Hours after President Trump said Sunday he had "second thoughts" about escalating the trade war with China, the White House sought to explain his remark because it was...Politicsread 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
President Donald Trump said that he would have a major trade deal with U.K. after it leaves the European Union.Politicsread more
Despite Kudlow's expectations, China said on Saturday that it strongly opposes Trump's decision to levy additional tariffs on $550 billion worth of Chinese goods, and warned...Politicsread more
President Donald Trump said Sunday he was not happy after North Korea launched short-range ballistic missiles over the weekend.Politicsread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
The Goldman Sachs technology M&A team, led by Sam Britton, has cashed in on its software focus and decades of experience to dominate 2019's biggest deals.Technologyread more
American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
The summit comes amid fears over a global economic slowdown, and U.S. tensions over trade allies, Iran and Russia.Politicsread more
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
Greece may have put together an updated list of reform proposals, but as its new government finds it more difficult to secure concessions, there are still fears the country could crash out of the euro zone.
The contents of the new reforms list, which has been published by the Greek press and involves raising an extra 4.7-6.1 billion euros ($5.09-$6.61 billion) in government revenues, represents "a clear step in the right direction" according to economists at Barclays Capital.
This means that, in effect, the Greek government has offered some concession to European authorities on the continuing wrangles over the austerity measures imposed as part of its bailout.
Since Greece elected a new government in January, led by the left-wing Syriza party, which promised to bring an end to austerity, the tone of its negotiations with international creditors has changed, raising fears that it may end up defaulting on its debt repayments and exiting the euro zone.
What is certain is that Greece still needs external financial support, particularly the 7.2 billion euros in bailout funds which it hopes to unlock from its international lenders. To date, Greece has received two bailouts worth a total of 240 billion euros.
Its lenders are keeping up the pressure on Greek politicians to reach a compromise. On Wednesday, the European Central Bank raised Greece's emergency liquidity by a modest 700 million euros to 71.8 billion euros, which Rabobank strategists argued continues "a strategy whereby Greece's leeway in terms of liquidity is strictly rationed."
While it has cut government spending, Greece has also suffered from falling tax revenues, which means that its deficit figures are worse than its targets, and its deficit was still rising at the end of February. The other peripheral euro zone economies which were bailed out during the credit crisis are in various stages of recovery, but Greece has lagged behind.
"Greece's budget consolidation is unravelling," Jessica Hinds, European economist at Capital Economics, wrote in a research note.
Greece is due to pay 460 million euros to the International Monetary Fund on April 9.
There are also concerns that the new Greek plans are too optimistic about how effective a mooted clampdown on fraud and tax evasion could be.
"Given the historical difficulty (recently exacerbated) that the Greek government has experienced in collecting tax revenue, we highlight significant uncertainty as to the effective capacity of new fiscal measures to match their revenue targets," the Barclays Capital economists pointed out.
- By CNBC's Catherine Boyle