Wall Street is becoming convinced that both the White House and Beijing are willing to engage in a protracted trade war that could begin to hit consumers and slow global...Market Insiderread more
Investors trying to get a gauge on the state of U.S.-China trade relations should look at shares of big chipmakers, according to Ned Davis Research.Marketsread more
Stocks fell sharply on Thursday as U.S.-China trade worries persisted with more companies suspending business with Chinese telecom giant Huawei.Marketsread more
Oracle co-founder Larry Ellison disclosed a $1 billion stake in Tesla in late December. It's now worth about $580 million.Technologyread more
The e-mail's optimistic tone helped Tesla shares turn positive for the first time in seven days.Technologyread more
J.P. Morgan Chase has cut ties with Purdue Pharma LP over the OxyContin maker's alleged role in the U.S. opioid crisis, forcing it to find a new bank to manage cash and bill...Banksread more
Facebook also says it's reacting faster to illicit sales of drugs and firearms.Technologyread more
In a four-page letter sent Thursday morning, Warren and Ocasio-Cortez asked Mnuchin a series of questions about his advisory role in former Sears CEO Eddie Lampert's...Politicsread more
The Trump administration announces a $16 billion aid program for American farmers that includes a three-pronged package of aid for American farmers who have been hurt by the...Politicsread more
Boost Mobile founder Peter Adderton said details of Boost's wholesale deal with a combined Sprint-T-Mobile would dictate if the brand can compete.Technologyread more
Amazon is reportedly getting into the wearables space. It would help the company learn more about customers and potentially corner the market on a demographic of older, sicker...Technologyread more
Founder of short-seller Muddy Waters Research, Carson Block, claimed on Tuesday that Chinese economic data lacked credibility following the release of China PMI data, which came in at a 6-month high.
Block is well-known for issuing damning research and short selling Chinese companies mostly listed in the U.S. and Canada. He became a controversial figure after claiming the firms he was shorting were fraudulent.
The companies, meanwhile, have questioned Muddy Waters' sources. Chinese mobile security software company NQ Mobile, which saw a huge drop in its shares after Block described the firm as a "massive fraud", has said Block's firm does not disclose who its researchers are and what documents they examine.
Block said the China was facing a "massive credit and asset bubble" and questioned the legitimacy and quality of Chinese GDP prints.
"I think we have to understand (that) what China is printing on GDP is really for political reasons internally. It is unknowable what the quality of the data really is," Block told CNBC.
Block is the not the first voice in the market to question the credibility of Chinese data.
China's official purchasing manager's index (PMI) for June came in at a six-month high of 51, in line with expectations and up from 50.8 in May.
Global chief economist at Unicredit, Erik Nielsen said the figures were "curious".
Read MoreIs China still growing too fast?
"Why is it that the Chinese are having PMIs around 50 and growth at about 6 or 6.5 percent. It is constructive in every other country for 50 to be above flat," he said.
"It is simply a curious question, if you look through GDP numbers in any other country, you cannot construct any logical explanation for why they have such little volatility in growth in China," he said.
Block argued that a corrupt elite in China controls the banking system. "They control a huge swath of the economy through non-financial state owned enterprises. The core of the economy is subject to this kind of corruption," he said.
Block also questioned the legitimacy of the anti-corruption crackdown launched by President Xi Jinping, adding "things aren't getting any different".
Author of the Gloom, Boom & Doom Report, Marc Faber has also voiced his concerns about the growth rate of China's economy and said the annual rate was closer to 4 percent than the 7.7 percent recorded for 2013.
"I said to an economist: 'I think China is growing at 4 percent per annum, and he said do you mean minus 4 percent?'," Faber told CNBC in September last year.
"I don't think [China's economic growth] is minus 4 percent, but we do have to adjust a lot of economic statistics for the credit that has been pushed into the system that is not sustainable in the long-run," he added.