China suddenly added a new member to its negotiating team — the country’s commerce minister, Zhong Shan, who is seen as a hard-liner by many officials in Washington. “The U.S. side has provoked economic and trade frictions against us and violated the principles of the WTO. It is typical of unilateralism and protectionism. … We […] Read more
China could learn a lesson for its possible digital currency issuance from the Hong Kong monetary system that allows “commercial entities” to issue banknotes backed by their own private currency assets, former central bank governor Zhou Xiaochuan said. Zhou, who served as the governor of the People’s Bank of China (PBOC) for over 15 years […] Read more
President Donald Trump wouldn’t need to hear much from Chinese officials to at least strike a truce in the trade war between the two sides, a senior administration official told CNBC. Trump and Chinese President Xi Jinping are set to meet Saturday at the G-20 meeting in Osaka, Japan, with expectations running high that the […] Read more
Ford Motor Co. is investing $900 million to set up both a battery-car plant — its second — and an autonomous vehicle center in Southeast Michigan, not far from its headquarters in the suburb of Dearborn. It’s part of the Detroit automaker’s push to lead in autonomous vehicles while also trying to catch up to […] Read more
Younger Millennials Become a Home Buying Force The National Association of Realtors is reporting this week that one in six Gen Xers purchased a multi-generational home, overtaking younger boomers as the generation most likely to do so; with 52 percent of those Gen X buyers indicating that they did so because their adult children have […] Read more
Despite rising concerns about growth this year, the CNBC All-America Economic Survey finds confidence in the economy holding up, dropping from the optimistic heights of last year but maintaining relatively strong levels. The survey of 800 people across the country, with a margin of error of plus or minus 3.5 percentage points, shows half believe […] Read more
Swing traders were aggressively buying banking shares in the UAE for a second day on Monday as the government decided to consolidate debts that its citizens owed to the government. Traded value on the Dubai Financial Market (DFM) jumped to Dh355 million due to buying in banks from a paltry Dh80 million in the previous […] Read more
At 95, Charlie Munger is best known for his steady role as the right-hand man of investing legend Warren Buffett. As the vice chairman of Berkshire Hathaway, Munger is worth $1.7 billion, according to Forbes. In addition to the his role alongside Buffett, Munger is chairman of the publisher the Daily Journal Corp. and is […] Read more
Despite growing concern about the slowing growth of the Chinese economy, Starbucks is holding onto optimism about its second-largest market. “We continue to play the long game in China,” CEO Kevin Johnson told analysts on the company’s quarterly conference call. Earlier this month, Goldman Sachs predicted that Starbucks would be the next company to warn […] Read more
Jamie Dimon (born March 13, 1956) is an American business executive. He is chairman and CEO of JPMorgan Chase, the largest of the big four American banks, and previously served on the board of directors of the Federal Reserve Bank of New York. Dimon was included in Time magazine’s 2006, 2008, 2009, and 2011 lists of the world’s 100 most influential people. He was […] Read more
