An artwork juxtaposing Chinese yuan cash bills with the China’s flag Javier Ghersi | Moment | Getty Images China’s financial institutions should provide strong support to the country’s beleaguered real estate sector and not “blindly withdraw” financing for projects facing difficulties, according to a senior Chinese financial regulatory official. His strongly worded comments follow the … Read more
U.S. President Joe Biden speaks with workers while visiting CS Wind, the largest wind tower manufacturer in the world, in Pueblo, Colorado, U.S., November 29, 2023. Andrew Caballero-Reynolds | AFP | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything … Read more
WASHINGTON — Treasury Secretary Janet Yellen praised the positive economic growth numbers on Thursday as a benefit for the middle class. “Though some forecasters thought a recession last year was inevitable, President [Joe] Biden and I did not,” Yellen said in a visit to the Economic Club of Chicago. “Instead of contracting, the economy has … Read more
ZHENGZHOU, CHINA – SEPTEMBER 22: Students attend a job fair for graduates at Zhengzhou University on September 22, 2023 in Zhengzhou, Henan Province of China. (Photo by VCG/VCG via Getty Images) Vcg | Visual China Group | Getty Images China’s youth unemployment will likely stay elevated this year due to a lingering mismatch, according to … Read more
A customer visits a supermarket in San Mateo, California, on Dec. 12, 2023. Li Jianguo | Xinhua News Agency | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what … Read more
Consumers shop in Rosemead, California, on Dec. 12, 2023. Frederic J. Brown | Afp | Getty Images Economic growth likely slowed to its weakest pace in a year and a half to end 2023, possibly setting the stage for a more pronounced slowdown ahead, according to Wall Street economists. The consensus outlook for the fourth … Read more
The U.S. Navy is encountering a tenacious threat in the Red Sea. The Iran-backed Houthi rebels have launched wave after wave of low-cost precision weapons at vessels transiting the area, including attacks on U.S. warships themselves. “That’s one of the things [that] the Red Sea sort of demonstrates … we never know where the maritime … Read more
Pan Gongsheng was named party secretary of the People’s Bank of China on July 1, 2023. Vcg | Visual China Group | Getty Images BEIJING — China pledged to reduce the amount of liquidity that its banks are required to hold as reserves early next month in its bid to boost its struggling economy. Reserve … Read more
Traders work on the floor of the New York Stock Exchange (NYSE) on October 30, 2023 in New York City. Spencer Platt | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they … Read more
A BYD Seagull small electric car is on display during the 20th Shanghai International Automobile Industry Exhibition at the National Exhibition and Convention Center (Shanghai) Vcg | Visual China Group | Getty Images DETROIT – Chinese automakers pose a growing threat to their American counterparts — even without selling directly to consumers in the U.S. … Read more
