Trump's remarks came a day before the Fed was set to announce its next decision on interest rates.Politicsread more
The U.S. and China have imposed tariffs on billions of dollars' worth of one another's goods since the start of 2018.Traderead more
More and more American firms are calling for the Trump administration to resolve its conflict with China.World Economyread more
In a tweet, Trump said that he and Xi "had a very good telephone conversation," and that "our respective teams will begin talks prior to our meeting."Politicsread more
China is reducing support for its electric carmakers a move experts and industry insiders warn could lead to consolidation and waning investor appetite. But some of the...Technologyread more
Is your CEO on the list? Glassdoor has the results.Power Playersread more
Joseph Gaspar, the chief financial officer at Elbit Systems, said M&A among firms in the sector began to pick up pace in the 1980s and looks set to continue.Paris Air Showread more
Stocks in Asia rose on Wednesday following positive developments overnight on the U.S.-China trade front.Asia Marketsread more
The U.S. Department of Defense has hit back at Russian officials who have criticized a U.S. plan to deploy more troops to the Middle East.World Politicsread more
Signs of companies moving out of Hong Kong have emerged, members of the business community told CNBC following massive protests in the city. But one analyst said Hong Kong's...China Politicsread more
Sen. Josh Hawley, a well-known tech critic, introduced legislation on Wednesday that would remove the immunity big technology companies receive for user-posted content under...Technologyread more
U.S. consumer prices barely rose in June, but the underlying trend continued to point to a steady buildup of inflation pressures that could keep the Federal Reserve on a path of gradual interest rate increases.
The Labor Department said on Thursday its Consumer Price Index edged up 0.1 percent as gasoline price increases moderated and apparel prices fell. The CPI rose 0.2 percent in May.
In the 12 months through June, the CPI increased 2.9 percent, the biggest gain since February 2012, after advancing 2.8 percent in May.
Excluding the volatile food and energy components, the CPI rose 0.2 percent, matching May's gain. That lifted the annual increase in the so-called core CPI to 2.3 percent, the largest rise since January 2017, from 2.2 percent in May.
Economists polled by Reuters had forecast both the CPI and core CPI rising 0.2 percent in June.
The Fed tracks a different inflation measure, which hit the U.S. central bank's 2 percent target in May for the first time in six years. Economists expect the personal consumption expenditures (PCE) price index excluding food and energy will overshoot its target.
A tightening labor market and rising raw material costs are expected to push up inflation through next year. Manufacturers are facing rising input costs, in part because of tariffs imposed by the Trump administration on lumber, aluminum and steel imports.
So far, they have not passed on those higher costs to consumers. Fed officials have indicated they would not be too concerned with inflation overshooting its target. The Fed raised interest rates in June for a second time this year and has forecast two more rate hikes before the end of 2018.
Last month, gasoline prices rose 0.5 percent after increasing 1.7 percent in May. Food prices gained 0.2 percent after being unchanged in May. Food consumed at home rebounded 0.2 percent after falling 0.2 percent in May.
Owners' equivalent rent of primary residence, which is what a homeowner would pay to rent or receive from renting a home, rose 0.3 percent last month after increasing by the same margin in May.
Healthcare costs advanced 0.4 percent after gaining 0.2 percent in May. Prices for new motor vehicles rose 0.4 percent in June following a 0.3 percent increase in the prior month. But apparel prices fell 0.9 percent after being unchanged in May. The cost of airline tickets declined for a third straight month.
There were also decreases in the prices of household furnishings and tobacco.