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cnbc.com
CNBC is an American pay television business news channel that is owned by NBCUniversal Broadcast, Cable, Sports and News, a division of NBCUniversal, with both being ultimately owned by Comcast.Source
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Trump says the U.S. will cut ties with World Health Organization

Trump says the U.S. will cut ties with World Health Organization

Keep Me Logged InKey PointsPresident Donald Trump announced Friday that the United States will cut ties with the World Health Organization."China has total control over the World Health Organization despite only paying $40 million per year compared to what the United States has been paying, which is approximately $450 million a year," Trump said during a news conference in the White House Rose Garden."The world needs answers from China on the virus. We must have transparency. Why is it that China shut off infected people from Wuhan to all other parts of China?" he added. "It didn't go to...

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Michael Flynn transcripts released, calls with Russian diplomat detailed

Michael Flynn transcripts released, calls with Russian diplomat detailed

Keep Me Logged InKey Points between former national security advisor Michael Flynn and Russia's then-ambassador to the United States weeks before President Donald Trump's inauguration were publicly released Friday.Flynn, a retired Army lieutenant general, pleaded guilty in December 2017 to lying to the FBI about his conversations with the Russian ambassador to the U.S. at the time, Sergey Kislyak.Earlier this month, the Department of Justice moved to drop its case against Flynn.Trump's new director of national intelligence, John Ratcliffe, after lawmakers of both parties requested...

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Trump may punish China — but it won't be very damaging, says Chinese economist

Trump may punish China — but it won't be very damaging, says Chinese economist

Keep Me Logged InKey PointsTrump 'can't do much' in revoking Hong Kong's special trade status, expert saysU.S. President  could punish Beijing for eroding Hong Kong's autonomy and other human rights abuses — but his options won't be very damaging to China, said a leading Chinese economist on Friday.under American law, which treats the territory more favorably than the mainland, and has so far exempted the Asian financial hub from punishing tariffs that the U.S. has imposed on China. Observers say the U.S. can revoke that special status for Hong Kong and that would hurt China, which relies...

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Sen. Ted Cruz calls for criminal investigation of Twitter over alleged sanction violations

Sen. Ted Cruz calls for criminal investigation of Twitter over alleged sanction violations

Keep Me Logged InKey PointsSen. Ted Cruz, R-Texas, called on the Treasury and Justice Departments to launch a criminal investigation into for alleged violations of U.S. sanctions against Iran. In on Friday to Attorney General William Barr and Treasury Secretary Stephen Mnuchin, Cruz centered on the accounts of Ali Khamenei, the supreme leader of the Islamic Republic, and Iranian Foreign Minister Javad Zarif. Twitter allows top Iranian leaders to have accounts on its platform, which Cruz says violates sanctions in place to prevent providing services or goods to the nation's...

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Stock futures point to little change on Wall Street ahead of Trump's U.S.-China news conference

Stock futures point to little change on Wall Street ahead of Trump's U.S.-China news conference

Keep Me Logged InStock futures slipped early Friday morning as traders braced for an upcoming news conference on U.S.-China relations from President Donald Trump. dipped 127 points, implying a Friday opening dip of around 25 points. and also pointed to a near flat open for the two indexes. Trump said Thursday afternoon he would hold the news conference, knocking stocks down from solid gains. That announcement came after China approved a national security bill for Hong Kong that experts warn could endanger the city's "one party, two systems" principle. That principle allows for additional...

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Both Trump and Biden have criticized Big Tech's favorite law — here's what Section 230 says and why they want to change it

Both Trump and Biden have criticized Big Tech's favorite law — here's what Section 230 says and why they want to change it

Keep Me Logged InKey PointsPresident Donald Trump is the latest politician to go after a law that has long protected the tech industry.The White House is expected to unveil a new executive order Thursday that would direct federal agencies to exercise greater oversight and regulations related to , according to a .The move would bring greater scrutiny to social media companies like and , whom conservatives have repeatedly accused of exerting political bias in their content removal processes. The companies have denied claims of censorship and constructed lengthy policies to explain the factors...

