Jack Ma warns US-China trade war would 'hurt everybody'
10/2/2018, 11:55:07 AMGENEVA (AP) — Alibaba founder Jack Ma says the trade dispute between the U.S. and China could "unfortunately" last 20 years. However, he expressed hope a solution co ✔ The Chinese e-commerce billionaire also questioned the focus among some on trade deficits, calling it a relic of the 20th century ✔ U.S. President Donald Trump has long derided the U.S.'s whopping deficit with China ✔ Ma said the business community should stand up and say: 'We don't need a war, we need business.'
Jack Ma says US-China trade war could last 20 years
10/2/2018, 12:45:46 PMGENEVA (AP) — Alibaba founder Jack Ma said Tuesday that the trade dispute between the U.S. and China could last 20 years. But he expressed hope that a solution could be reached as ✔ Alibaba Group is the world's biggest e-commerce company by value of the goods that pass across its platforms ✔ That adds to pressure on an economy that already was forecast to cool due to slowing global consumer demand and lending controls imposed to rein in a debt boom
US TRADE WAR: 'Total attention' now on China as 'BATTLE LINES harden'
10/2/2018, 3:27:11 PMTHE United States can now turn its “total attention” to China after securing the new United States-Mexico-Canada Agreement (USMCA) trade deal. Experts fear tensions between Washington and Beijing could rise further now that US Trade Representative Robert Lighthizer is “in a much better position to focus on China all day and night long”. ✔ Xi Jinping and Donald Trump shake hands during a news conference in Beijing in November 2017 (Image: GETTY) Now he is in a much better position to focus on China all day and night long Deborah Elms, Executive Director at the Asian Trade Centre AdMacro strategist Patrick Perrett-Green said Washington now can focus all its ire on China as he added that the battle lines continue to harden
China’s yuan strengthens as reserve currency despite trade war while US dollar weakens
10/2/2018, 1:52:31 PMThe Chinese yuan has strengthened its position among global reserve currencies, rising to 1.84 percent in the second quarter of the year, according to the International Monetary Fund. ✔ The US dollar has strengthened more than 10 percent against the yuan since April ✔ Instead, China’s central bank is setting a daily trading range ✔ I have to tell you, it puts us at a disadvantage, Trump said in July ✔ For more stories on economy & finance visit RT's business section Trends: US dollar news
Goldman: Buy stocks like Adobe and VMware to ride out a trade war with China
10/2/2018, 2:48:10 PMGoldman Sachs says companies with strong and sustainable profit margins can rise even if the trade war with China escalates. ✔ Tariffs threaten corporate earnings through higher costs and lower margins, Goldman's chief U.S. equity strategist David Kostin said in a report to clients entitled Stocks with high and stable margins have pricing power to withstand rising input costs from tariffs Friday
Tesla ramps up production in Shanghai as Chinese tariffs hit costs
10/2/2018, 2:18:31 PMTesla reported encouraging production figures for its third quarter but said the trade war between the US and China was hitting costs. ✔ It produced over 5,300 Model 3 cars in the last week of September, falling short of its target of 6,000 ✔ Gartner automotive analyst Michael Ramsay said the rush of production to appease Wall Street had just increased its problems ✔ The volume of vehicles is so large at storage sites it is challenging their final delivery logistics
Tesla says it's getting slammed in China because of tariffs
10/2/2018, 1:23:16 PMThe trade war between the United States and China is battering Tesla's competitiveness, the company said when it released its third-quarter vehicle production numbers Tuesday. ✔ Those trade tensions have resulted in an import tariff rate of 40% on Tesla vehicles versus 15% for other imported cars in China ✔ To address this issue, we are accelerating construction of our Shanghai factory, which we expect to be a capital efficient and rapid buildout, using many lessons learned from the Model 3 ramp in North America ✔ Shares of Tesla rose 1.6 percent in premarket trading from yesterday's close of $310.70 a share
