Trump said he doesn't see a recession after the bond market spooked investors and the Dow suffered its worst day of the year last week.Marketsread more
The U.K. prime minister prepares to meet his German and French counterparts this week.Europe Politicsread more
Amazon is raising seller fees for thousands of small and medium-sized businesses in France because of a new digital tax passed by the French government.Technologyread more
U.S. stock index futures point to a higher open on Monday morning as the White House sought to calm investors over growing concerns about the U.S. economy.US Marketsread more
Ahead of the deadline, U.S. President Donald Trump told reporters that Huawei was a national security threat.Technologyread more
Bianco Research's James Bianco suggests Wall Street is desperately looking for a signal that a 50 basis point cut is coming next month.Trading Nationread more
Baidu is gearing up to release its second-quarter earnings on Monday with the market expecting a sharp decline in profit.Technologyread more
Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
Stocks in Asia rose on Monday as U.S. Treasury yields bounced higher after plunging last week.Asia Marketsread more
The problem with tanking equities lies elsewhere, writes Michael Ivanovitch, because traders see no end to America's unfolding trade disputes with Europe and China.World Economyread more
Beijing wants to use reforms to support a slowing economy.China Marketsread more
John Chambers, who led Cisco for two decades including during the dot-com crash, said the social media giant needs to work aggressively to rebuild trust with politicians, regulators and the general public.
"Does Facebook reinvent itself? Does it deal with the very legitimate requests of government and citizens? Does it do the classics — are you visible, do you articulate the problems, do you get ahead of the regulators and respond to it, do you give regular updates and do you see the progress? If they do, they'll come through it fine," Chambers said Thursday on "Squawk Alley. "
The Federal Trade Commission fined Facebook $5 billion for its handling of user data, including the Cambridge Analytica scandal. Facebook also announced in its quarterly report that it is facing a separate FTC investigation focused on antitrust issues.
The Facebook-led project to create Libra, a new cryptocurrency, is also facing government pushback. Facebook executive David Marcus was grilled on Capitol Hill earlier this month by members of both parties concerned that the company was moving too quickly with the project.
Chambers, who now runs a venture capital firm, JC2 Ventures, said Facebook is going to be dealing with regulators for the next several years.
"This is a three-to-five-year challenge they're going to face," Chambers said.
The Department of Justice announced early this week that it is opening a broad inquiry into antitrust issues in technology but did not name specific companies. Chambers said the tech industry as a whole is facing a midlife crisis and needs to consider how it is impacting society.
"If the major tech companies don't focus on tech for good and a balance between traditional capitalism, if you will, and a social obligation to society on creating jobs, etc., there's going to be a lot of challenges, the most recent being privacy," Chambers said.
Chambers said the modern version of Microsoft would probably be the model for tech companies aiming to build trust with regulators and the general public. The Department of Justice prosecuted Microsoft for antitrust violations in the 1990s and early 2000s.
Current Microsoft CEO Satya Nadella has "done an amazing job of understanding government, fair requests, impact on citizens, impact on customers, and he's threaded that needle pretty well," Chambers said.