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Business News

Monday, Oct 15, 2018 at 02:43 PM EDT

US Budget Deficit Expands to $779 Billion in Fiscal 2018

US Budget Deficit Expands to $779 Billion in Fiscal 2018

The U.S. federal budget deficit rose in fiscal year 2018 as spending climbed, the Trump administration said Monday. The deficit jumped to $779 billion, $113 billion higher than the previous fiscal period,...

Monday, Oct 15, 2018 at 11:51 AM EDT

Bottle of Wine Sells for a Record $558,000

Bottle of Wine Sells for a Record $558,000

A 73-year-old bottle of French Burgundy became the most expensive bottle of wine ever sold at auction, fetching $558,000. The bottle of 1945 Romanee-Conti sold at Sotheby's for more than 17 times its original...

Monday, Oct 15, 2018 at 02:27 PM EDT

Trump Administration Eyes Military Bases for Coal, Gas Exports

Trump Administration Eyes Military Bases for Coal, Gas Exports

The Trump administration is considering using West Coast military bases or other federal properties as transit points for shipments of U.S. coal and natural gas to Asia as officials seek to bolster the domestic...

Monday, Oct 15, 2018 at 10:22 AM EDT

Sears Through the Years: From Watch Seller to Tower Builder

Sears Through the Years: From Watch Seller to Tower Builder

Sears got its start as a watch seller more than 130 years ago and grew to become one of the world's largest retailers. But the company has struggled in recent years and on Monday filed for Chapter 11 bankruptcy....

Monday, Oct 15, 2018 at 02:51 PM EDT

Sears Files for Chapter 11 Amid Plunging Sales, Massive Debt

Sears Files for Chapter 11 Amid Plunging Sales, Massive Debt

Sears filed for Chapter 11 bankruptcy protection Monday, with plans to shutter 142 unprofitable stores in the hopes that it can stay in business. The question now is whether a smaller version of the company...

Sunday, Oct 14, 2018 at 11:34 PM EDT

Sears Ready to File Bankruptcy, Struggles to Stay Alive

Sears Ready to File Bankruptcy, Struggles to Stay Alive

Sears Holdings plans to file for bankruptcy protection after midnight in the East Coast, culminating the collapse of what was once America's largest retailer, people familiar with the situation tell CNBC. As...

Saturday, Oct 13, 2018 at 04:16 AM EDT

Trump's Business Ties to Saudi Kingdom Run Long and Deep

Trump's Business Ties to Saudi Kingdom Run Long and Deep

President Donald Trump's ties to Saudi Arabia run long and deep, and he's often boasted about his business ties with the kingdom. "I love the Saudis," Trump said when announcing his presidential run at Trump...

Saturday, Oct 13, 2018 at 12:48 AM EDT

Prospect of China Talks Raises Hope for Thaw in Trade War

Prospect of China Talks Raises Hope for Thaw in Trade War

With China and the United States opening the door to a meeting next month between Presidents Xi Jinping and Donald Trump, hopes are rising for a potential easing of tensions in the trade war between the world's...

Friday, Oct 12, 2018 at 02:09 PM EDT

Elon Musk's Tesla Seeks to Trademark 'Teslaquila'

Elon Musk's Tesla Seeks to Trademark 'Teslaquila'

An April Fool's joke may become a reality for billionaire entrepreneur Elon Musk. Tesla's CEO teased a Tesla-branded tequila earlier this year as part of a ruse on social media. On Monday, the company...

Friday, Oct 12, 2018 at 12:29 PM EDT

Cryptocurrencies Continue Plunge With Another $6 Billion of Value Wiped Out in a Day

Cryptocurrencies Continue Plunge With Another $6 Billion of Value Wiped Out in a Day

Over $6 billion was wiped off global cryptocurrency markets in a day, led by XRP and ethereum as prices of digital coins continued to fall. The entire market capitalization or value of cryptocurrencies had...

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