An under-the-radar provision in the US, Mexico, Canada trade deal looks like a direct shot at China
10/2/2018, 12:50:35 PMThe new US-Mexico-Canada Agreement (USMCA) includes a small provision that would give the US power to effectively block Mexico and Canada from agreeing to a trade deal with China. The moves shows how President Donald Trump is taking the US-China trade war to the next level. ✔ Entry by any Party into a free trade agreement with a non-market country, shall allow the other Parties to terminate this Agreement on six-month notice and replace this Agreement with an agreement as between them (bilateral agreement), the text reads
How Trade Wars Affect Corporate Performance
10/2/2018, 3:47:13 PMA company’s supply chain and international options will be critical. ✔ But there would be negative spill-over effects for companies who use steel as raw material ✔ For example, Caterpillar (CAT), General Motors Co. (GM), and Harley-Davidson (HOG) – all heavy buyers of steel – say tariffs are cutting into their profits and forcing them to raise prices ✔ Consumers will find substitutes unless the brand loyalty is high
Dow Drops 76 Points as One Fear Enters When Another Concern Leaves
10/2/2018, 11:52:17 AMA trade deal with Canada helped the blue-chip benchmark gain on Monday, but concerns about Italy are blamed for a downturn on Tuesday. ✔ S&P 500 futures have declined 0.2%, while Dow Jones Industrial Average futures have fallen 76 points, or 0.3% ✔ Such a development will only add further pressure on Italian assets and send bond yields to new highs, which doesn’t bode well for the euro, writes Konstantinos Anthis , head of research at ADSS
Canadian housing agency says it can withstand market shocks
10/2/2018, 1:43:02 PMCanada's federal housing agency said on Tuesday it is well capitalized and ... ✔ The 2018 stress test confirmed CMHC’s mortgage loan insurance and securitization business had enough capital to withstand the impact of scenarios which also included a household debt crisis and the eruption of a volcano ✔ In all cases, this year’s stress testing shows we are well capitalized to handle these very severe situations, CMHC’s Chief Risk Officer Steven Mennill said in a statement ✔ Our Standards:The Thomson Reuters Trust Principles
Analysis | A new survey shows that the Republican Party is not the party of Trump
10/2/2018, 12:14:16 PMIn fact, many Republican voters disagree with him on key issues. ✔ President Trump discusses the U.S.-Mexico-Canada Agreement at the White House on Monday, Oct. 1, 2018 ✔ As with NAFTA, a slight majority 54 percent of non-Trump Republicans favor U.S. participation in CPTPP while 39 percent oppose it ✔ They point to Trump’s siding with President Putin over U.S. intelligence agencies on Russian election interference; the unpopular policy of separating migrant children from their parents; and a lack of appropriate sympathy after the death of Sen
US trades barbs with China after warships nearly collide
10/2/2018, 2:28:57 PMChinese vessel's movements in South China Sea were 'unsafe': Navy official ✔ The U.S. has been repeatedly sending warships to the islands and the adjacent waters in the South China Sea, which has seriously threatened China's sovereignty and safety, ministry spokesman Wu Qian said ✔ Trump has dangled the threat of an additional $267 billion worth of levies against Chinese goods, as he has previously said, but sent mixed messages about whether the U.S. was ready to go back to talks
Hong Kong stocks sink most in four weeks on PMIs, rate fears
10/2/2018, 9:33:03 AMCasino operators tumble after Macau gaming revenue lags some expectations ✔ Hang Seng Index heavyweight Tencent Holdings fell 1.9% ✔ Genscript shares fell as much as 47% at one point on Thursday after Flaming published a report with allegations related to the company's clinical data disclosure, innovation process and intellectual property protection ✔ People's Insurance Group of China rose 2% after saying the China Securities Regulatory Commission approved its proposed A-share offering
Tesla misses weekly Model 3 production target, flags tariff costs
