Mario Longhi, CEO of United States Steel, says China is "dumping" steel due to over-production.» Read More
EBay announced today that Chinese internet firm Tom Online will take over its auction Web site in China. Some analysts are viewing that as a failure on eBay’s part to successfully penetrate the market there. EBay’s foray into the online retail space with eBay Express hasn’t panned out either. Sales on that companion site during this holiday season – and overall, for that matter –have been lagging expectations. Does eBay have any growth left in it?
Melco PBL Entertainment started trading on the Nasdaq today. The gambling company--based in Hong Kong--has generated $1.14 billion dollars so far, and it priced at $19, above its opening range. Co-Chairmen Lawrence Ho and James Packer said on “Squawk on the Street” that with only six operating licenses available in the Chinese territory of Macau...
Despite global inequalities and current-account deficits, the global economy did better than expected this year. World gross domestic product may come in at 5% for 2006. Not bad considering the 45-year average is 3.7%. Morgan Stanley Chief Global Economist Stephen Roach was on “Closing Bell,” and he says the same growth isn’t guaranteed next year.
China is buying 4 nuclear reactors from Westinghouse (acquired this year by Japan's Toshiba). Sounds like a big win for American technology. But critics are concerned that the U.S. is selling off its competitive and technical edge. On today’s “Power Lunch” Bill Griffeth asked “When it comes to American ingenuity – are we giving away the store?”
U.S.-based Westinghouse Electric has won a two-year battle for a multibillion-dollar nuclear power deal with China, edging out French and Russian rivals.
The former Reagan Administration economic adviser and president of China’s Mundell International University of Entrepreneurship speaks with CNBC’s Tyler Mathiesen about the rise of Chinese capitalism.
After an eight-year ban on direct sales, China is allowing beauty-products maker Avon to return to its trademark door-to-door selling. Fred Alger economist Zachary Karabell says 300,000 Avon ladies – and men – are making their way back to Asia to bring Shine Supreme lip color and Daring Curves mascara to the masses.
With Fed Chairman Ben Bernanke pushing China for currency and economic reform – investors could see a stronger yuan influencing their portfolios. On today’s "Morning Call," Sue Herera looked at the investment opportunities with Robert Hormats, the Vice Chairman of Goldman Sachs International who sees opportunities in retail.
U.S. Treasury Secretary Henry Paulson said Friday that China has pledged greater exchange rate flexibility but gave no timetable as the two sides wrapped up high-level talks aimed at strengthening shaky relations.
As we've told you--CNBC's Carl Quintanilla was part of the crew covering the just ended American-Chinese economic talks in Beijing. His reports appeared on "Squawk Box" (see our earlier post today). Here are his personal and behind the scene comments on the trip. If you're a fan of big cities, you're a fan of Beijing...
U.S. Treasury Secretary Henry Paulson met with Chinese President Hu Jintao in Beijing today, on the second and last day of what has been billed as a long-range "strategic economic dialogue" between the two powerful nations. CNBC’s Carl Quintanilla is traveling along with the U.S. delegation.....
Our quote of the day comes from shipping magnate Aristotle Onasis: "The secret of business is to know something that nobody else knows." We're letting you know what's going on in China--with the American and Chinese economic talks. CNBC's Carl Quintanilla is on the scene with the latest today.....
China must accelerate the pace of economic reforms, U.S. Treasury Secretary Henry Paulson said after the first day of talks between the two nations in Beijing, but his Chinese counterpart warned change will take time.
As we've said (with CNBC's Carl Quintanilla's on-the-scene reports), U.S. Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke are in China this week. They're addressing issues the Bush administration - and Democrats for that matter – have with China's monetary and trade policies. To some here in the states, that’s the problem...
The first day of talks between the U.S. and China has ended--and we have more from CNBC's Carl Quintanilla in China. Earlier--we told you about the two countries battling over currencies. The U.S. wants the yuan to appreciate higher. China's not so sure it wants to let that happen--though the yuan did trade at it's highest level today since 2005.
Matt Cuddy is the CNBC Washington Bureau News Director on assignment in China with "Squawk Box" host Carl Quintanilla--covering the U.S. and Chinese economic talks. Here are his "behind the scene" impressions of the trip so far: On our first night in Beijing we walked around Tiananmen Square to burn off some jet lag. We met a couple young elementary school teachers who heard us speaking English....
There’s a new technology from China that some people claim, could kill the DVD market as we know it. On "Squawk Box", CNBC’s Becky Quick investigated this new technology – and how rapidly it could appear in the U.S. According to Jim Burger, Director of the DVD Association, China's major audio-video publishers have formed an alliance to facilitate something called the EVD – a competitor to the High Definition DVD.
U.S. Treasury Secretary Henry Paulson and other top American officials are in Beijing this morning for trade talks, appealing to Chinese leaders to help preserve U-S support for free trade. CNBC’s Carl Quintanilla is following all the developments closely and updated the “Squawk Box” crew this morning, also from Beijing.
U.S. stocks are heading lower this morning as oil prices climb on OPEC developments. Today's headlines from OPEC, brokerage profits, and takeover activity will all get attention but stocks are looking for direction as a year of strong gains begins to wind down. Asian stocks closed higher, with Japan at a seven month high on the weakening yen. European stocks are higher.
Our quote of the day comes from the late stage and film actress Tallulah Bankhead: "If I had my life to live again, I'd make the same mistakes, only sooner." There's no mistaking OPEC's latest move--as the oil organization seems to have agreed to cut production by some 500,000 barrels a day in February.