Boeing has estimated costs of the Max grounding at more than $9 billion to date and is expected to disclose significant additional costs during its fourth-quarter earnings release on Jan. 29. Boeing faces rising costs from halting production of the Max this month, compensating airlines for lost flights and assisting its supply chain. Last week, the board and its interim CEO reversed course and recommended regulators require simulator training for pilots before they resume flying the Max. In one

WASHINGTON — President Donald Trump authorized the killing of Iranian Maj. Gen. Qassem Soleimani seven months ago if Iran’s increased aggression resulted in the death of an American, according to five current and former senior administration officials. The idea of killing Soleimani came up in discussions in 2017 that Trump’s national security adviser at the time, retired Army Lt. Gen. H.R. McMaster, was having with other administration officials about the president’s broader national security st

Motorists negotiate a muddied road after Taal volcano began spewing ash over Tanauan town, Batangas province south of Manila on January 13, 2020. Philippine financial markets were shut on Monday to ensure the safety of employees and traders after a volcano near Manila spewed huge volumes of ash that drifted across the nation’s capital. Regular fixed-income trading and settlement operations were expected to resume on Tuesday, the operator of the country’s fixed-income trading platform, PDS Group,

Artyom Ivanov | TASS | Getty ImagesThe United States, China and the European Union account for one half of the world economy. The U.S., however, is in no position to do that, but that is the price it has to pay for its failure to organize an appropriate burden sharing of running the world economy with its main trade partners. China, for its part, could also help to support the world economy because it is reducing its reliance on exports and generating most of its economic growth from household c

Stocks in Asia mostly rose by the close on Monday as investors await the signing of a phase-one trade deal between the U.S. and China. The Shanghai composite rose 0.75% to close at 3,115.57, while the Shenzhen composite jumped 1.36% to 1,822.35. In South Korea, the Kospi rose 1.04% to close at 2,229.26, with cosmetics stocks notching significant gains. Australia’s S&P/ASX 200 bucked the trend, declining 0.37% to close at 6,903.70, with oil stocks seeing losses. Taiwan’s benchmark Taiex index ros

European stocks opened mixed on Monday as the U.S. and China prepare to sign a so-called “phase one” trade deal on Wednesday, while protests continue in Iran over the downing of a Ukrainian commercial airliner. The pan-European Stoxx 600 hovered around the flatline in early deals, with tech stocks adding 0.3% while basic resources fell by 0.4%. Mnuchin also confirmed that the details will be published this week. Asian stocks mostly advanced on Monday as investors look ahead to the inking of the

India needs to implement significant reforms to revive its flagging economic growth and put more young job seekers to work, according to a former central bank governor. Growth in India’s economic output slowed to 4.5% in the three months that ended in September, which marked the slowest pace of expansion in six years. There’s emerging evidence that the economy might be picking up slowly, but growth level around 5% is insufficient for India, Raghuram Rajan told CNBC’s “Street Signs” on Monday. “I

There have been signs that some risks in the global economy are receding, allowing businesses to once again plan for the long term, said Bill Winters, chief executive of British bank Standard Chartered. The U.S.-China trade war dominated investors’ attention for much of the past two years and caused companies to hold back capital expenditure at a time when the global economy was already slowing down. That resulted in the International Monetary Fund slashing its global growth forecast multiple ti

The leaders of Germany, France and the U.K. have said they will stand by the Iran nuclear deal, defying a call from President Donald Trump to abandon the 2015 pact. But they warned Iran that it must comply with the commitments within the Joint Comprehensive Plan of Action (JCPOA), chiefly, the non-proliferation of nuclear weapons. Iran announced last summer that it had breached the deal by exceeding its stockpile limit of low-enriched uranium. “The time has come for the U.K., Germany, France, Ru

The United States is said to have reached out to North Korea to restart diplomatic talks that stalled last October, news website Axios reported. Both countries have made little progress in their talks to dismantle North Korea’s nuclear and missile program. His threat came after he said the U.S. did not respond to North Korea’s repeated calls for concessions to reopen negotiations before the end of 2019. In November, North Korea fired two short-range projectiles into the sea off its east coast. R

