United Airlines CEO Oscar Munoz issued an apology on Tuesday amid outrage over passenger Dr. David Dao of Kentucky being dragged off an overbooked flight. “The truly horrific event that occurred on this flight has elicited many responses from all of us: outrage, anger, disappointment. No one should ever be mistreated this way,” Munoz said in a statement. Also Tuesday, attorneys for Dao issued a statement on behalf of the doctor and his family. “The family of Dr. Dao wants the world to know that

As quarterly earnings season kicks into gear this week, no sector will be more important than banks. On the surface, there’s reason for optimism: Profits are expected to be robust enough that the group will show the sharpest gains of any of the 11 S&P 500 sectors. For the quarter, banks as a particular group should show 10 percent earnings growth over the same period in 2016, while financials broadly probably grew 14.3 percent, according to FactSet projections this week. However, that will tell

The dollar languished at a five-month low versus the yen early on Wednesday, as simmering geopolitical tensions checked risk appetite and put the safe-haven Japanese currency in favor. The dollar was at 109.745 yen after touching 109.535 earlier in the session, its lowest since Nov. 17. The U.S. currency had slid more than 1 percent the previous day from highs of 110.920, dragged down by a sharp drop in U.S. Treasury yields. “There was a lot of bids and option barriers lined up around 110 yen, s

Gold climbed to a 5-month high on Wednesday after gaining nearly 2 percent the session before, with investors shifting to safe-haven assets on rising tensions over U.S. relations with Russia and North Korea. Spot gold had edged up 0.1 percent to $1,274.91 per ounce by 0311 GMT, after earlier hitting its strongest since Nov. 10 at 1,279.80. Heightened tensions in the Korean peninsula and Middle East following U.S. strikes on Syria, along with the upcoming French presidential election, have left i

Oil prices rose on Wednesday, putting crude futures on track for their longest streak of gains since August 2016, as Saudi Arabia was reported to be lobbying OPEC and other producers to extend a production cut beyond the first half of 2017. Brent crude futures, the international benchmark for oil, were at $56.40 per barrel at 0117 GMT, up 17 cents, or 0.3 percent, from their last close, their highest since early March. If Wednesday’s price rises hold, they would mark the seventh straight daily i

Asian markets closed mixed on Wednesday, as tensions continue to ratchet up on the Korean Peninsula following a warning from North Korea of a nuclear attack on the U.S.North Korean state media said on Tuesday that the hermit state was watching every move made by “enemy elements” and that its “nuclear sight (was) focused on the U.S. invasionary bases.” The development takes place as a U.S. aircraft carrier group makes its way toward the western Pacific following multiple missile launches from Nor

Page, who was previously a former investment banker in Moscow, was believed to have acted “as an agent of a foreign power, in this case Russia,” U.S. officials told the newspaper. The Foreign Intelligence Surveillance Act (FISA) warrant was one of the strongest pieces of evidence that indicated a Trump adviser was in touch with Russian agents during the 2016 presidential campaign, the Washington Post said. Page has denied any wrongdoing, according to the report. Read the full story here.

President Donald Trump said he intends to repeal Obamacare before moving on to tax reforms, Fox News Insider reported Tuesday from a discussion between the president and Fox Business News. “We’re going to have a phenomenal tax reform [plan], but I have to do health care first,” the president said in a preview of the interview, which is scheduled to air in the U.S. on Wednesday. Trump and the GOP House leaders last month cancelled a planned vote on the American Health Care Act, which was the Repu

Chinese social media has exploded with outrage after a video went viral showing a passenger who appeared to be of Asian ethnicity being dragged off an overbooked United Airlines flight with a bloodied nose. The topic, #UnitedAirlinesforcespassengeroffplane, has held strong as a top trending topic over the last two days on Weibo, China’s answer to Twitter. “The boycott starts with me,” posted one online user, BJ Shizilu, along with a photo of his shredded Mileage Plus card. Another said, “Whether

For Wal-Mart shoppers, it will soon pay to go to the store. Price cuts will vary depending on the product’s size, cost and category, Marc Lore, president and CEO of Walmart U.S. eCommerce, told CNBC. Wal-Mart shoppers will snag a bigger discount on inexpensive but heavy items, which are costlier to ship than small products that carry a high price tag, Lore said. The discounter has meanwhile taken steps to fuse its online technology with shoppers’ store visits. At that same conference, Wal-Mart a

