Economists polled by Reuters had expected Chinese exports denominated in the U.S. dollar to fall by 3% and imports to decline by 5.2% in September, compared to a year ago.China Economyread more
The U.S. had plans to hike duties on at least $250 billion in Chinese goods to 30% from 25% on Tuesday. Despite the partial trade deal, some banks on Sunday wrote that tariff...Marketsread more
The industry has pulled in $322 billion over the past six months, the fastest pace since the second half of 2008.Marketsread more
A technical recession occurs when there are two consecutive quarters of economic contraction.Asia Economyread more
"Deepfakes" are being used to depict people in fake videos they did not actually appear in, and can potentially affect elections, diplomacy and how markets move, experts say.Technologyread more
A spokesperson for the U.S.-backed Syrian Democratic Forces (SDF) has issued a stark warning to the international community.World Newsread more
The potential deal would shift Neumann's already diminished voting power to the Japanese conglomerate, according to the Journal.Technologyread more
U.S. President Donald Trump said that both sides reached a "very substantial phase one deal" that will address intellectual property and financial services concerns and...Asia Marketsread more
On Friday, Zedd tweeted about the ban, and CNBC verified the claim with his publicist on Saturday.China Politicsread more
Hunter's vows to forgo any foreign work follow a slew of unsubstantiated attacks by President Donald Trump accusing him of corruption.Politicsread more
Apple, the company that created the modern-day smartphone, is relying on technology customers are already extremely familiar with, like cameras, and taking a backseat when it...Technologyread more
The Federal Reserve should not increase interest rates given current economic circumstances because growth is not that great and the strong dollar is hurting American multinational corporations, former General Electric chief Jack Welch said Thursday.
In an interview on CNBC's "Squawk Box," Welch said he understands near zero percent rates can lead to "misallocating funds, putting more and more people into risk assets." But he said there's a trade off. "The economy is really tough. Every dollar of exports we lose from our companies here is troublesome. It could crater us."
A stronger dollar makes goods sold by U.S. companies overseas more expensive, which can put them at a pricing disadvantage to their foreign competitors.
"I worry about the dollar breaking parity, going below this through the euro," Welch said, because European companies are going to "kick butt all over the world."
The dollar index against a basket of foreign currencies has risen 23 percent in the past year, though in the last month or so the greenback has dipped a bit.
In a separate appearance on "Squawk Box," Blackstone Chairman and CEO Steve Schwarzman also addressed the dollar and the U.S. economy. "Given the government regulations ... and the fact the dollar has gotten stronger and growth around the world is a little less, I think if we can do 2.5 [percent economic growth] that's pretty good."
Schwarzman said that's a level that's "ended up working out quite well for us." Blackstone, a private equity powerhouse, has $310 billion in assets under management.