Trade war escalates; Markets calm; Google goes driving
9/18/2018, 9:31:28 AMHere's what you need to know about the markets before you start your business day. ✔ Google goes driving: Google (GOOGL) will integrate its Android operating system into cars produced by Renault, Nissan and Mitsubishi under a partnership announced Tuesday ✔ Coming this week: Tuesday General Mills (GIS) and AutoZone (AZO) earnings; US Treasury foreign bond ownership stats Thursday Darden (DRI) Restaurants and Micron Technology (MU) earnings Friday S&P reclassification; new iPhones and Apple Watch hit stores
Dollar falls for second day as trade war escalates
9/18/2018, 11:52:31 AMThe dollar fell for a second consecutive day and the euro gained on Tuesday afte... ✔ The dollar’s knee-jerk reaction has subsided somewhat as some equity markets are managing to rise despite the trade news ✔ It appears that a consensus had already been formed beforehand on what the trade announcement would be, said Shusuke Yamada, currency and equity strategist at Bank of America Merrill Lynch in Tokyo ✔ Our Standards:The Thomson Reuters Trust Principles
Jack Ma: US-China trade war could last 20 years
9/18/2018, 10:41:58 AMThe US-China trade war will continue even after President Donald Trump leaves office, Alibaba founder Jack Ma said. ✔ Ma said a lot of businesses in China and the United States will be in trouble in the short term, and eventually, Chinese firms will be forced to turn to other countries ✔ The 54-year-old former teacher repeated his desire to pursue a new career, likely in the field of education ✔ In Alibaba I'm old, but in my career I'm still young
Sticks and carrots won’t work in trade war - Opinion
9/18/2018, 9:21:11 AMundefined ✔ When it comes to the trade war with China, the Trump administration has also adopted the practice of continuously increasing pressure in an attempt to bring China to its knees ✔ The author is a researcher with the China Center for International Economic Exchanges
Trump slaps $200BILLION of new tariffs on China as trade war escalates
9/18/2018, 11:56:05 AMDONALD Trump escalated his bitter trade war with China today by imposing tariffs of $200billion (£152bn) on goods arriving from the country. Beijing has threatened to retaliate against the move, fu… ✔ We have been very clear about the type of changes that need to be made, and we have given China every opportunity to treat us more fairly ✔ And last month, the trade war was further fuelled when the US brought in a 25 per cent tax on a second wave of goods worth $16bn (£12bn)
Trade War, Auto Antitrust, Musk Suit: CEO Daily for September 18, 2018
9/18/2018, 10:20:01 AMMust-read business news, delivered every morning. ✔ Unsworth aided the rescuers of young soccer players from a Thai cave, and denounced Musk’s attempt to help the mission with a mini-submarine ✔ Musk struck back with his evidence-free accusation, which he has repeated since ✔ Find previous editions here, and sign up for other Fortune newsletters here
China could target US tech stocks in trade war, Goldman Sachs warns
9/18/2018, 10:58:49 AMBeijing has said it has no choice but to retaliate to Washington's latest tariffs. ✔ Oppenheimer said another direct effect of China's response could be to raise the cost of goods in U.S. stores and that could lead to an uptick in inflation ✔ On a tactical basis, Oppenheimer said there could be some opportunity in emerging market stocks and currencies, which are beginning to look cheap
Trade war: Beijing vows to retaliate against Trump's tariffs on $200bn of Chinese goods - business live
9/18/2018, 9:31:40 AMAll the day’s economic and financial news, as China accuses president Trump of poisoning trade talks with his latest salvo of tariffs ✔ And more in sorrow than in anger, the ministry adds that it hopes the US realises the negative consequences of its actions, and corrects its behaviour ✔ Mike van Dulken (@Accendo_Mike) #FTSE100 Index called to open -35pts at 7265 after Trump imposes tariffs an another $200bn of China imports, weakening USD but keeping GBP strong; dual-listed Miners mixed downunder o'night pic.twitter.com/1FLkbslirS September 18, 2018 The agenda 8.15am BST: European Central Bank president Mario Draghi speaks in Paris Updatedat 2.36am EDT
Shares shrug as Trump fires off $200 billion of China tariffs
9/18/2018, 10:55:12 AMWho's afraid of the big bad trade war? Not world stock markets it seems. ✔ The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 17, 2018 ✔ Although this percentage may seem small, the tariffs will disrupt Sino-American supply chains, and may, therefore, triple the effects on world trade, ING warned ✔ Our Standards:The Thomson Reuters Trust Principles
