US-China trade war prompts rethink on supply chains
9/3/2018, 12:11:05 PMundefined ✔ Steve Madden is shifting handbag production to Cambodia, Techtronic Industries is moving vacuums to Vietnam and Flex is looking to make speakers at new production centres from Mexico to Malaysia ✔ Sheng Lu, an assistant professor of fashion studies at the University of Delaware, said there were few spare workers or production facilities left
Asian stocks slide amid persistent Sino-American trade war woes
9/3/2018, 12:07:36 PMIndian automakers mixed after August sales data while AirAsia retreats after earnings ✔ So far, Beijing has retaliated in equal measure to Washington's moves ✔ The benefits include dividends and other payments received from infrastructure assets ✔ --Amy Lam & Suzannah Benjamin Get unique insights on Asia, the most dynamic market in the world ✔ Try 3 months for $9 Offer ends September 30th
US TRADE WAR: Japan to SUSPEND Iran oil imports amid threat of Trump sanctions
9/3/2018, 1:46:37 PMJAPANESE oil firms appear set to suspend imports from Iran amid fears Washington will target countries buying Iranian crude with trade sanctions. ✔ But although Iranian oil makes up a relatively small part of the total, industry experts say consumers in Japan may have to pay more for petrol and other petroleum-related products ✔ In August, Japan's Trade Minister Hiroshige Seko said that Tokyo would hold further negotiations with the United States to be granted exemptions from recently reimposed sanctions against Tehran and its trade partners
China offers another £45bn in funding to Africa as Xi strengthen ties amid US trade war
9/3/2018, 1:40:49 PMCHINESE President Xi Jinping offered another £45 billion ($60 billion) in financing for Africa and said Chinese companies will be encouraged to invest no less than £7.7 billion ($10 billion) over the next three years, but he also warned against "vanity projects". Speaking at the opening of a major summit with African leaders, Mr Xi promised development that people on the continent could see and touch, but that would also be green and sustainable. ✔ (Image: GETTY) China-Africa cooperation must give Chinese and African people tangible benefits and successes that can be seen, that can be felt President Xi Jinping Beijing has also fended off criticism it is only interested in resource extraction to feed its own booming economy, that the projects it funds have poor environmental safeguards, and that too many of the workers for them are flown in from China rather than using African labour
Trump's trade war with China is still raging — here are the states that could end up getting whacked
9/3/2018, 2:37:11 PMPresident Donald Trump is threatening to escalate his trade war with China by imposing tariffs on another $200 billion worth of Chinese goods. Here's how much each US states' economy relies on trade with China. ✔ Beijing has threatened to impose tariffs on $60 billion worth of US goods in response, and the moves could be a step to Trump's ultimate threat: tariffs on all goods coming in from China ✔ And in high-risk states like California and Washington, many House Republican incumbents are facing hard challenges from Democrats
Oil prices latest: China slows down as oil SOARS - Middle East destabilised in US vs China
9/3/2018, 5:00:00 PMOFFICIALS fear slowing Chinese demand for oil will destabilise the Middle East as the trade war between Beijing and Washington continues. ✔ The price of oil is set to rise as Iran’s ability to contribute to the world’s supply is restricted by US sanctions ✔ Oman’s Oil Minister, Mohammed bin Hamad Al Rumhy, told CNBC: The Middle East unfortunately is not in a stable position right now, and we are concerned that we are seen as a high risk region, and that effects our business ✔ So we are looking at both sides of this discussion
Tariff fight adds to China's economic challenges
9/3/2018, 1:28:16 PMBEIJING (AP) — China faces bigger economic challenges than its trade war with the U.S. Even before tit-for-tat tariffs, growth in the world's No. 2 economy was alrea ✔ But it is a tricky balance to strike and communist leaders worry the economy is weakening too much ✔ A lot of this economic slowdown is really the result of an intended policy, said Tai Hui of J.P ✔ Beijing responded by easing lending and boosting government spending.(AP Photo/Ng Han Guan, File)
EU Says It Is Open to More U.S. Beef Imports
