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
The industry has pulled in $322 billion over the past six months, the fastest pace since the second half of 2008.Marketsread more
A technical recession occurs when there are two consecutive quarters of economic contraction.Asia Economyread more
"Deepfakes" are being used to depict people in fake videos they did not actually appear in, and can potentially affect elections, diplomacy and how markets move, experts say.Technologyread more
A spokesperson for the U.S.-backed Syrian Democratic Forces (SDF) has issued a stark warning to the international community.World Newsread more
The potential deal would shift Neumann's already diminished voting power to the Japanese conglomerate, according to the Journal.Technologyread more
U.S. President Donald Trump said that both sides reached a "very substantial phase one deal" that will address intellectual property and financial services concerns and...Asia Marketsread more
On Friday, Zedd tweeted about the ban, and CNBC verified the claim with his publicist on Saturday.China Politicsread more
Hunter's vows to forgo any foreign work follow a slew of unsubstantiated attacks by President Donald Trump accusing him of corruption.Politicsread more
Apple, the company that created the modern-day smartphone, is relying on technology customers are already extremely familiar with, like cameras, and taking a backseat when it...Technologyread more
Fisher was initially defiant amid the backlash in an interview with Bloomberg, in which he said he had "given a lot of talks, a lot of times, in a lot of places and said stuff...Personal Financeread more
U.S. consumer prices moderated in May, but sustained increases in housing and health care costs kept underlying inflation supported, which could allow the Federal Reserve to raise interest rates this year.
The Labor Department said on Thursday its Consumer Price Index increased 0.2 percent last month after rising 0.4 percent in April. In the 12 months through May, the CPI advanced 1.0 percent after rising 1.1 percent in April.
Economists had forecast the CPI gaining 0.3 percent last month and advancing 1.1 percent from a year ago.
The so-called core CPI, which strips out food and energy costs, rose 0.2 percent after a similar gain in April. That took the year-on-year core CPI rise to 2.2 percent from 2.1 percent in April.
The Fed has a 2 percent inflation target and tracks an inflation measure which is currently at 1.6 percent. The U.S. central bank on Wednesday kept interest rates unchanged and said it expected inflation to remain below its target through 2017.
While the Fed signaled it still planned two rate hikes this year, there was less conviction, with six officials expecting only a single increase, up from one in March.
The Fed raised its benchmark overnight interest rate in December for the first time in nearly a decade.
Last month, gasoline prices rose 2.3 percent after surging 8.1 percent in April. Food prices fell 0.2 percent, reversing the prior month's increase.
Within the core CPI basket, housing and medical costs maintained their upward trend. Owners' equivalent rent of primary residence rose 0.3 percent after rising by the same margin in April.
Medical care costs increased 0.3 percent after a similar gain in April. The cost of hospital services shot up 0.7 percent after rising 0.3 percent the prior month. Doctor visit costs rose 1.0 percent, but the cost of prescription medicine fell 0.4 percent after increasing 0.7 percent in April.
Apparel prices rose 0.8 percent. The cost of used cars and trucks dropped 1.3 percent, the biggest fall since March 2009. Prices for new motor vehicles fell 0.1 percent.