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
China's state media is putting up a brave front as the country's trade war with the U.S. escalated sharply over the weekend.China Economyread 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
U.S. stock futures surged Monday morning after President Trump said China is ready to come back to the negotiating table following a phone call Sunday and the two countries...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
Barclays shares surged 5 percent higher Thursday morning on positive pre-tax earnings news and the announcement that it would double its dividend for 2018.
The U.K. bank's pre-tax profit rose by 10 percent to £3.54 billion ($4.92 billion) in 2017, and customer deposits increased 2 percent to £193.4 billion. Barclays also announced a restoration of its dividend to 6.5 pence per share for 2018, more than double the last year's full-year dividend of 3 pence.
This was reflected in the price of Barclays' shares, which were trading as high as 5.2 percent against the previous day in morning deals.
While pre-tax profits surpassed the 2016 figure of £3.2 billion, they fell short of analysts' averaged expectations of £4.7 billion. However, this forecast was not updated to account for the tax write-down from the U.S., according to Reuters.
Full-year 2017 net profits took a hit in part from the U.S. tax overhaul and a weaker dollar.
Barclays' net loss was £1.92 billion, part of which was a one-off £901 million charge on U.S. deferred tax assets.
Numerous banks have seen tax write-downs in the billions in their fourth quarter results due to the Republican-led tax overhaul passed in December of last year, though the losses are expected to be one-offs.
The bank's sell-down of its Barclays Africa unit also dragged down its profit for the year. The sell-down of its shareholding in Barclays Africa, closure of its non-core unit, establishment of its Service Company and creation of its U.K. ring-fenced bank made 2017 "a year of considerable strategic progress for Barclays," CEO Jes Staley said in a press release.
"2018 will be the first year in five years that this bank begins with a clean operating model," Staley told CNBC shortly after the figures were announced. The bank has been struggling to shake off issues with its reputation after several years of scandal, the most recent of which centered on allegations of unlawful whistleblower mistreatment in early 2017.
Staley took charge of the bank in 2015 on a pledge to rebuild the bank's image, and is its fifth CEO in seven years.
"We still have some legacy issues ... But we are very comfortable with the position of the bank," he added.