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2d ago
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Nordstrom sales fall 40%, but retailer says it has 'sufficient liquidity' to weather pandemic

Nordstrom sales fall 40%, but retailer says it has 'sufficient liquidity' to weather pandemic

Keep Me Logged InKey Points's net sales fell 40% during its fiscal first quarter, the company said Thursday, but the department store chain is confident it remains in a strong financial position to work through , unlike some of its struggling peers. Department store operators Neiman Marcus, J.C. Penney and Stage Stores have all filed for bankruptcy protection during the crisis.  is selling $1.3 billion of new debt to raise additional liquidity. This group of retailers was already struggling prior to the pandemic, with fewer shoppers frequenting malls and apparel sales shrinking. Then...

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Lauren Thomas
2d ago
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American Airlines plans 30% reduction of management, administrative staff

American Airlines plans 30% reduction of management, administrative staff

Keep Me Logged InKey Points is planning to cut 30% of its management and support staff, a reduction of about 5,000 jobs, because of the toll is taking on the business, the company told employees Wednesday.The airline also started offering buyouts to these employees and said it plans to offer new voluntary leave and buyouts for frontline staff, such as flight attendants, next month, according to a company memo that was viewed by CNBC."Although our pre-pandemic liquidity, the significant financial assistance provided by the government, and the cash we've raised in the capital markets provide...

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Leslie Josephs
2d ago
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Climate change is driving widespread forest death and creating shorter, younger trees

Climate change is driving widespread forest death and creating shorter, younger trees

Keep Me Logged InKey PointsForests across the world are transforming as the Earth heats up and as more frequent and severe droughts, wildfires and disease outbreaks destroy trees.In a new report published in Science magazine, researchers warn that climate change is accelerating the death of trees, stunting their growth and making forests across the world younger and shorter."This trend is likely to continue with climate warming," said Nate McDowell, a scientist at Pacific Northwest National Laboratory and an author of the report."A future planet with fewer large, old forests will be very...

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Emma Newburger
2d ago
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Elon Musk earns first performance-based payout from Tesla, worth more than $700 million

Elon Musk earns first performance-based payout from Tesla, worth more than $700 million

Keep Me Logged InKey Points confirmed that CEO earned the first tranche of his massive incentive payout, in a document filed with the Securities and Exchange Commission on Thursday.The tranche is comprised of about 1.7 million shares of Tesla, and would be valued around $775 million based on Thursday's closing market value. Shares in Tesla closed at $805.81 on Thursday, and the options have a strike price of $350.02., which also set a date of July 7 for the company's annual shareholders meeting, said:"As of the date of this proxy statement, one of the 12 tranches under this award has vested...

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Lauren Feiner
2d ago
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Another 2.1 million file jobless claims, but total unemployed shrinks

Another 2.1 million file jobless claims, but total unemployed shrinks

Keep Me Logged InKey PointsInitial jobless claims total 2.123 million for week ending May 23First-time claims for unemployment benefits totaled 2.1 million last week, the lowest total since the coronavirus crisis began though indicative that a historically high number of Americans remain separated from their jobs.Economists surveyed by Dow Jones had been looking for 2.05 million. The total represented a decrease of 323,000 from the previous week's upwardly revised 2.438 million.Continuing claims, or those who have been collecting for at least two weeks, numbered 21.05 million, a clearer...

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Jeff Cox
2d ago
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Who is the happiest working from home? Here's what latest jobs market data says

Who is the happiest working from home? Here's what latest jobs market data says

Keep Me Logged InKey PointsAfter two months or more of shelter-in-place rules, some workers are starting to grapple with what might be an uncomfortable realization: maybe they're happier working from home. In the latest , remote workers have a Workforce Happiness Index score of 75 out of a possible 100, topping the 71 among those who have continued to show up at workplaces. On nearly every question related to work satisfaction, those staying home report more positive measurements.Remote workers are more likely than those who have been going into the office during the outbreak to describe...

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Laura Wronski
4d ago
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Goldman Sachs says the only other commodity 'looking as precarious as oil' is livestock

Goldman Sachs says the only other commodity 'looking as precarious as oil' is livestock

Business News and FinanceVIEW IN APPA Facebook iconA Twitter iconA LinkedIn iconAn email iconKEY POINTS The head of commodities research at believes the two big commodity stories looking ahead to 2021 and beyond will concern oil and livestock. The forecast comes at a time when the coronavirus pandemic has prompted many countries across the globe to effectively shut down. It has created an unprecedented demand shock in energy markets, with U.S. oil prices for the first time ever last month.Both major oil benchmarks have registered modest gains in recent weeks. However, Brent crude futures...

