When North Korea decided to go nuclear, it committed to a huge investment in a program that would bring severe sanctions and eat up precious resources that could have been spent boosting the nation’s quality of life. Money well spent? Leader Kim Jong Un seems to think so. North Korea’s nuclear and missile development programs […]
Read moreCurrency, United States Finance
UK will be at the back of the queue for a trade deal, warns top EU commissioner
Brexit talks are a “very difficult process” but they need to move fast to give enough time for officials to negotiate a trade deal, the vice president of the European Commission has told CNBC. In an exclusive interview, Jyrki Katainen noted that the EU is having trade talks with 21 different jurisdictions and the U.K. […]
Read moreAustralia’s labor market strengthened for a fourth month in June led by a remarkable comeback in full-time jobs — an upbeat outcome that could bring nearer the day when the country’s central bank starts considering a rate hike. The data will offer much-needed relief to the Reserve Bank of Australia (RBA) which has been fretting […]
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Trump's former campaign chief Manafort reportedly owed millions to pro-Russia interests
Former Trump campaign chairman Paul Manafort owed as much as $17 million to pro-Russian interests before he joined the president’s election campaign, the New York Times reported on Wednesday. The funds were owed by shell companies linked to Manafort’s business ventures in Ukraine, where he worked for the Party of Regions, a Ukrainian political faction, […]
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Showdown brewing: With lessons learned in China, a rival is taking on Facebook, Snapchat and YouTube
Chinese live-streaming company YY has been profiting on a revenue model that Silicon Valley once lambasted, but now its global spin-off is aiming to take on U.S. rivals live Facebook, Snapchat, YouTube and Amazon’s Twitch. YY, founded in 2005, is a major Chinese-language social media platform that boasts more than 122 million monthly active users. […]
Read moreLittle action was expected at Wednesday’s U.S.-China Comprehensive Economic Dialogue, but despite the low bar, the event still yielded lackluster results — an indication of further bilateral strains ahead. “It was a little bit of a disappointment,” said Nicholas Consonery, senior director at business advisory firm FTI Consulting. Small deliverables, potentially a new opening in […]
Read moreThe Bank of Japan was expected to lower its inflation forecast in a continued battle with stubbornly weak price growth even as the wider economy is now on firmer footing, economists said ahead of the release of the central bank’s monetary policy statement. The BOJ, which ends its two-day meeting on Thursday, was also expected […]
Read moreFacebook’s head of news partnerships, Campbell Brown, said at a industry conference in New York that the social networking giant will launch a subscription-based news product later this year, according to a report from The Street. The Street said the feature is set to be built on top of Facebook’s “Instant Articles,” which aggregate stories […]
Read moreIntel has axed the division that worked on health wearables, including fitness trackers, according to a person familiar with the matter. The company has been slowly de-emphasizing its own line of wearables for the past several years, and has not mentioned wearables on its earnings calls since 2014. In November, TechCrunch reported that the company […]
Read moreSenior U.S. and Chinese officials on Wednesday U.S.-time failed to agree on major steps needed from Beijing to help reduce the U.S. trade deficit with China during an annual economic dialogue meeting, a Trump administration official said. The official, who was not authorized to speak publicly on the talks and requested anonymity, said that the […]
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