The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread 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
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.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
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Megvii is known for its facial recognition technology and while revenue grew over 350% in 2018, its losses have widened.Technologyread more
Marijuana stocks ripped higher Thursday after the U.S. Drug Enforcement Administration classified a cannabidiol-based drug made by GW Pharmaceuticals in its least restrictive category, setting the stage for commercial launch.
Shares of the Cambridge, U.K.-based company rose 7 percent to an all-time high Thursday morning following the announcement. Peer Canada-based cannabis company Tilray rose 14.7 percent.
Epidiolex, the new GW Pharmaceuticals drug, uses cannabidiol, or CBD, to help with the treatment of seizures stemming from two rare and severe forms of epilepsy.
This announcement "renders the launch set-up fairly straightforward for GW into a market where there is significant unmet medical need and very high pent up awareness/demand," wrote Stifel analyst Paul Mattela.
"We continue to recommend the stock on the basis that we believe the Epidiolex launch can exceed first year expectations," the analyst added.
News of the mild DEA classification comes amid growing fascination on Wall Street over a handful of companies engaged in the cultivation and production of cannabis products for either medical or nonmedical purposes.
Other stocks in the limelight include pharmaceutical companies, including GW Pharmaceuticals, that produce and market drugs that use cannabinoids.
Tilray, for example, enthralled Wall Street last week after posting its best day ever following approval from the Drug Enforcement Administration to import pot to the United States for medical research.
Given the excitement around what appears to be an amenable DEA, Tilray shares have swung wildly over the last 10 days as investors are pinned between interest in a stake in the burgeoning industry and fears of an asset bubble.
Though both Aurora Cannabis and Canopy Growth — two other marijuana plays — traded lower Thursday, both stocks have endured similar frenzy over the last few weeks.