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Sam Meredith
May 13
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China approves controversial national security bill for Hong Kong

China approves controversial national security bill for Hong Kong

Keep Me Logged InKey PointsChina's National People's Congress, the country's parliament, on Thursday approved the proposal to impose a new national security law for Hong Kong — paving the way for the legislation to be finalized and implemented in the city.The NPC voted 2,878 to 1 in favor of the bill, which will pave the way for its Standing Committee — a smaller decision-making body — to proceed to working out details of the legislation to be implemented in Hong Kong. Six abstained from the vote.Ahead of that decision, protests in Hong Kong reignited and large crowds came out in force...

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Yen Nee Lee
2d ago
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Pompeo declares that Hong Kong is no longer autonomous from China, threatening trade with U.S.

Pompeo declares that Hong Kong is no longer autonomous from China, threatening trade with U.S.

Keep Me Logged InKey PointsPompeo: Hong Kong no longer autonomous from ChinaSecretary of State Mike Pompeo reported to Congress on Wednesday that Hong Kong was no longer autonomous from China, a move that could jeopardize the special administrative region's favorable trade relationship with the U.S. and open up Chinese officials to sanctions. The State Department was required to issue a determination on Hong Kong's autonomy under pro-democracy legislation passed late last year. The law also requires the president to impose sanctions on foreigners who undermine "fundamental freedoms and...

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Tucker Higgins
3d ago
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Spain is deploying a basic income to citizens to ease the coronavirus impact

Spain is deploying a basic income to citizens to ease the coronavirus impact

Keep Me Logged InKey PointsSome Spaniards are about to receive additional financial help as the government pushes through the first nationwide basic income, but there are doubts the initiative will reduce high levels of unemployment and inequality.The Socialist-led coalition government will be spending about 3 billion euros ($3.29 billion) every year to support poorer citizens. The basic income is meant to reach 850,000 households and 2.5 million citizens. Spain has a population of about 46 million people. The plan to install a basic income was a pre-electoral promise, but it was...

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Silvia Amaro
3d ago
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California to allow hair salons and barbershops to reopen in majority of state's counties, Gov. Newsom says

California to allow hair salons and barbershops to reopen in majority of state's counties, Gov. Newsom says

Keep Me Logged InKey PointsCalifornia Gov. Gavin Newsom announced on Tuesday that he would ease the state's restrictions on barbershops and hair salons for some counties in the state that meet certain health criteria. The state, which issued one of the earliest statewide stay-at-home orders in mid-March, has been reopening its economy statewide in phases. The state is currently in phase two of its reopening plan, which has allowed for the resumption of retail businesses and manufacturing jobs with modifications. Counties in the state that , including less than 25 new cases per 100,000...

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Noah Higgins
4d ago
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Stocks break through a major milestone but failed to close above it on first try

Stocks break through a major milestone but failed to close above it on first try

Keep Me Logged InKey Points The S&P 500 broke into an important new zone Tuesday that could bullish for the market longer term, but it failed to hold onto that level and how it trades Wednesday could send an important signal.The actually crossed two key milestones when it opened above the psychological level of 3,000 for the first time since early March. But more importantly, it first broke above the 200-day moving average, a momentum indicator that signals the potential for a more bullish tone for the market. But the rally gave up steam, as tech sold off, and the S&P did not hold those...

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Patti Domm
4d ago
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How Britain's oldest universities are trying to protect humanity from risky A.I.

How Britain's oldest universities are trying to protect humanity from risky A.I.

Keep Me Logged InKey PointsOxford and Cambridge, the oldest universities in Britain and two of the oldest in the world, are keeping a watchful eye on the buzzy field of artificial intelligence (AI), which has been hailed as a technology that will bring about a new industrial revolution and change the world as we know it.  Over the last few years, each of the centuries-old institutions have pumped millions of pounds into researching the possible risks associated with machines of the future.Clever algorithms can already outperform humans at certain tasks. For example, they can beat the best...

