ECONOMIC NEWS

U.S. Commerce Secretary Wilbur Ross reiterated on Monday that President Donald Trump is “perfectly happy” to slap tariffs on the remaining $300 billion of Chinese imports if the world’s two largest economies fail to agree a trade deal.Christian Keller, head of...

Japan, South Korea and Taiwan are “highly exposed” to the Chinese economy, said Steve Cochrane, chief Asia Pacific economist at Moody’s Analytics.In addition to serving consumers in China, the Asian economies also supply products that Chinese factories assemble and...

When Federal Reserve officials meet next week, they are expected to clear the way for a July interest rate cut by downgrading their economic forecast, tweaking the language in their statement and reducing their interest rate forecasts.The Fed is expected to remove the...

Stocks fell on Friday after a sharp decline in Broadcom shares put other chipmakers and the broader tech sector under pressure. The Dow Jones Industrial Average slid 17.16 points, or 0.1%, to 26,089.61. The S&P 500 declined by 0.2% to 2,886.98 as the tech sector...

The nation’s two busiest container ports, the Los Angeles and Long Beach, on Tuesday reported declines in export volumes in May, amid the ongoing trade war with China.The two port complexes together handle about 40% of the nation’s containerized import trade with...

Chinese exports of rare earths fell in May to 3,639.5 metric tons, customs data showed on Monday.The decline came amid China’s threat to stop supplying the U.S. with rare earths after tensions between the two countries escalated last month.Experts are split on whether...

U.S. Treasury Secretary Steven Mnuchin says President Donald Trump will come to a decision about whether to levy additional tariffs on China after meeting with Chinese leader Xi Jinping later this month.“If China wants to move forward with the deal, we’re prepared to...

Concerns are growing over the strength of Germany's economy - the largest in the eurozone - following the release of more gloomy official figures. Industrial production in April fell by 1.9% compared with the previous month and exports were 0.5% lower than a year...

In a presentation in London this week, Pictet Asset Management Chief Strategist Luca Paolini told reporters that for these reasons, U.S. stocks will deliver returns that only marginally exceed inflation over the next five years.He also made the case for emerging...

U.S. consumer prices increased in April, which could allow the Federal Reserve to keep interest rates unchanged for a while.Personal income rose 0.5% in the month after ticking up 0.1% in March.Savings increased to $990.3 billion in April from $963.7 billion in...

Portugal’s Finance Minister Mario Centeno told CNBC that the issuance is a “positive step in managing Portugal’s external debt in the medium term.” Portugal has become the first ever euro zone country to issue bonds denominated in the Chinese yuan. Known as “Panda”...

Sanjeev Sanyal, principal economic advisor at India’s Ministry of Finance, says his country’s is planning for an “exports-oriented economic policy.”India’s slowing consumption-fueled growth has been flagged as a serious concern this year, amid falling sales in...