Treasury Secretary Steven Mnuchin has concerns about Facebook's proposed cryptocurrency and its potential illicit use.Marketsread more
Some White House officials expect the Cabinet secretary, who has known the president for years, to depart as soon as this summer.Politicsread more
The Guggenheim CIO says he had been approached by the White House about possibly joining the Federal Reserve.The Fedread more
Epstein is accused of sexually exploiting dozens of underage girls from 2002 through 2005 at his New York and Florida residences. He is a former friend of Presidents Donald...Politicsread more
When you think of Prime Day, you might be thinking about deals on Instant Pots and Amazon Echo devices — not half-off dresses and designer heels. But the market for apparel...Retailread more
Joe Lonsdale says his fellow Palantir co-founder Peter Thiel was "courageous" for speaking out against Alphabet's Google.Technologyread more
Wall Street analysts say it is increasingly possible the Trump administration will try using a stronger weapon in the currency wars than just presidential tweets.Market Insiderread more
Twitter has rebuilt its website from the ground up for the first time ever, here's what it looks like.Technologyread more
Amazon is expanding its empire and Morgan Stanley believes Bezos' ambitious satellite internet plan could become very lucrative.Investing in Spaceread more
Charles Schwab is in talks to buy USAA's brokerage and wealth-management operations for about $2 billion, The Wall Street Journal reported.Wall Streetread more
The talks are expected to be the most contentious in a decade amid "America first" policies from the Trump administration, a tight labor market and thousands of job cuts and...Autosread more
Zhang Xin, chief executive of real estate developer Soho China, said on Saturday that the country's economy is too "soft" for such a tax.
"In today's market, when the economy is so soft ... this would just be a really hard time to introduce something so impactful, " said Zhang, who spoke with CNBC's Eunice Yoon at the China Development Forum in Beijing.
Local governments have also opposed the idea of a tax, because they rely on land sales for revenue. Pilot schemes were rolled out in cities such as Shanghai, but China has been slow to introduce the tax nationwide.
At this year's annual National People's Congress in Beijing, senior officials said work on a draft for the tax was "steadily advancing."
Authorities also announced that local governments would have autonomy over the actual rate of the tax in order to minimize its effect on house prices.
Soho's Zhang, however, argued that the tax could hurt the country's already-slowing economy.
Property-related industries, such as the steel and cement sectors, account for about 35 percent of the economy, according to Zhang. As a result, implementing the new tax would have a "huge impact" on both the real estate market and the wider economy, she said.
"I doubt ... this time would be the right time to introduce the property tax, knowing that they've already eased the credit to boost the economy," she said.
"If this sector gets taxed regularly, repeated and heavily," Zhang said, "it will surely have a strong impact."