Xi courts friends worldwide as trade war drags on
9/12/2018, 8:59:33 PMBeijing cultivates traditional American allies like Japan, Europe and India ✔ The two leaders also demonstrated their thawing relationship with a lakeside stroll ✔ Chinese President Xi Jinping and Indian Prime Minister Narendra Modi visit the Hubei Provincial Museum in Wuhan, China, on April 27 ✔ Try 3 months for $9 Offer ends September 30th
US invites China to talks as trade war escalates
9/13/2018, 3:47:18 AMMinisterial-level meeting would come before next wave of tariffs, White House adviser says ✔ U.S. Secretary of the Treasury Steven Mnuchin testifies to a House Financial Services hearing in July in Washington ✔ That's what we've been asking for months and months ✔ The timing and location of the proposed meeting were unclear, the sources familiar with the matter said ✔ Try 3 months for $9 Offer ends September 30th
Consultation, not a trade war, will settle bilateral disputes - Opinion
9/13/2018, 12:51:57 AMundefined ✔ Hopefully this will be rather temporary, and we'll get back to healthy development of our relationship ✔ This has to be a process of goodwill for goodwill, and good faith for good faith ✔ If we can reach an agreement through this approach, I don't think the current economic and trade issues would be that difficult (to resolve), Cui said ✔ The author is deputy editor-in-chief of China Daily USA
U.S. firms in China feeling 'clear and far reaching' trade war...
9/13/2018, 1:41:17 AMAmerican companies in China are being hurt by tariffs in the growing trade war between Washington and Beijing, according to a survey of hundreds of firms, prompting the U.S. business lobbies behind the poll to urge the Trump administration to reconsider its approach. ✔ On Wednesday, Larry Kudlow, who heads the White House Economic Council, told Fox Business Network that Treasury Secretary Steven Mnuchin had sent an invitation to senior Chinese officials to restart trade talks ✔ Our Standards:The Thomson Reuters Trust Principles
Three in five US companies in China hurt by trade war tariffs
9/13/2018, 2:24:37 AMundefined ✔ Nearly half of US companies expect a strong negative impact from the pending tariffs ✔ The survey also showed that 35 per cent of respondents have relocated China-based manufacturing to other countries in response to the trade war or are considering doing so
China may use its property markets to defend against Trump's trade war offensive
9/13/2018, 2:47:38 AMChina is under pressure from an onslaught of U.S. tariffs, but the government could blunt some of the negative effects by encouraging property prices to rise, according to a CLSA analyst. ✔ Qilai Shen | Bloomberg | Getty Images A poster featuring Xi Jinping, China's president, hangs on a wall as residential and commercial buildings stand in the background in China's Hebei province ✔ 'Leeway to leverage up' Wong said that rising property prices can help stimulate the economy in several ways, such as by encouraging buyers to accelerate purchases before the cost goes up, thus bringing forward future demand
Japan manufacturers' mood slips amid global trade tensions: Reuters...
9/12/2018, 11:35:05 PMConfidence among Japanese manufacturers slipped in September from August's seven-month high, a Reuters poll showed on Thursday, a sign the escalating trade war between Washington and Beijing is keeping exporters on edge. ✔ FILE PHOTO: An employee works at a beer production line at Japanese brewer Kirin Holdings' factory in Toride, Ibaraki Prefecture, Japan July 14, 2017 ✔ trade war, a manager of a machinery maker wrote in the survey ✔ Our Standards:The Thomson Reuters Trust Principles
U.S. invites China to trade talks as tariffs loom: White House adviser
9/13/2018, 12:12:35 AMThe Trump administration has invited Chinese officials to restart trade talks, the White House's top economic adviser said on Wednesday, as Washington prepares to escalate the U.S.-China trade war with tariffs on $200 billion worth of Chinese goods. ✔ REUTERS/Damir Sagolj/File Photo Larry Kudlow, who heads the White House Economic Council, told Fox Business Network that U.S. Treasury Secretary Steven Mnuchin had sent an invitation to senior Chinese officials, but he declined to provide further details ✔ That’s what we’ve been asking for months and months ✔ The timing and location of the proposed meeting were unclear, the sources familiar with the matter said ✔ Our Standards:The Thomson Reuters Trust Principles
Asia stocks rally on hopes of US-China thaw
9/13/2018, 2:10:27 AMundefined ✔ Asia equities rallied on Thursday on reports that the US is seeking talks with China to defuse trade tensions ✔ The US is trying arrange talks before President Donald Trump follows through on threats to impose tariffs on a further $200bn of Chinese imports ✔ Mainland Chinese stocks were also higher with the CSI 300 up 1.2 per cent
US-China trade talks would be 'a plus': Larry Kudlow