10/2/2018, 1:33:16 PMTesla Inc missed its weekly Model 3 production target on Tuesday and said it was... ✔ The Model 3 sedan is key to the money-losing company’s growth and profit plans and underpins its goal of eventually becoming a mass-production automaker ✔ With production stabilized, delivery and outbound vehicle logistics were our main challenges during Q3, the company said in a statement ✔ Our Standards:The Thomson Reuters Trust Principles
Trump just helped stocks clear an important hurdle, long-time bull Art Hogan says
10/2/2018, 12:09:22 PMB. Riley FBR's Art Hogan expects the market to embark on a record-breaking year-end rally. ✔ has been trade, Hogan said Monday on CNBC's Trading Nation ✔ If all goes as planned, Hogan expects the S&P to gain another 2.5 percent before the new year ✔ The market just cleared a major hurdle and it points to big gains, veteran market watcher Art Hogan says 15 Hours Ago | 05:55 Disclaimer
There'll be 'blood on the streets' until China and the US reach trade deal, Mark Mobius says
10/2/2018, 9:53:28 AMExpect much confrontation between China and the United States until they reach an agreement on trade, noted investor Mark Mobius told CNBC on Tuesday. ✔ Trade negotiators from both sides have met on several occasions this year, but so far the talks have failed to reach any clear outcome ✔ We hope this will also now pave the way to stop the start of trade embargos or activities that are going on, he told CNBC
World War 3 fears: Chinese warship nearly COLLIDES with US destroyer in South China Sea
10/2/2018, 12:28:08 PMA CHINESE WARSHIP nearly collided with a US destroyer in an “unsafe and unprofessional encounter”, forcing the US vessel to change course in the contested waters of the South China Sea, a US official has said. ✔ A Chinese warship has nearly collided with a US destroyer during an unsafe encounter (Image: Getty) The USS Decatur was sailing past the Gaven and Johnson reefs in the disputed Spratly Islands, which China has laid claim to, when tensions mounted ✔ China claims nearly all of the South China Sea, but Taiwan, the Philippines, Brunei, Malaysia and Vietnam all claim parts of it
Tesla sharply accelerates production but China tariffs bite
10/2/2018, 1:42:37 PMundefined ✔ To help offset these costs, Tesla said it would accelerate construction of its Shanghai factory ✔ Investors have had a tumultuous few days, after chief executive Elon Musk agreed to step down as chairman of the company in a settlement with regulators over securities fraud allegations ✔ It said it planned to make further improvements in order to scale better and begin international deliveries
Nikkei Asia300 drops as Hong Kong stocks hit after China PMI
10/2/2018, 12:57:20 PMTencent slips after restructuring plan while casinos fall after Macau gaming data ✔ A print below 50 indicates a contraction in factory activity and one above signals expansion ✔ The official manufacturing PMI also declined, to 50.8 from 51.3 in August ✔ The focus will now turn to the ongoing Sino-American trade tensions ✔ Indian financial markets were closed on Tuesday for a local holiday
Poll: Half of young Americans see better financial future
10/2/2018, 12:13:24 PMAbout half of young Americans expect to be financially better off than their parents, according to a new poll, a sign that the dream of upward mobility is alive but somewhat tempered. ✔ About half of young Americans expect to be financially better off than their parents, according to a new poll, a sign that the dream of upward mobility is alive but somewhat tempered ✔ Narvaez is less certain about the prospects of the U.S. economy, particularly as the nation appears to be marching into a trade war with China
Tesla worried by China even as deliveries surge
10/2/2018, 2:09:32 PMTesla Inc announced record quarterly car production numbers on Tuesday but warne... ✔ Tesla is now operating at a 55 percent to 60 percent cost disadvantage compared to the exact same car locally produced in China, the company said ✔ We made many improvements to these processes throughout the quarter, and plan to make further improvements in Q4 so that we can scale successfully ✔ Our Standards:The Thomson Reuters Trust Principles
