While the U.S. gave Huawei a 90-day reprieve, allowing American businesses to keep selling specific products to the Chinese firm, it also added more affiliates of the...Technologyread more
The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
United States Steel Corp will temporarily lay off hundreds of workers at its Great Lakes facility in Michigan in coming weeks, according to a filing the steelmaker made with...US Marketsread more
While Hong Kong leader Carrie Lam painted a bleak picture of the city's economy, she expressed hope that dialogue with protesters could provide "a way out."China Politicsread more
China's pursuit of the Middle East may spur growth in the Islamic finance sector.World Economyread more
Twitter and Facebook have suspended accounts believed to be tied to a state-backed disinformation campaign originating from inside China.Technologyread more
U.S. President Donald Trump and his former White House communications director Anthony Scaramucci have had a public falling out recently.Politicsread more
The report comes as Trump in recent days has lashed out over media reports about growing recession fears.Politicsread more
Beijing will lower borrowing costs for companies, but that may not boost the economy as much as some hope.China Economyread more
Stocks are bouncing higher but could be trapped in a range longer term, until there's a resolution of the trade wars.Market Insiderread more
Stocks in Asia mostly traded higher Tuesday afternoon as minutes from the Reserve Bank of Australia's July meeting were released. The People's Bank of China also published its...Asia Marketsread more
BlackRock chief Larry Fink said Thursday that negative and low interest rates around the world are crushing savers, and those policies are "going to become the biggest crisis globally."
In an interview on CNBC's "Squawk Box, " Fink called on political leaders to step in and provide fiscal reform to complement monetary policy.
"We have become too dependent on central bankers" to boost the global economies, he said, stressing easy money policies were supposed to be a temporary healing. "I don't call seven, eight years temporary. ... I don't see how that [still] has a positive impact."
"Over 70 percent of our clients are retirement plans and insurance plans. Our clients are in pain," the BlackRock chairman and CEO said. "Our clients are very worried how they're going to be meet their liabilities" because the yields are so low in the bond market.
Fink also said the U.S. stock market should be higher than current levels by year-end.
"I believe that after we who know the Republican candidate is and who the Democratic candidate is, you're going to hear great commentary about fiscal reform," he said. "The major part of the rally is going to be when you are hearing government officials talking."
In January, when financial markets were melting down, Fink told CNBC the stock market could fall another 10 percent, saying at the time, "I believe there's not enough blood in the street."
On Thursday, he said the market had gotten about "70 percent of the blood."
While he sees stocks going higher, Fink pointed to some uncertainties. "We have the issues of Brexit. We have elections in Japan this May. We obviously have our own elections," he said.
The referendum in Britain about whether the country should stay in the European Union is scheduled to be held in two months.
"My instincts are if the vote was today, which it's not, I think a Brexit would happen," Fink said. "Many things can happen between now and June, so I would not be saying it's going to happen."
But he believes an exit would be "harmful to the U.K. economy" and "would raise viability questions about the EU."
Also Thursday, BlackRock said it earned an adjusted $4.25 per share in the first quarter, 4 cents below estimates and 13 percent lower than the year-earlier period.
Revenue of $2.62 billion was also below forecasts and 4 percent lower than last year's first quarter number.
"When you think about what happened in the first quarter, the markets fell double-digits [at one point]," Fink said. "When you have that type of volatility you have uncertainty from our clients. The clients are pulling back."
The world's largest asset manager attracted total long-term net inflows of nearly $36.1 billion in the quarter.
BlackRock also announced a 5 percent increase in its quarterly dividend to $2.29 per share and $300 million of share repurchases. Its stock price was down more than 2 percent in premarket trading Thursday.