A surface-to-air missile shot down a U.S. military drone over the Strait of Hormuz, a U.S. official said Thursday.World Politicsread more
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
It's crucial to note that the culprit behind attacks on two commercial tankers last week has not been conclusively proven.World Politicsread 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 chairman of Societe Generale told CNBC Friday that a selloff in stocks at this stage maybe be good for the global economy.
Stocks have tumbled on the back of concerns surrounding global economic growth and rising interest rates. The International Monetary Fund (IMF) warned earlier this week that simmering trade tensions could lead to a "sudden deterioration in risk sentiment."
The Dow Jones Industrial Average shed more than 1,300 points on Wednesday and Thursday but pre-market trading and European markets suggests that some of those losses will be recouped on the final day of the trading week.
Speaking to CNBC's Nancy Hungerford at the Institute of International Finance meeting in Bali, Societe Generale Chairman Lorenzo Bini Smaghi said a sell-off in stocks was acting as something of a safety valve to prevent a bigger crisis developing later.
"I think you go through these cycles and I think it is better to have them earlier than at the end of the cycle," he said before adding, "To some extent if this doesn't create too much financial contagion, to get to fair conditions I think it's maybe healthy for the economy."
The former central banker admitted that markets were "a bit nervous" about trade, the policy mix in the U.S., and the possibility that stock valuations were a bit excessive.