President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
The meeting comes amid months of stalled trade talks between Washington and New Delhi, resulting in both sides taking retaliatory measures.Asia Politicsread more
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
Some operators are cashing in on the CBD craze by substituting cheap and illegal synthetic marijuana for natural CBD in vapes and edibles such as gummy bears, an AP...Health and Scienceread more
Huawei dropped one of its lawsuits against the U.S., after equipment seized by Washington nearly two years ago was returned to the company.
In September 2017, U.S. authorities confiscated the gear which was on its way back to China from a Huawei testing facility in California. The equipment was not returned to Huawei, and the Chinese technology giant filed a lawsuit against the U.S. Commerce Department, as well as several other government agencies, in June.
The seizure was in relation to whether the gear required a specific license to be shipped back to China. Huawei contended that it did not.
In August, nearly two years after the gear was seized, Huawei said it was informed by the U.S. government that no export license was required to ship the equipment back to China. The Chinese telephone-equipment maker said the gear had been returned. As such, the Chinese firm dropped the case.
"After a prolonged and unexplained seizure, Huawei has decided to drop the case after the US government returned the equipment, which Huawei views as a tacit admission that the seizure itself was unlawful and arbitrary," Huawei said in a press release on Tuesday.
The company claimed that it had "landed a de facto victory" despite its voluntary dismissal of the lawsuit. Still, the Chinese firm said it was "disappointed by the fact that the U.S. government has failed to provide any explanation for unlawfully withholding Huawei equipment for so long."
Washington claims that Huawei equipment is a national security risk as it could be used by the Chinese government to spy on Americans. Huawei has repeatedly denied those claims.
But the U.S. has continued to pile the pressure on Huawei.
In December, the company's chief financial officer Meng Wanzhou was arrested in Canada at the request of the U.S. in relation to allegations that she and Huawei committed wire fraud in order to avoid American sanctions on Iran. She faces extradition to the U.S.
Earlier this year, Huawei was put in a blacklist, known as the Entity List, which restricts American companies from selling products to the Chinese firm.
Huawei has tried to fight back through legal means.
In March, Huawei said it was suing the U.S. over a law that bans government agencies from buying the Chinese technology giant's equipment, claiming the legislation is unconstitutional. And in May, Meng's lawyers sought a stay of her extradition.