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
Trump said Cook made a "good case" that it would be difficult for Apple to pay tariffs, when Samsung does not face the same hurdle because much of its manufacturing is in...Technologyread more
Kudlow pointed to strong retail sales and low unemployment as signs that the U.S. economy remained strong.Marketsread more
The yield on the benchmark 10-year Treasury note briefly fell below the 2-year rate on Wednesday, a phenomenon in the bond market known as yield curve inversion, which is...Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
The MacBook Pro recall and its subsequent ban from flights underscores the increasing brand risk from problems with lithium-ion batteries.Technologyread more
Experts say the timing of Amazon executives' contributions to Rep. David Cicilline likely reflect the company's heightened urgency over growing regulatory scrutiny.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
Coinbase security chief Philip Martin explains, "Possession of a key is possession of your currency. What that means is that you can't revoke a cryptocurrency key, if that key...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
PeroxyChem@ (Adds comment from Evonik)
WASHINGTON, Aug 2 (Reuters) - The U.S. Federal Trade Commission said on Friday it was suing to stop Evonik Industries AG's proposed purchase of rival hydrogen peroxide maker PeroxyChem Holding Company, citing concerns that the deal would lead to higher prices.
The $625 million sale by group One Equity Partners, announced in November, is aimed at giving Evonik above-average growth rates of around 6% in the hydrogen peroxide and peracetic acid markets.
Evonik and PeroxyChem said in a statement that they would fight the lawsuit.
"It is disappointing that the FTC has taken this step to block the acquisition in the highly competitive hydrogen peroxide industry," said Christian Kullmann, chairman of the executive board of Evonik, in a statement. "We remain optimistic that we will prevail at trial and complete the acquisition."
Kullmann described PeroxyChem's products as complementary to Evonik's rather than competing with them. In the statement, the companies said closing of the deal would be delayed until late 2019.
Hydrogen peroxide is used primarily as a bleaching agent in the paper industry and also as a disinfectant for food processing or for wastewater treatment, the FTC said in its complaint.
The FTC said the proposed acquisition would leave just one other hydrogen peroxide supplier in the Pacific Northwest. In the southern and central United States, four suppliers would remain after the merger but Evonik would control nearly half the production capacity, the FTC said in its complaint.
Since hydrogen peroxide is expensive to ship, companies tend to try to buy locally, the FTC said. (Reporting by Diane Bartz; editing by Richard Chang and Cynthia Osterman)