Huawei CEO Ren Zhengfei laid out plans to bring more efficiencies to the organization. This included simplifying the reporting structure, cutting down on surplus staff, axing...Technologyread more
The bond market has entered a financial twilight zone, and at this point, there doesn't seem to be a smooth way out.Market Insiderread more
China has used both monetary and fiscal measures to lift economic activity as its trade war with the U.S. looks set to intensify in the coming months.China Economyread more
President Donald Trump said on Twitter he was postponing a scheduled meeting with Denmark's prime minister because of her lack of interest in discussing a possible sale of...World Politicsread more
"I think (rate cuts) will help, but whether they're going to be sufficient to counter the negative trade pressures and global growth slowdown and impact is debatable," one...Central Banksread more
Chinese overseas investment growth will likely slow or even decline in the next few years as risks around the world increase, according to new research by Moody's Investors...China Economyread more
The two countries want to smash the civil aerospace duopoly enjoyed by Airbus and Boeing.Aerospace & Defenseread more
Alibaba held a board meeting before its latest quarterly earnings release last week, during which the board decided to postpone the Hong Kong listing, Reuters reported.Technologyread more
Federal Reserve Chairman Jerome Powell is set to deliver his annual speech on Friday at the Jackson Hole, Wyoming symposium, where he's expected to provide more clarity on the...Asia Marketsread more
U.S. and Asian investors poured $3.7 billion into U.K. tech start-ups in the first seven months of 2019, research shows.Technologyread more
After Elon Musk touts Tesla solar on Twitter, Walmart sues the electric vehicle and clean energy company over store rooftop panels that ignited.Technologyread more
Orders for long-lasting U.S. manufactured goods posted their biggest gain on record in July on strong international demand for aircraft, but the underlying trend remained consistent with a steady pace of domestic economic growth.
The Commerce Department said on Tuesday durable goods orders, items ranging from toasters to aircraft that are meant to last three years or more, jumped 22.6 percent last month after an upwardly revised 2.7 percent increase in June.
July's increase was the largest on record and far outpaced economists' forecasts for a 7.5 percent advance.
Durable goods orders were previously reported to have gained 0.7 percent in June.
Transportation orders jumped 74.2 percent, the highest increase ever, boosted by a surge in bookings for civilian aircraft, which soared 318 percent, the largest increase since January 2011.
Boeing reported on its website that it had received 324 orders for aircraft in July, triple the number booked in June.
Many of the orders, including 150 planes by Emirates, were for expensive models, some still under development. It will take at least 10 years for the resulting increase in production to filter through to gross domestic product.
Orders for autos increased 10.2 percent, a sign of firming manufacturing activity, after declining 1.3 percent in June. Excluding the volatile transportation category, durable goods orders fell 0.8 percent after rising 3.0 percent in June.
Non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, slipped 0.5 percent last month. The decline, however, followed an upwardly revised 5.4 percent advance in June. So-called core capital goods orders remained consistent with expectations of a steady economic growth clip in the third quarter.
Core capital goods orders were previously reported to have increased 3.3 percent in June.
Core capital goods shipments increased 1.5 percent in July. Shipments of core capital goods are used to calculate equipment spending in the government's GDP measurement.