The explosive device used in the Manchester terror attack on Monday evening that has so far been responsible for 22 fatalities and dozens of injuries was worryingly sophisticated, according to a U.K.-based security expert. “The type of weapon is disturbing in some ways because a functioning bomb is actually a fairly sophisticated device to make,” Raffaello Pantucci, director of International Security Studies at the Royal United Services Institute (RUSI), told CNBC Tuesday. “There are easy bombs

An explosion in Manchester has killed at least 22 people and injured around 59 in a suspected terrorist incident. The blast occurred at the end of a concert of the American pop star Ariana Grande at about 10.35 p.m. local time (5.35 p.m. Scroll down to see scenes from Manchester after the suspected terror attack.

Expectations of an extension of an oil production cut agreement by the Organization of the Petroleum Exporting Countries and major producers led by Russia are supporting prices, but there are risks for a renewed surplus later next year, Goldman Sachs analysts wrote in a report published on Monday. “A nine-month extension would normalize OECD inventories by early 2018, in our view, but we see risks for a renewed surplus later next year if OPEC and Russia’s production rises to their expanding capa

PMI data on tapShortly after the market opens on Tuesday, advance Purchasing Managers’ Index data will be reported for the month of May. Federal Reserve meeting minutesThe Federal Open Market Committee is scheduled to issue meeting minutes Wednesday afternoon, and Caron is considering the Federal Reserve a critical theme for the markets at this juncture. Chinese market dataMovement in Chinese stock markets will be on Caron’s radar this week. “China has been a harbinger of things to come, and wha

Monday’s suspected suicide attack on Manchester Arena was likely yet another lone-wolf incident rather than the work of international terror networks, according to one political analyst. “It is highly unlikely that this is part of some coordinated attack from overseas,” Richard Fenning, global CEO at political consultancy Control Risks, told CNBC. He added that the priority was to establish whether he was acting alone or as part of a network. “The nature of modern terror attacks in Europe is ent

Britain’s political parties have agreed to suspend election campaigning until further notice following an explosion in Manchester that killed at least 22 people at a concert by U.S. singer Ariana Grande. May said earlier that the incident in the northern English city was being treated as a terrorist attack and that authorities were working to establish the details of the blast. “I am horrified by the horrendous events in Manchester last night,” Corbyn said. “My thoughts are with families and fri

At least 22 people were killed and about 59 others were injured in what British Prime Minister Theresa May called “an appalling attack” after an Ariana Grande concert Monday night at Manchester Arena in England, authorities said. A senior White House official told NBC News that President Donald Trump, who is on a visit to Jerusalem, had been briefed on the incident. Multiple senior U.S. law enforcement officials briefed by British authorities told NBC News that forensic evidence at the scene — i

Traders are also watching President Trump’s overseas trip to the Middle East and Europe. Clifton said it’s unusual for a president to be traveling overseas when their budget is introduced. Sinche said Trump could start to win back some confidence if his meetings overseas go well. Comey reportedly has said Trump asked him to end the investigation into Michael Flynn, Trump’s former national security advisor. The Trump budget is expected to include a $54 billion bump in defense spending.

The White House is seeking to slash federal spending by $3.6 trillion over the next decade through steep cuts across most agencies and tough new restrictions on aid to the poor — a dramatic rethinking of the role of government in the American economy. It also includes previously announced double-digit spending cuts next fiscal year for the Environmental Protection Agency, the State Department and the Education Department, among others, and eliminates popular institutions such as the National End

The automaker’s new CEO will be Jim Hackett, former chief executive of Steelcase and currently chairman of the autonomous vehicles unit at Ford. Huntsman – U.S.-based Huntsman and Switzerland’s Clariant are combining in a more than $14 billion merger of specialty chemical companies. PPG Industries – Akzo Nobel shareholders are taking the Dutch paint maker to court over its rejection of a $29.5 billion takeover bid from PPG. Elliott Advisors is leading the effort to convince judges to order a pro

