While most management teams that have warned of a revenue hit said they don’t expect any impact to full-year figures, many expect a drag in the first quarter. Nearly one in five S&P 500 companies have said China’s virulent coronavirus will impact their revenues or profits, underscoring the far-reaching toll the disease is expected to take on businesses around the world. “We also expect that there will be an impact on future bookings in China, especially in the immediate aftermath of the illness.

Her comments come after the Justice Department brought new charges against Huawei, accusing it of racketeering and plotting to steal trade secrets from U.S. companies. Pelosi’s hard stance against Huawei represents one of her few areas of agreement with President Donald Trump. The Trump administration is working to isolate Huawei from developing a larger foothold in U.S. partner countries. Last month, the Trump administration expressed disappointment after the U.K. announced it would allow Huawe

Thomas Kurian, the incoming head of Google Cloud and formerly president of product development at Oracle, speaks at the Oracle OpenWorld conference in San Francisco on Sept. 24, 2013. Google is restructuring its Cloud group internally, which will include eliminating some roles, a Google spokesperson confirmed to CNBC. “We made the difficult, but necessary decision to notify a small number of employees that their roles will be eliminated.” The restructuring comes as CEO Thomas Kurian has been at

The proposal, one of many new tax cuts under consideration, would see a portion of household income treated as tax-free for the purposes of investing outside a traditional 401(k). “Nothing’s ruled out,” said one senior administration official. The White House publicly has been pointing to the package as a new shot of adrenaline in an economy whose growth shows signs of slowing 10 years into an expansion. A payroll tax cut would become an option only if the economy experienced significant decline

Adrian Peterson is heading to arbitration against Morgan Stanley Wealth Management over an investment dispute, the latest entry in a series of financial issues for the 34-year-old NFL star. Brokerage houses and investment advisors often have clients agree to private arbitration to resolve disagreements. Peterson reportedly has earned more than $100 million over the course of 12 years with the NFL. He is representing Peterson, along with Sam Edwards and Ryan Cook of Shepherd Smith Edwards & Kanta

Expedia Chairman Barry Diller told analysts he’s determined to reset the travel company’s “all life and no work” corporate culture, since he took over the company following an executive shakeup last December. On Expedia’s fourth-quarter earnings call Thursday, Diller compared Expedia’s work-life balance to fellow Seattle-based tech company Amazon, which he said was the opposite. By comparison, Expedia has become “sclerotic and bloated” as the company lacked focus and direction, Diller said. “Ama

According to Barclays, it just might be edible insects. A new report by the investment bank cites the expanding market around the alternative protein source and predicts the edible bug industry could be worth $8 billion by 2030, up from a little under $1 billion just last year. Making eating bugs funBut edible bugs can be a hard sell, especially in the United States. Dogs in the U.S. consume over 32 billion pounds of protein each year, said Carlson, who has dogs of her own. The Food and Drug Adm

Kurt Suzuki #28 of the Washington Nationals celebrates after hitting a walk-off home run to beat the New York Mets at Nationals Park on September 3, 2019 in Washington, DC. Washington Nationals catcher Kurt Suzuki said this week there’s “no question” the Astros cheated in the 2019 World Series, despite claims that the team stopped its sign-stealing scheme after the 2018 season, The Washington Post reported on Thursday. The Astros held a news conference on Thursday to address the illegal sign-ste

Hollywood has long tried to capitalize on the financial success and cultural relevance of video games by turning them into feature-length films. Unfortunately, there has always seemed to be something lost in translation between the game controller and the theater. These films have tended to make back their production budgets — so studios keep making them — but fail to become as beloved as the video games they’re based on. With a 65% “Fresh” rating on Rotten Tomatoes from 98 reviews, “Sonic” is c

Unlike standard ads, there are no audience targeting options for branded content, according to Facebook. “After hearing from multiple campaigns, we agree that there’s a place for branded content in political discussion on our platforms.” But the company said it has decided that concern isn’t relevant for branded content since Facebook doesn’t provide payments through the branded content tool. The spokesperson did not immediately clarify when the policy was changed, but The Verge reported that Fa

egadolfoI signed up recently for a clothing subscription service called NUULY. Our subscriptions can have a powerful hold on us, according to a study published this month in the Journal of Consumer Research. “Sometimes that’s aspirational, but a lot of brands are really effective at creating meaningful associations that aren’t just about money.” The subscription market has grown by more than 100% each year over the last five years, and rakes in $2.6 billion annually, according to research by McK

