Blockchain will facilitate $31 billion in “food fraud savings” by the year 2024, according to new data from Juniper Research. According to the research, which was released earlier this week, blockchain, along with “internet of things” trackers and sensors, would help to drive down costs for retailers. This would be achieved through the streamlining of supply chains, efficient food recall processes and “simpler regulatory compliance.” Today, many consumers are increasingly aware of where their fo

Prime Minister Boris Johnson and Leader of the Labour Party Jeremy Corbyn shake hands during the ITV Leaders Debate on November 19, 2019 in Salford, England. Opposition Labour leader Jeremy Corbyn on Wednesday produced what he said were documents showing that Prime Minister Boris Johnson has discussed offering the United States access to the British health service in trade talks. Johnson has denied ever raising the sale of Britain’s National Health Service in such talks. Corbyn, who has argued t

China’s annual Economic Work Conference is likely to convene within the next two weeks, meaning a trade deal with the U.S. is “imminent,” according to ICBC Standard Bank Chief China Economist Jinny Yan. The world’s two largest economies are working toward a “phase one” trade deal, with U.S. President Donald Trump saying Tuesday that negotiators were in the “final throes” of talks. The next tariff deadline falls on December 15, after which point additional U.S. levies on Chinese exports will go i

Foreigners wave Chinese flags during a flash mob event celebrating the 70th anniversary of the founding of the People’s Republic of China at Yiwu International Trade City on August 15, 2019 in Yiwu, Zhejiang Province of China. China has overtaken the U.S. to become the world’s largest diplomatic network, according to the latest annual report from a Sydney-based think tank. The Lowy Institute’s 2019 Global Diplomacy Index, published Wednesday, showed China had climbed to the top spot for the firs

Wall Street poised to open higher44 Mins AgoU.S. stock index futures were slightly higher Wednesday morning as investors closely monitor global trade developments. CNBC’s Frank Holland reports.

At least two employees were injured in a fire raging at TPC Group’s chemical plant in Port Neches, Texas, early on Wednesday morning following a massive explosion felt 30 miles (48 kms) away from the plant. There were several explosions at the plant, with fires now blazing. Firefighters were battling to contain the fires and the initial explosion was followed by secondary blasts, said five sources. The Port Neches plant can produce more than 900 million pounds (408,233 metric tons) of chemicals,

Two women walk to the transit center amid snow and wind at Denver International Airport on November 26, 2019 in Denver, Colorado. Western and northern Wisconsin could be buried beneath 8 to 12 inches (20 to 30.5 centimeters) of snow, with 12 to 15 inches (30.5 to 38 centimeters) of lake-effect snow near Lake Superior. The system eventually moved east, allowing the Denver airport to begin returning to normal. In Nebraska, several school districts canceled classes Wednesday, and the southwestern c

Stephen F. Austin forward Nathan Bain (23) and guard David Kachelries (4) celebrate Bain’s game winning basket against Duke in overtime of an NCAA college basketball game in Durham, N.C., Tuesday, Nov. 26, 2019. With a breakaway layup at the overtime buzzer, Stephen F. Austin pulled off a shocker for the ages and did what no team outside the ACC had done in almost 20 years — topple mighty Duke at home. 1 Duke lost its grip on everything: The ball, the game, its prized home-court winning streak a

Continued low mortgage rates are keeping bankers busy, as refinance applications continue to rise. Refinance volume helped push total mortgage application volume up 1.5% last week compared with the previous week. This week’s annual comparisons are skewed, however, because last year the Thanksgiving holiday fell one week earlier, so these results are being measured against a holiday week. Annual comparisons are also widening because mortgage rates are so much lower now than they were a year ago.

U.S. stock index futures were slightly higher Wednesday morning. ET, Dow futures dipped 3 points but indicated a positive open of more than 30 points. Futures on the S&P and Nasdaq were both marginally higher. Trump’s upbeat comments on trade followed a phone call between officials from the U.S. and China on Tuesday. The positive market sentiment helped to push major averages on Wall Street to record highs in the previous session.

