letter said a wealth tax is a powerful tool for solving the climate-change crisis, another issue that has garnered much attention in the 2020 race. It also said the tax could grow the economy and help improve public health.
"This revenue could substantially fund the cost of smart investments in our future, like clean energy innovation to mitigate climate change, universal child care, student loan debt relief, infrastructure modernization, tax credits for low-income families, public health solutions, and other vital needs," the letter said.
The letter also calls a wealth tax "fair," "patriotic" and something that "strengthens American freedom and democracy."
In addition to the many billionaires that signed the letter, a CNBC survey this month found that most millionaires support a tax on wealth above $50 million. Fully 60% of millionaires support Warren's plan for taxing the wealth of those who have more than $50 million in assets, the survey showed.
Correction: This story has been updated to reflect that the letter calls for a wealth tax on the top 10% of the richest 1% of Americans. An earlier version misstated that percentage.