The U.S. and China restarted their trade talks, but signs are showing a comprehensive deal could be a long way off, if it happens at all.Marketsread more
The Swiss Federal Data Protection and Information Commissioner said on Tuesday it had not yet been contacted by Facebook about overseeing privacy protections for the Libra...Technologyread more
Stone, 66, a notorious Republican political operative who has described himself as a "dirty trickster," had previously been dressed down by the judge for his public remarks...Politicsread more
The Biden team's second quarter Federal Election Commission filing shows that the campaign wrote a check of just over $5,300 on June 28 to Sheehan Associates for "strategic...2020 Electionsread more
The speech comes as market participants are strongly anticipating a rate cut at the July 30-31 Federal Open Market Committee policy meeting.The Fedread more
The Dow slipped from a record high set earlier in the day after President Trump cast doubt on the trade progress between China and the U.S.US Marketsread more
Oil prices turned lower on Tuesday, falling by about $2 a barrel as U.S. President Donald Trump said progress has been made with Iran, signaling tensions could ease in the...Energy Commoditiesread more
Spotify stock plunged over 1% on a report that Apple is spending money to create its own original podcasts.Technologyread more
There's a new opportunity emerging due to the divergence between "value" stocks and "defensive" stocks, a top J.P. Morgan strategists saysInvestingread more
Dimon is making his own bet on a digital coin that could transform the global payments landscape: JPM Coin.Financeread more
Facebook's David Marcus said at a Senate hearing Tuesday that U.S. sanctions could be at risk without financial services innovation.Technologyread more
European Central Bank President Mario Draghi insisted the bank's monetary policy stance remained appropriate on Thursday and stressed "sufficient confidence" would be necessary for the central bank to change tact.
"We are confident that our policy is working and that the outlook for the economy is gradually improving," Draghi said at a conference in Frankfurt on Thursday.
"But even so, we have not yet seen sufficient evidence to materially alter our assessment of the inflation outlook – which remains conditional on a very substantial degree of monetary accommodation. Hence a reassessment of the current monetary policy stance is not warranted at this stage," he added.
The ECB chief reaffirmed his stance the central bank would not need to deviate from its generous asset-buying program until at least the end of the year. The ECB's rate of asset purchases is set to continue until at least the end of December, albeit at a reduced monthly rate of 60 billion euros ($63.8 billion) from April.
Inflation outlook remains unchanged
At the central bank's March meeting, Draghi suggested he would continue to look through "transient" changes in headline inflation figures and reiterated this view on Thursday.
Improving economic data in Europe appeared to increase pressure on Draghi to reconsider the ECB's bond-buying program yet the central bank chief's reassessment of monetary policy found scant evidence of higher underlying inflation pressures. The euro moved down to $1.0640 shortly after Draghi finished speaking at the conference.
Elsewhere, Bundesbank President Jens Weidmann had suggested he would welcome a move in the opposite direction from the ECB.
Weidmann told German weekly newspaper Die Zelt in an interview published Wednesday that the time for the ECB to scale back monetary stimulus was fast-approaching given the apparent strength of the bloc's economy.
'Now is not the time to hit the exit button'
Meanwhile, S&P chief economist, Paul Sheard told CNBC on Thursday he was probably "more in the Draghi camp" when asked whether he would sympathize with Weidmann's criticism.
"I think after a sustained period of low inflation, weak growth with still unemployment relatively high in the euro zone … Now is not the time to be hitting the exit button," Sheard said.
"Give a little bit more time to run, make sure that this recovery is very, very sound and very, very firm and then I think you can start to move," he added.