The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
China's pursuit of the Middle East may spur growth in the Islamic finance sector.World Economyread more
Twitter and Facebook have suspended accounts believed to be tied to a state-backed disinformation campaign originating from inside China.Technologyread more
United States Steel Corp will temporarily lay off hundreds of workers at its Great Lakes facility in Michigan in coming weeks, according to a filing the steelmaker made with...US Marketsread more
The report comes as Trump in recent days has lashed out over media reports about growing recession fears.Politicsread more
Beijing will lower borrowing costs for companies, but that may not boost the economy as much as some hope.China Economyread more
Stocks are bouncing higher but could be trapped in a range longer term, until there's a resolution of the trade wars.Market Insiderread more
Stocks in Asia mostly traded higher Tuesday morning as minutes from the Reserve Bank of Australia's July meeting were released. The People's Bank of China also published its...Asia Marketsread more
Powell will have the opportunity if not to walk back the "midcycle" assessment then to at least provide some further explanation about what it means.Economyread more
Apple has spent more than $6 billion on original TV shows and movies for its forthcoming Apple TV+ service, according to a Financial Times report on Monday.Technologyread more
The Business Roundtable, led by Jamie Dimon, gives a new definition of the "purpose of a corporation."Marketsread more
Trade negotiations between the U.S. and China will yield immediate results that will come even during the 90-day negotiation period ahead, National Economic Council Director Larry Kudlow said Monday.
Tariffs on agriculture and energy products will be lowered while nontariff barriers on American ownership of companies in China also will come down, Kudlow told the Fox Business Network. In addition, Kudlow expects progress on technology transfers and intellectual property.
"Those things should kick in soon. We should see palpable change on the Chinese side immediately," he said. "I don't want to be too specific, but I think the generic answer is we will see changes very quickly."
The two sides announced over the weekend that they reached an agreement in which further tariff escalation would be halted during the 90-day negotiation period. Earlier in the day, Treasury Secretary Steven Mnuchin said he also is optimistic that a deal can be reached after months of tensions between Washington and Beijing.
President Donald Trump has set reducing the trade deficit with China and addressing issues over intellectual property and technology theft as a major priority. He has threatened to level tariffs against all Chinese imports, which have totaled $394.7 billion so far in 2018.
However, Kudlow stressed that the U.S. is eager to keep trade lively with China so long as an agreement is reached.
"If China opens its markets as they promised to do, and they're going to do it fast according to their promises, we will increase our exports substantially for the simple reason that whether it's agriculture or industry, the U.S. is the most competitive economy in the world today as a result of pro-growth measures taken by President Trump, with lower taxes and deregulation and so forth," he said.
Like Mnuchin, Kudlow said he wants to see quick resolution to the differences and "not let let this meander and wander on forever and ever."
"All that needs to start fast, and we will be tracking it," he said. "We will be tracking it, because we have had promises in the past from China and the promises have not worked out."
Later in the day, Kudlow again stressed the importance of getting something done quickly.
"It's all going to be very fast. A lot of this is going to hinge on the speed of the Chinese commitments," he said during a conference all with reporters.