China has 'no choice' but to hit back at Trump's $200 billion tariffs — kicking the trade war up another level
9/18/2018, 8:44:40 AMThe Chinese Ministry of Commerce (MOFCOM) said on Tuesday morning that it had "no choice" but to retaliate against the fresh tariffs, which mean that over half of all Chinese goods coming into the US will now be subject to the duties. ✔ March 22: Trump announces plans to impose a 25% tariff on $50 billion worth of Chinese goods ✔ May 21: After a meeting, the two countries announce the outline of a trade deal to avoid the tariffs ✔ September 18: China say it has no choice but to retaliate to the fresh tariffs in order to safeguard its legitimate rights and interests
Stock futures cautious as White House expands tariffs on Chinese goods
9/18/2018, 8:01:25 AMPresident Trump escalated the trade war by adding new tariffs on about $200 billion of Chinese imports. ✔ Japan's Nikkei returned to trading following Monday’s holiday and finished the day 1.4 percent higher ✔ Earnings are due Tuesday morning from Autozone, Cracker Barrel Old Country Store and General Mills ✔ FOX Business’ Mike Obel contributed to this article
Without much-needed investment, the US gas industry is facing a 'waste of capital,' IEA says
9/18/2018, 9:36:48 AMThe burgeoning trade war with China could cripple U.S. natural exports and risk losing billions of dollars in trade, market experts warn. ✔ J. Pat Carter | Getty Images A Halliburton oil well fielder works on a well head at a fracking rig site January 27, 2016 near Stillwater, Oklahoma ✔ If there is no export infrastructure development, then a large amount of American gas will simply stay on the ground, he said
China says it will strike back after latest US tariffs
9/18/2018, 10:13:50 AMChina is getting ready to retaliate against the latest US tariffs announced by President Donald Trump in a move that ramped up the trade war between the two countries.
5 ways Trump's tariffs on $200B in China goods could be felt
9/18/2018, 10:24:51 AMBALTIMORE (AP) — By imposing taxes on an additional $200 billion in Chinese goods, President Donald Trump has intensified a battle of wills between the world's two largest economi ✔ BALTIMORE (AP) By imposing taxes on an additional $200 billion in Chinese goods, President Donald Trump has intensified a battle of wills between the world's two largest economies and the outcome is far from certain ✔ And how all that plays out could determine whether Trump's negotiating gamble proves a triumph or a failure
China looks unlikely to give in after US tariff hike
9/18/2018, 11:52:00 AMBEIJING (AP) — Exporters scrambled to replace lost orders after U.S. President Donald Trump raised tariffs in July on $50 billion of Chinese imports. Waves of job losses loom over ✔ 18 warned a downward spiral appears certain after President Donald Trump approved a tariff hike on $200 billion of Chinese imports in a dispute over Beijing's technology policy ✔ But they object to Trump's tactics and warn the dispute could chill global economic growth and undermine international trade regulation
Oil rises on signs OPEC not prepared to boost output
9/18/2018, 11:21:23 AMOil firmed on Tuesday on signs that OPEC would not be prepared to raise output t... ✔ It casts doubts on whether Saudi Arabia will increase output to compensate for the loss of Iranian crude once sanctions come into effect, said Carsten Fritsch, an analyst at Commerzbank in Frankfurt ✔ U.S. sanctions affecting Iran’s petroleum sector will come into force from Nov. 4 ✔ Our Standards:The Thomson Reuters Trust Principles
China sees 'no choice but to counter' latest US tariffs
9/18/2018, 8:28:47 AMTrump's 10% levy on $200bn of goods threatens to sabotage negotiations ✔ Shares of iPhone assembler Foxconn Technology Group, traded as Hon Hai Precision Industry, fell by more than 2% at one point ✔ But he warned that if no U.S.-China trade deal can be reached by the end of 2018 and the U.S. tariff rate escalates to 25% .. ✔ Get unique insights on Asia, the most dynamic market in the world ✔ Try 3 months for $9 Offer ends September 30th
India delays imposition of retaliatory tariffs on US goods till Nov. 2
9/18/2018, 9:56:00 AMAsia-focused English-language publication that brings you insights about business, finance, economic and political news, comments and analysis for Asia, by Asia on asia.nikkei.com ✔ Separately, Trump escalated his trade war with China on Monday, imposing 10 percent tariffs on about $200 billion worth of Chinese imports ✔ (Reuters) Get unique insights on Asia, the most dynamic market in the world ✔ Try 3 months for $9 Offer ends September 30th
Tech still investors' favorite bet as gloom on economy grows: BAML...
