News

Morgan Stanley CEO says his firm is ready for 'Basel III endgame' — the sweeping new global rules on banking

Eventual 2, 3% inflation in the U.S. is "very acceptable" outcome, given the conditions that the Federal Reserve had to grapple with.

Xi says U.S. and China can only be adversaries or partners, with no middle ground

Chinese President Xi Jinping told U.S. business executives Thursday the two countries have to choose between being adversaries or partners.

U.S. and China agree to resume military talks. Takeaways from the Biden-Xi summit

U.S. President Joe Biden and Chinese President Xi Jinping have agreed to resume high-level military communication, according to both countries.

China President Xi meets Biden for the first time in a year

U.S. President Joe Biden and President Xi Jinping of China are expected to discuss fentanyl flows, use of artificial intelligence and access to high-end tech.

Citigroup begins layoffs as part of CEO Jane Fraser’s corporate overhaul

Under pressure to improve Citigroup's performance, the bank will announce layoffs starting Wednesday, CNBC has learned.

UBS boss Ermotti says 'incredible' bond demand is 'a signal to the Swiss banking system'

UBS Group CEO Sergio Ermotti says the "incredible" market demand for the bank's recent issuance of AT1 bonds is a "signal to the Swiss banking system."

China's unfinished property projects are 20 times the size of Country Garden

The size of unfinished, pre-sold homes in China is about 20 times the size of developer Country Garden as of the end of 2022, Nomura analysts said.

China retail sales, industrial data grow faster than expected in October

China on Wednesday reported better-than-expected retail sales and industrial data for October, while the real estate drag worsened. 

PGA Tour says it will offer players equity ownership after it seals deal with investors

The PGA Tour is in talks with Saudi Arabia's Public Investment Fund to complete a framework aagreement they reached earlier this year.

Here’s the inflation breakdown for October 2023 — in one chart

The consumer price index continued a steady decline in October on the back of lower gasoline prices.

Former St. Louis Fed president says the FOMC still has 'a ways to go' on inflation

Former St. Louis Fed President Jim Bullard says the Federal Reserve still has "a ways to go" in fighting inflation and that there is still a risk that prices pick up once again.

UBS sees a raft of Fed rate cuts next year on the back of a U.S. recession

UBS expects the U.S. Federal Reserve to cut interest rates by 275 basis points in 2024, almost four times the market consensus.
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