9/12/2018, 11:03:16 PMPresident Trump’s chief economic adviser Larry Kudlow confirmed to FOX Business on Wednesday that Treasury Secretary Steven Mnuchin has proposed renewed trade talks with China. ✔ Kudlow, the director of the National Economic Council, said the administration continues to make strides on the world trade front after the U.S. and Mexico agreed to a deal on overhauling the North American Free Trade Agreement (NAFTA) ✔ One of the big problems with Canada is a four letter word, he said
Gordon Brown stark WARNING: The world is ‘SLEEPWALKING’ into ANOTHER financial meltdown
9/13/2018, 12:12:04 AMGORDON Brown has issued a chilling warning claiming that we are in danger of sleepwalking into a new global economic crisis, rival to the financial breakdown of 2008. ✔ Brown said the leaderless world in which we now live is to blame for the escalation of risk (Image: Getty) Countries are at war with each other on trade, climate change and nuclear proliferation ✔ There has not been a strong enough message sent out that the Government won't rescue institutions that haven't put their houses in order
Oil prices slip as economic growth concerns counter tighter supplies
9/13/2018, 3:00:05 AMOil prices fell on Thursday, reversing some of the strong gains from the previous session, as economic concerns raised doubts about ongoing fuel demand growth. ✔ U.S. oil drilling, production & storage levels : tmsnrt.rs/2OKP4nJ TIGHTER SUPPLY Despite this, the short-term outlook for oil markets is for tighter supply ✔ Iran oil exports to Asia : tmsnrt.rs/2CEzade Our Standards:The Thomson Reuters Trust Principles
Markets Live: ASX braces for further losses
9/13/2018, 12:12:19 AMAustralian shares are set to fall further during the Thursday's trading session despite a base metal recovery following a muted day on Wall Street overnight. ✔ The trillions of dollars of monetary stimulus, delivered via quantitative easing, depressed interest rates and elevated the value of shares and property ✔ Jonathan Shapiro and Sarah Turner have the full story here ✔ Photo: Josh Robenstone More 9:03am Good morning and welcome to Markets Live for Thursday
8@eight template
9/12/2018, 9:55:26 PMWhat happened overnight and what's ahead for the ASX. ✔ Though traders are less than halfway through the month, a respectable end to September positions the US market for a solid end to 2018, with new all-time highs clearly in sight ✔ Market watch: SPI futures down 17 points or 0.3% to 6162 at 7.15am AEST AUD +0.7% to 71.72 US cents On Wall St: Dow +0.1% S&P 500 flat Nasdaq -0.2% In New York, BHP +1.2% Rio +1.8% Atlassian -1% In Europe: Stoxx 50 +0.5% FTSE +0.6% CAC +0.9% DAX +0.5% Spot gold +0.8% to $US1208.03 an ounce at 2.36pm New York time Brent crude +0.9% to $US79.73 a barrel US oil +1.7% to $US70.42 a barrel Iron ore +0.3% to $US67.86 a tonne Dalian iron ore +1.4% to 496 yuan LME aluminium +1% to $US2064 a tonne LME copper +2.4% to $US5997 a tonne 2-year yield: US 2.75% Australia 2.00% 5-year yield: US 2.86% Australia 2.15% 10-year yield: US 2.96% Australia 2.58% Germany 0.41% US-Australia 10-year yield gap: 38 basis points This column was produced in commercial partnership between Fairfax Media and IG
8@eight: ASX set for negative open
9/12/2018, 10:04:59 PMWhat happened overnight and what's ahead for the ASX. ✔ Though traders are less than halfway through the month, a respectable end to September positions the US market for a solid end to 2018, with new all-time highs clearly in sight ✔ Market watch: SPI futures down 17 points or 0.3% to 6162 at 7.15am AEST AUD +0.7% to 71.72 US cents On Wall St: Dow +0.1% S&P 500 flat Nasdaq -0.2% In New York, BHP +1.2% Rio +1.8% Atlassian -1% In Europe: Stoxx 50 +0.5% FTSE +0.6% CAC +0.9% DAX +0.5% Spot gold +0.8% to $US1208.03 an ounce at 2.36pm New York time Brent crude +0.9% to $US79.73 a barrel US oil +1.7% to $US70.42 a barrel Iron ore +0.3% to $US67.86 a tonne Dalian iron ore +1.4% to 496 yuan LME aluminium +1% to $US2064 a tonne LME copper +2.4% to $US5997 a tonne 2-year yield: US 2.75% Australia 2.00% 5-year yield: US 2.86% Australia 2.15% 10-year yield: US 2.96% Australia 2.58% Germany 0.41% US-Australia 10-year yield gap: 38 basis points This column was produced in commercial partnership between Fairfax Media and IG
Japan stocks climb on prospects of US-China talks
9/13/2018, 1:12:06 AMundefined ✔ The moves came after news US Treasury secretary Steven Mnuchin was seeking to meet with China’s top economic official Liu He, a bid to halt the trade dispute between the world’s two largest economies ✔ While markets should welcome the possible resumption of high level trade talks the road ahead may still be tricky, said JPMorgan Asset Management strategist Tai Hui
Chinese premier and Japan business chiefs pledge trade teamwork
9/12/2018, 8:59:32 PMLi discusses cooperation and RCEP as economic ties improve ✔ Li expressed a desire to make substantial progress on the RCEP before 2019, a source with the delegation said ✔ The chill between the two countries has faded lately, especially where the economy is involved ✔ Get unique insights on Asia, the most dynamic market in the world ✔ Try 3 months for $9 Offer ends September 30th
New iPhones debut against rising Chinese competitors
