Business News

  • Baby Boomers Are Getting Too Old for Sports Cars

    Baby boomers are starting to outgrow their midlife crisis years, and that’s bad news for automakers who want to sell sports cars.

    Bloomberg q
  • New NYC law, San Francisco lawsuit highlight global risks for Airbnb

    SAN FRANCISCO/BERLIN (Reuters) - Airbnb, the online lodging service that investors now believe is worth $30 billion, faces a reckoning. "Throughout the country, people representing cities have called me to ask what's going on with the litigation," he said.

  • Why Alibaba is a great speculative buy

    Alibaba is up 28% year to date -- less than 6% from its all-time high.

    The Street q
  • WHY IT MATTERS: Wall Street Regulation

    WASHINGTON (AP) — THE ISSUE: The financial crisis that struck in 2008 touched off the worst recession since the 1930s Great Depression, wiping out $11 trillion in U.S. household wealth and leaving about 8 million Americans jobless. More than 5 million families lost their homes to foreclosure. Reckless trading and aggressive practices on Wall Street in the prior boom years were pinned with much of the blame.

    Associated Press
  • Nordea chairman says merger with ABN Amro would create 'fine bank'

    A merger between Sweden's Nordea and Dutch state-owned lender ABN Amro would make "a pretty fine bank," and early talks may continue after a March 2017 election in the Netherlands, Nordea chairman Bjorn Wahlroos said on Saturday. In an interview with Finnish public broadcaster YLE, Wahlroos confirmed he had recently discussed a possible merger with representatives from the Dutch finance ministry and the Netherlands Financial Investments (NLFI), the state agency that holds a majority of ABN shares. Following local media reports on Nordea's approach earlier this month, ABN and the Dutch government said they were not looking for a buyer.

  • Trump attorneys seek to bar his campaign comments at trial

    SAN DIEGO (AP) — In an unusual legal maneuver, Donald Trump's attorneys have asked a federal judge to exclude any statements made by or about the Republican nominee during the presidential campaign from his upcoming civil trial over the now-defunct Trump University.

    Associated Press
  • Taliban release drone footage of suicide attack

    By Zainullah Stanekzai LASHKAR GAH, Afghanistan (Reuters) - Afghanistan's Taliban have released drone footage showing a suicide bomber driving a Humvee into a police base in Helmand province and blowing it up this month. An Afghan government official said the video posted online appeared to be authentic. The use of video taken by a drone is unusual for the Taliban but more common among the more media-savvy Islamist groups fighting in Iraq and Syria.

  • China to allow coal output hike to meet winter demand - state planner

    China will allow coal mines in areas with short supply to increase their production to help cope with an expected increase in demand for heating and power during winter and spring, the state planner said. Coal mines that are currently under construction will also be encouraged to complete construction and begin production of coal, the National Development and Reform Commission (NDRC) said on its website on Saturday, citing a meeting held on Friday to discuss energy supply and demand during the colder seasons. China's electric power utilities are scrambling to get coal from anywhere they can, but are coming up short as efforts to boost supply take time to come into effect.

  • Indian bank authorities say 3.2 million debit cards hacked

    Indian banks scrambled Friday to contain the damage after finding that more than 3.2 million debit cards may have been hacked. Several banks, including the government-run State Bank of India, advised customers ...

    Associated Press
  • South China Sea is a political powder keg

    This strategic waterway is a $5 trillion route for global trade. It also has a treasure trove of energy reserves China may soon begin to tap. China’s military buildup in the region may have something to do with securing this black gold.

    CNBC Videos
  • U.S. hopeful it can win Russia's agreement on Antarctic Ocean deal

    By Ben Gruber PALO ALTO, Calif. (Reuters) - After repeated failed attempts to establish an Antarctic Ocean sanctuary, the United States is hopeful it can sway Russia to agree to a plan that would protect a vast swath of what marine scientists call the most pristine body of water left on Earth. The Commission for the Conservation of Antarctic Marine Living Resources (CCAMLR) is meeting in Hobart, Australia, in a bid to find consensus for a deal to conserve and manage the marine ecosystems in the Antarctic Ocean, also known as the Southern Ocean. “We hope to bring Russia on board,” Evan Bloom, the head of the U.S. delegation, said in an interview on Friday.

