"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
U.S. stock index futures turned lower after China said it needed to have further discussions before it would sign off on the so-called phase one trade deal President Trump...US Marketsread more
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
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
Boeing's board removed CEO Dennis Muilenburg as chairman amid the fall out of two 737 Max crashes that killed 346 people.Aerospace & Defenseread 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
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
"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
Beijing will be opening up its financial industry to foreign ownership from January, namely in the areas of futures, mutual funds and securities.China Economyread more
The industry has pulled in $322 billion over the past six months, the fastest pace since the second half of 2008.Marketsread more
General Motors isn't out of the woods with the federal government, yet.
To track General Motors' progress on investigating potential safety issues, the U.S. Department of Transportation's National Highway Traffic Safety Administration (NHTSA) has planned to extend federal oversight over GM for another year, the NHTSA announced Thursday.
The extension—presented to GM in a letter dated May 14—requires GM to continue to report all safety-related issues to the NHTSA and meet with the agency regularly.
The renewal of the consent order allows NHTSA to review GM's decision-making and communications about possible vehicle safety threats. Last year, the company agreed to pay a record $35 million civil penalty and allow unprecedented oversight following its failure to report a defect in its Chevrolet Cobalt model, leading to non-deployment of airbags in certain Chevrolet Cobalt and other GM models.
Last year the company recalled nearly 30 million of its cars.
"GM learned a hard lesson last year," said U.S. Transportation Secretary Foxx, in the statement. "We expect to see the improvements they've made continue and that their new approaches are applied to every GM safety issue and every recall. Today's action will help keep them on the right track."
NHTSA extended its order from last year since it proved effective in addressing motor vehicle safety defects, according to the press release.
GM was not available for a comment.