The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Megvii is known for its facial recognition technology and while revenue grew over 350% in 2018, its losses have widened.Technologyread more
Stocks in Asia fell Monday afternoon following an escalation in the U.S.-China trade war late last week.Asia Marketsread more
Hedge fund manager Stanley Druckenmiller said he bought General Electric shares on Thursday during the stock's double-digit plunge brought about by a report from Madoff whistleblower Harry Markopolos accusing the conglomerate of an Enron-like fraud.
"I believe Culp ... I bought stock today," Druckenmiller told CNBC's Kelly Evans in a statement. The hedge fund manager already held 6.2 million shares of GE, according to filings.
GE shares cut losses slightly on the news of the Druckenmiller position, but were still down 11% and headed for the worst decline in 11 years.
CEO Lawrence Culp vehemently denied the Markopolos accusations Thursday afternoon, calling the report "market manipulation — pure and simple" in a statement.
Markopolos, who raised red flags about the Ponzi scheme of Bernie Madoff years before it fell apart, targeted GE in an investigation for which he is being paid by an unnamed hedge fund. The financial investigator says he gave the report to this hedge fund, along with regulators, before its public dissemination on Thursday and that the hedge fund has made bets against GE's stock.
He writes that after more than a year of research he has discovered "an Enronesque business approach that has left GE on the verge of insolvency." His investigation centers around accounting irregularities in GE's long-term care insurance business and oil and gas business.
Druckenmiller, who once bet against GE shares, is CEO of the Duquesne Family Office. His former hedge fund had a long-term track record of beating the market. GE was the 17th largest holding of the family office at the end of the second quarter, according to InsiderScore.com. Microsoft and Amazon were its biggest holdings.