Trump says Fed is his 'biggest threat' because it is raising rates too fast

President Donald Trump on Tuesday escalated his assault on the Federal Reserve calling it my biggest threat. Because the Fed is raising rates too fast. And its independent so I dont speak to him Trump said in an interview with Fox Business referring to Fed Chairman Jerome Powell. But Im [read more]

US budget deficit expands to $779 billion in fiscal 2018 as spending surges

The U.S. federal budget deficit rose in fiscal 2018 to the highest level in six years as spending climbed the Trump administration said Monday. The deficit jumped to $779 billion $113 billion or 17 percent higher than the previous fiscal period according to a statement from Treasury Secretary Steven Mnuchin and Office of Management and Budget Director Mick Mulvaney. It was larger than any year since 2012 when it topped $1 trillion. The budget shortfall rose to 3.9 percent of U.S. [read more]

Paul Allen, co-founder of Microsoft, is dead at 65

New York (CNN Business)Paul Allen the billionaire cofounder of Microsoft died Monday. He was an investor entrepreneur and philanthropist who influenced many aspects of modern life from technology and science to sports and music.Allen was 65 his investment firm Vulcan [read more]

Amid trade tensions and stock turmoil, China cracks open its bond market further to foreigners

In a step toward wooing more overseas investors Chinas main publisher of bond market data and Londonbased IHS Markit announced Friday new indexes that claim to offer more transparency into the worlds thirdlargest fixed income market. ChinaBond a subsidiary of stateowned China Central Depository and Clearing is the main source of pricing data on mainland Chinese bonds. IHS Markit is behind the widely followed iShares iBoxx High [read more]

Oil Price Open Monday Gap Up On Saudi Tension

Crude oil futures rose sharply on Monday as geopolitical tensions over the disappearance of a prominent Saudi journalist stoked worries about supply although concerns about the longterm outlook for demand dragged on prices.Crude markets were also supported in the wake of data that showed South Korea did not import any oil from Iran in September for the first time in six years before U.S. sanctions against the Middle East country take effect in November.Brent crude had risen 98 cents or 1.22 percent to [read more]

Alibaba's Jack Ma to open institute for tech entrepreneurs in Indonesia

NUSA DUA Indonesia Jack Ma executive chairman of Chinas Alibaba Group Holding said on Saturday (Oct [read more]

Trade war could cut China's growth by nearly 2 percentage points over two years: IMF

At its worst the ongoing trade tensions could knock 1.6 percentage points off Chinas economic growth over the first two years according to an analysis by the International Monetary Fund. The assessment took into account all current and proposed tariffs on Chinese goods that enter the U.S. as well as knockon effects the trade tensions have on investor confidence and financial markets. But much of that impact is expected to be offset by the Chinese governments policies to stimulate the economy noted Changyong Rhee director of the [read more]

Dow futures imply a more than 400-point surge at Friday's open as stocks try to rebound from rout

U.S. stock futures traded higher on Thursday night pointing to a rebound for Wall Street after backtoback selloffs. As of 324 a.m. ET Dow Jones Industrial Average futures rose 297 points indicating a gain of 424.17 points at Fridays open. S&P 500 and Nasdaq 100 futures also pointed to solid gains to start off Fridays session. The [read more]

China posts record trade surplus with the US in September, Beijing says

China recorded a record trade surplus of $34.13 billion with the U.S. in September amid intense trade tensions between the worlds two largest economies. The September surplus with the U.S. was larger than Chinas overall trade surplus of $31.69 billion for the month. The worlds two largest economies are locked in a bitter trade dispute with U.S. President Donald Trump taking issue with his countrys massive trade deficit against China. [read more]

Investors need to pay closer attention to China

New York (CNN Business)Investors cant afford to ignore China. I think it is a really important factor for small medium and large investors to be paying closer attention to Mark Howard Senior MultiAsset Specialist at BNP Paribas told CNN international correspondent Paula Newton on Wednesday. The trade war between the United States and China is already hurting Chinese stocks. The benchmark Shanghai Composite Index is down 17.6% this year. And the International Monetary Fund cut [read more]