President Donald Trump said on Monday that China is ready to come back to the negotiating table and the two countries will start talking very seriously.Politicsread more
The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
China's state media is putting up a brave front as the country's trade war with the U.S. escalated sharply over the weekend.China Economyread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
U.S. stock futures surged Monday morning after President Trump said China is ready to come back to the negotiating table following a phone call Sunday and the two countries...Marketsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread 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
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Chesapeake Energy, the second-largest natural gas producer in the United States, plunged as much as 50 percent on Monday after multiple reports that it had hired restructuring attorneys.
Chesapeake shares were down $1.01 at $2.05, having been halted at least eight times in morning trading. Despite these reports, the energy company said in a statement that it has no plans to pursue bankruptcy, and Chesapeake is aggressively seeking to maximize value for all shareholders.
Chesapeake, which has more than $10 billion in debt, has been hit by a steep fall in both oil and gas prices. Reuters reported that the company's bonds maturing next month plunged 20 points, to a level of 75 cents on the dollar, on the news.
In an interview with CNBC, John Arnold, the legendary energy trader formerly of the hedge fund Centaurus Advisors, was less optimistic about Chesapeake's current situation.
Arnold noted that the company's "legacy costs are overwhelming" and "they have too much debt."
In terms of the energy market more broadly, Arnold added that "E&P companies have seen tremendous strain on their businesses."
"Margins were not bad in 2015, but companies had a high percentage of oil price hedged. They're not as highly hedged in 2016 and saw a steep change in revenue on January 1st," said Arnold.
According to the Natural Gas Supply Association, Chesapeake trailed only ExxonMobil among natural gas producers in the first half of 2015, at a volume of 2,979 MMcf per day.
Chesapeake has 14 bonds due between Jan. 2017 and Dec. 2038. Nearly all of those bonds are trading between $0.50 and $0.24, and the yield on their note due Aug. 2017 jumped from 73 percent to 99 percent on Monday.
— Reuters and CNBC's Scott Wapner, John Schoen and Christopher Hayes contributed to this report.