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
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
Japan's Panasonic said on Thursday it has stopped shipments of certain components to Huawei Technologies to comply with U.S. restrictions on the Chinese company.Technologyread more
Treasury Secretary Steven Mnuchin told CNBC on Wednesday that a trip to Beijing to resume trade negotiations has not been scheduled yet, reducing hopes of a speedy resolution...Asia Marketsread more
Research analyst Adam Jonas, a long-time Tesla bull, said it's extremely unlikely that big tech firms like Apple or Amazon would buy it.Technologyread more
The disclosures come as a federal judge ruled Wednesday that two other banks — Deutsche Bank and Capital One — can give financial documents to Congress, NBC News reports.Politicsread more
European stocks finished Tuesday's session deep in the red, amid political uncertainty in Italy and an unresolved trade dispute between the U.S. and China.
The pan-European Stoxx 600 closed down 0.52 percent, with the majority of sectors ending the day on a negative note. Basic resources outperformed, on the back of a rise in metal prices.
Europe's banking index saw solid losses during Tuesday's trade, closing down 0.97 percent after a prominent Italian lawmaker said Rome would enjoy more favorable economic conditions outside the euro zone. Italy's FTSE MIB fell earlier in the session but pared those losses, to close slightly lower.
Claudio Borghi, a euroskeptic economist who chairs the budget committee of the lower house of Italy's parliament, said in a radio interview Tuesday that he was "truly convinced" most of the country's problems would be solved if it had its own currency.
Borghi's comments were quickly contradicted by Italy's deputy prime minister, Luigi Di Maio, who said said Italy's coalition government did not want to leave the European Union or the single currency. Italian Prime Minister Giuseppe Conte also rebuffed the comments, saying the euro was "unrenounceable" for the country. Nonetheless, several of Italy's banks were trading lower Tuesday, with Unicredit, Ubi Banca and Banco Bpm all down 1.85 percent or more by the close.
Looking at individual stocks, Britain's Royal Mail slumped to the bottom of the European benchmark after the postal service company issued a profit warning on Monday. Shares of Royal Mail plummeted 8.38 percent on Tuesday, after a number of brokers cut their price targets on the stock.
Wienerberger meantime climbed to the top of the continental benchmark after the firm issued upbeat earnings guidance, saying it foresaw an accelerated pace of growth and increased its medium-term targets. Shares of the firm jumped over 6 percent.
On Wall Street, stocks rose around Europe's close with the Dow hitting a record high in trade, supported by gains seen in Intel and optimism surrounding trade.
Investors continue to closely watch global trade developments, after the U.S. and Canada forged a last-gasp deal on Sunday to revamp NAFTA as a trilateral pact with Mexico. The accord rescued a $1.2 trillion open-trade zone that had been about to collapse after almost quarter of a century.
Attention however has swiftly turned once again to China, which is still engaged in a trade war with the U.S. Ratings agencies Fitch and Moody's on Tuesday warned of the ongoing threat of the trade dispute between the world's two largest economies. Fitch said it posed downside risks to 2019 growth projections while Moody's said U.S.-Sino trade tensions will escalate.
Meanwhile, over in Britain, a hotly anticipated speech by former U.K. Foreign Secretary Boris Johnson was met with applause at the reigning Conservative Party's annual conference, and was interpreted by observers as a potential leadership challenge to Prime Minister Theresa May. Johnson said in his speech that the country ought to "chuck" May's so-called Chequers plan, which he said was "politically humiliating." Sterling fell against the dollar during trade.