Experts believe a wider spat with Europe would be much more damaging than the current tit-for-tat with China.Traderead more
After the Fed released minutes of its last meeting, the bond market signaled it fears the Fed will not be aggressive enough with its rate cutting.Market Insiderread more
The Fed minutes also note that "a couple" members wanted a 50 basis point cut, based primarily on the weak inflation readings.The Fedread more
Markets pay particular attention to Italy's spending, given its public debt pile. This stands at above 130% of its growth rate, one of the highest in the world.Politicsread more
Flight bookings to Hong Kong have fallen 10%, hit by the unrest in the city, said Alan Joyce, the chief executive of Australian carrier Qantas Airways.Airlinesread more
Analysts generally doubt how effective the People Bank of China's latest interest rate announcement will be in significantly helping businesses grow.China Economyread more
These in-demand skills can command top pay packets, says Feon Ang of professional networking site LinkedIn.Get Aheadread more
Japanese manufacturing activity shrank for a fourth straight month in August as export orders fell at a sharper pace.Asia Marketsread more
The Washington governor had centered his campaign around climate change, calling it "the most urgent challenge of our time."Politicsread more
The inversion is seen by many veteran traders as an important recession omen, though the timing on the eventual downturn is less predictable.Bondsread more
Here's what Nordstrom reported for its fiscal second-quarter earnings.Retailread more
The Iraqi oil minister has repeated his call for an extension to a cap on global oil supplies and added that the deal would not need any mid-term review.
OPEC and countries outside the cartel, such as Russia, will meet in Vienna Thursday to consider whether an existing curb on supply, should be extended by nine months.
The current agreement runs out at the end of March and Jabar al-Luaibi, Iraq's oil minister, said Wednesday that any mid-stream review was unnecessary.
"No, no. The existing declaration (will) finish at the end of March. So we extend this another nine months, so that means it will end by the end of 2018," said Al-Luaibi.
Al-Luaibi added that while he was happy with the current price of oil he was also keen it didn't encourage others to overproduce.
"We are happy with $60, maybe a little bit more than $60, but we have to be careful about the effect on the other side of the river," the minister said.
The price of oil collapsed from near $120 a barrel in June 2014 due to weak demand, a strong dollar and booming U.S. shale production. OPEC's reluctance to cut output was also seen as a key reason behind the fall. But, the oil cartel soon moved to curb production — along with other oil-producing nations — in late 2016. The oil exporters then extended that agreement through to March 2018.
Following Al-Luaibi comments, the energy minister for the United Arab Emirates, also speaking in Vienna, dismissed the idea that the Iraqi viewpoint meant an agreement had been reached.
There are concerns that Russia could up-end plans to extend a deal to increase output cuts due to domestic pressures. But Suhail al Mazroui, United Arab Emirates oil minister, told CNBC Wednesday that all the participating countries were making every effort to strike a deal, including Russia.
"Every country has a voice and every country needs to agree. OPEC is a consensus," he said.
"It is not (just so) a country could be blocking a decision. Therefore we need to wait for the meeting. And I am optimistic," he added.