President Donald Trump has publicly blamed the Federal Reserve's interest rates hikes for holding back U.S. economic growth.The Fedread more
China's President Xi Jinping arrived in Pyongyang on Thursday morning for a state visit to North Korea — the first by a Chinese state leader in 14 years. Experts say the move...Asia Politicsread more
Gold prices spiked in the afternoon of Asian trading hours on Thursday after a dovish U.S Federal Reserve opened the door to further rate cuts, and the 10-year Treasury yield...Metalsread more
The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
Waymo has signed a deal with Renault and Nissan to develop self-driving cars and trucks for use in France, Japan and possibly other countries in Asia, including China, the...Autosread more
"No U.S. drone was operating in Iranian airspace today," a U.S. Central Command spokesman said, according to NBC News.World Politicsread more
The Fed left interest rates unchanged at its monetary policy meeting. The U.S. central bank did, however, drop the word "patient " from its statement and said it would "act as...Asia Marketsread more
As the presidents of U.S. and China near a highly anticipated meeting on trade, the gap in both sides' expectations regarding a deal remains wide.World Politicsread more
Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
The yield on the benchmark 10-year Treasury note fell below 2% for the first time since November 2016 on Wednesday.Bondsread more
Powell said policymakers are concerned about some of the recent economic developments and see a growing case for easier policy.The Fedread more
Mexico and the United States will reach an agreement that "will be fair to both parties," Michael Milken, chairman of think tank the Milken Institute, said on Thursday.
Milken, who was speaking to CNBC's Oriel Morrison at the 2018 Milken Institute Asia Summit in Singapore, said: "Mexico is extremely important to the United States, the United States to Mexico. And therefore, all the words, all the rhetoric for the last year and a half, will be put to bed. "
The U.S. and Mexico struck a trade deal last month that paved the way to replace North American Free Trade Agreement (NAFTA), the current agreement between the two nations and Canada.
However, the White House would need to ask Congress separately to approve a bilateral track, and once an agreement is reached, it would need to notify Congress again of its intention to send the deal to Capitol Hill for a vote. That process would take 180 days at a minimum.
Negotiations on a deal between the U.S and Canada are still ongoing, and Mexico has said it is keen on Canada joining the agreement to make it trilateral. But it would be ready to pursue a bilateral agreement with the U.S. if talks between Ottawa and Washington do not work out, Mexican Economy Minister Ildefonso Guajardo said on Wednesday.
Milken added: "The new president of Mexico that's coming in was talking about ... closing minerals and energy markets to development. He's now recently announced he's going to continue these programs ... So I think we need to separate what people are saying and what actually happens."
Mexican President-elect Andres Manuel Lopez Obrador, a longtime skeptic of current President Pena Nieto's energy reforms, had spoken of plans to suspend energy auctions and review contracts already awarded.
Milken, who was known as the "junk bond king" in the 1980s, and had pioneered the market for high-yield bonds, also told CNBC he expects the supply chains for Asian companies to expand to become global ones.
"Many years ago, you have countries in Asia that were the primary manufacturers of clothes and et cetera, but their costs increased dramatically, and the people actually moved to other countries and opened plants."
"I will not be surprised to see many businesses and entrepreneurs that are here from China to have factories in other countries in the world in the future, so that they have a global supply chain instead of a supply chain just coming from China. "
— CNBC's Kayla Tausche and Reuters contributed to this report.