US-China trade war is starting to hurt our clients, top banking CEO says
A top banking CEO from Europe warned that his clients are starting to feel the impact from global trade tariffs. ✔ Last week, the U.S. and China slapped tariffs on $16 billion worth of goods on each other ✔ The departure date has been scheduled for March 29 next year meaning that negotiators have about six months to conclude negotiations on aspects such as the movement of people and goods across the border between Northern Ireland and the Republic of Ireland
Taiwan's LCD makers upbeat on second half as prices recover
Innolux and AUO ready to shift production in response to trade war ✔ The shortage of components prompted many clients to order more panels than they needed to ensure smooth shipments amid the peak season ✔ If the U.S. initiates retaliatory tariffs on Chinese [TV] exports, the companies will eventually transfer the rising costs to consumers and sequentially hurt the market demand
G20 trade falls for first time since 2016 as tensions hit confidence
Trade across the world’s biggest economies fell in the second quarter of the year, ending a growth spurt that has been running since mid-2016, according to official figures. ✔ Growing protectionism is taking a toll on global demand ✔ The eurozone remains one of the regions most vulnerable to trade wars, she said ✔ It could be that in part reflects the wearing off of European Central Bank stimulus efforts which had pushed up eurozone growth
US challenges Russia tariff retaliation
It is the latest objection from the US to the global retaliation against its metals tariffs, which it announced in March. ✔ The US started to collect a 25% border tax on foreign steel and a 10% border tax on foreign aluminium in March, with some exceptions ✔ Even within the US, however, politicians and other experts argue that tariffs on metals from close allies, such as Canada, bear little relation to national security
Vietnam to let traders use yuan along China border
Central bank appears to be striving to reduce risks from dollar transactions ✔ Vietnamese exporters to China are losing competitiveness because of the dong's strength relative to the yuan, said Nguyen Tri Hieu, a Vietnamese economist ✔ The central bank's move comes about a week after Tran Quoc Vuong -- a permanent member of the Communist Party of Vietnam Central Committee's Secretariat and a potential candidate for party chief -- visited Beijing and met with Chinese President Xi Jinping on Aug. 20
Turkish Lira Weakens as Central Bank Fails to Assuage Investors
Turkey’s central bank took steps to undo some of the emergency support it provided to its banks, reviving investor concerns over the nation’s financial stability as the lira continued its slide against the dollar. ✔ In early afternoon European trading, $1 bought 6.45 lira ✔ Turkey’s central bank had pledged to provide banks with all the liquidity they needed earlier this month, after the lira had tumbled to its lowest reading ever against the dollar, said it had reintroduced a ceiling on such borrowing, in effect limiting banks access to short-term funding ✔ In recent weeks, the Trump administration has piled sanctions and new tariffs on the country, raising fear of a full-blown trade war
Global stocks steady as US markets appear to lose momentum
LONDON (AP) — Global stock markets traded in fairly narrow ranges Wednesday amid signs that Wall Street is taking a breather ahead of a long holiday weekend. KEEPING ✔ LONDON (AP) Global stock markets traded in fairly narrow ranges Wednesday amid signs that Wall Street is taking a breather ahead of a long holiday weekend ✔ Hong Kong's Hang Seng added 0.2 percent to 28,416.44 and Seoul's Kospi advanced 0.3 percent to 2,309.03
Boom! US economy logs best performance in nearly 4 years
Businesses spent more on software than previously estimated in the second quarter and the nation also imported less petroleum. ✔ GDP revised to 4.2% in second quarter 36 Mins Ago | 01:44 U.S. economic growth was a bit stronger than initially thought in the second quarter, notching its best performance in nearly four years, as businesses boosted spending on software and imports declined ✔ That was a moderation from the first quarter's brisk 3.9 percent pace
U.S. second-quarter GDP growth raised to 4.2 percent; consumer...
U.S. economic growth was a bit stronger than initially thought in the second quarter, notching its best performance in nearly four years and putting the economy on track to hit the Trump administration's goal of 3 percent annual growth. ✔ U.S. stock index futures were largely flat while prices of longer-dated U.S. Treasuries were slightly higher ✔ INCOME GROWTH SLOWS An alternative measure of economic growth, gross domestic income (GDI), increased at a rate of 1.8 percent in the second quarter, slowing from the first quarter’s brisk 3.9 percent pace ✔ Our Standards:The Thomson Reuters Trust Principles
Lawmakers Push to Sanction Chinese Officials Over Xinjiang Camps
Members of Congress are pressuring the Trump administration to confront Beijing over the mass roundup of Muslims in internment camps, urging travel and financial sanctions be clamped on senior Chinese officials involved in the detentions. ✔ A high-tech surveillance network enables police to track and collect evidence on people seen as potentially threatening ✔ In April, a Uighur man was mistakenly deported from Germany to China due to what officials called an administrative error, according to German media reports
World stocks slip as uncertainty over NAFTA nags
Global stocks eased on Wednesday on uncertainty over Canada’s position in NAFTA, and with investors also nervous ahead of a deadline for the next round of China-U.S. tariffs next week. ✔ CHINA TARIFF DEADLINE LOOMS, EM PRESSURE REMAINS On another front of the global trade conflicts, a deadline for public comment on Trump’s increased tariffs on $200 billion of Chinese goods was less than a week away on Sept ✔ Our Standards:The Thomson Reuters Trust Principles
Global unease, from commerce to currencies, rattles raw materials
Are the worst fears now priced in? ✔ Gold has developed a strange habit of sliding in sync with the Chinese yuan ✔ Farmers hope to sell more in Europe, where soyameal for animal feed is in high demand because of the high cost of wheat ✔ As Mr Seifried quips from the cornfields of Nebraska, predicting the future is a son of a bitch
Europe needs a clean break from America on security
It might at first look like a full-scale rebellion in Europe. ✔ (CNN)It might at first look like a full-scale rebellion in Europe ✔ It's unlikely that the Europeans are going to give up on NATO completely until they have something else in place, says Smith ✔ A new order can only come to life with substantively new ideas
Chinese plow into Thai property as opportunities dry up at home
Buyers from China have poured in $10bn since 2015 as boom shows no sign of abating ✔ He only takes a day off each week and has not had a vacation for six months ✔ But Wei is not an executive of a Fortune 500 company nor is he a founder of a highflying startup ✔ Thailand's postcard-like scenery is a big draw for Chinese homebuyers as they believe real estate prices will grow in line with the country's flourishing tourism, Yan said
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