Huawei CEO Ren Zhengfei said in an interview with CNBC the company's business is still strong in China, and it expects $100 billion in revenue this year.Technologyread more
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
Indigo Partners is to use the A321 XLR jets across airlines it runs out of the United States, Chile and Mexico.Paris Air Showread more
International benchmark Brent crude and U.S. West Texas Intermediate (WTI) both jumped earlier this week to levels last seen in November 2014, as oil traders await U.S. sanctions against Iran's oil imports.
"Russia is not really interested in incredibly high oil prices, we actually feel that the current level is even (too) high and maybe should be a little bit lower," Kirill Dmitriev, the chief executive of the Russian Direct Investment Fund (RDIF) told CNBC's Geoff Cutmore in Moscow on Wednesday.
"Cooperation with OPEC is not only an agreement to increase prices, it is an agreement to stabilize prices. So, if prices become too high then both Saudi Arabia and us have the capability and capacity to increase production," Dmitriev said.
Brent crude traded at around $85.30 on Wednesday, up around 0.6 percent, while U.S. West Texas Intermediate (WTI) stood at around $75.55, more than 0.4 percent higher.
Both Brent and WTI contracts have soared by around 20 percent and 17 percent respectively since mid-August.
Late last month, President Donald Trump urged OPEC producers to ratchet up production levels to prevent further price rises ahead of the mid-term elections in early November.
The Trump administration's push for the Middle East-dominated cartel to start pumping more oil comes as the White House prepares to impose sanctions against Iran in just under five weeks' time.
U.S. sanctions against Tehran are widely expected to have an immediate impact on Iran's oil exports, although the estimates of exactly how much of the country's oil could disappear from November 4 vary widely.
Some energy market analysts expect around 500,000 barrels per day (bpd) to disappear once U.S. sanctions against Iran come into force, while others have warned as much as 2 million bpd could come offline over the coming months.
"The Iran factor is the primary near-term price driver and as such spikes will be the norm in the coming weeks," Stephen Brennock, oil analyst at PVM Oil Associates, said in a research note published Wednesday.
"The bullish roller-coaster will remain in full-swing for now, but don't be surprised if it grinds to a halt as we approach the turn of the year," Brennock added.