While the U.S. gave Huawei a 90-day reprieve, allowing American businesses to keep selling specific products to the Chinese firm, it also added more affiliates of the...Technologyread more
The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
United States Steel Corp will temporarily lay off hundreds of workers at its Great Lakes facility in Michigan in coming weeks, according to a filing the steelmaker made with...US Marketsread more
While Hong Kong leader Carrie Lam painted a bleak picture of the city's economy, she expressed hope that dialogue with protesters could provide "a way out."China Politicsread more
China's pursuit of the Middle East may spur growth in the Islamic finance sector.World Economyread more
Twitter and Facebook have suspended accounts believed to be tied to a state-backed disinformation campaign originating from inside China.Technologyread more
U.S. President Donald Trump and his former White House communications director Anthony Scaramucci have had a public falling out recently.Politicsread more
The report comes as Trump in recent days has lashed out over media reports about growing recession fears.Politicsread more
Beijing will lower borrowing costs for companies, but that may not boost the economy as much as some hope.China Economyread more
Stocks are bouncing higher but could be trapped in a range longer term, until there's a resolution of the trade wars.Market Insiderread more
Stocks in Asia mostly traded higher Tuesday afternoon as minutes from the Reserve Bank of Australia's July meeting were released. The People's Bank of China also published its...Asia Marketsread more
The standoff over funding the government and increasing the borrowing limit is "unlikely to change" Standard & Poor's AA plus rating on U.S. debt, S&P's managing director and lead analyst on U.S. sovereign ratings told CNBC on Friday.
But as the government shutdown entered its fourth day, Marie Cavanaugh said in a "Squawk Box " interview, "We estimate that the shutdown is probably costing about 0.3 percent off the quarterly growth rate for every week that it's shutdown continues."
The U.S. Treasury set Oct. 17 as the deadline for raising the debt ceiling. But that was before the shutdown, Cavanaugh pointed out, which causes the government to spending less. "So in an odd way it may move the date back a little bit," she said.
(Read more: Jack Lew's dilemma: Which bills to pay and when)
Cavanaugh added, "If the debt ceiling is not raised, the impact on the economy could certainly be much greater" than that of the shutdown. But she predicted that the limit would be increased on time.
On Thursday, the Treasury released an analysis of the "potential macroeconomic effects of the debt ceiling brinksmanship " based on the similar fight of two years ago that resulted in the U.S. losing its Standard & Poor's the sterling AAA credit rating. S&P's current AA plus rating has a stable outlook.
"In 2011, U.S. government debt was downgraded, the stock market fell, measures of volatility jumped, and credit risk spreads widened noticeably; these financial market effects persisted for months," the Treasury stated. "To be sure, other forces also played a role, but the uncertainty surrounding whether or not the U.S. government would pay its bills took a toll on the economy." Read the full report here.
Earlier this year, Cavanaugh said Standard & Poor's changed its U.S. outlook to stable "because of the improvement, in our view, in the deficit, which has fallen to about half of its level in 2011. Our expectation is it's going to continue to fall."
"A stable outlook means we think there's a less than 1-in-3 chance of a rating change over the next two years," she said.
(Read more: Buffett speaks out against DC's 'extreme idiocy')
Other considerations for improving the outlook, according to Cavanaugh: "Compromise in lessening the impact of the so-called fiscal cliff and ... because the economy has been on a stronger footing."