A photovoltaic module company in Hefei, Anhui province, on Feb. 20, 2024. Future Publishing | Future Publishing | Getty Images BEIJING — Trade tensions between Europe and Beijing will likely escalate due to China’s growing ability to manufacture more cheaply in strategic industries, according to Jens Eskelund, president of the European Union Chamber of Commerce … Read more
U.S. Federal Reserve Board Chairman Jerome Powell speaks during a news conference following a meeting of the Federal Open Market Committee (FOMC) at the headquarters of the Federal Reserve on June 14, 2023 in Washington, DC. Drew Angerer | Getty Images News | Getty Images This report is from today’s CNBC Daily Open, our international … Read more
Filmmaker and Hollywood legend George Lucas is throwing his support behind Walt Disney CEO Bob Iger in the bitter proxy battle between the company and activist investor Nelson Peltz. Lucas, who received 37.1 million Disney shares as part of Disney’s $4.05 billion purchase of Lucasfilm in 2012, is currently the largest individual investor in the … Read more
Federal Reserve Bank Chairman Jerome Powell testifies before the House Financial Services Committee in the Rayburn House Office Building on Capitol Hill on March 06, 2024 in Washington, DC. Chip Somodevilla | Getty Images The Federal Reserve has a lot to do at its meeting this week, but ultimately may not end up doing a … Read more
March and April are critical months for ocean carriers looking to ink annual freight contracts with shippers, including the world’s biggest retailers, but this year contract season is turning into a waiting game. The $2,500 spread between spot market rates and long-term freight contract rates for Asia to U.S. West Coast containers has reached its … Read more
Bitcoin extended its slide on Tuesday, dropping more than $10,000 from its all-time high last week. The flagship cryptocurrency was last lower by 4% at $64,061.09, according to Coin Metrics. Earlier it fell to as low as $62,320.30, after reaching a record of $73,679 last week. “As ETFs buy up available supply of bitcoins on … Read more
Neon advertisements in Osaka’s Dotonbori district in Japan Alexander Spatari | Moment | Getty Images Japan’s central bank on Tuesday finally ended its experiment with negative rates and unconventional easing tools which were aimed at reflating the world’s fourth-largest economy. The Bank of Japan’s decision came just days after Rengo, Japan’s largest federation of trade … Read more
A wind change increased flames during a planned ignition on the Ross Moore Lake wildfire in Kamloops, British Columbia, Canada, on Friday, July 28, 2023. Bloomberg | Bloomberg | Getty Images Last year — the hottest on record — smashed a series of climate records and gave new meaning to the phrase “off the charts,” … Read more
A Ferrari is parked outside the New York Stock Exchange in celebration of Ferrari Automotive Company’s IPO on October 21, 2015 in New York City. Andrew Burton | Getty Images Ferrari CEO Benedetto Vigna promised on Tuesday that the luxury carmaker’s new electric vehicle will offer drivers the same roar as its historic combustion engines. … Read more
An editorial montage of the Japan flag and Japanese yen cash bank notes Javier Ghersi | Moment | Getty Images Japan’s central bank raised interest rates on Tuesday for the first time since 2007, ending the world’s only negative rates regime and other unconventional policy easing measures enacted over the course of the last few … Read more