Business news
- China says trade deal with U.S. will 'drain Taiwan’s economy' for American benefits - China doubled down its rhetorics on the trade agreement between Taiwan and the U.S., saying it would benefit Washington while eroding the island's strategic advantages.
- Mortgage refinances surged again, but rates are now suddenly jumping higher - Mortgage refinancing jumped sharply higher for the second straight week, as interest rates fell further, but that boom may be about to bust.
- Trump to speak at Davos as his Greenland push, tariff threats take center stage - Trump said over the weekend that he would slap tariffs on imports from eight European countries in retaliation for moving troops to Greenland.
- Putin meeting set for Thursday, Witkoff says, with Ukraine 'land deals' on the table - A meeting with Russian President Vladimir Putin is set to take place on Thursday with "land deals" over Ukraine on the table, Special Envoy Steve Witkoff said.
- U.S. still 'the closest of allies' with the UK despite rift, Finance Minister Reeves says - The U.S. remains the "closest of allies" with the U.K. despite a growing rift between the U.S. and Europe over the future of Greenland, Rachel Reeves told CNBC.
- Treasury yields inch lower as investors monitor escalating trade tensions - U.S. Treasury yields declined on Wednesday, tentatively retreating from a sell-off that spurred a flight from U.S. assets on Tuesday.
- Scott Bessent says U.S. is unconcerned by Treasury sell-off over Greenland, calls Denmark ‘irrelevant’ - U.S. treasury secretary Scott Bessant addressed reporters at a press conference at the World Economic Forum on Wednesday.
- CNBC's UK Exchange newsletter: A diplomacy tightrope for Britain’s Starmer after Trump’s tirades - U.K. PM Keir Starmer is treading a fine line in diplomacy — and appears to be banking on Britain’s “special relationship” with the U.S. to deliver a compromise.
- Gold breaks new record on Greenland tariff threats, with forecast of $7,000 on the cards - Gold prices climbed to another record of over $4,800 on Wednesday, extending its sharp rally.
- India’s largest company is caught in geopolitical tensions. But it faces the biggest challenge at home - The retail business is facing a slow down in sales, which has pushed brokerages to cut down on target price.