Analysts say the partial U.S.-China trade deal doesn't touch on thorny issues plaguing both sides, and warn talks could break down again.World Economyread more
"The Champagne should probably be kept on ice, at least until the two presidents put pen to paper," said state-owned media China Daily.Traderead more
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.K. and EU are gearing up for what could be the busiest week in British politics since June 2016.Europe Politicsread more
"It seems like what the two leaders have done is try to set some of the thorny political issues to the side," said Dhruva Jaishankar, director of the U.S. Initiative at the...Asia Politicsread 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
The United States has cleared the final procedural hurdle in order to impose tariffs on billions of dollars of European products later this month.World Economyread 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
Chinese President Xi Jinping warned on Sunday that any attempt to divide China will be crushed.China Politicsread more
"Nobody is serious about reform down there except for Gov. [Bruce] Rauner," a Republican, she said in an interview on CNBC's "Squawk on the Street." "Michael Madigan holds all the cards here."
Madigan, the Democratic speaker of the state House, did not immediately respond to a CNBC request for comment. Democrats hold a 71-47 seat edge in the House.
The state and Chicago have been facing fiscal crises due to unfunded pension liabilities. Chicago has also recently been downgraded by several credit rating agencies, including Standard and Poor's and Moody's. The city is about $20 billion behind on its pension payments. The state is down a total of $105 billion in pension funding.
Under current state law, municipalities and localities cannot declare bankruptcy. Pending legislation could change that if approved.
"My opinion is we need big, strong reform and we need to get it now," Ives said, without giving any specifics.
Ives said the situation might get a lot worse before politicians can be moved to action. "When you start to see massive layoffs or services dramatically cut, maybe that is the pressure point that really has to occur," she said.
Earlier this month, the governor overturned a 2013 law that would help alleviate some of the state's unfunded pension liabilities.
Ives said there is no quick fix, and legislation, if passed, will mandate regimented reform over the next several years.
"We can't build a budget for just the next year, we need to build a budget that is good for the next generation," she said.
—Reuters contributed to this report.