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
Puerto Rico governor Ricardo Rossello has a message for Puerto Rico's bondholders.
Hurricane Maria has stoked fear among those who hold Puerto Rican debt. Rossello urged bondholders to look past the dollars and help the island secure money to rebuild from Congress.
"We're all one right now, and what we need to do is go to Congress, ask for a real aid package for Puerto Rico and make sure that we can have the initial conditions so that we can get out of the emergency phase but start rebuilding. And rebuilding better than ever. That is better for all of the bondholders, all of the stakeholders and all of the people in Puerto Rico," Rossello told Marcus Lemonis on CNBC's "Closing Bell" on Wednesday.
Puerto Rican bonds plunged Wednesday after President Donald Trump said Puerto Rico's $72 billion debt should be wiped away. It is unlikely that Trump will be able to follow through on the idea, but it has prompted worry on Wall Street nonetheless.
The island needs to rebuild its pharmaceutical capabilities and revamp its tourism business, Rossello said. He pleaded for an aid package from Congress that would help.
Puerto Rico will have to rebuild without much cash, Rossello said. He wants to use the cash the island does have effectively. Rossello pointed to budget cuts he has already overseen since taking office in January.
"So our commitment to make changes in government to make sure it's a more effective economy, to put things into the private sector's hands so that they can develop it, is still there," he said.