Every American firm doing business in China now vulnerable after Huawei arrest: Former US trade advisor

Every U.S. firm that does business in China is vulnerable after the arrest of the Huawei CFO, says former assistant U.S. trade representative Jeff Moon. The Chinese can crack down easily because their laws are vague, he says. If Meng Wanzhou is extradited to the U.S., "things will start getting out of control," he says.

London to lose $900 billion to Frankfurt due to Brexit, German finance group claims

Lobby group Frankfurt Main Finance has claimed the U.K. capital's finance industry is poised to lose up to 800 billion euros by March 2019. Billions of dollars worth of assets would be lost due to financial institutions moving their operations to other European hubs ahead of Brexit, the group said. However, groups representing London's financial sector told CNBC they were yet to see major asset losses.

OPEC Endorses Iran Exemption from Production Cut

VIENNA (Shana) -- Iran managed to secure exemption from an agreement by OPEC members to reduce their oil production to prevent supply glut and bolster the prices.

$Mnuchin hopeful that Trump-Xi talks can be turned into a \'real agreement\'$

Mnuchin hopeful that Trump-Xi talks can be turned into a 'real agreement'

Treasury Secretary Steven Mnuchin tells CNBC the White House is hopeful for a "real agreement" with China over trade. He says the U.S. has received commitments for concessions on several key issues. President Trump will lead the negotiations over the next 90 days that are aimed at lowering barriers in China and halting theft of intellectual property.

Major Wall Street economists have their doubts trade cease-fire will lead to actual deal in 90 days

Some of Wall Street's top economists think it is still unlikely that both the U.S. and China find a permanent compromise despite the cease-fire. "We think the chance of a comprehensive deal that involves rollback of tariffs is slightly higher than before, but still not our base case," Goldman Sachs writes. Xi and Trump agreed over the weekend to hold off on slapping additional tariffs on each other's goods until March 1, as trade deliberations continue.

The next date to watch in the US-China trade war is Dec. 18, expert says

China marks the 40th anniversary of its economic reforms and opening up on Dec. 18 — an occasion Beijing could use to emphasize its commitment to transform its economy, noted Scott Kennedy of the Center for Strategic and International Studies. "If that day or week goes by with no major new announcements, then we know that for sure there's not a possibility that the Chinese want to use this as an opportunity to change the direction of their economy and industrial policies," Kennedy said. What happens in Washington could also influence how hard U.S. President Donald Trump will come down on China, he added.

$Trump\'s description of the China trade deal doesn\'t match the official White House version$

Trump's description of the China trade deal doesn't match the official White House version

President Donald Trump's claims about the U.S.-China agreement to pause tariff escalations weren't corroborated by the White House's official statement on the matter. Trump's bold remarks likely reflect the fact that he's under pressure from American businesses to resolve the trade spat. For the U.S. leader, "it doesn't matter to him what the details are as long as he looks strong to his supporters," said Mintaro Oba, a former U.S. State Department official.

Pound drops to 2017 lows after government contempt vote

The pound briefly dropped to April 2017 lows against the dollar on Tuesday.

Brexit: Food prices could rise 10%, says Mark Carney

Food prices could rise between 5% and 10% if there is a disorderly Brexit, the Bank of England governor, Mark Carney, has warned.

Investment contracts for 3 Iranian strategic ports signed

The port and economic deputy of Ports and Maritime Organization of Iran announced the signing of an investment contract for three logistically strategic Imam Khomeini, Shaheed Rajaei and Chabahar ports.

Balance surplus of 8-month Iranian foreign trade hits $2b

Tehran, Dec 2, IRNA - Islamic Republic of Iran Customs Administration (IRICA) announced a surplus of US $2 billion in foreign trade balance by the end of November and an increase of 13% of non-oil exports in comparison with the same period last year.

Qatar to leave OPEC

Al Jazeera TV channel announced on Monday Qatar plans to withdraw from the Organization of Petroleum Exporting Countries (OPEC).

Iran Denies Oil-for-Food Agreement between Iran and South Korea

TEHRAN (Shana) -- A spokesman for the Iranian Ministry of Foreign Affairs denies any agreement between Tehran and Soul concerning oil-for-good deals.

Emerging markets will recover in 2019 as external factors stabilize: StanChart

A softer dollar, stable oil prices and lower U.S. treasury yields will take the pressure off emerging markets that have large U.S.-dollar denominated debt, says Eric Robertson, head of global macro strategy and FX research at Standard Chartered bank. Robertson is "cautiously optimistic" about the future of emerging markets because he says external factors are stabilizing. With India, Indonesia and Thailand heading for elections next year, there is political risk but external factors should mitigate that, says Robertson.

$This timeline shows how the US-China trade war led to Trump and Xi\'s high-stakes meeting$

This timeline shows how the US-China trade war led to Trump and Xi's high-stakes meeting

The Trump administration has one of its best opportunities yet Saturday to de-escalate a potentially ruinous trade war with China.

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