President Donald Trump said on Monday that China is ready to come back to the negotiating table and the two countries will start talking very seriously.Politicsread more
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
European stocks closed higher Wednesday afternoon, amid a global rally, as investor sentiment was buoyed by a slew of corporate earnings.
The pan-European Stoxx 600 closed up 0.45 percent provisionally. The German DAX made the biggest gains of the major European bourses, up 1.78 percent for the session. The DAX rallied after being closed for trading Tuesday. Volkswagen topped the bourse, with its stock hitting pre-emissions scandal levels for the first time, closing up 4.8 percent after a price upgrade and upbeat sales data.
Basic resources stocks were the top performing sector, trading up by 2.7 percent, following positive manufacturing data released in China. Metal prices also posted strong gains. Meanwhile, in earnings news Nokian posted sales and operating profit above expectations for its third quarter, which sent shares of the tyremaker up by 4 percent. The stock revered those gains later in the day and closed flat.
Retail stocks closed down over 1 percent on disappointing outlooks for the industry. The British retailer Next tumbled to the bottom of the European benchmark, closing down over 9 percent after announcing that trading remained "extremely volatile," though sales rose in the third quarter of the year. Fellow U.K. retailer Marks and Spencer also closed in the red, the second worst performing retail stock at -4.4 percent.
Standard Chartered more than doubled its net profits in the third quarter of the year, but shares ended the day's trading over 6 percent lower as investors raised concerns over its recovery plan. The bank was near the bottom of the STOXX 600.
In other market news, the pharmaceutical firm Indivior rose to the top of the European benchmark, up by nearly 8 percent after receiving approval for a new drug for opioid addiction treatment.
U.S. equities were trading at record highs just as the Federal Reserve is set to announce its latest monetary policy decision. Although markets are not expecting a rate hike, the meeting could be the last before President Donald Trump announces who is going to replace current chair Janet Yellen.
Fed Governor Jerome Powell is the odds-on favorite for the top job at the U.S. central bank. Investors will also be watching the Fed for clues on a possible December interest rate rise.
Overnight, eight people died in a terrorist attack in Manhattan, New York. An Uzbek immigrant is accused of mowing down pedestrians and cyclists on a bike path, leaving a dozen others injured. According to the NYPD, the man had been plotting the attack for "a number of weeks." President Trump, who dubbed the incident "a terrorist attack," said the act was carried by a "sick and deranged person."