U.S. stock index futures were higher Monday morning as investors focus on China-U.S. trade developments. ET, Dow futures rose 94 points, indicating a positive open of more than 84 points. Futures on the S&P and Nasdaq were also higher. Investors are monitoring U.S.-China trade as a Chinese delegation is due to travel to Washington, D.C., Monday for the signing of the phase one trade deal on Wednesday. The deal is expected to lower some of the tariffs, as well as increasing Chinese purchases of U

The less than one-year old start-up has already raised around 5 million yuan ($723,181). The company’s main product is plant-based mince meat made mainly from pea protein in both pork and beef flavors. China is a huge market opportunity for plant-based meat alternatives. Lu believes Zhenmeat will be competitive because its meat alternatives will cater to Chinese tastes. So Chinese chefs and Chinese customers can make a lot of Chinese dishes out of this meat mince like dumplings,” Lu said.

A Chinese and U.S. flag at a booth during the first China International Import Expo in Shanghai, taken on November 6, 2018. Johannes Eisele | AFP | Getty ImagesBeijing has been forthcoming about its long-term goals and is the “most serious threat” to the U.S., according to a former U.S. national security advisor. “China has been very clear about what its long-term goals are strategically,” James Jones, who served as NSA under former President Barack Obama, told CNBC’s Hadley Gamble. “They’re mak

The admission came after days of vehement denial from the Islamic Republic, which angered Iranians and triggered a public backlash. Videos on social media showed mass protests and people chanting: “Death to the dictator,” referring to Iran’s Supreme Leader Ali Khamenei. “National Security Adviser suggested today that sanctions & protests have Iran ‘choked off’, will force them to negotiate,” Trump said on Twitter Sunday, in both English and Farsi. President Donald Trump tweeted on Sunday that he

Protesters hold up a damaged U.S. flag and anti-USA banners during a demonstration following the U.S. airstrike in Iraq which killed a top Iranian commander, in Tehran, Iran, on Friday, Jan. 3, 2020. The U.S.-China trade fight dominated investors’ attention for much of 2019 — but that will likely be get overshadowed by tensions between the U.S. and Iran this year, a political risk consultant predicted on Monday. Newton didn’t say how Iran could retaliate, but other experts have said that future

Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said Monday that President Donald Trump should be able to do as he chooses when it comes to international security. Speaking during a panel session at the International Petroleum Technology Conference (IPTC) in Dhahran, Saudi Arabia, Abdulaziz said: “The president of the United States is the president of the United States, he can do whatever he wishes.” Abdulaziz’s comments come as energy market participants continue to closely monitor h

Treasury Secretary Steven Mnuchin said Sunday that Boeing’s 737 Max crisis could curb U.S. economic growth in 2020 by half a point, though he expects the economy should grow by about 2.5%. “Boeing is one of the largest exporters, and with the 737 Max, I think that could impact GDP as much as 50 basis points this year.” Boeing this month is planning to halt production of the 737 Max, as the worldwide grounding of the planes after two fatal crashes killed 346 people. Mnuchin said he expects the U.

If you feel the urge to take profits as stocks hit new highs, PNC Financial’s Amanda Agati has a message for you: Resist it. We still think there’s room for this market to move higher.” But we actually think 2020 is going to shape up to be a pretty solid year.” Agati estimates stocks could be up 10% by year-end. “Even though it may not be a 30% from a return perspective, we still think we can get a pretty solid result,” Agati said.

Tsai Ing-Wen (C) waves as she addresses supporters following her re-election as President of Taiwan on January 11, 2020 in Taipei, Taiwan. China will not change its position that Taiwan belongs to it, Beijing said on Sunday, after President Tsai Ing-wen won reelection and said she would not submit to China’s threats, as state media warned she was courting disaster. While China says Taiwan is its territory, Taiwan maintains it is an independent country called the Republic of China, its formal nam

This photo provided by Bossier Parish Sheriff’s Office shows damage from Friday nights severe weather, including the home of an elderly in Bossier Parish, La., on Saturday, Jan. 11, 2020. In Louisiana, the Bossier Parish Sheriff’s Office said on Facebook that firefighters found the bodies of an elderly couple near their demolished trailer home. First responders were searching through mud and debris for other victims, the sheriff’s office said on Facebook. “The storm moved their home from its fou