The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Scientists say the smoke plumes, filled with megatons of tiny, harmful particles, could travel to other areas of the world and cause serious respiratory problems for people.Weather & Natural Disastersread more
Some Weight Watchers loyalists applaud Kurbo by WW. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time.Health and Scienceread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
Rising interest rates in the United States have an obvious effect on the world's biggest economy — but less obvious is the impact those rates could have on the second biggest.
Higher interest rates in the United States could make it harder for China to manage its exploding debt, as the Asian giant increasingly depends on borrowing in order to keep growing — while simultaneously trying to block capital from fleeing for more fruitful shores in America.
"If the Federal Reserve [keeps increasing] interest rates in the United States, the single biggest casualty of that this time is going to be China, because there's so much money just waiting to leave" the country, said Ruchir Sharma, head of emerging markets and chief global strategist at Morgan Stanley Investment Management. Sharma spoke Tuesday evening as part of a panel at the Asia Society in New York.
Sharma pointed out that over the last year, China has moved from one bubble to another: commodities, stocks and, currently, real estate. That is not a sustainable way for China to grow, he said, especially considering that China's "debt increase over the last five years has been 60 percentage points as a share of its economy."
"They're playing whack-a-mole constantly. They try to bring down one bubble, and something pops up somewhere else. They do that, and something comes up somewhere else," said Sharma, who noted that housing prices in China's largest cities have increased between 30 and 50 percent over the last 18 months alone.
Fed officials on Wednesday approved the first U.S. interest rate increase in a year. The 0.25 percentage point hike was widely expected, but the more aggressive pace for future increases outlined by the Fed — three next year instead of the two that were previously expected — was not.
"I certainly think we could hit a 3 (percent on the 10-year Treasury yield) by the first quarter" of next year, Rick Rieder, CIO, global fixed income at BlackRock, told CNBC on Wednesday. The 10-year was last at 3 percent in January 2014.
Such moves could become trouble for Beijing, which is already working hard to block capital from fleeing China as its currency, the yuan, declines in value against the dollar. More appealing investment options in the United States are a powerful lure drawing money out of China. (China also is using its foreign currency reserves to buy up yuan in a desperate attempt to keep its currency from plunging.)
Others doubt Sharma's take on China's economy. More optimistic observers of the country correctly point out that the country's debt is fundamentally different from debt in most other places. The government in China has so much control over so much of the economy, and a direct stake in so many markets and businesses in China, that it has proven capable of engineering its way out of previous bubbles.
But the ability to keep financing its "massive debt binge" is impaired, Sharma said, if too much money bleeds out of the system. And China needs a lot of money — and more and more of it — to keep hitting the largely arbitrary 6-percent GDP growth rate that Beijing has mandated for the country.
"Today in China, it's taking $4 in debt to create a dollar of GDP growth," said Sharma, who is also the author of "The Rise and Fall of Nations: Forces of Change in a Post-Crisis World."
Sharma isn't alone among economists and market watchers who are looking at China with rising concern.
Peter Boockvar, chief market analyst at economic advisory firm The Lindsey Group, said in a Wednesday note that China "is headed to debt outstanding as a percent of GDP to north of 250% vs 163% in 2008," citing sharp increases in consumer and banking debt within the country.
On Wednesday, the Chinese government said it issued 794.6 billion yuan ($115.1 billion) in new loans last month, well above October's 651 billion yuan ($94.28 billion).
Meanwhile, total social financing in China, a broad measure of credit in the country, rose to 1.74 trillion yuan ($250 billion) in November, from 896.3 billion ($129.8 billion) in October.
"This is out of control, as this is happening at the same time their growth rate is in secular decline," Boockvar said.
China's GDP growth rate has steadily dropped since 2010, when China's economy grew nearly 10 percent, according to data from the International Monetary Fund.
—CNBC's Patti Domm contributed to this report.