In a room full of avowed capitalists, policies that sound to some like socialism are bound not to go over well.Delivering Alpharead more
At least in terms of monetary policy, Pence says should be taking after other regions who keep their benchmark interest rates near zero.Delivering Alpharead more
AT&T isn't focused on selling or divesting DirecTV, despite pressure from stakeholder Elliott Management, sources tell CNBC.Technologyread more
The measure to keep the government running through Nov. 21 now heads to the Senate, where McConnell has signaled he will back a temporary spending plan.Politicsread more
Amazon's purchase comes as part of its plan to convert its delivery fleet to 100% renewable energy by 2030. The e-commerce retailer already runs 40% of its fleet on renewable...Autosread more
As part of the plan, Amazon has agreed to purchase 100,000 electric delivery vans from vehicle manufacturer Rivian.Technologyread more
Apple's iOS 13.1 will be released on Sept. 24, six days earlier than previously announced.Technologyread more
The plan will allow Medicare to negotiate lower prices on as many as 250 drugs and apply those discounts to private health plans.Health and Scienceread more
Hedge fund titan Leon Cooperman said he's concerned about a shift to the left in the political landscape, which could harm the economy and the stock market.Delivering Alpharead more
The move could bring a welcome salve to farmers caught in the crosshairs of the trade war if it results in a reopening of the market.Politicsread more
The pilot program will deliver food and beverage, over-the-counter medications and other items within minutes, the company said. Prescription deliveries will not be available.Health and Scienceread more
* G20 finmins reaffirm Buenos Aires trade language-communique
* Rocky talks nearly aborted issuance of G20 communique-sources
* Communique deletes clause on need to resolve trade tensions
* G20 finmins pledge tax deal by 2020 for new rules on tech giants (Updates with final issued G20 communique language)
FUKUOKA, Japan, June 9 (Reuters) - Group of 20 finance leaders said on Sunday that trade and geopolitical tensions have "intensified", raising risks to improving global growth, but they stopped short of calling for a resolution of a deepening U.S.-China trade conflict.
After rocky negotiations that nearly aborted the issuance of a communique, finance ministers and central bank governors meeting in southern Japan, affirmed language issued in Buenos Aires last December that offered tepid support for a rules-based multilateral trading system.
"Global growth appears to be stabilizing, and is generally projected to pick up moderately later this year and into 2020," the G20 finance leaders said in a communique issued as the meetings in Fukuoka closed.
"However, growth remains low and risks remain tilted to the downside. Most importantly, trade and geopolitical tensions have intensified. We will continue to address these risks, and stand ready to take further action," the communique said.
It also said that G20 finance leaders had agreed to compile common rules by 2020 to close loopholes used by global tech giants such as Facebook and Google to reduce their corporate taxes.
The communique also contained pledges to increase debt transparency on the part of both borrowers and creditors and to make infrastructure development more sustainable, an initiative launched in the wake of complaints that China's massive Belt and Road infrastructure drive was saddling poor countries with debt they can't repay.
But the final communique language excluded a proposed clause to "recognise the pressing need to resolve trade tensions" from a previous draft that was debated on Saturday.
The deletion, which G20 sources said came at the insistence of the United States, shows a desire by Washington to avoid encumbrances as it increases tariffs on Chinese goods. The statement also contains no admissions that the deepening U.S.-China trade conflict was hurting global growth.
International Monetary Fund Managing Director Christine Lagarde said she "emphasized that the first priority should be to resolve the current trade tensions" while working to modernize international trading rules.
The IMF warned earlier this week that while growth was still expected to improve this year and next, the U.S.-China tariff war could lop 0.5 percent from global GDP output in 2020, about the size of G20 member South Africa's economy.
U.S. Treasury Secretary Steven Mnuchin said on Saturday he did not see any impact on U.S. growth from the trade conflict, and that the government would take steps to protect consumers from higher tariffs.
The Buenos Aires G20 summit in December 2018 launched a five-month trade truce between the United States and China to allow for negotiations to end their deepening trade war. But those talks hit an impasse last month, prompting both sides to impose higher tariffs on each other's goods as the conflict nears the end of its first year.
The widening fallout from the U.S.-China trade war has tested the resolve of the group to show a united front as investors worry if policymakers can avert a global recession.
The bickering over trade language has dashed hopes of Japan, which chairs this year's G20 meetings, to keep trade issues low on the list of agendas at the finance leaders' meeting.
Mnuchin said U.S. President Donald Trump and Chinese President Xi Jinping would meet at a June 28-29 G20 summit in Osaka.
Mnuchin described the planned meeting as having parallels to the two presidents' Dec. 1 meeting in Buenos Aires, when Trump was poised to hike tariffs on $200 billion worth of Chinese goods.
Trump took that step in May and will be ready to impose similar 25% tariffs on a remaining $300 billion list of Chinese goods around the time of the Osaka summit.
At the Buenos Aires meeting, the G20 leaders described international trade and investment as "important engines of growth, productivity, innovation, job creation and development. We recognize the contribution that the multilateral trading system has made to that end."
The leaders in that communique called for reform of the World Trade Organization rules that were falling short of objectives with "room for improvement," pledging to review progress at the Japan summit.
(Reporting by Francesco Canepa, Jan Strupczewski, Christian Kraemer, Leika Kihara and David Lawder; Writing by David Lawder and Leika Kihara; Editing by Chris Gallagher, Christopher Cushing & Kim Coghill)