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
China's state media is putting up a brave front as the country's trade war with the U.S. escalated sharply over the weekend.China Economyread 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
U.S. stock futures surged Monday morning after President Trump said China is ready to come back to the negotiating table following a phone call Sunday and the two countries...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
Mohamed El-Erian—once the heir apparent at Pimco—told CNBC on Tuesday he has no plans to go back to the investment firm now that co-founder Bill Gross has left.
Asked if he'd want his old job back, El-Erian said in a "Squawk Box " interview: "No, I'm really happy with my life." He added that he was surprised that Gross left Pimco, where they had shared the leadership of the investment giant and its investment strategies.
Gross had faced increasing pressure at Pimco and heavy outflows from its flagship bond fund after El-Erian himself abruptly bolted in January. El-Erian has said he left to spend more time with his family, but his leaving raised questions about strained relations with Gross.
"What I wasn't surprised about .... there was a very solid team to step in," said El-Erian, who is now chief economic advisor at Pimco-parent Allianz of Germany. "We have a couple of Morningstar manager-of-the-year winners. You have incredible people who have delivered performance. You have great leadership."
In the wake of Gross' exit, Daniel Ivascyn was named the new chief investment officer at the Newport Beach, California-based firm. Douglas Hodge and Jay Jacobs kept their roles as chief executive officer and president, respectively.
Nicknamed on Wall Street the Bond King, Gross announced his departure from Pimco in September to join Janus Capital Group. The new bond fund managed by Gross at Janus took in a net $66.4 million last month, putting total assets under management at $79.1 million.
On CNBC Tuesday, El-Erian had nothing but positive things to say about Gross. "He is a brilliant investor and remains a brilliant investor," El-Erian added.
As Gross embarks on his new chapter at Janus, El-Erian said he couldn't speak to his former colleague's state of mind because he has not seem him in a while.
"But the Bill I know is someone who's anchored by three things that you hardly ever find in an investor: Strong fundamentals including economics, a really good feel for the market and strong bond math. And that is what has made him so successful."