Google has suspended business activity involving the transfer of hardware, software and key technical services with Huawei. Analysts say that could be a big blow to the...Technologyread more
Huawei Technologies will immediately lose access to updates to the Android operating system, a source close the matter told Reuters.Technologyread more
Huawei claims it has developed its own operating system for smartphones and laptops for "extenuating circumstances."Technologyread more
Current geopolitical tensions are making it harder and harder for oil-producing nations to make decisions that will help stabilize crude prices, Russian Energy Minister...Oilread more
Oil prices jumped on Monday after Saudi Energy Minister Khalid al-Falih indicated there was a consensus among OPEC and allied oil producers to continue limiting supply.Energyread more
Bank, property and healthcare stocks jumped, pushing Australian markets to a 11-year high, as Scott Morrison and the Liberal-led conservation government are poised for a...World Marketsread more
Trump's threat, posted on Twitter, comes amid rising international tensions in the Middle East as the U.S. has dispatched a carrier strike group and bomber task force to the...Politicsread more
Prime Minister Narendra Modi and his Bharatiya Janata Party are set to form the new government again, exit polls from India's month-long parliamentary elections show. But past...Electionsread more
The latest crisis in the uneasy French-German relationship was accelerated by Trump's decision to stop Germany's comfortable and decades-old free-riding on trade and security...Europe Politicsread more
While some fans of the long-running "Game of Thrones" felt satisfied by the show's final bow, others were quick to express their displeasure with how events unfolded.Entertainmentread more
Stocks in Asia were mixed on Monday amid a series of geopolitical developments across the region.Asia Marketsread more
The U.S trade deficit with its global partners fell in November for the first time after five straight months of increases as the shortfall with China and several other countries declined.
Tightening the balance between imports and exports has been a major goal of the Trump administration, which last year started levying tariffs in an effort to close the gap.
A release from the government Wednesday showed the gap had closed in November, the most recent month for which data was available, to $49.3 billion from $55.7 billion in October, representing an 11.5 percent decline. Economists surveyed by Dow Jones had been looking for a deficit of $54.3 billion.
The decline was largely due to a slide in imports, which fell 2.9 percent to $259.2 billion. Exports edged lower to $209.9 billion, a 0.6 percent drop.
In all, the year-to-date goods and services deficit increased by $51.9 billion, a 10.4 percent rise from the same period in 2017. Exports rose $157.1 billion or 7.3 percent, while imports gained $208.9 billion or 7.9 percent.
On a broader level, the drop in the trade deficit will serve as a boost to fourth-quarter GDP, which is expected to show a 2.5 percent increase, according to CNBC's Rapid Update tracker as well as the Atlanta Fed's GDPNow measure.
How the trade tensions play out over a longer period, though, is unknown as the U.S-China talks continue ahead of a March 2 deadline for imposition of another round of tariffs.
"America's trade fight with the world has finally started to slow global trade and only time will tell whether this is a good thing for the economy in the long run," Chris Rupkey, chief financial economist at MUFG, said in anote.
Among individual countries, the gap with China closed $2.8 billion to $35.4 billion.
Treasury Secretary Steven Mnuchin told CNBC in an interview Wednesday that trade talks have been "very productive."