Wall Street used to be full of traders. Buying and selling stocks or bonds used to happen on the phone, in person or in the packed trading pits in Chicago, New York and London. Now, they’re losing money on trading operations and laying off scores of traders. The shift to electronic trading and passive investing are big culprits behind the trend, squeezing profits in the trading business to razor-thin margins. Watch the video above to learn more about what’s behind the decline of Wall Street’s lu

YouTube says it paid the music industry more than $3 billion last year. “YouTube offers twin engines for revenue with advertising and subscribers, paying out more than $3 billion to the music industry last year from ads and subscriptions,” YouTube CEO Susan Wojcicki said in a blog post Friday. The latest figure hints at how much of the Alphabet-owned company’s ad revenue goes back to music industry and creators. YouTube broke out ad revenue numbers for the first time in its fourth quarter earlie

President Donald Trump’s former National Security Adviser Michael Flynn leaves the E. Barrett Prettyman U.S. Attorney General William Barr has ordered a review by an outside prosecutor of the criminal case against President Donald Trump’s first national security advisor, Michael Flynn, who is awaiting sentencing for lying to FBI agents. Flynn originally was charged by special counsel Robert Mueller, who was tasked by the Justice Department with investigating Russian interference in the 2016 pres

Other companies at the meeting, according to two people familiar with the matter, included representatives from Facebook, Amazon, Twilio, Dropbox, Alphabet’s Google, Verizon, Salesforce, Twitter and YouTube. Vitamin C also pops up via searches on the largest retailers, including Amazon, because of false reports that it can cure the coronavirus. Some of the priorities that tech companies have outlined in recent weeks include efforts to work with third-party fact checkers and public health organiz

Dozens of elite business leaders have joined Mike Bloomberg’s “army” of surrogates in a bid to help him win the Democratic presidential nomination. Since Bloomberg, who has a net worth of about $60 billion, is self-funding his campaign, the support from these business leaders could take money off the board for other Democratic candidates. Garcia added he believes Bloomberg has the best chance to beat President Donald Trump out of all the other Democratic primary contenders. A spokeswoman for the

Receipts at clothing stores dropped 3.1% last month, the most since March 2009, the Commerce Department said Friday. A slew of retailers had already issued their holiday sales results, for November and December, citing weakness in apparel specifically. “It doesn’t surprise me that apparel is struggling,” Retail Metrics founder Ken Perkins said. Retail earnings for the holiday quarter are just kicking off, with Walmart set to report Tuesday morning. And companies ranging from Ralph Lauren to Unde

Activist investor Dan Loeb and his hedge fund Third Point, which has racked up 14% annual returns since 1996, aggressively shifted positions in major tech stocks last quarter. Third Point bought 70,000 shares of Amazon, a position worth roughly $129 million at the end of the fourth quarter quarter, according to a securities filing. However, it dissolved positions in Microsoft and PayPal that had been worth more than $360 million combined. Loeb is one of the financial world’s most high-profile ac

Seth Klarman, chief executive officer of The Baupost Group LLC, listens during an interview in New York, June 8, 2018. (This story is for CNBC Pro subscribers only.) Billionaire manager Seth Klarman’s Baupost Group has drawn comparisons to Warren Buffett for his disciplined and patient value style. His hedge fund manages about $30 billion as of 2019 after racking up years of market-beating returns, though he’s struggled a bit as of late.

(This story is for CNBC Pro subscribers only.) Jana Partners’ Barry Rosenstein is a top activist investor in the industry who famously pushed Whole Foods into the arms of Amazon. The hedge fund impressed investors with double digit returns in the years following its inception in 2001, however, it has seen lackluster performance recently. Rosenstein oversees about $5 billion as of 2019. Here are his latest stock picks…including a bet on a small medical supply company.