Tensions between Japan and South Korea come as the U.S. and its trading partners are embroiled in a global trade war.Technologyread more
The one-to-eight stock split would mean the current number of ordinary shares — which stands at 4 billion — will increase to 32 billion. It comes ahead of a reported Hong Kong...Asia Marketsread more
Minutes from the Reserve Bank of Australia's monetary policy meeting in July showed the central bank was ready to adjust interest rates if required.Asia Marketsread more
Current and former Tesla employees working in the company's open-air "tent" factory say they felt pressure to take shortcuts to hit aggressive Model 3 production goals,...Technologyread more
China's fiscal spending increased 10.7% in the first six months from a year earlier, the finance ministry said on Tuesday, underlining the government's bid to support the...China Economyread more
The findings by McKinsey and Company come amid a year-long tariff fight between the U.S. and China, which has spilled into areas such as technology and security.China Economyread more
Microsoft's considerable reach into the corporate world isn't something Slack CEO Stewart Butterfield is very concerned about.Technologyread more
Von der Leyen, one of the longest serving ministers in Germany, has tried to woo European lawmakers over the last two weeks.Europe Newsread more
A devastating outbreak of African swine fever that has killed millions of pigs in China is changing attitudes in a country where farm hygiene has often been seen as lax by...Livestockread more
In a closed-door meeting at a Manhattan mansion, executives outlined changes to controversial software that was implicated in two crashes.Aerospace & Defenseread more
President Donald Trump and the RNC are picking up key supporters in the business community who did not back him as a candidate in 2016.2020 Electionsread more
A "more severe" stock market correction lies ahead, according to the head of Allianz.
"Equity markets have really been buoyant for a long time now and valuations are extremely high, higher than you can actually justify based on fundamentals," Allianz Chief Executive Oliver Bate told CNBC Saturday at the China Development Forum in Beijing.
"Markets are starting to get jittery and we would expect a more severe correction over the medium to long term," he said.
Although Bate said the exact timing of such an event remained to be seen, he added that his Munich-based financial services firm believed market risk was "severely mispriced" and was being "very, very careful" as a result.
Bate has warned previously of dangers ahead in the market. In January, the Allianz chief told CNBC it was "absolutely clear" that a correction in the markets would happen.
Several weeks after his comments, in early February, stock markets stateside fell more than 10 percent from recent record highs, with major U.S. and global stock indexes moving into correction territory.
Meanwhile, fears of a potential trade war breaking out following recent moves from the U.S. that would implement tariffs on up to $60 billion worth of Chinese imports have also not alleviated the situation. Beijing, for its part, has proposed a list of 128 U.S. products, worth around $3 billion in 2017, that it could potentially target as a response to earlier U.S. steel and aluminum tariffs.
"It's certainly not helping to stabilize markets," Bate said.
Trade-related investor concerns saw the Dow Jones industrial average close in correction on Friday, with the 30-stock index falling 5.7 percent for the week. Asian and European markets also fell last week as markets digested the possibility of elevated trade tensions ahead.