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Trade War - SERIES 73 {15 articles}

Video: Cargo vessel loses race against time in US trade war

8/30/2018, 11:04:16 PM
Check out this animation on how cargo vessel Peak Pegasus suffered in the trade war ignited by the US against China.


S&P 500 retreats from record high as trade war rumours flare up

8/30/2018, 9:09:55 PM
undefined ✔ Stocks fell and government bonds rallied after Bloomberg reported President Donald Trump had told aides he wanted to move ahead with plans to place tariffs on $200bn of Chinese imports in a move that would continue the trade war between Washington and Beijing


Markets Live: ASX to close the week higher

8/30/2018, 11:45:22 PM
The Australian sharemarket is set to close out the week in the green despite the threat of a US-China trade war escalation next week. ✔ Search ASX quotes Find by company name or ASX code 9:40am Here are the overnight market highlights: SPI futures up 16 points or 0.3% to 6340 at about 6.55am AEST AUD -0.6% to 72.63 US cents On Wall St: Dow -0.5% S&P 500 -0.4% Nasdaq -0.3% In New York, BHP -2.2% Rio -1.5% Atlassian -0.2% In Europe: Stoxx 50 -0.7% FTSE -0.6% CAC -0.4% DAX -0.5% Spot gold -0.6% to $US1199.93 an ounce at 2.57pm New York time Brent crude +0.8% to $US77.74 a barrel US oil +1.1% to $US70.28 a barrel Iron ore -2.2% to $US65.87 a tonne Dalian iron ore +1.9% to 490 yuan LME aluminium -1.8% to $US2132 a tonne LME copper -0.3% to $US6066 a tonne 2-year yield: US 2.65% Australia 1.99% 5-year yield: US 2.75% Australia 2.17% 10-year yield: US 2.86% Australia 2.57% Germany 0.34% Greece 4.32% US-Australia 10-year yield gap: 29 basis points More 9:19am Oaktree Capital Management would be limited to controlling 30 per cent of Blue Sky Alternative Investments in a proposed deal that will see it invest $60 million via a convertible note ✔ It confirmed talks with Oaktree in late July, following a report by The Australian Financial Review's Street Talk column ✔ More 8:57am Good morning and welcome to Markets Live for Friday


EU ready to SCRAP all trade tarrifs on cars if US agrees - as stocks JUMP

8/30/2018, 8:29:10 PM
STOCK prices for automobile traders across Europe spiked after the European Union's trad eboss declared the bloc would scrap trade tariffs on motors if the United States did the same. ✔ Following his tweet, shares fell at BMW, Volkswagen, Fiat Chrysler and Mercedes-maker Daimler ✔ The European Commission could not be reached for comment ✔ Currently, the US impose a 25 percent duty on light trucks and pickups and 2.5 percent on smaller autos


Wall Street slides on China trade tensions

8/30/2018, 9:24:35 PM
The rally in US stocks came to a halt on Thursday on new concerns that the US-Chinese trade dispute will intensify. ✔ President Donald Trump has told aides he is ready to impose tariffs on $US200 billion ($275 billion) more in Chinese imports as soon as a public comment period on the plan ends next week, Bloomberg News reported ✔ It was an average sleepy summer afternoon going into the long (Labor Day) weekend until the latest Trump announcement of tariffs on China, said Robert Phipps, director at Per Stirling Capital Management in Austin, Texas


Trump wants tariffs on $200 billion of Chinese goods next week, sources say

8/30/2018, 8:24:03 PM
President Trump wants to move ahead with a plan to impose tariffs on $200 billion worth of Chinese imports as soon as a public-comment period concludes next week, according to six people familiar with the matter. ✔ 6 to submit comments on the proposed duties, which cover everything from selfie sticks to semiconductors ✔ Trump’s plan to bring down his biggest hit yet on China comes as two-way trade talks show little signs of progress ✔ If the president hands the China file to Lighthizer, there’s a chance of real progress, Alden said


8@eight: Trade tensions return to markets

8/30/2018, 10:05:01 PM
What happened overnight and what's ahead for the ASX. ✔ The Yuan has also given up ground on its recovery, slipping back to 6.86 and towards the key 6.90 mark, as risk appetite dries-up amid worries of the potential impacts of US President Trump’s proposed $US200bn worth of tariffs on Chinese goods ✔ Market watch:  SPI futures up 16 points or 0.3% to 6340 at about 6.55am AEST AUD -0.6% to 72.63 US cents On Wall St: Dow -0.5% S&P 500 -0.4% Nasdaq -0.3% In New York, BHP -2.2% Rio -1.5% Atlassian -0.2% In Europe: Stoxx 50 -0.7% FTSE -0.6% CAC -0.4% DAX -0.5% Spot gold -0.6% to $US1199.93 an ounce at 2.57pm New York time Brent crude +0.8% to $US77.74 a barrel US oil +1.1% to $US70.28 a barrel Iron ore -2.2% to $US65.87 a tonne Dalian iron ore +1.9% to 490 yuan LME aluminium -1.8% to $US2132 a tonne LME copper -0.3% to $US6066 a tonne 2-year yield: US 2.65% Australia 1.99% 5-year yield: US 2.75% Australia 2.17% 10-year yield: US 2.86% Australia 2.57% Germany 0.34% Greece 4.32% US-Australia 10-year yield gap: 29 basis points This column was produced in commercial partnership between Fairfax Media and IG