  • Docs lay out media recommendations for kids, teens

    By Andrew M. Seaman (Reuters Health) - The quantity and quality of media children and teens consume should change with their age, according to new guidelines from the American Academy of Pediatrics. The organization also says parents should oversee children's media consumption and educate them about proper media engagement. "The big picture message is that parents have a huge role to play as guides and mentors for their young children about what technology means," said Dr. Jenny Radesky, who led the crafting of the new guidelines for young children.

  • Thai junta says Google removing content with royal insults

    Thailand’s government met with representatives from Internet giant Google, amid growing calls from Thai hardline royalists to bring those who insult the monarchy to justice, as many Thais look with uncertainty to a future without their revered king. King Bhumibol Adulyadej’s death on Oct. 13 has thrown the country of 67 million into mourning. It has also led to the rise of ultra-royalist vigilante groups who say they will punish anyone perceived to have insulted the monarchy during a highly sensitive time for Thailand.

  • Wall Street Journal offers all news employees option to take buyouts: memo

    "We are seeking a substantial number of employees to elect this benefit, but we reserve the right to reject a volunteer based on business considerations," wrote Gerard Baker, the newspaper's editor in chief. A spokeswoman at Dow Jones declined to comment. Earlier this week, Dow Jones & Co Chief Executive William Lewis announced a three-year plan to cut costs in response to a decline in print advertising.

  • Mississippi woman appeals dismissal of suit over jail stay

    A Mississippi woman is appealing a federal judge's decision that being jailed for 96 days without seeing a judge didn't violate her constitutional rights.

    Associated Press
  • AT&T agrees in principle to buy Time Warner for $85 billion: sources

    AT&T Inc has reached an agreement in principle to buy Time Warner Inc for about $85 billion, sources said on Friday, paving the way for what would be the biggest deal in the world this year, giving the telecom company control of cable TV channels HBO and CNN, film studio Warner Bros and other coveted media assets. The deal, which has been agreed on most terms and could be announced as early as Sunday, would be one of the largest in recent years in the sector as telecommunications companies look to combine content and distribution to capture customers replacing traditional pay-TV packages with more streamlined offerings and online delivery. AT&T, which sells wireless phone and broadband services, has already made moves to turn itself into a media powerhouse, buying satellite TV provider DirecTV last year for $48.5 billion.

    TWX $89.48 7.82%
  • Washington's next biotech target?

    CNBC's Meg Tirrell reports the latest surrounding Ariad Pharmaceuticals and the company's drug price hike.

    CNBC Videos
  • GE cuts year revenue target on oil, gas weakness, has third quarter profit beat

    General Electric Co scaled back expectations for its full-year revenue and profit on Friday, overshadowing third-quarter profit that beat analyst forecasts and sending its shares lower. Weak global economies and low oil prices hit the industrial giant's sales of oil and gas infrastructure equipment especially hard. This limited GE's organic revenue growth, which excludes acquisitions, to just 1 percent in the quarter.

  • Motor racing-Vettel more focused on car than contract

    By Alan Baldwin AUSTIN, Texas, Oct 20 (Reuters) - Ferrari's Sebastian Vettel put talk of a contract extension to one side on Thursday and emphasised that his main priority was to help the team build a better car to take on dominant Mercedes. Formula One's most successful and glamorous team have yet to win this season, after four-times world champion Vettel enjoyed three victories last year, and are third in the standings behind Red Bull. Vettel, 29, will be in the final year of his contract next season, when the rules undergo a major shakeup, but he said there was no hurry to get a new deal wrapped up.

  • Pzena on Seagate & energy

    Richard Pzena, Pzena Investment Management, shares his stock-picking strategy.

    CNBC Videos