9/18/2018, 10:18:39 AMU.S. and Chinese tech stocks remain overwhelmingly popular among investors, as t... ✔ The other two crowded trades were short positions on emerging market equities followed by long dollar, according to the poll ✔ This was the worst outlook on the global economy since December 2001 ✔ Trade war remained the biggest tail risk cited by investors; the fourth straight month this was cited as the biggest fear ✔ Our Standards:The Thomson Reuters Trust Principles
Japan-U.S. trade talks to see slight delay after new U.S. tariffs...
9/18/2018, 8:36:54 AMThe start of a second round of trade talks between Japan and the United States w... ✔ 21, but now will be delayed by three or four days, said the source with direct knowledge of the schedule ✔ REUTERS/Kham He asked not to be identified because he is not authorized to talk to the media ✔ Japan instead want to persuade the U.S. to rejoin the multilateral Trans-Pacific Partnership ✔ Our Standards:The Thomson Reuters Trust Principles
Investors’ economic optimism hits near-seven-year low
9/18/2018, 10:56:06 AMundefined ✔ Other popular shorts were UK assets and resources and commodities ✔ The risk of a China slowdown is a growing concern, however, along with the consequences that quantitative tightening could have on the markets ✔ Fund managers are signalling that they are starting to price in a hawkish Fed
European shares follow Asia up after new U.S. trade salvo
9/18/2018, 9:20:55 AMEuropean shares followed their Asian peers upwards after U.S. President Donald T... ✔ LONDON (Reuters) - European shares followed their Asian peers upwards after U.S. President Donald Trump imposed 10 percent tariffs on an additional $200 billion worth of Chinese imports and warned of duties on more products if China took retaliatory action ✔ Exemptions have turned this into something of a sell the rumour, buy the fact type scenario for investors, he said ✔ Mergers and acquisitions prompted steep moves across European bourses ✔ Our Standards:The Thomson Reuters Trust Principles
Trade war’s ‘nuclear option’ could be bad for Apple, Amazon: strategist
9/18/2018, 11:30:41 AMOur call of the day says don’t get too relaxed about trade wars. Michael O’Rourke warns that China could have a ‘nuclear option’ up its sleeve that would equal a ‘scorched earth’ approach. ✔ Visa V, -1.12% and Mastercard MA, -0.68% have settled a class-action suit with U.S. retailers for a proposed $6.2 billion ✔ What’s worse is there’s a simple solution that they refuse to accept ✔ We Want to Hear from You Join the conversation Comment
Tech stocks take heart from tariff exceptions
9/18/2018, 11:52:29 AMU.S. stock exchange futures were higher on Tuesday, helped by a rise in oil pric... ✔ Shares of Apple rose 0.3 percent in early premarket trading, after falling on trade concerns on Monday, although the iPhone was also not among the ‘wide range’ of products Apple said would be hit by the $200 billion round ✔ (This version of the story has been refiled to add dropped word in lead) Our Standards:The Thomson Reuters Trust Principles
10 Things to Know for Today
9/18/2018, 10:35:55 AMYour daily look at late-breaking news, upcoming events and the stories that will be talked about today: 1. SHOWDOWN BETWEEN KAVANAUGH, ACCUSER SET Their swor ✔ Your daily look at late-breaking news, upcoming events and the stories that will be talked about today: 1 ✔ CHINA VOWS TO RETALIATE IN ESCALATING TRADE WAR Beijing says it will take counter-measures to Trump's decision to raise tariffs on $200 billion of Chinese imports
EU lays out WTO reform ideas to rein in U.S., China
9/18/2018, 10:18:41 AMThe European Commission published its ideas on Tuesday for reforming the World T... ✔ By the end of September, the normally seven-strong chamber will have only three judges, the number required to hear each appeal ✔ The tough U.S. stance has prompted a flurry of diplomatic talks as WTO members try to work out how to respond ✔ Our Standards:The Thomson Reuters Trust Principles