Europe owes peace and prosperity to ‘friendship with US’ – UK foreign secretary

8/30/2018, 9:11:01 PM
Europe should be thankful to the US for its peace and prosperity, claims UK Foreign Secretary Jeremy Hunt, praising the friendship with Washington and calling for unity amid deep divisions over US tariffs and Iran policy. ✔ Hunt arrived to the meeting of EU foreign ministers in the Austrian capital of Vienna on Thursday, saying that not only Brexit but also the transatlantic relations will be discussed in a lot of detail during the gathering ✔ On Monday, French President Emmanuel Macron said that Europe can no longer entrust its security to the US and should finally take responsibility for guaranteeing its sovereignty


Embattled ZTE Is Back on Track, But Its Core Problem Remains

8/30/2018, 9:40:20 PM
A U.S. trade embargo has been lifted, but the Chinese company is still deeply dependent on foreign components. ✔ Li Zixue delivered the news at a shareholder meeting on Tuesday ✔ As of today, he said, our operating business has resumed completely ✔ But the prohibition exposed a massive hole at the heart of China’s tech industry: a debilitating dependence on foreign components ✔ Until it has, ZTE risks being derailed again at any time


Expert reveals UK will regain power to get STRONG financial foothold in China post-Brexit

8/30/2018, 9:55:16 PM
BREXIT Britain will have the power to strike a promising trade deal with China and once free from EU constrictions UK financial services firms could partner with powerful non-EU businesses, finance expert Marc Franklin has revealed. ✔ Brexit news: Expert claims UK will have an opening to gain financial foothold in China post-Brexit (Image: GETTY•CNBC) It might be an opening for UK financial service businesses to gain a foothold in China Marc Franklin Britain has pushed a strong message to Chinese companies that it will be open for business after leaving the EU in March 2019 and that China is one of the countries it wants to sign a free trade deal with


U.S. stocks drop on fear of escalated trade spat; Argentine peso...

8/30/2018, 8:51:34 PM
The rally in U.S. stocks came to a halt on Thursday on new concerns that the U.S.-Chinese trade dispute will intensify, while economic turmoil in Argentina and Turkey sent those countries' currencies tumbling. ✔ Earlier this month, Turkey’s currency crisis sent the lira to a record low against the U.S. dollar and sparked concerns about emerging markets investments ✔ [O/R] (Graphic: World FX rates in 2018 tmsnrt.rs/2egbfVh) Our Standards:The Thomson Reuters Trust Principles


China's top tech flocks to inland cities to develop AI

8/30/2018, 10:14:51 PM
Attracted by low tax and cheap labor, Tencent, Alibaba and Baidu seek partnerships ✔ Not to be outdone, e-commerce leader Alibaba Group Holding said it will pour resources into smart production ✔ Amid the trade war with the U.S., China's top leadership has thrown infrastructure spending into overdrive in an effort to prop up the economy ✔ During a July inspection tour of Tibet, Premier Li Keqiang said the infrastructure deficit in China's inland areas must be resolved


Merkel and Macron seek INDEPENDENCE for Europe as rift with Trump DEEPENS

8/30/2018, 8:53:48 PM
ANGELA Merkel and Emmanuel Macron are calling for a stronger Europe in a bid to make the European Union financially and militarily independent from the US as they grow steadily uneasy with Donald Trump’s attacks against the continent. ✔ However, such an intervention force with a common military-strategic culture must fit into the structure of defence cooperation ✔ I want Europe to be a sovereign continent not a vassal, and that means having totally independent financing instruments that do not today exist ✔ Now you wouldn’t think of the European Union, but they’re a foe


After the Bell: Dow, S&P 500 Slide Because ‘More Good News’ May Sound Bad

8/30/2018, 10:05:02 PM
The Dow Jones Industrial Average tumbled 0.5% and the S&P 500 lost 0.4%, barely staying above the 2,900 level. ✔ After a week of rallying, all three major stock indexes closed with losses Thursday ✔ That means a major escalation in the trade war between the world’s two largest economies and might rattle the financial market that has been enjoying some cheerful growth recently


How do you know if Trump means what he says? From aides to foreign leaders, his audiences still struggle to translate

8/30/2018, 8:53:49 PM
Unlike past presidents, President Trump has an impetuous rhetorical style aimed mainly at his loyalists. But nearly two years after his election, it still confuses other audiences: lawmakers, the media, business and foreign leaders and even his own aides, who must turn tweets into policy (or not). ✔ McMaster, Secretary of State Rex Tillerson and, just this week, White House counsel Donald McGahn ✔ He had been promising a trade war with China since the election, but the markets got spooked when the frequency of tweets and comments went from weekly to daily ✔ When he is, Whipple added, he’ll have absolutely no credibility


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