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Trade War - SERIES 109 {16 articles}

China's Geely puts brakes on Volvo Cars listing, trade war a...

9/10/2018, 8:47:33 AM
Chinese carmaker Geely [GEELY.UL] is delaying plans to list Volvo Cars [IPO-VOLVO.ST] due to uncertainties created by escalating trade tensions and the need to bolster the Swedish brand's presence in China, said a person familiar with the matter. ✔ REUTERS/Kim Kyung-Hoon Geely, which is led by magnate Li Shufu and has been one of China’s most aggressive dealmakers in the auto sector, also felt that listing the unit soon would make it difficult to realize its full valuation potential, the person said ✔ Hangzhou-based Geely is also under no pressure to go to market, the person added ✔ Geely sales are booming and it makes a ton of money ✔ Our Standards:The Thomson Reuters Trust Principles


China's exports are slowing. The trade war will make things worse

9/10/2018, 10:03:54 AM
Growth in Chinese exports slowed in August, according to official data, and President Trump's threats of even more tariffs add to the concerns. ✔ US-China trade war may raise gadget prices The Chinese economy's massive export engine is slowing down as the trade war heats up ✔ China's huge trade surplus with the United States is at the heart of the dispute ✔ China's stock market and its currency have been pummeled in recent months by investors concerned about the health of the country's economy


Trump's trade war has forced one of Europe's most famous automakers to delay a $30 billion IPO

9/10/2018, 9:07:20 AM
Volvo's parent company, Chinese car giant Geely, is worried that President Trump's trade war could impact the Swedish firm's valuation and see the share price slip in the immediate aftermath of the flotation. ✔ The parent company of Swedish automaker Volvo has postponed its planned initial public offering ✔ The FT reports that though Geely believed it had secured the backing of investors, it worried that Volvo's stock could slip in the immediate aftermath of the flotation, angering Swedish pension funds


World shares face longest losing streak since January 2016

9/10/2018, 9:26:45 AM
World shares were flirting with their longest run of declines since early 2016 on Monday, hit by rising anxiety about the U.S.-China trade war and another interest rate increase by the Federal Reserve later this month. ✔ Beijing had warned of retaliation if Washington launches any new trade measures ✔ But it is running out of room to match them dollar-for-dollar, raising concern it would resort to other measures, such as weakening the yuan or taking action against U.S. companies in China ✔ Our Standards:The Thomson Reuters Trust Principles


Apple’s China Distraction Before Wednesday’s Big Event

9/10/2018, 8:08:10 AM
President Trump has cast a formidable shadow in the days leading to Apple's big iPhone event on Wednesday. Over the weekend, he suggested in a tweet that Apple move its manufacturing plants to the U.S. to avoid tariffs in the simmering trade war between the U.S. and China. ✔ It's a recurring threat Apple Chief Executive Tim Cook  has heard from the White House, but a particular distraction in the days leading up to news of three new iPhones ✔ Underscoring Apple's reliance on the region, nearly every iPhone is built in China ✔ But the president told reporters Friday that imposing tariffs on $200 billion worth of Chinese products will take place very soon depending on what happens


Oil Prices Edge Higher as Investors Weigh Supply Concerns

9/10/2018, 10:52:12 AM
Oil prices ticked up following a week of volatile trading, as the market refocused on potential global disruptions to supply. ✔ Meanwhile, the headquarters of Libya’s National Oil Co. in Tripoli was targeted Monday by an apparent terrorist attack, potentially foreshadowing fresh disruptions to Libyan supply ✔ ICE gas oil, a benchmark for diesel fuel, changed hands at $687.00 a metric ton, up 1.44% from the previous settlement


China stocks slump as investors brace for next US tariff hit

9/10/2018, 8:07:13 AM
undefined ✔ Among Apple’s Taiwan-listed partners, many of which have large factories in China, iPhone camera lens maker Largan Precision closed down 7.8 per cent, major component supplier and assembler Hon Hai Precision Industry, also known as Foxconn, fell 3.4 per cent, and fellow manufacturer Pegatron sank 3.9 per cent


‘We must defend Germany!’ French EU minister plots STRONG Franco-German ties for GLOBAL EU

9/10/2018, 10:14:01 AM
FRANCE EU minister Jean-Yves Le Drian said the arrival of Donald Trump at the White House could serve as an opportunity to transform Europe into a "global" power through strengthened Franco-German ties. ✔ And a refounded Europe will become the global reference ✔ He added: Ever since the start, he has engaged in the methodical destruction of all of multilateralism regulatory tools that affect our lives and the planet ✔ Only Europe can give us some capacity for action in today’s world


