Hiram Johnson, a U.S. senator speaking in 1916 against America’s entry into World War I, supposedly said, “The first casualty when war comes is truth.” Among its early casualties, the unfolding trade war has claimed objectivity. Trade-war hysteria has fueled warnings that China could weaponize its massive holdings of U.S. Treasuries by dumping them on
Finance
Traders work in the ten-year U.S. Treasury Note options pit at the Chicago Board of Trade in Chicago, Illinois, U.S. Daniel Acker | Bloomberg | Getty Images Investors are worried the inversion of 10-year Treasury note and 3-month bill yield curve means a recession is coming but this time could be different, according to Fundstrat’s
A general view of the atmosphere at the TommyXZendaya collection launch event at the Tommy Hilfiger store on March 3, 2019 in London, England. (Photo by David M. Benett/Dave Benett/Getty Images for Tommy Hilfiger) David M. Benett | Getty Images Entertainment | Getty Images Check out the companies making headlines after the bell: Shares of
Canada Goose brand parkas in a store in New York. Noam Galai | WireImage | Getty Images Check out the companies making headlines midday Wednesday: Canada Goose — Canada Goose shares plummeted more than 26% after the company issued disappointing full-year revenue guidance. The company said it expects revenue to grow at least 20% in the
European shares are set to begin Wednesday’s session in the red amid worries over the U.S.–China trade war and a potential budget standoff between Italy and the EU. European Markets: FTSE, GDAXI, FCHI, IBEX Britain’s FTSE 100 is seen sliding 42 points to 7,229, Germany’s DAX off by 90 points at 11,933, and France’s CAC
Factories in China’s Shandong province. Zhang Peng | LightRocket | Getty Images Judging by the latest reports from Chinese companies, the world’s second-largest economy still has a challenging stretch ahead. Take earnings reports in the last few weeks from the country’s technology giants: Then on Monday, China’s National Bureau of Statistics said industrial profits fell
Rare-earth mine in Bayan Obo, China. This mine is one the largest deposits of rare earth metals found in the world. Speculation that China could use its dominance in rare earth minerals as a weapon in the trade war intensified after a Chinese official warned that products made from the materials should not be used
Stripe co-founder and CEO Patrick Collison delivers his keynote conference during day three of the Mobile World Congress in Barcelona on February 24, 2016. Manuel Blondeau | AOP.Press | Corbis | Getty Images Technology firms from Silicon Valley’s Stripe to U.K.-based GoCardless are all trying to grab a slice of the same $1.9 trillion industry.
Alicia Levine believes Wall Street is making a big mistake. The chief strategist at BNY Mellon contends it’s still not accurately pricing in the growing possibility that U.S.-China trade talks will ultimately fail. “The market got the wake-up call on May 5, and it hit the snooze button — expecting this to go away with
Chinese President Xi Jinping stands by national flags. Johannes Eisele | AFP | Getty Images As trade talks between the U.S. and China increasingly center on Chinese treatment of foreign companies, Beijing says major American complaints about structural aspects of its economy are running up against “core interests.” The implication: Those matters are not up
FILE PHOTO: The logo of FIAT carmaker is seen on a vehicle in Cairo, Egypt, May 19, 2019. Picture taken May 19, 2019. REUTERS/Mohamed Abd El Ghany/File Photo Mohamed Abd El Ghany | Reuters Fiat Chrysler and Renault are in advanced talks to merge the two automakers. Sources say the talks, which have been happening
Jeffrey Sloan, CEO, Global Payments Scott Mlyn | CNBC Payment technology company Global Payments is nearing an agreement to acquire peer Total System Services for about $20 billion, in an all-stock deal that is expected to be announced Tuesday, people familiar with the matter tell CNBC. The people requested anonymity because the talks are confidential.
Talk about mystery meat. As plant-based protein makers like Impossible Foods and the newly public Beyond Meat take the food industry by storm, the question of whether their products are better for consumers than actual meat is still very much open, says former U.S. Agriculture Secretary Dan Glickman. “We can’t really market it … as
An employee arranges a sneaker display at a Foot Locker Inc. store inside the South Park Mall in Strongsville, Ohio. Luke Sharrett | Bloomberg | Getty Images Check out the companies making headlines midday Friday: Foot Locker — Shares of Foot Locker were down 17% in midday trading after the shoe retailer reported adjusted quarterly
Stan Lee in his office in Beverly Hills, California. Getty images | Washington Post The former manager of Stan Lee has been arrested on charges of financial elder abuse and false imprisonment against the late comic book legend, according to the Los Angeles Police Department. Keya Morgan allegedly mishandled Lee’s money. This included $262,000 that
A trader takes an order in the Standard & Poor’s 500 stock index options pit at the Chicago Board Options Exchange following the Federal Open Market Committee meeting on January 25, 2012 in Chicago, Illinois. Scott Olson | Getty Images News | Getty Images Buybacks have gotten a bad rap from both Republican and Democratic
Michael Novogratz, CEO of Galaxy Investment Partners Adam Jeffery | CNBC Macro trader turned bitcoin bull Michael Novogratz is calling for fixes to capitalism — and a possible tax on Wall Street. The former Fortress hedge-fund manager pointed to a rising income gap and lack of investment in public education in the United States. One
Traders work on the floor at the New York Stock Exchange May 7, 2019. Brendan McDermid | Reuters Trade headlines could be a big factor for markets in the week ahead, but investors will also be attuned to fresh inflation data and moves in the bond market, which is flashing new worries about the economy.
Facebook CEO Mark Zuckerberg has held talks with his old rivals the Winklevoss twins as the social media giant plans to launch its own cryptocurrency, the Financial Times reported Thursday. Facebook has held talks with the cryptocurrency exchanges Gemini, which was founded by the Winklevoss twins, and Coinbase, the report said, citing sources. The company
Investors rushed into the safety of bonds Thursday and dumped stocks, as it appeared the trade war could be prolonged and more painful for the world economy than expected. The moves in the bond market were dramatic, with the 10-year Treasury yield dropping about 8 basis points in its biggest one-day move since April 1.