Britain will not "disengage" with emerging markets despite volatility and growth concerns over China, the country's finance minister told CNBC.» Read More
The People's Bank of China said on Tuesday it would raise its deposit rates by 27 basis points as of Wednesday "to stabilise inflation expectations."
After a run that has seen sizzling growth top 10 percent for four years, analysts say China's supercharged economy is facing strains that could break out into an upsurge of inflation.
The steep paper losses that China has suffered on its $3 billion investment in Blackstone Group will not deter its embryonic sovereign wealth fund from making further investments in private equity and hedge funds, according to a senior official.
It's been easy over the last few months to feel a bit sorry for Hank Paulson. He left Goldman Sachs, reluctantly, to lead President Bush's second-term Treasury in the belief that his skills might help solve two thorny problems: deteriorating political sentiment toward China's rising economic might, and the long-term insolvency of the U.S. entitlement programs as the Baby Boom generation heads toward retirement.
Covering market meltdowns is tough. Most people are affected in some way when the market plummets as it did Thursday -- and has been doing on a regular basis over the past month. ... For those covering it, it’s difficult to put aside the uncomfortable feeling that your portfolio is taking a major hit, even as you try to make sense of it all for our viewers. My first experience with this phenomenon occurred during the now-infamous crash of 1987.
Here's a business conundrum. When a bigger guy -- say the Chinese -- are effectively trying to put you out of business, what do you do?
China has sent the U.S. notices regarding pork shipments that may have contained ractopamine, a swine growth promoter used in the U.S. but banned in China, a U.S. Agriculture Department official said.
The Olympics is a failsafe for attracting advertisers to the NBC (sister company of CNBC) coverage, though the upcoming Olympics in Bejing may come with its own problems. Aready folks like Mia Farrow and Steven Spielberg have voiced concern over holding the Olympics in a country with such a poor human rights track record. But it's the Olympics after Bejing that may prove a disappointment.
The boss of a Chinese toy manufacturing company involved in a Mattel recall after its products were found to contain excessive lead levels has hanged himself, Chinese media reported on Monday.
One year from Wednesday, Aug. 8, the 2008 Olympic Games will begin in Beijing -- focusing the world's attention on China like never before. As part of our one-year countdown to the games, CNBC sent Darren Rovell and Melissa Lee to China for a series of special reports.
China's wholesale inflation rate unexpectedly slowed in July, showing cost pressures at the factory gate remain in check despite a food-related surge in consumer prices.
China's trade surplus shrank slightly to $24.4 billion in July from a record high of $26.9 billion in June as both exports and imports increased much faster than expected.
The revelation that a unit of French bank BNP Paribas temporarily suspended three of its funds injected new fear into the markets, driving global stock sharply lower and casting a fresh chill across credit markets. The market fallout from BNP has reignited market speculation that the Fed will move to cut rates sooner, rather than later.
Treasury Secretary Hank Paulson told CNBC that the U.S. economy remains healthy but troubles in the housing market may take some time to play out. Paulson also said he was not concerned with a recent report suggesting China may retaliate economically if the U.S. imposes trade sanctions to force a revaluation of the yuan.
The Fed's comments yesterday calmed some of the credit angst in the markets and set the stage for a move higher in global equities. U.S. stocks are positioned to trade higher this morning, and Cisco's strong earnings news is adding some punch to the Nasdaq.
There's a new video on the web that's sure to entertain skeptics of the Chinese auto industry. It's video of a car from China's Chery Automobile faring poorly in a crash test in Russia. For those who fear the Chinese auto industry hurting the Big 3, this video will give them the ammunition they need to take shots at the Chinese.
U.S. Treasury Secretary Henry Paulson warned on Tuesday it was a mistake for U.S. lawmakers to blame American job losses on global competition and use it as an excuse for passing protectionist trade laws aimed at China.
Stocks are finding their feet on higher ground this morning as a positive tone embraces equities markets worldwide. Oil continues to back down from the new high struck earlier this week.
I know. Why am I talking about this? You thought this was a sports business blog. Well, this week I've been trying to give you something a little bit different as I'm filing from Beijing. (Programming reminder: Next week, we're taking you behind the business of the 2008 Olympic games. You can watch my stories on CNBC or see them here on the Web site.) Anyway, back to my thought.
In a CNBC interview, Robert Eckert, chairman and chief executive of Mattel, said the company has taken "several immediate steps" to prevent any future incident like the recall of Chinese-made toys, yanked because of fears of lead-paint tainting.