Oil up as U.S. drilling stalls, Iranian sanctions bite

9/10/2018, 8:47:34 AM
Oil prices rose on Monday as U.S. drilling stalled and as investors anticipated lower supply once new U.S. sanctions against Iran's crude exports kick in from November. ✔ REUTERS/Jean-Paul Pelissier/File Photo Benchmark Brent crude oil was up 90 cents a barrel, or almost 1.2 percent, at $77.73 by 0820 GMT ✔ Governments can talk tough, said Energy consultancy FGE ✔ Russia, U.S. & Saudi crude output: tmsnrt.rs/2NqbrBZ Our Standards:The Thomson Reuters Trust Principles


Pound euro exchange rate: GBP buoyed by upbeat UK GDP reading

9/10/2018, 10:58:40 AM
THE pound euro exchange rate is currently trading at €1.118, with the pairing trading close to a three-week high following the latest UK growth figures. The pound is firming against the euro and the majority of its other peers this morning as markets welcome the release of the UK’s latest GDP figures. ✔ THE pound euro exchange rate is currently trading at €1.118 ✔ However slightly dampening sentiment this morning was the accompanying release of the UK’s industrial production reading, which saw factory output growth slow from 0.4 per cent to 0.1 per cent in July


Scandinavian currencies lead rebound versus struggling dollar

9/10/2018, 9:43:52 AM
The dollar struggled against its rivals on Monday, especially against the Scandinavian currencies, as some investors took profits after a strong rally in recent weeks although strong U.S. data kept the pressure on emerging market currencies. ✔ REUTERS/Marcos Brindicci/File Photo Against the euro EURNOK=D3, the crown rose 0.8 percent and was set for its biggest daily rise in more than four months at 9.70 ✔ Overall dollar positions saw their biggest drop in nearly six months as investors took some profits from a rally that has seen the greenback gain more than 6 percent since trade concerns shot into the spotlight ✔ Our Standards:The Thomson Reuters Trust Principles


European shares edge up as strong banks offset trade woes

9/10/2018, 9:00:08 AM
European shares inched up on Monday as banks gained, although trade-exposed sectors like autos suffered after U.S. President Donald Trump raised the stakes in the trade dispute with Beijing. ✔ UniCredit (CRDI.MI) gained after its chairman said the bank, Italy’s largest by assets, would assess strategic options as it planned for 2019 ✔ He was responding to a question about a possible merger with Societe Generale (SOGN.PA) ✔ Our Standards:The Thomson Reuters Trust Principles


Spotlight on Alibaba CEO Zhang as Jack Ma starts retirement countdown

9/10/2018, 9:51:08 AM
Unlike his charismatic boss, Jack Ma, Alibaba chief executive Daniel Zhang isn't usually one to grab the limelight, let alone make kung fu movies with superstars or dance in public. ✔ A global trade war is also hampering Alibaba’s ambitions for international expansion, including into the United States ✔ WEEKLY COMMUTE Zhang, who joined Alibaba in 2007, sees Alibaba as an integrated ecosystem that lures consumers with movies, live-streamed sports, fast food deliveries and news ✔ Our Standards:The Thomson Reuters Trust Principles


World stocks fall after Trump suggests more China tariffs

9/10/2018, 10:16:11 AM
SINGAPORE (AP) — European and Asian markets were mostly lower on Monday after U.S. President Donald Trump suggested placing tariffs on an additional $267 billion in Chinese goods ✔ SINGAPORE (AP) European and Asian markets were mostly lower on Monday after U.S. President Donald Trump suggested placing tariffs on an additional $267 billion in Chinese goods in a tit-for-tat dispute over trade ✔ The economy added a strong 201,000 jobs and the unemployment rate stayed at 3.9 percent, near an 18-year low, the government said Friday in its monthly jobs report


'A problem for one is likely a problem for all': RBA sounds Australian debt warning

9/10/2018, 9:37:07 AM
Australian households and the financial system are over exposed to an economic shock, the central bank has warned. ✔ This could have adverse effects on the real economy in the form of lower economic growth, higher unemployment and falling house prices, which could, in turn, amplify the negative shock ✔ Those children who had no prospect of a long life and now have the opportunity for that


Moonves Out, Ma Going, Trump Focus: CEO Daily for September 10, 2018

9/10/2018, 10:06:44 AM
Must-read business news, delivered every morning. ✔ By Alan Murray and David Meyer 5:58 AM EDT Good morning ✔ Ma told shareholders and customers: I have put a lot of thought and preparation into this succession plan for ten years ✔ The largest specimen of gold-encrusted rock weighed more than 90 kilograms (198 lbs,) and the cluster as a whole has so far yielded more than 9,000 ounces of the yellow stuff


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