The combined business would be owned 50/50 between shareholders of FCA and Groupe Renault.Autosread more
As trade talks between the U.S. and China increasingly center on Chinese treatment of foreign companies, Beijing says major American complaints about structural aspects of its...China Economyread more
Trump calls the US trade imbalance with Japan "unbelievably large."Politicsread more
Some House members want to lift the cap on state and local tax deductions, but it could be tough, in part because the move is expected to benefit high earners.Politicsread more
Smartphone users in Singapore, the U.K. and China told CNBC's "Beyond The Valley" that foldable smartphones are "very strange," "super bulky," and expensive compared to the...Technologyread more
Measles infected almost every American child until the vaccine eliminated the disease from the US. Now some parents are refusing to vaccinate their children, threatening to...Health and Scienceread more
Economic activity in the U.S. is "quite strong" while China has managed to stabilize its economy, said Tan Min Lan, Asia-Pacific head of chief investment office at UBS Global...World Economyread more
The U.S. is showing signs of targeting China's domestic surveillance and the tech supporting it.Technologyread more
A Beijing decision to rapidly and sharply cut its excessive and unsustainable trade surplus with the U.S. would change for the better the bilateral relationship, writes...World Economyread more
Plant-based protein makers Beyond Meat and Impossible Foods may be taking the food industry by storm, but there's no guarantee their products are healthier than the real...Fast Moneyread more
If you value reliability and quality over a posh cabin and jealous looks, the Lexus LX 570 two-row is the Japanese Range Rover you need.Autosread more
Sentiment among U.S. home builders took a sharp jump in June to the highest level of the year, despite rising costs for consumers.
Builder confidence rose five points to 59 from May's reading on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).
This is the highest reading since September, 2014. Anything over 50 is considered positive sentiment. Last June, builder sentiment stood at 49, just before moving into positive territory, where it has remained ever since.
"Builders are reporting more serious and committed buyers at their job sites and this is reflected in recent government data showing that new-home sales and single-family construction are gaining momentum," said NAHB Chairman Tom Woods, a home builder from Blue Springs, Missouri.
Sales of newly built homes in April (the latest reading available) were 26 percent higher than a year ago, according to the U.S. Census, and housing starts were 9 percent higher. Builders are seeing strong demand, due to very limited supply of existing homes for sale, but the price premium on new construction has been holding some buyers back. The median sale price of a newly built home in April was $297,300, an increase of 8.3 percent from April of 2014.
Of the HMI's three builder confidence components, current sales conditions rose seven points to 65, sales expectations over the next six months rose 6 points to 69, and buyer traffic rose five points to 44. That last component the only one still mired in negative territory.
Regionally, on a three-month moving average, builder confidence in the South and Northeast each rose three points to 60 and 44, respectively. The West gained two points to 57 while the Midwest dropped by one point to 54.