The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Megvii is known for its facial recognition technology and while revenue grew over 350% in 2018, its losses have widened.Technologyread more
Bitcoin is creating a whole new platform for entrepreneurship and will provide an important alternative to fiat currencies in countries where people lack faith in their governments' currencies, said Silicon Valley investor Tim Draper.
"The bitcoin world is this new ecosystem where it doesn't cost that much to start a new bitcoin company, it doesn't cost much to start owning bitcoin either, and it is a much more efficient way of moving money around the world," Draper said on Monday's edition of Squawk on the Street.
Draper also said investors should have some bitcoin in their investment portfolios.
The price of bitcoin on exchanges where it is traded has fluctuated, sometimes dramatically. Overall, though, Draper is confident the currency will trend upward; there is a limited amount of bitcoin and people are using it more and more, he said.
But the money does not lie in mining the currency, which is done with powerful computers which crack code problems to free up bitcoins. That space is competitive, and most of the people mining bitcoins are probably doing it for fun, Draper said.
Instead, it is the currency's usefulness that will fuel its ascent.
"Bitcoin is a great alternative for some of these economies where inflation really saps the strength of a country's economy," Draper said. "I expect Pagos in Argentina, Pagatech in Africa, and in Mexico Coincove—all these companies will really thrive because people in those countries are not as confident in their own governments' fiat currency."
(Draper's firm, Draper Associates, has made an investment in Nigerian mobile payments company Pagatech.)
Draper took home all of the nearly 30,000 bitcoins that US Marshals had seized during a crackdown on illegal activity on the online marketplace Silk Road. The founding partner of venture capital firm Draper, Fisher, Jurvetson has not disclosed how much he and fellow investors paid for the chunk of online change, but the lot they took home has been valued at around $18 million.
"All I know is I paid more than all the other guys did, and so winning it at auction is a mixed bag," he said. "But I made a decision that this was going to be a long-term bet. "
Despite the expense, Draper calls himself a "believer."
—By CNBC.com staff