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
The soaring costs of paying workers — both self-imposed by many companies and government-mandated via minimum wage increases —make the calculus of replacing jobs with automation more attractive, said Andrew Puzder, chief executive of CKE Restaurants.
"As you make labor more expensive, you make automation a more viable alternative," Puzder told CNBC's "Squawk Box " on Friday. CKE is the company behind the Carl's Jr. and Hardee's fast-food brands.
Five or 10 years ago, ordering automated kiosks for 6,000 locations in the U.S. was too expensive compared to labor costs, he said. "[But] they're not too expensive now."
Replacing jobs with machines is "not something you like to do," but research shows many millennials want to order with technology instead of dealing with cashiers, he added. "They don't like the personal contact. They're not going to malls or restaurants anymore."
Wal-Mart in February implemented the second phase of hourly wage increases for its employees to at least $10 per hour. Last year, worker pay at the retail giant was bumped up to $9 per hour.
While many states such as California and New York are increasing wage floors, the federal minimum wage has stagnated at $7.25 per hour since 2009.
"You could go to $9 [per hour] with minimal impact," Puzder said. "In our restaurants, we're already there. Our average wage for the crew level is about $11 [per hour]."
But a "real alternative" to raising the minimum wage that won't hurt business and can save jobs, according to Puzder, would be to expand the earned income tax credit, a benefit for working Americans with low to moderate income to reduce their tax burdens or provide refunds.
The earned income tax credit approach has bipartisan support in Washington, Puzder said. "Warren Buffett supports it. I support it."