9/3/2018, 5:33:18 PMThe European Union said it was willing to start talks with Washington on increasing U.S. beef imports, a move aimed at cementing a trade truce agreed upon in July. ✔ While Europe is importing most of its soy, beef is a more protected product as several countries, notably France, Germany, Spain and Ireland, are significant beef producers ✔ Meanwhile, a new round of talks between U.S. and EU trade officials is scheduled for Wednesday in Washington
Hard-pressed Chinese consumers are key to keeping the world's second-largest economy on track
9/3/2018, 7:12:09 PMFor the growth driver that will keep the world’s second largest economy on track this year, look beyond Beijing or Shanghai to some of China's smaller cities, where consumers are still upgrading their lifestyles. ✔ But if you look at spending on overseas tourism, which is a good indicator of how wealthy people feel about themselves and how optimistic they are, the number is quite sound ✔ Wang Tao, head of China economic research at UBS AG in Hong Kong, says that although consumption is likely to slow further into 2019, the underlying trend should continue
World stocks slip for third day as trade, emerging market worries bite
9/3/2018, 12:37:41 PMGlobal stock markets fell for a third straight day on Monday, hurt by worries over the escalation of trade disputes between world powers and a deepening sell-off across emerging market currencies. ✔ The Brazilian real weakened more than 1 percent against the U.S. dollar BRL=, while the Iranian rial was reported to have hit a record low against the U.S. currency ✔ Brent crude oil LCOc1 was up 63 cents at $78.27 a barrel ✔ Our Standards:The Thomson Reuters Trust Principles
Trade and emerging market worries keep dollar near one-week high
9/3/2018, 5:13:01 PMThe dollar consolidated near a one-week high against a basket of currencies on Monday as tensions around global trade and a continued selloff in emerging markets fueled demand for the greenback. ✔ Investors are also jittery about emerging markets, many of which are seeing an exodus of capital ✔ Countries such as Argentina and Turkey are already in crisis, with the Argentine peso falling more than 4 percent on the day against the dollar and the Turkish lira losing 2 percent ARS= TRY= ✔ Major FRX YTD performance - reut.rs/2ozDwIU Our Standards:The Thomson Reuters Trust Principles
EU seeks to end long-running row over curbs on US beef
9/3/2018, 5:05:07 PMundefined ✔ But the US has frequently complained it has gained few benefits from the deal, with the quota increasingly used by farmers from other countries, notably Uruguay, Argentina, and Australia ✔ The step also comes ahead of difficult negotiations within the WTO on how the UK and EU should divide up the agricultural import quotas they offer other countries after Brexit
Argentina raises taxes in attempt to stem peso crisis
9/3/2018, 3:44:46 PMundefined ✔ But on Monday Argentina’s president said the crisis was forcing him to implement measures he would prefer to avoid ✔ However, fund managers say that, after a series of mis-steps and a worsening crisis that has burnt many investors who kept faith with the government, markets will need to see tangible evidence and hard commitments before they dip back into the country
Ford may not be the last to terminate a U.S. auto model over Trump's tariffs
9/3/2018, 5:43:44 PMFord Motor Co. is unlikely to be the last to say forget it to a vehicle that doesn’t make financial sense for the U.S. market anymore thanks to President Trump’s trade wars. ✔ That would mean that a lot of models would be withdrawn from the U.S. market ✔ Kumar Galhotra, Ford’s president of North American operations, declined to say whether the move was a reflection of doubt that cooler heads will prevail in the U.S.-China trade war
In Battle for Congress, Rising Economy Doesn’t Lift All Districts
9/3/2018, 5:19:52 PMIn the midterm elections, dozens of at-risk Republican seats are in places vulnerable to new tariffs, cap on deductions for state and local taxes, or weakening jobs picture. The local picture complicates an already tough job for the Republican Party, which is contending with President Trump’s low approval ratings. ✔ A lot of people find some of Mr. Trump’s messaging distasteful, he says, but there are others that I talk to who discount that and feel that the economy is improving, so I’m inclined to believe that the economy is going to be a big boost to Republicans
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