President Donald Trump said on Monday that China is ready to come back to the negotiating table and the two countries will start talking very seriously.Politicsread more
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
Shares in troubled Portuguese lender Banco Espirito Santo tanked 50 percent on Thursday morning, after trading in the stock was suspended until 10 a.m. London time following disappointing earnings.
BES, Portugal's largest listed lender by assets, posted a first-half net loss of 3.58 billion euros ($4.8 billion) on Wednesday evening, wiping out its 2.1 billion euro capital buffer. The bank is likely to have to raise new capital as a result.
Shares in the bank were suspended on Thursday morning by Portugal's stock market regulator.
Turmoil at the group which owns the bank has embroiled the lender for weeks, and former CEO Ricardo Salgado was arrested in connection a tax evasion and money laundering investigation.
This recent flare-up in tensions in Portugal saw its government bond yields spike and heightened concerns that the euro zone debt crisis was on the verge of returning.
BES's common tier one equity ration - a key measure of the bank's financial strength - stands at 5 percent, below the 7 percent required by regulators. The lender's new CEO Vítor Bento said the company would embark on a "comprehensive capitalization plan" including a capital buffer to raise the money needed to meet regulatory requirements.
"While its problems are not new ones, the scale of them has clearly taken the market by surprise," Investec said in a note on Wednesday. BES shares are down 69 percent this month.
The problems at BES began in May when its parent company, Espirito Santo International (ESI), received an audit by the Portugal's central bank which showed "irregularities" in its accounts. The flames were fanned once again on July 10 after debt repayments to clients on commercial paper issued by ESI were delayed.
Shares on Portugal's PSI index slipped 2.4 percent.