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Sam Shead
5d ago
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Georgia is gearing up to resume TV and film production. Here are the guidelines for people on set

Georgia is gearing up to resume TV and film production. Here are the guidelines for people on set

Keep Me Logged InKey PointsGeorgia is eager to restart its lucrative TV and film production industry. On Friday it became the first state to release safety guidelines for shooting within the state.In the last decade, Georgia has become a hub for Hollywood. The state officers enticing tax incentives, is home to a skilled labor force and has earned a reputation for being a heavyweight in the entertainment industry. It's three major studios — Pinewood, Tyler Perry's Studio and Blackhall — have been the shooting grounds for "Jumanji: The Next Level," "Jungle Cruise," "Venom" and many of Marvel...

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Sarah Whitten
May 22
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Google will reimburse up to $1,000 for employees to buy work-from-home gear

Google will reimburse up to $1,000 for employees to buy work-from-home gear

Keep Me Logged InKey PointsGoogle will reimburse employees up to $1,000 to pay for equipment to help them work from home, CEO Sundar Pichai on Tuesday. He also detailed how the company will slowly reopen its offices, starting by rotating employees through offices at 10% capacity on July 6, and working up to around 30% capacity in September. This echoes statements Pichai made in May.The move shows how one of the world's most highly valued companies is attempting to bring back normal operations following the onset of coronavirus, which has to date and . Google was one of the first companies...

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Jordan Novet
3d ago
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Twitter refuses to delete Trump's baseless claims about Joe Scarborough

Twitter refuses to delete Trump's baseless claims about Joe Scarborough

Keep Me Logged InKey Points's policy is facing another test with President Donald Trump's latest tweets resurrecting baseless claims that MSNBC host Joe Scarborough should be investigated for the death of his former staffer.Earlier this month, Trump tweeted questions about when an investigation would be opened into the "Cold Case" of "Psycho Joe Scarborough." The unfounded accusation refers to the death in 2001 of Lori Klausutis, who was working for Scarborough when he was a Republican congressman for Florida. At the time, the medical examiner concluded Klausutis, 28, had fainted due to an...

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Lauren Feiner
4d ago
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Trump says he's no longer taking hydroxychloroquine

Trump says he's no longer taking hydroxychloroquine

Keep Me Logged InPresident Donald Trump said he had "just finished" taking a two-week course of the antimalarial drug , the medication he has vigorously promoted as a preventative or curative treatment for the , even as evidence piles up that the drug may cause more harm than good."Finished, just finished," he said in an that aired on Sinclair Broadcasting on Sunday"And by the way, I'm still here."The president again defended his decision to take, and talk about, the unproven treatment in the interview, amid Food and Drug Administration warnings against using the drug for...

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Jane C. Timm
5d ago
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Coronavirus live updates: Japan seeks to end state of emergency for Tokyo; Trump suspends travel from Brazil

Coronavirus live updates: Japan seeks to end state of emergency for Tokyo; Trump suspends travel from Brazil

Keep Me Logged InThe number of confirmed coronavirus cases globally rose above 5.4 million, data compiled by Johns Hopkins University showed. In Japan, the government is seeking to end the state of emergency for Tokyo and other areas while considering $1 trillion in fresh stimulus for the battered economy.Ahead of the Memorial Day holiday weekend, all states in the U.S. began to lift some restrictions implemented to halt the spread of the coronavirus. Government officials are still urging people to practice social distancing and to wear masks in public.  have contributed to some people...

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Huileng Tan
6d ago
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Dr. Anthony Fauci says staying closed for too long could cause 'irreparable damage'

Dr. Anthony Fauci says staying closed for too long could cause 'irreparable damage'

Business News and FinanceVIEW IN APPA Facebook iconA Twitter iconA LinkedIn iconAn email iconKEY POINTS Stay-at-home orders intended to curb the spread of the could end up causing "irreparable damage" if imposed for too long, White House health advisor Dr. Anthony Fauci told CNBC on Friday."I don't want people to think that any of us feel that staying locked down for a prolonged period of time is the way to go," Fauci said during an interview with CNBC's Meg Tirrell on "."He said the U.S. had to institute severe measures because cases were exploding then. "But now is the time, depending...

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Berkeley Lovelace Jr.
May 22
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