The central bank is not normally in the business of easing into an economy that is showing few signs of a recession, generally holding fire until more pronounced signs of a...The Fedread more
His case for gold comes as central banks get more aggressive with policies that devalue currencies and are about to cause a "paradigm shift" in investing.Marketsread more
CSX said it expects revenue to fall as much as 2% in 2019, well below a previous forecast of an increase of 1% to 2%.Marketsread more
Challenging conditions in the U.S. housing market, along with tighter currency controls by the Chinese government, cause a stunning drop in foreign demand for American homes.Real Estateread more
The growth in net interest income, a main engine of the industry's profit, looks to slow to a halt in the back half of this year.Banksread more
Here's how Amazon sells ads, and why it has a natural edge over Google and Facebook in some areas.Technologyread more
Netflix reports earnings Wednesday as it loses licensed shows to rivals launching their own streaming services.Technologyread more
Federal Judge William Pauley wrote in a court filing made public Wednesday that materials related to Cohen's campaign-finance probe should be unsealed — and denied a request...Politicsread more
The "'Cadillac tax," set to go into effect in 2022, is unpopular with both Republicans and Democrats, who say it punishes the middle class.Health and Scienceread more
Facebook's head of Calibra David Marcus is grilled during a House Financial Services Committee hearing over the company's digital currency plans.Technologyread more
Gov. Phil Murphy of New Jersey announced a lawsuit against the IRS and Treasury Secretary Steven Mnuchin, responding to new, final rules from the IRS that would largely block...Personal Financeread more
Chinese soccer fans were left furious Monday after a long-awaited Manchester derby in the Beijing Bird's Nest stadium was abruptly canceled just hours before kickoff.
"The International Champions Cup China, Manchester United versus Manchester City match is cancelled due to the extreme weather events in Beijing over a multiple day period. The committee and both teams make the decision together in the interest of player safety, " organizers Catalyst LeEco Sports said in an official statement.
"Due to international travel schedules and planned sporting commitments, the match cancellation is definitive and the match will not be re-scheduled."
Heavy rainfall overnight is believed to be the reason the pre-season match was called off, despite it being sunny and around 32 degrees Celsius in the hours leading up the the game.
At China's National Stadium - which hosted the 2008 Beijing Olympic Games - groups of fans wearing the kits of both teams were seen walking towards the event, unaware of the last-minute pullout by the top two English Premier League teams.
The anger from the Chinese media and soccer fans was compounded when the two teams canceled a news conference where they were due to to address journalists regarding the unpopular decision to cancel.
Outside the ground, one Manchester United fan, Li Yiming, told CNBC he was very angry after traveling all the way to Beijing from the Gansu province in far western China.
"How can they so brutally call it off? I have been waiting for months ... and the weather is just fine," he said.
Ticket sales of the friendly match sold out a month ago, according to reports. The official prices ranged from 400 renminbi ($59.9) to 5,000 renminbi ($748.5), whereas the scalpers raised that number to as much as 20,000 renminbi in some online marketplaces. Angry comments from fans have been flooding social media since news of the cancellation.
"They really have no respect for Chinese fans at all! Why did they say so just hours ahead of the game?" A internet user called Student Yang Xiaofan said.
Netizen Liu Ningning didn't hold back either: "I don't mind spending money on the ticket, I don't have to watch the game, but you should send your players in the stadium or even just have them walking a lap around the field," he wrote.
Meanwhile Li Mingcheng criticized the two teams: "I am at downtown. If you look around, Man United fans are everywhere. I can understand the so-called weather issue or pitch issue. But the two teams didn't just find it out today. It is extremely inappropriate to fail 80,000 fans who have bought the tickets."
Some others just felt sad, a social media user called Arsenal Giround posted a comment right after the announcement: "I just got off the train. Now I only want to cry."
Many fans called on a boycott for the upcoming game between Manchester City and Borussia Dortmund in Shenzhen in a few days' time.
Employees from the organizers told CNBC that weather was not really the reason for the two teams to cancel the game, but the poor quality of the pitch. A number of loyal fans showed their understanding and blamed the organizers and the low-quality pitch for causing the cancellation, rather than the two teams.
Despite calling off a press conference, Jose Mourinho, the Manchester United manager, greeted and talked to journalists for around five minutes. When asked why his team came to China, he said it had "come here for the fans."
An appropriate refund policy will be put in place by local partners, according to the organizers.