Indian billionaire investor Rakesh Jhunjhunwala says he's very upbeat about his country's growth potential after the country underwent a massive banking crisis and the rollout...Asia Economyread more
There's more pain ahead for the U.S. and China amid their bilateral trade dispute, according to one expert.China Politicsread more
Alphabet Inc's Google said Tuesday that keeping phones up to date and secure was in "everyone's best interests," shortly after the U.S. temporarily eased some trade...Technologyread more
You know there's an underlying problem when investment firms start to cut exposure to a particular asset class.Commentaryread more
Stocks in Asia were mostly higher on Tuesday as a temporary reprieve in U.S.-China trade tensions provided a breather.Asia Marketsread more
The issue of corporate debt has surfaced as companies continue to use the low rates the Fed has provided to lever up their balance sheets.The Fedread more
A record 257.4 million travelers are expected to opt for U.S. airlines for travel this summer, the 10th consecutive annual increase, a trade group forecast on Tuesday.Airlinesread more
Huya, a Chinese live streaming platform focused on gaming, is looking to expand into the U.S. in the next couple of years, CEO Rongjie Dong told CNBC. The U.S. is expected to...Technologyread more
Most U.S. hedge funds aren't expecting another big stock market sell-off as more firms curb bets on volatility, according to Nomura.Marketsread more
Mall owners are increasingly building out food halls with local chef-driven eateries, sushi bars and premium coffee shops.Retailread more
While Trump's lawyers had argued that the committee's subpoena did not have a legitimate legislative purpose — and was therefore invalid — Mehta took a broader view.Politicsread more
U.S. producer prices recorded their largest increase in six months in December as the cost of gasoline rebounded strongly, but inflation pressures remained benign.
The Labor Department said on Wednesday its seasonally adjusted producer price index rose 0.4 percent last month, the biggest rise since June, after slipping 0.1 percent in November.
December's rise in prices received by the nation's farms, factories and refineries ended two straight months of declines and matched economists' expectations.
In the 12 months through December, producer prices increased 1.2 percent after advancing 0.7 percent in November.
Wholesale prices excluding volatile food and energy costs increased 0.3 percent, the biggest gain since July 2012, after ticking up 0.1 percent the prior month. However, tobacco accounted for nearly half the increase.
In the 12 months through December, the so-called core PPI rose 1.4 percent after increasing 1.3 percent in November.
While economic activity has picked up, inflation continues to run very low because of labor market slack.
That could see the Federal Reserve keeping interest rates near zero for a while. The U.S. central bank has started scaling back its monetary stimulus, reducing its monthly bond purchases to $75 billion from $85 billion starting this month.
Last month, wholesale gasoline prices rose 2.2 percent, accounting for more than half of the increase in the energy index.
Wholesale food prices fell 0.6 percent in December after being flat the prior month. Food prices were held down by the cost of pineapples, which recorded their biggest drop since May 2006. Pork prices also weighed, dropping by the most since September 2012.
Tobacco prices rose 3.6 percent. Passenger car prices, which rose 0.2 percent, and light truck prices, which advanced 0.5 percent, also helped to lift the core PPI.
A gauge of manufacturing in New York state jumped to its highest level in 20 months in January as new orders soared, the New York Federal Reserve said in a separate government report.
The New York Fed's "Empire State'' general business conditions index rose to 12.51 in January from a revised 2.22 in December to hit its highest since May 2012. Economists polled by Reuters had expected a reading of 3.75.
New orders rose to 10.98, a two-year high according to the New York Fed, from a revised -1.69. A number above zero indicates expansion.
Labor market conditions improved, with the index for the number of employees rising to 12.20 from a reading of 0.00 in December. The index of business conditions six months ahead dipped to 37.51 in January from a revised 38.96 in December.
The survey of manufacturing plants in the state is one of the earliest monthly guideposts to U.S. factory conditions.