9/13/2018, 12:24:09 AMApple's $749 model will contend with cheaper brands in Asian markets ✔ The vast majority of Indian workers earn less than $2,000 per year ✔ Its Chinese rivals including Oppo, Vivo and Huawei grew their market share from 0.3% to 29.6% in the same period ✔ Some users say that apart from price, Chinese phones also have innovative features catered to the local population ✔ Try 3 months for $9 Offer ends September 30th
Apple: watch and learn
9/13/2018, 2:32:35 AMundefined ✔ Announcing the latest iteration of the Apple Watch, the company’s chief operating officer Jeff Williams encouraged the audience to admire the design ✔ Apple Watches are already the world’s best-selling watch, according to the company ✔ The risk is that President Donald Trump’s threat to impose import duties on $200bn of Chinese goods reignites a trade war that alters such projects and raises the prices of Apple products at home
Foreign companies welcome, FM says
9/13/2018, 12:51:30 AMBeijing reiterated on Wednesday that it welcomes foreign companies, including those from the United States, to invest and operate in China, and is willing to share development opportunities with them to achieve mutual benefits. ✔ Workers work at a car general assembly line in Cangzhou, north China's Hebei Province, Sept 12, 2017 ✔ US-based Exxon Mobil Corp, the largest oil and gas corporation in the world, announced a $10 billion investment to build a petrochemical project in Guangdong province earlier this month
Trump's siege of China hits Hong Kong
9/12/2018, 10:06:44 PMHang Seng`s plunge highlights need for urgent economic and social reform ✔ The capital exodus thrusting Hong Kong into a bear market, though, is really a story of its main strength becoming a weakness ✔ Any disruption to Asian supply chains will dent GDP ✔ Economic growth fell 0.2% quarter-on-quarter in the second quarter, the first drop since the first quarter of 2016 ✔ Try 3 months for $9 Offer ends September 30th
Gordon Brown warns we're in danger of sleepwalking into a repeat of 2008 crash
9/12/2018, 9:42:00 PMThe former prime minister insisted dangers had increased because the world is now "leaderless" ✔ Countries have retreated into nationalist silos and that has brought us protectionism and populism ✔ The fear that bankers will be imprisoned for bad behaviour is not there ✔ There has not been a strong enough message sent out that government won't rescue institutions that haven't put their houses in order
Fed has room to raise interest rates for some time, Brainard says
9/12/2018, 10:59:50 PMThe Federal Reserve has room to raise interest rates over the next couple of years without slowing economic growth, Fed Governor Lael Brainard said on Wednesday, suggesting that monetary policy would likely continue to tighten for some time. ✔ Brainard’s assessment suggests the Fed’s current round of interest-rate hikes could continue longer, and top out higher, without impeding the economic expansion ✔ Traders are currently betting the Fed will raise rates a total of four times this year, but maybe only twice next year ✔ Our Standards:The Thomson Reuters Trust Principles
Mnuchin bid for US-China trade talks boosts Asia-Pacific equities
9/13/2018, 3:18:00 AMundefined ✔ Thursday 03.05 BST What you need to know Asia stocks rally on prospect of US-China talks Dollar steady Brent crude nudges lower, remains in sight of $80 a barrel Overview Asia equities rallied on Thursday on reports the US was seeking talks with China to defuse trade tensions ✔ The energy sector was the biggest gainer, rising 2.2 per cent as oil prices climbed on impending Iran sanctions and as a big hurricane approached the US coast
Turkey’s central bank faces test of independence
9/13/2018, 3:14:55 AMundefined ✔ Inflation has hit nearly 18 per cent and the lira has hit a series of all-time lows, but since Recep Tayyip Erdogan won re-election in June, Turkey’s central bank has sat on its hands ✔ More will probably be needed to sustain a reversal of the lira’s course, said Adrien Pichoud, chief economist at SYZ Asset Management
Hidden in the strong economic statistics, many U.S. firms at home and in China feeling pain of tariffs
9/13/2018, 1:13:15 AMMasked by solid economic growth, Trump's tariffs are ensnaring a widening range of U.S. businesses here and abroad, from a metal fabricator in Nebraska to roughly half of the companies operating in China. Includes a new study on U.S. businesses in China and a Fed survey. ✔ But the tariffs and uncertainty already have cost him $400,000 more this year for steel and aluminum ✔ Asked about prospects for reviving trade talks with the Chinese, National Economic Council director, Larry Kudlow, told reporters Wednesday: We are in communication right now and you could say that communication has picked up a notch
Emerging markets checklist: a guide to the key economies
9/13/2018, 1:46:51 AMundefined ✔ A rising US dollar and hawkish Federal Reserve have hit the fortunes of emerging economies and markets ✔ This move could weaken investment and business sentiment Brazil Strengths Although the country has emerged from recession, its current account deficit has shrunk from 4.3 per cent of GDP in 2014 to 0.5 per cent last year
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