The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread 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
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.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
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Megvii is known for its facial recognition technology and while revenue grew over 350% in 2018, its losses have widened.Technologyread more
Billionaire activist investor Carl Icahn said Thursday that Oklahoma Attorney General Scott Pruitt will "do the job" as Environmental Protection Agency chief.
Icahn has been a sharp critic of the EPA in the past. He told CNBC's "Power Lunch " on Thursday that the agency is one of the worst-run organizations he's ever seen, and said he initially had doubts about Pruitt.
"I must have met him three or four times because at the first time, I wasn't quite sure that he'd be the perfect guy to really clean that EPA up," he said. "What you have to do here is be very tough."
Pruitt, along with other state attorneys general, is suing the EPA over Obama administration rules, and has repeatedly slammed the agency for what he argues is regulatory overreach. The pick gives a clear signal that Trump could follow through on pledges to roll back climate-related regulations and improve the operating environment for fossil-fuel companies.
Icahn said Donald Trump as president should eliminate "crazy regulations," and lower the depreciation schedule so investment in the U.S. "make sense." In fact, as of September 30, 47 percent of Icahn's portfolio is weighted in the energy sector. Some of his major holdings include CVR Energy and Cheniere Energy.
Regarding the selection of Trump's Cabinet picks, Icahn said he interviewed "four or five very good candidates," and spoke with Pruitt about four times, eventually coming to the conclusion that he was the best candidate. Icahn also said he spoke with Trump's Treasury secretary pick, Steve Mnuchin, and strongly backed him, as well as Wilbur Ross, Trump's pick for Commerce secretary. He wouldn't comment on whether he was interviewing candidates for secretary of state.
Icahn supported Donald Trump throughout his campaign, saying he thought Trump would be the best president to grow the economy. Several months ago, he said a Trump presidency would see a more robust business climate through fewer regulations and an economy that would grow faster with more people working.
The day after the presidential election, Icahn told CNBC that Trump's victory was "a step in the right direction." Market futures plunged more than 800 points during the night of the election as it appeared more and more likely that Trump would win. The following day, however, stocks were trading higher by about 200 points. Icahn said at the time that he used the market dip as an opportunity to buy more stock, adding that he does not think a Trump presidency will be a negative for the market.
This story is developing. Please check back for further updates.
—CNBC's Jacob Pramuk contributed to this report.