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
Morningstar is tumbling after The Wall Street Journal slapped the Chicago, Illinois-based mutual fund rating company with a bad rating of its own.
'MORN' was trading down 4 percent Wednesday for its biggest drop in two years following a 4,000-word article in the Journal that raised serious questions about the effectiveness of Morningstar's coveted rating system.
The Journal tested Morningstar's rating system by examining the performance of thousands of funds that the company reviewed over nearly 15 years. They found that funds the company rated highly failed to deliver.
While the Journal found that most five-star funds outperformed, "on the average, five-star funds eventually turn into merely ordinary performers." Only 12 percent of funds given five stars did well enough to earn the same rating over the next five years.
"Billions of investor dollars hang in the balance," they wrote.
Morningstar did not respond to a request for comment from CNBC.
The company told the Journal that the "star rating works well when it's used as intended: as a first-stage screen that helps identify lower-cost, lower-risk funds with good long-term performance."
"It is not meant to be used in isolation or as a predictive measure," Morningstar said. "Reversion to the mean is a powerful force that can affect any investment vehicle."
Morningstar has been performing well this year. Even accounting for Wednesday's decline, the company's stock is up almost 20 percent over the past 12 months.