U.S. government debt prices were slightly lower Wednesday morning as traders monitored fresh economic data and developments in the U.S.-China trade war. At 02:00 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 1.7414%, while the yield on the 30-year Treasury bond was also higher at around 2.1782%. Market players have been monitoring trade developments between the U.S. and China with mixed messages about the prospect of the two count

Cloud of smoke from an explosion on the footbridge on the drive way in front of Hong Kong Coliseum and Hong Kong harbour during the protests. A major tunnel in Hong Kong reopened on Wednesday as a week-long police siege of a nearby university appeared to be winding down, closing one of the more violent chapters in the city’s anti-government protests. “Let me just stress that after these five-six months, Hong Kong people have realized very clearly that Hong Kong could no longer tolerate this chao

A Chinese flag floats in the middle of traditional lanterns on February 17, 2018 in Beijing, China. China raised $6 billion in its biggest ever international sovereign bond sale on Tuesday, as it pounced on the year’s sharp dive in borrowing costs. A 3-year issue priced 35 basis points above benchmark U.S. Treasuries, a source at one of the managing banks said. A 5-year bond priced at 40 bps above Treasuries, a 10-year at 50 bps above Treasuries and a 20-year tranche at 70 bps above Treasuries,

A pedestrian holding an umbrella walks past the Tokyo Stock Exchange, operated by Japan Exchange Group, in Tokyo, Japan, on Wednesday, Aug. 30, 2017. An expected recovery in Japanese corporate earnings will drive their stock prices higher, predicted Morgan Stanley, UBS and Nomura. Such anticipation has resulted in a recent rally in Japanese stocks. Nomura predicted the two indexes will climb to 25,000 and 1,850, respectively, by the end of 2020. “Japanese stocks have been shown to have a strong

Manchester City’s Spanish midfielder David Silva (R) celebrates during the English Premier League football match in England on April 13, 2014. The owner of English Premier League champions Manchester City is selling a $500 million stake to private equity firm Silver Lake, valuing the soccer club’s owner at $4.8 billion, the Financial Times reported on Wednesday, citing people with knowledge of the deal. The deal was signed on Saturday by CFG Chairman Khaldoon Al Mubarak and Silver Lake managing

Even in modern Japan, crowds still flock to see the biggest and best in the sport, with sumo wrestlers like Hakuho and Kakuryu established as household names. JIJI PRESS | AFP | Getty ImagesElite sumo is focused on six annual 15-day grand sumo tournaments. A sumo wrestler’s chignon is secured before a summer special event in Tokyo, Japan. A sumo wrestler picks up a handful of salt to throw into the ring before his bout. It opens at 9:30 a.m and is an especially good option for killing time after

Profits at China’s industrial firms shrank at their fastest pace in eight months in October, tracking sustained drops in producer prices and exports and underscoring slowing momentum in the world’s second-largest economy. Industrial profits fell 9.9% in October year-on-year to 427.56 billion yuan ($60.74 billion), data released by the National Bureau of Statistics showed on Wednesday, marking the biggest drop since January-February period and compared with a 5.3% decline in September. China’s in

STR | AFP | Getty ImagesAsia is “unable to feed itself” — and needs to invest another $800 billion in the next 10 years to produce more food and meet the region’s needs, according to a report. The population in Asia is growing, and consumers are demanding safer, healthier, and more sustainable food. Food spending will more than double — from $4 trillion in 2019 to over $8 trillion by 2030, said the Asia Food Challenge Report which was released last week. Richard Skinner PwCThat means Asia relies

Hong Kong-listed shares of Chinese tech giant Alibaba saw yet another stellar trading day following a blockbuster Tuesday listing in the city. Alibaba stock in Hong Kong rose 2.99% on Wednesday, adding to its first day gains of 6.6% on Tuesday. That puts the current stock price around 9.6% above the initial listing price of 176 Hong Kong dollars (approx. “Investors are jumping all over it in Hong Kong,” James Gerrish, portfolio manager at Shaw and Partners, told CNBC’s “Capital Connection” on We

President Donald Trump (L) shakes hand with China’s President Xi Jinping at the end of a press conference at the Great Hall of the People in Beijing on November 9, 2017. Chinese President Xi Jinping has had a “horrible couple weeks” politically — and he’s not likely to sign a “phase one” trade deal with U.S. President Donald Trump without any roll back in existing tariffs, one expert said. Any trade deal between the two countries “needs to be a win-win,” Okun said, and delaying new tariffs may n