President Donald Trump is expected to push back a decision on whether to impose tariffs on European Union automobile imports for another six months, Politico reported Monday, citing a person familiar with the decision. The Trump administration has until Wednesday to decide whether to slap import tariffs on cars and auto parts. The White House declined CNBC’s request for comment on Politico’s report. The Office of the U.S. Trade Representative did not immediately provide comment. The auto tariff

A one-of-a-kind Patek Philippe watch sold for $31 million at a charity auction in Geneva, making it the most expensive wristwatch ever auctioned. The steel Patek Philippe Grandmaster Chime Ref. 6300A-010 smashed the previous record for an auctioned watch — the $17.7 million fetched in 2017 for the Rolex Daytona once owned by Paul Newman. The Patek was sold as part of the Only Watch auction in Geneva held by Christie’s to benefit research on Duchenne muscular dystrophy. The fact that the sale was

UAE Minister of State and ADNOC Group CEO, Sultan Ahmed al-Jaber, speaks during the Abu Dhabi International Petroleum Exhibion and Conference (ADIPEC) on November 13, 2017, at the Abu Dhabi National Exhibition Centre. The Abu Dhabi National Oil Company (Adnoc) and nine of the world’s largest energy traders have partnered with the Intercontinental Exchange (ICE) to set up the world’s first Murban crude oil futures contracts. ICE Futures Abu Dhabi (IFAD) and ICE Murban futures are slated for launc

His mediation efforts could now be needed more than ever, as the French President Emmanuel Macron seems to have lost patience in dealing with his German colleagues. Macron fought hard to show that it was not true that Germany was using its strong economic position to reinforce its EU’s political dominance. He also proposed measures to anchor France and Germany into a quasi-irreversible European institutional structure. Predictably, France’s high unemployment, rising poverty, social unrest and ne

Stand for Hong Kong.” Men walk past a poster at an NBA exhibition in Beijing, China October 8, 2019. “There is great concern in the United States about what is going on in Hong Kong,” Rice said. We can’t tell the people of Hong Kong we are going to do something we can’t do, that we’re somehow going intervene in Hong Kong. Hong Kong currently operates under the “one country, two systems” principle where Beijing gives Hong Kong’s citizens some legal and economic freedoms that it denies people on m

A visitor tries out Lenovo augmented reality glasses with the Star Wars Jedi Challenges during the Mobile World Congress in Barcelona, Spain, February 26, 2018. Yves Herman | ReutersMost of the biggest names in Big Tech are racing to create smart glasses that we wear everywhere and that may replace our phones. Advocates of the technology hope that you’ll one day be able to replace every screen in your life with just one pair of smart glasses. Those functions could all work on a set of smart glas

Billionaire investor Mark Cuban suggested in a series of weekend tweets that the proposed wealth tax from 2020 presidential candidate Sen. Elizabeth Warren, D-Mass., “diverts attention from reality” and is designed to hide her own wealth from the public. Cuban, who owns the Dallas Mavericks of the NBA, highlighted Warren’s income and net worth, which at $12 million puts her squarely among the top 1% in America. Warren’s net worth is actually in fourth place in the Democratic field, behind billio

Former Uber Technologies CEO and co-founder Travis Kalanick walks on the floor of the New York Stock Exchange during the company’s IPO May 10, 2019. Uber co-founder and director Travis Kalanick sold more than half a billion dollars worth of stock last week after the company’s lockup period expired. The company’s market value is now about $45 billion, down from nearly $70 billion at the end of its first trading day. Kalanick still directly owns more than 75 million shares in Uber, according to th

A steepening yield curve is a positive sign for growth, and those sectors are closely linked to cyclical performance of the economy. “I would say as the yield curve steepens, it has a positive impact on equity prices on a relative basis. He looked at relative return going back 10 years, vs. the 2-year to 10-year yield curve. The yield curve steepens when interest rates on longer duration bonds are higher than on the shorter duration and the spread between them gets wider. At that point, the 3-mo

The hope is that AR can be the next major computing platform that replaces phones, computer screens, televisions and more with a pair of smart glasses. The first headset will be big, according to the Information, which said it will be similar in size to Facebook’s large Oculus Quest virtual reality headset. Apple’s headset and glasses will use cameras for augmented reality, similar to what’s already available on modern iPhones and iPads, the report said. Apple plans to reduce the size of that wi