Singapore shares fall as home prices growth slows, Malaysia gains
10/2/2018, 12:28:21 PMInvestors' attention returns to Sino-American trade conflict after Canada deal ✔ In Singapore, flash estimates showed private home prices rising 0.5%, its slowest pace in more than a year, according to Urban Redevelopment Authority ✔ Yong Tai dropped 7.7% amid analysts' concern that that the Impression Melaka theatre operator has halved its forecast for annual ticket sales due to a slump in tourist arrivals from China
BlackRock sees an opportunity in emerging markets for the fourth quarter
10/2/2018, 11:14:55 AMBlackRock strategists favor U.S. stocks but see opportunities in emerging markets as the final quarter of the year begins. ✔ Carl De Souza | AFP | Getty Images A protestor waves the Brazilian national flag outside the Duque de Caxias refinery in metropolitan Rio de Janeiro, Brazil, on May 28, 2018, where soldiers have been deployed to guarantee the safe transport of fuel for essential services ✔ What our analysis shows is the direct impact of those tariffs is relatively limited on the economy
GE Jumps, Stitch Fix Slumps as Dow Slips
10/2/2018, 1:13:35 PMConcerns about Italy’s budget has caused stocks to slip Tuesday morning. ✔ For now, investors are focused on the blowout in the spread between German and Italian 10yr yields and the assumption among investors and policymakers is the wider the spread goes, the more likely that a budget that appeases the EU gets passed, he explains
Toyota’s rethink on China reflects new realities
10/2/2018, 2:21:47 PMundefined ✔ They are also open to other technologies including hydrogen-powered vehicles to meet their environmental needs ✔ If Japan is serious about reviving itself as a centre of innovation, it needs to move much faster or others will be turning to China to test and deliver their cutting-edge technologies
Why stocks may not rise in the third year of President Trump’s term
10/2/2018, 12:32:01 PMThe historically strong period might not pan out this time around. ✔ Chan and Marsh find strong support for their theory in the that was created several years ago by three finance professors: Scott Baker of Northwestern University, Nick Bloom of Stanford University and Steven Davis of the University of Chicago ✔ We Want to Hear from You Join the conversation Comment
World stocks slip as trade relief fades, amid Italy concerns
10/2/2018, 1:02:51 PMSINGAPORE (AP) — Global markets slipped Tuesday as investors took stock of the standstill in U.S. trade negotiations with China, despite a fresh deal on North American trade. In E ✔ SINGAPORE (AP) Global markets slipped Tuesday as investors took stock of the standstill in U.S. trade negotiations with China, despite a fresh deal on North American trade ✔ Nonetheless, a protracted trade war with China is still expected given both sides have little appetite for further negotiation at this juncture, she added
World stocks fall as relief over US-Canada deal fades
10/2/2018, 10:13:55 AMSINGAPORE (AP) — World markets declined Tuesday as investors took stock of the standstill in U.S. trade negotiations with China, despite a fresh deal on North American trade. ✔ SINGAPORE (AP) World markets declined Tuesday as investors took stock of the standstill in U.S. trade negotiations with China, despite a fresh deal on North American trade ✔ The broader S&P 500 futures was down 0.4 percent at 2,919.70 ✔ ASIA'S DAY: Hong Kong's Hang Seng tumbled 2.4 percent to 27,126.38
/cdn.vox-cdn.com/uploads/chorus_image/image/61618823/jbareham_180213_2301_0080.0.jpg)
Tesla’s breakneck pace produced more than 53,000 Model 3s this quarter
10/2/2018, 1:58:46 PM"Delivery logistics hell" remains an issue ✔ (Musk said in a company email over the weekend that Tesla was very close to achieving profitability, and he’s promised the company will maintain a profit going forward.) Whatever the financial numbers end up looking like, it’s clear that scaling the pace of deliveries with increased production will be an important task for the company going forward
>>> Open This Series
Comments
Post a Comment