Oil rises as Saudi says it is comfortable with higher prices
9/18/2018, 9:55:34 AMOil prices firmed on Tuesday after Saudi Arabia indicated it was comfortable wit... ✔ Oil markets are in a tug of war as Iran sanctions will continue to provide near-term support, while discussions around global demand in the wake of this morning’s tariffs and speculation of further OPEC supply increases should temper upside ambitions, Oanda head of trading Stephen Innes said
Traders are the most scared in 28 years that a sudden market meltdown will catch them off-guard
9/18/2018, 10:23:58 AMBI PRIME: A stock market measure that reflects investor worry around a low-probability meltdown is the highest on record, according to data going back to 1990. It may not be immediately clear what could cause such a catastrophic event, but investors are playing it safe nonetheless. ✔ The traders responsible for pushing the SKEW index up so high are trying to make sure they're not caught flat-footed ✔ Looking beyond the practice of hedging, it's also entirely possible that investors are skeptical the US market has much further to climb ✔ To read the full article, simply click here to claim your deal and get access to all exclusive Business Insider PRIME content
Hong Kong stocks rebound amid China policy hopes
9/18/2018, 10:51:49 AMSome cement and infrastructure companies jump in the afternoon to aid recovery ✔ People are now longing for China to quickly roll out a series of fiscal easing and sector-supporting measures soon, said Jason Lee, vice president for stocks at Hong Kong investment consultancy Investment Strategy Institute ✔ Try 3 months for $9 Offer ends September 30th
U.S. tech giants eye AI key to unlock China push
9/18/2018, 10:55:05 AMU.S. technology giants, facing tighter content rules in China and the threat of ... ✔ Liu He, China’s powerful vice premier and the key negotiator in trade talks with the United States, said his country wanted a more collaborative approach to AI technology ✔ As members of a global village, I hope countries can show inclusive understanding and respect for each other, deal with the double-sword technologies can bring, and embrace AI challenges together, he told the forum ✔ Our Standards:The Thomson Reuters Trust Principles
No time for complacency 10 years after the crash
9/18/2018, 9:21:45 AMDespite the global recovery, new threats loom ✔ Driving this shift are exchange-traded funds and pension funds that invest in corporate bonds, among other instruments ✔ The swelling pool of cash made available thanks to prolonged ultraloose money policies in Japan, the U.S. and European nations is flowing into the global bond market not through banks but investment funds and other market players ✔ Try 3 months for $9 Offer ends September 30th
Stock futures edge up, but trade uncertainty remains in focus
9/18/2018, 11:30:42 AMU.S. stock-index futures were slightly higher on Tuesday, though investors continued to monitor the latest development on the trade-policy front, which has recently shown signs of escalating. ✔ The only economic data point scheduled for release on Tuesday is the September home builder’s index, which will be released after the market opens ✔ In Europe, European Central Bank President Mario Draghi urged eurozone governments to take further action to shore up the region’s banking sector, including by creating a common insurance plan for bank deposits ✔ We Want to Hear from You Join the conversation Comment
China says Trump forces its hand, will retaliate against new U.S....
9/18/2018, 9:06:53 AMChina said on Tuesday that it has no choice but to retaliate against new U.S. tr... ✔ President Trump is a hard-hitting businessman, and he tries to put pressure on China so he can get concessions from our negotiations ✔ I think that kind of tactic is not going to work with China, Fang Xinghai, vice chairman of China’s securities regulator, said at a conference in the port city of Tianjin ✔ Our Standards:The Thomson Reuters Trust Principles
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