Finance

Increasing government spending on healthcare could help boost consumption in China, the International Monetary Fund said. BEIJING — High healthcare costs are a big factor driving people in China to save, rather than spend, their money, the International Monetary Fund pointed out in a new book titled "Toward a New Economic Growth Model for China." In rural China, 8.7% of disposable income is spent on healthcare — just second to.

Finance

The latest 12-month period marked the strongest return for the university's fund since 2021. Harvard University's endowment grew 27.1% in fiscal year 2026, its strongest return in five years, the school said in its annual financial report released on Thursday. The endowment, which beat the S&P 500's 22.3% total return in the same period by 4.8 percentage points, now totals nearly $68 billion. The outperformance came amid actions by the.

Finance

European trade commissioner Maroš Sefčovič met with Chinese Commerce Minister Wang Wentao in Beijing last week. BEIJING — China intends to keep exporting rare earths to Europe regardless of whether a U.S. trade deal with Beijing gets extended past January. The world's second-largest economy is willing to continue approving rare earth licenses to Europe, China's Commerce Ministry spokesperson He Yadong told CNBC when asked on Thursday about the impact of.

Finance

Bank of America hired 1,000 contractors to patch software flaws exposed by Anthropic’s Mythos, offering a rare look at costs involved in defending against AI. Bank of America has hired an army of external contractors to help it patch software vulnerabilities exposed by advanced artificial intelligence models including Anthropic's Mythos, the bank's CEO, Brian Moynihan, told CNBC on Wednesday. In an interview after the bank's third-quarter earnings release, Moynihan said.

Finance

Morgan Stanley is expected to benefit from robust investment banking and equities trading revenue. Morgan Stanley posted third-quarter results that beat expectations on blockbuster results in its equities trading franchise. Morgan Stanley is expected to benefit from robust investment banking and equities trading revenue in the quarter, as rivals Goldman Sachs and JPMorgan Chase showed in their reports this week. Analysts will want to know what CEO Ted Pick has.

Finance

The U.S. Treasury Department announced a $1.2 billion penalty against Bank of America on Tuesday. Bank of America is scheduled to report third-quarter earnings before the opening bell Wednesday, just one day after the bank was hit with a $1.2 billion penalty by the U.S. Treasury Department. That charge, which cut net income by 17 cents a share, will inevitably spark questions as to whether CEO Brian Moynihan has a.