Chinese officials are expected to be in Washington this week to hold consultations with the U.S. ahead of high-level trade talks in October.World Economyread more
President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
The meeting comes amid months of stalled trade talks between Washington and New Delhi, resulting in both sides taking retaliatory measures.Asia Politicsread more
(Updates with details)
FRANKFURT, Sept 4 (Reuters) - Deutsche Bank's Chief Executive Officer Christian Sewing warned on Wednesday that a further reduction in interest rates by the European Central Bank would have a minimal effect on the economy but risks serious side effects.
The warning comes a week before an ECB policy meeting at which decision markers are leaning towards a stimulus package that includes a rate cut.
Sewing, speaking at a banking conference, said his bank's customers say they would not invest more if credit were 0.10 percentage points cheaper.
A rate cut would "only drive up asset prices and further burden savers," he said.
Lower rates would help those who are indebted or invested in assets, but the majority of the population wouldn't benefit, he said.
"That divides society further," he said.
Banks in Germany and throughout Europe have long complained about the ECB's policy which requires banks to pay to park their cash at the central bank and hurts their bottom lines. (Reporting by Tom Sims, Patricia Uhlig and Hans Seidenstuecker Editing by Michelle Martin and Elaine Hardcastle)