Richard Yu, CEO of Huawei's consumer business, said Huawei's own operating system for smartphones and laptops could be ready for use in China by fall this year.Technologyread more
The embattled German lender saw its share price hit a record low Monday, down nearly 5% since the start of the year.Banksread more
Lawmakers, lobbyists and CEOs in the U.S. are looking to trying to pick out the best parts of the EU's privacy law called GDPR – and ditch what they see as the worst.Technologyread more
Shares of Chinese telecommunications heavyweight Huawei's suppliers took a hit on Thursday afternoon amid the ongoing fallout surrounding the Chinese telecommunications giant.Asia Marketsread more
After holding parliamentary elections over seven phases, India started counting the votes on Thursday — and Prime Minister Narendra Modi's Bharatiya Janata Party-led coalition...Electionsread more
Among the many ways Trump has shattered White House norms, his impulsive public communications rank among the most consequential. By inspiring investors or spooking them, his...Politicsread more
A federal judge in New York City on Wednesday said Deutsche Bank and Capital One can turn over financial documents related to President Donald Trump and his businesses in...Politicsread more
China accounted for 40% to 60% of the global increase in trichlorofluoromethane, or CFC-11, emissions between 2014 and 2017, a study found.Scienceread more
CNEX, backed by Microsoft and Dell, filed new allegations in a Texas suit accusing China's Huawei and an executive of trade secrets theft.Technologyread more
With Amazon and Walmart facing regulatory hurdles in India, Reliance's Mukesh Ambani isTechnologyread more
Tech usage and addiction inspires a billion-dollar mindfulness industry. CNBC's Uptin Saiidi attempts three days without any digital gadgets.Technologyread more
The U.S. dollar fell on Wednesday as the euro recovered from 10-month lows after reports that Italy's biggest party would make a renewed attempt to form a coalition government and end months of political turmoil.
An attempt by two anti-establishment parties to form a new government in Italy collapsed over the weekend, raising the prospect of an early election. Markets feared that election would become a de facto referendum on Italy's use of the euro.
A source close to 5-Star, the single largest party in the new parliament, said it would try again to form a coalition with the right-wing League. Without a deal, sources said President Sergio Mattarella could dissolve parliament in the coming days and send Italians back to the polls as early as July 29.
The euro rallied and Italian government bond yields settled below multi-year highs after Tuesday's market slide.
The dollar index, which tracks the greenback against a basket of six currencies, was down 0.71 percent on Wednesday to 94.16, below Tuesday's 6-1/2-month high.
The dollar gained 0.16 percent against the yen at 108.92.
"We're seeing a relief trade today. Markets passed through the panic from yesterday so everything that sold off hard is climbing back, the euro in particular," said Greg Anderson, global head of FX strategy at BMO Capital Markets in New York.
A smooth auction of Italian government debt also helped soothe market jitters.
The single currency, which plunged to a 10-month low of $1.1510 on Tuesday, rose as much as 0.9 percent to a session high of $1.1647 on Wednesday. It remains down 4 percent this month against the dollar.
The Canadian dollar rose as much as 1.2 percent on Wednesday after the country's central bank held interest rates steady but suggested that it could raise rates soon, possibly as early as July.
"The bottom line is that they'll be hiking in July unless some surprise occurs," Anderson said. He noted that the loonie on Wednesday "appreciated in an important way, not just against the dollar, but across all axes, for example, Aussie/CAD. "