Investors should buy Hess shares because its energy production levels will improve later this year, according to Bank of America Merrill Lynch, which reiterated its buy rating and added the company to the firm’s US1 best ideas list. “We believe the inflection point in Hess’ investment case is just around the corner, with the broader sector pullback positioning the shares with amongst the highest upside in the sector as implied by our price objectives,” analyst Doug Leggate wrote in a note to cli

A measure of market volatility is finally starting to rise as traders spooked by the latest geopolitical headlines buy protection from a drop in the S&P 500. Fear of a possible government shutdown later this month is also putting traders on edge. But history shows some exchange-traded funds thrive when tensions rise on Wall Street. If the VIX was to follow the same trajectory and climb 5 points to 20, some ETFs should post gains. Using hedge fund analytics tool Kensho, CNBC PRO found almost 40 o

President Donald Trump plans to spend $1 trillion on infrastructure over the next decade, but exactly what that will look like has yet to be revealed. However, Axios thinks the White House is looking for ideas in a recent UBS report. Trump met on Tuesday with around 20 executives of major companies like General Motors and IBM in an effort to ramp up support for the infrastructure initiative. Per the UBS report — written by Tom McLoughlin, Mike Ryan and Justin Waring of UBS — the No. 1 priority o

Canada is celebrating its 150th anniversary this year, and Bank of Canada is celebrating by going old school. If you head over to Bank of Canada’s webpage on the new Canadian commemorative bank note and enter the famed Konami Code, you’ll get a rousing 8-bit rendition of “O Canada” accompanied by a downpour of the new $10 bills. “The Bank of Canada’s web team thought the Konami code was a fun way to celebrate Canada’s 150th anniversary of Confederation,” a spokesperson for Bank of Canada told CN

If you’re only thinking about your career in terms of what you have to get done this week, you’re not planning your future — you’re just working a job. With the daily demands workers have to manage, it’s easy to become exclusively focused on the short-term. But according to Eric Schmidt, executive chairman of Google’s parent company Alphabet and former CEO, that’s an error that could be preventing you from getting the most out of your professional life. “I find almost everybody, including myself

Ride services company Lyft has raised $600 million in fresh funding, one of its investors said on Tuesday. Private equity firm KKR & Co said it had joined a $600 million financing round, giving a sizeable financial boost to San Francisco-based Lyft as it continues to compete fiercely with rival Uber Technologies Inc.Sources close to Lyft said last week the company was close to completing a funding round that would value the firm at $7.5 billion, a sharp increase from the $5.5 billion valuation a

The executive order on border security emphasizes urgency to achieve complete operational control of the southern border. FLIR, a company that specializes in the production of thermal imaging cameras as well as components and imaging sensors already has a presence on the border wall. Thermal imaging technology has been recognized as a very powerful tool in that mission in that it operates day or night” outgoing FLIR CEO Andrew Teich said to CNBC in an interview. “A lot of those questions are rea

According to an internal email from Uber CEO Travis Kalanick, the company’s high-profile head of communications and policy Rachel Whetstone is departing. “I wanted to let you know that Rachel Whetstone, who heads up policy and communications globally, has decided to leave Uber,” wrote Kalanick. Here is Kalanick’s entire email:Team – I wanted to let you know that Rachel Whetstone, who heads up policy and communications globally, has decided to leave Uber. Rachel is passing the reins over to her l

The PC market isn’t bleeding out on a gurney after all. It noted the PC shipments increased 0.6 percent year over year during the first quarter of 2017. In fact, earlier models suggested that the PC market was going to continue its downward spiral with a decline of 1.8 percent during the quarter. The company said notebook shipments helped stabilize the PC market in EMEA. The PC market isn’t as lively as it once was, though.

In February, the Nikkei business daily reported that Toshiba asked bidders to peg the memory unit’s operations’ value at 2 trillion yen (about $18.26 billion) or more. Memory business, regardless of how it will come out, will be sold in some form to some entity, whether it’s foreign or Japanese.” Shareholders’ equity was negative 225.7 billion yen ($-1.9 billion) by the end of December. Several suitors are eyeing the NAND memory business, and Ito said it was likely the unit would be sold within