Aerospace titans Boeing and Airbus top $110 billion in orders at Farnborough

Boeing and Airbus have continued their battle to win the most business at the Farnborough International Airshow racking up commercial plane orders worth more than $110 billion. It should be noted that all the prices quoted are the planemakers official list prices with steep discounts likely to be negotiated by buyers. Additionally the gross dollar number includes loose commitments to future deals and updates to previously agreed contracts. The U.S. planemaker Boeing has the initiative inking deals over three days at the show [read more]

Wreck of Russian warship found, believed to hold gold worth $130 billion

A South Korean salvage team has reportedly discovered the wreck of a Russian warship that is believed to still contain 200 tons of gold bullion and coins worth 150 trillion won ($130 billion).The Russian Imperial Navy cruiser Dmitrii Donskoi which was sunk in a naval battle 113 years ago was discovered at a depth of more than 1400 feet about one mile off the South Korean island of Ulleungdo according to The Daily Telegraph.The U.K. newspaper reported that a joint team made up [read more]

Ethereum may drive blockchain to be as broadly adopted as the Internet, fintech CEO says

Blockchain and cryptocurrency may one day be as broadly adopted as the internet is today Jeremy Allaire CEO and cofounder of fintech company Circle told CNBC. Its a really fertile space in terms of the fundamental technical and infrastructure Allaire said on Fast Money Wednesday. One major driver for this possible occurrence ethereum. Right now ethereum has an enormous amount of developer activity Allaire said. One of the things that really catalyzed the cryptocurrency market last year [read more]

Fed Chair Jerome Powell Day 2, Testimony To House Financial Committee

Jerome PowellFaces Second Day of Questioning by House CommitteeFederal Reserve Chairman JeromePowell appeared before the House Committee on Financial Services WednesdayJuly 18 to face questioning from lawmakers on the Feds plans going forward.Powell also faced questioning Tuesday.Powell DecriesMinority Employment GapWhile Powell lauded thehistorically low unemployment rate in the U.S. he also noted that AfricanAmericans and Hispanics are still unemployed at a higher rate than whites.Groups with higherunemployment rates have tended to benefit the most as the job market hasstrengthened. But jobless rates for these groups are still higher than [read more]

Trump's approval ratings may hold clues to where US trade disputes are heading

From the tariffs on steel and aluminum imports in March to Julys list of $200 billion in Chinese goods that may be targeted by new American levies the U.S. administrations trade policies have repeatedly caught markets off guard. The U.S.China trade war continues to simmer and the White House is trading tariff threats with other nations so analysts are now looking beyond government pronouncements for alternative indicators that may clue them into where exactly Americas ongoing disputes are headed. [read more]

Mastercard has a new patent that could allow bitcoin transactions on credit cards

Consumers might one day be able to charge their purchases on their credit cards using bitcoin as a currency. On Tuesday Mastercard won a patent to protect a method that would manage fractional reserves of blockchain currency. At present Mastercard holders can only pay for things using currency that the government has declared as legal tender Seth Eisen Mastercards senior vice president for communications said. In the document published with the U.S. Patent and Trademark Office Mastercard said that there has [read more]

Fed Chair Jerome Powell

Federal Reserve chair Jerome Powell is not explicitly concerned about the flattening Treasury yield curve.Speaking before members of the Senate Banking Committee on Tuesday Powell was asked by Senator Pat Toomey (RPa.) about the declining spread between shortterm and longterm Treasury rates. Toomey explicitly referenced the narrowing of the spread between twoyear and tenyear Treasury notes which was sitting at 25 basis as of Tuesday morning the slimmest margin in ten years.The yield curve has become a top of mind issue for investors in recent months because an inversion of [read more]

UK PM May says Donald Trump told her to sue the EU over Brexit

Donald Trump has advised British Prime Minister Theresa May to sue the European Union to resolve the tense negotiations over Britains impending exit from the bloc. The American president told reporters Friday at a joint press conference with May that he had given the British leader a suggestion that she found too brutal. [read more]

China looks to get cozy with the EU in annual talks as Trump tariffs bite

The European Union will open an annual meeting with China on Monday and will be looking to fend off overtures for an antiU.S. alliance as China seeks a European counterbalance to U.S. tariffs. Premier Li Keqiang will host European Council President Donald Tusk and European Commission President JeanClaude Juncker in Beijing where the two sides could reinvigorate longrunning investment treaty talks with the expected exchange of markets access offers for the first time. The meeting is expected to produce a modest communique [read more]

China says its second-quarter GDP growth was 6.7%, meeting expectations

China on Monday posted secondquarter GDP growth of 6.7 percent from a year ago slightly lower than 6.8 percent in the first quarter of 2018 as Beijing has been cracking down on risky credit amid escalating trade tensions with the U.S. The official reading was in line with expectations from analysts polled by Reuters. The headline figure was no surprise as [read more]