TEL AVIV, Israel — President Donald Trump arrived in Tel Aviv on Monday, hoping to help push forward what he’s described as the “ultimate deal” — peace between Israelis and Palestinians. In his welcoming remarks to Trump, Netanyahu said “Israel’s hand is extended in peace to all of our neighbors, including the Palestinians.” “We do not have a greater friend than Donald Trump,” Netanyahu told reporters after a meeting with him at the White House in February. Monday’s flight — direct from Riyadh t

President Donald Trump spoke of the potential to broker peace in the Middle East on the second stop of his first foreign visit. In an address just after Air Force One landed in Tel Aviv, Israel, Trump described a “rare opportunity to bring security and stability and peace to this region and to its people.” Speaking just before Trump, Israeli Prime Minister Benjamin Netanyahu said that, “the peace we seek (in the Middle East) is a genuine one.” Israeli President Reuven Rivlin said that the “Middl

In a shake-up reflecting the pressures on the American auto industry, Ford Motor is replacing its chief executive, Mark Fields, according to officials briefed on the move. Jim Hackett, who oversees the Ford subsidiary that works on autonomous vehicles, will take the reins from Mr. Fields. Ford plans to make an announcement on Monday morning, the officials said. More from the New York Times:Ford Moves to Trim Its Ranks as Its Chief Faces a TestKilling C.I.A. The change came less than two weeks af

“It doesn’t mean that that’s necessarily going to happen, but negative projection is an enemy of the market at times like this,” explained Stoltzfus. The markets regained all of the day’s losses by Friday, leading Stoltzfus to emphasize the strong fundamentals that he says will ultimately drive stocks higher. “The market ultimately goes with the economy,” he explained. In other words, the President’s policy proposals, including his highly-anticipated tax reforms, were actually adding on to what

Cloud Computing covered the 1 3/16 miles in 1 minute, 55.98 seconds, paying $28.80. He abruptly slowed — finishing eighth — and Cloud Computing made his move down the stretch. Castellano made his move at the right time, then steadied Cloud Computing down the lane as the horses stretched for the finish line. It was Castellano’s first time on Cloud Computing, an inexperienced colt who didn’t run last year due to injury. He and Brown devised a plan to go to the rail (Cloud Computing was in the No.

U.S. private equity firm Blackstone and Saudi Arabia’s main sovereign wealth fund said on Saturday they planned to create a $40 billion vehicle to invest in infrastructure projects, mainly in the United States. Blackstone and the Public Investment Fund (PIF) signed a non-binding memorandum of understanding for the project, which will depend on further negotiations. The proposed venture was announced during the visit to Riyadh of President Donald Trump, who has said he wants to rebuild crumbling

Google recently launched its personal assistant, Google Assistant, on the iPhone. We’ve found it to be much smarter than Siri and, to prove it, we recently put it head-to-head with Apple’s assistant. We asked Google Assistant and Siri the same questions to give you an idea of what you can expect from both. It wasn’t much of a competition. Check it out here:

Bitcoin climbed above $2,000 for the first time Saturday on increased demand from Japanese and Chinese investors. The digital currency rose more than 4.5 percent to hit an all-time high of $2,061.88, according to CoinDesk.com. Japan accounted for nearly 55 percent of trade volume, up from near 40 percent Thursday, according to CryptoCompare.com. Bitcoin jumped near $1,900 Thursday amid reports of possible political scandal in the U.S. and Brazil that sent traders looking for safe assets. Some an

News out of Washington seemed to have a direct impact on Wall Street this week. On Wednesday, the Dow Jones Industrial Average fell 373 points, the biggest single drop of the year and the worst day since September, while the Nasdaq had its biggest drop since June. “It came as a bit of a shock this week to see this move,” J.P. Morgan Asset Management chief global strategist David Kelly told CNBC’s “On the Money” in an interview. With some investors getting nervous, it raises the question of wheth

Stocks recovered on Friday from their biggest selloff of the year, and market watcher Nick Colas has a suggestion for investors who may be anxious about another pullback. Convergex’s chief market strategist suggested that instead of running away from the market whenever stocks fall, investors should instead keep buying the dips until a sudden 2 percent drop. In a note released Thursday morning, Colas mentioned that if investors are wondering if it’s safe to buy another dip in the market, they on