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
Speaking at a post-policy meeting press conference in Frankfurt, Draghi told reporters: "For us, the crisis actually started before Lehman. The first serious signs of an impending crisis actually date back to September 2007."
"What I remember of that incident was the extraordinary effort of international cooperation at world level. In other words, even before Lehman it was quite clear that the financial crisis was coming. And it would have unprecedented proportions and was worldwide," he added.
Draghi's comments come 10 years after Lehman Brothers filed for bankruptcy — a moment many external observers identify as pivotal in the unfolding of the global financial crisis.
The failure of Lehman Brothers in 2008 roiled global markets. It was the fourth-largest U.S. investment bank when it collapsed in September 2008, prompting an erosion of nearly $10 trillion in market capitalization in global equities in the following month.
Draghi was speaking in Frankfurt shortly after the ECB announced interest rates would remain unchanged in September.
The ECB chief reaffirmed his confidence in the regional economy, saying it would most likely be robust enough to absorb spare capacity and generate inflation.
However, he did warn global risks had gained more "prominence" in recent months, amid rising protectionism and financial market volatility.
Draghi also said small cuts had been made to the bank's growth forecasts for this year and next. The central bank now expects growth of 2 percent this year and 1.8 percent in 2019 — slightly lower than previous projections of 2.1 percent and 1.9 percent.
ECB policymakers maintained the bank's forecast of annual inflation at 1.7 percent through to 2020, with Draghi saying this was consistent with the ECB's target of near 2 percent.
Thursday's decision sees the ECB's deposit rate — currently its primary interest rate tool — remain unchanged at -0.4 percent, while the main refinancing rate was held steady at 0 percent.
Holger Schmieding, chief economist at Berenberg Bank, told CNBC on Thursday that there was "no surprise" with the bank's decision.
He added he now expects the bank to raise rates in two steps late next year, in September and December 2019. This would bring the refinancing rate