Chinese officials are expected to be in Washington this week to hold consultations with the U.S. ahead of high-level trade talks in October.World Economyread more
Saudi Arabia's defense spending is the world's third-largest — behind the U.S. and China, says Gary Grappo, former U.S. ambassador to Oman.Energyread more
President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
With over three months to go, 2016 looks set to be a record year in terms of the number of sovereign downgrades by Fitch Ratings.
Twenty countries have had their ratings cut so far this year by the major ratings agency. So far, this matches the tally for the whole of 2011 and the most since Fitch started record keeping in 1994.
Furthermore, the number of countries on "negative outlook" — at risk of downgrade — outstrips those on "positive outlook" across the world. In developed markets, for instance, Belgium, Japan and the U.K. are on negative outlook by Fitch.
At a conference in London Tuesday, Fitch's head of sovereigns said that developed countries, particularly European ones, faced unfavorable debt dynamics despite low funding costs.
James McCormack highlighted that real gross domestic product (GDP) growth in the U.K., France, Spain, Portugal, Italy, Greece and Canada was lower than the real effective interest rate, posing challenges to repayment of debt. Meanwhile, Japan, the U.S., France, Spain and the U.K. have primary deficits (defined as the fiscal deficit, which is the difference between government revenue and expenditure, minus interest payments).
Among the challenges facing Europe included "austerity fatigue," euroskepticism (criticism of the European Union or membership of the euro zone), high levels of migration and security concerns, McCormack said.
The U.K., meanwhile, faced a weaker growth outlook and prolonged legal and regulatory uncertainty after its vote to leave the European Union in June. Fitch downgraded the country to AA with negative outlook from AA+ immediately after the referendum.
"It is very clear that the U.K. government has done no effective contingency planning for Brexit," Ed Parker, Fitch's head of Europe, Middle East and Africa sovereigns, said at the conference.
Major emerging market countries that Fitch has on negative outlook include Russia and Turkey. It revised its outlook on Turkey last month following an unsuccessful military coup. On Tuesday, the agency said Turkey's rating would be reviewed in the first six weeks of 2017.
Paul Gamble, Fitch's head of Emerging Europe sovereigns, said Turkey's economy had shown a "significant degree of resilience" since the failed coup. However, he added, "There are clearly long-term spending pressure coming from military spending and refugees."