Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are underappreciated.Marketsread more
Shares of MasterCard are up 46% this year, and 1120% since 2011, getting a boost from the strong U.S. consumer.Investingread more
CNBC sat in on an "empathy training" at Amazon PillPack's Somerville offices, which is part of new hire orientation.Technologyread more
Trade with China is the 'big unknown' for the Federal Reserve as it decides how best to support the U.S. economy, says Council on Foreign Relations Director of International...Futures Nowread more
Lobbying experts said the visit is likely an attempt to be in lawmakers' ears as they consider legislation that would impact Facebook.Technologyread more
Yardeni Research's Edward Yardeni believes the U.S. economy is picking up steam.Trading Nationread more
Iran's audacious drone and cruise missile attack on Saudi Arabia's oil producing facilities has provided a critical test yet for the Trump administration's foreign policy. A...Politicsread more
(Recasts, adds investigation, quotes from launch)
July 11 (Reuters) - An investigation is under way after a European Vega rocket failed after take-off, destroying a military observation satellite as it was about to be placed in orbit for the United Arab Emirates, European space authorities said on Thursday.
The Italian-built launcher blasted off from a space port in French Guiana at 10:53 pm local time on Wednesday (0153 GMT on Thursday), carrying the FalconEye1 earth observation satellite with a reported value of several hundred million dollars.
Some two minutes into the flight, controllers began reporting signs that something had gone wrong shortly after ignition of the second stage, according to a launch webcast.
"The trajectory is very degraded," a mission controller said, while an official commentator reported a loss of telemetry data from the rocket, operated by Europe's Arianespace.
Despite efforts to reconfigure the launcher from the ground, Arianespace later confirmed it had suffered a "major anomaly" and apologized to the UAE for the loss of its payload.
"The European Space Agency and Arianespace immediately decided to appoint an independent inquiry commission," ESA and Arianespace said in a joint statement.
It was the first such failure of a Vega rocket, which is sponsored by the European Space Agency for missions in low earth orbit and has carried out 14 previous missions.
The launch had twice been postponed due to bad weather.
Further Vega launches have been suspended pending the investigation, but preparations for the next launch of the larger Ariane 5 rocket are going ahead, Arianespace said.
FalconEeye1 was the first of two military reconnaissance satellites due to be launched for the UAE armed forces this year under a co-operation agreement between the UAE and France.
UAE officials were not available for comment.
Thinly traded shares in Italian aerospace company Avio Aero , which built the Vega launcher and the propulsion motor used in the second ignition stage, fell nearly 15%.
Airbus and Thales Alenia Space, a joint venture between France's Thales and Italy's Leonardo , built the FalconEye1 satellite, whose value has not officially been disclosed.
Vega launches are marketed by Arianespace, a pan-European launch firm controlled by ArianeGroup, which is a joint venture between Airbus and French engine maker Safran. (Reporting by Silvia Recchimuzzi in Gdynia, Tim Hepher in Paris. Editing by Jane Merriman and Alexandra Hudson)