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World Stock Markets Rebound from Rout

Global stock markets rebounded Friday, one day after ferocious losses sparked by heightened economic concerns, notably over rising U.S. interest rates that have drawn attacks from President Donald Trump on his "crazy" central bank.

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U.S. Treasury Secretary Remains Concerned about Weak China Currency

U.S. Treasury Secretary Steven Mnuchin said Friday he had told the head of China's central bank about his concerns over the weakness of China's currency.

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US Treasury Secretary: Economy Strong, Stock Drop a 'Natural Correction'

Treasury Secretary Steven Mnuchin said Friday the US economy remains strong, and the recent decline in the stock market was "just a natural correction."

After two days of sharp declines in US and global stock markets over fears of rising interest rates and the US trade conflicts, Mnuchin said in an interview on CNBC that markets "tend to go too far in both directions" and will have natural corrections.

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China-US Surplus Hits Record, Adding Fuel to Trade War

China's trade surplus with the United States ballooned to a record $34.1 billion in September, despite a raft of US tariffs, official data showed Friday, adding fuel to the fire of a worsening trade war.

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IMF Chief Defends Rate Hikes after Trump Slams 'Crazy Fed'

IMF chief Christine Lagarde on Thursday defended central bank rate hikes in a veiled rebuke to Donald Trump after the US president blamed "crazy" Fed policies for contributing to financial market turmoil.

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EU: Brexit Means New Controls on Trade to N. Ireland

Britain will have to accept limited new administrative controls on trade with Northern Ireland in any negotiated Brexit deal, Europe's chief negotiator warned on Wednesday.

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Brazil Stocks Fall as Bolsonaro Puts Limits on Privatization Plan

Brazil's stock market took a dive Wednesday after far-right presidential frontrunner Jair Bolsonaro defined limits for his privatization plans for the country's huge energy sector, specifically to keep key assets out of Chinese control.

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US Treasury Chief Warns China against Currency Devaluations

US Treasury Secretary Steven Mnuchin warned China on Wednesday against engaging in competitive currency devaluations as the two countries wage a trade war, in comments published in the Financial Times.

There are several factors behind the recent fall in the Chinese yuan, or renminbi (RMB), including economic issues in China, Mnuchin he told the newspaper ahead of meetings in Bali, Indonesia of the IMF, World Bank and G20.

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IMF: Trillions in US Net Worth Vulnerable to Recession

A severe recession would slash US public wealth by about $5 trillion, causing vastly more damage to Washington's finances than just an increase in debt and deficits, the IMF warned Tuesday.

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Uber Drivers Stage 24-Hour Strike in Britain

Drivers for taxi-sharing app Uber went on strike in Britain on Tuesday, demanding higher fares and improved workers' rights and urging users not to cross the digital picket line by ordering rides.

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