Asia Pacific markets saw losses throughout the region by Monday afternoon, as shares in Hong Kong tumbled amid worsening tensions in the city. In Hong Kong, the Hang Seng index was deep in negative territory, declining 2.62% by the close as political turmoil in the city worsened. Sectors across the board in the Hang Seng index tumbled, including property developers, tech, financial, as well as gaming stocks. On the earnings front, Singapore’s DBS Bank reported a stronger-than-expected rise in it

The data marks a rebound from the second-quarter gross domestic product (GDP) which contracted by 0.2%. On a year-on-year basis, third-quarter growth slowed to 1%. Walker said there had been some modest growth in retails sales and he had hoped this might prop growth up a little more. “Underlying growth in the U.K. is clearly below trend,” he said before adding that when accounting for Brexit-related swings in production, the data looked “a little bit tepid.” The Bank of England said last week th

European leaders need to “wake up” and act amid a “considerable” risk that the European Union will disappear in the future, French President Emmanuel Macron has warned in an interview with The Economist. The bloc emerged in the wake of World War II with the aim of avoiding conflict and bringing economic prosperity to the region. “I don’t think I’m being either pessimistic or painting an overly gloomy picture when I say this. According to the French president, the EU has been too focused on growi

Outgoing European Central Bank (ECB) executive board member Benoit Coeure will lead a new unit at the Bank of International Settlements (BIS) focused on financial technology like digital currencies, the group announced Monday. Coeure was tapped to run the BIS’ new “Innovation Hub,” which was set up earlier this year to understand how technology is affecting central banks around the world. The BIS, known as the central bank of central banks, is based in Basel, Switzerland. It is owned by 60 centr

Movie director Woody Allen and Amazon’s content arm have settled a $68 million legal battle after the U.S. company canceled a contract at the start of this year. But in papers filed Friday, the two parties agreed the case should be dismissed, according to an AP report. Allen’s daughter Dylan Farrow accused her father of molesting her in an attic in 1992 when she was 7 years old, an allegation Allen has repeatedly denied. Allen’s company, Gravier Productions, got an international release for “A R

A protester attempts to pick up a teargas canister fired by police during a demonstration on November 10, 2019 in Hong Kong, China. Protests in Hong Kong took a violent turn Monday, heightening an already volatile situation days after a group of pro-democracy lawmakers was arrested in the city. In one incident, a Hong Kong protester is in critical condition after being shot by police on Monday morning local time. Speaking at an afternoon press conference, Hong Kong police said the incident occur

Bryan Bedder / Stringer | Getty ImagesCondoleezza Rice, the former United States Secretary of State, said on Monday the ‘global order’, or rule-based system of international relations created by the U.S. and its allies after World War Two, was in a “somewhat dangerous and chaotic” state. Headlining a CNBC-moderated panel on “Political Risk in the 21st Century” at the Adipec oil and gas conference in Abu Dhabi, Rice told the audience that “the global order is suffering a period of dislocation, I

Bloomberg | Bloomberg | Getty ImagesU.S. shale oil production has shown some signs of moderation in recent months and production growth could be slowing, but experts told CNBC at Abu Dhabi’s influential oil & gas summit that the U.S. shale revolution won’t be stopped any time soon. The agency said the U.S. will start exporting more crude oil and petroleum products than it imports by the final quarter of 2020, and then would remain a net oil exporter for years to come. The net exporter status com

European stocks traded lower Monday morning amid a dampening of optimism over U.S.-China trade, after U.S. President Donald Trump denied that he had agreed to roll back tariffs on Chinese goods. The pan-European Stoxx 600 was down around 0.2% in morning trade, with basic resources shedding 1.9% as most sectors and major bourses traded in the red. Hopes of trade progress rose on Thursday when China’s Commerce Ministry said Beijing and Washington had agreed to lift existing tariffs on one another’

However, according to the latest CNBC Invest in You survey, two-thirds of respondents think one is coming. More than two-thirds of respondents said they believe the economy is going to weaken going into 2020. Right now, the economy is strong, giving President Donald Trump a healthy push going into next year’s election. Those are the big questions for Americans who want to know when the stock market is going to shrink. And when they say “market drop” they mean “recession.”