How the trade war could make China even stronger
10/4/2018, 2:11:44 PMThe US-China trade war is encouraging Chinese companies and government officials to speed up changes that could make the economy more competitive. ✔ MUST WATCH Hong Kong (CNN Business)At a machinery firm near Shanghai, China's sprawling business capital, engineers rely on the United States for parts they need to make precision measuring equipment for automakers and other industries ✔ The trade war will definitely accelerate these kinds of reforms ✔ MUST WATCH Can Xiaomi survive a trade war ✔ Julia Horowitz, Serenitie Wang and Joseph Kleinhenz contributed to this report
‘Trump won’t back down’ in China trade war, Steve Bannon says
10/4/2018, 3:00:05 PMPresident Trump plans to make the trade war with China “unprecedentedly large” and “unbearably painful” for Beijing, according to former White House chief strategist Steve Bannon. ✔ They never envisioned that somebody would actually do this ✔ He and Mr. Trump have a complex relationship and parted ways last year after the president criticized him for his role in a tell-all book about the White House ✔ According to media reports, they have since mended fences with Mr. Bannon saying that they see eye to eye on trade
JP Morgan downgrades China stocks, predicts 'full-blown trade war' with US
10/4/2018, 2:24:25 PMJ.P. Morgan is getting less optimistic about the trade conflict between the U.S. and China. The firm lowered its rating for Chinese equities, predicting the escalating trade war between the countries will affect China's economy next year. ✔ Tomohiro Ohsumi | Bloomberg | Getty Images A paramilitary police officer stands guard in front of red flags at Tiananmen Square in Beijing, China ✔ The White House's latest tariffs of 10 percent on $200 billion of imports from China took effect last week ✔ CNBC's Michael Bloom contributed to this story
Trump US trade war: How will the 'largest economic war in HISTORY' affect other countries?
10/4/2018, 2:46:57 PMEXCLUSIVE: China has accused the US of launching the ‘largest economic war in history’ after Donald Trump newly imposed tariffs on an additional $200 billion worth of goods. How will the trade war affect other countries? ✔ But China is not the only country Trump keeps charging for exporting goods to the US ✔ Historically it has been seen that the Chinese reiterate the US trade restriction with an aggressive monetary policy such as devaluation of yuan ✔ The conflict will eventually lead to global economic instability due to a trade war started by a tweet
Tariffs for the 1%: Fur coats, fancy handbags and other luxury goods hit by trade war with China
10/4/2018, 1:12:10 PMHigh-end shoppers can afford more—but not that much more, retailers say. ✔ Michael Kors, KORS, +3.00% J. Crew, Derek Lam, Narciso Rodriguez and dozens of other well-known labels signed a separate letter opposing tariffs that the American Apparel & Footwear Association submitted to the U.S. Trade Representative ✔ We Want to Hear from You Join the conversation Comment
‘When trade stops, sometimes war starts’ – Jack Ma
10/4/2018, 2:17:46 PMThe tit-for-tat exchanges between the world’s two largest economies, China and the US, may lead to a possible military conflict, according to Alibaba founder Jack Ma. He has warned that a trade war would “hurt everybody.” ✔ The businessman expressed confidence that Beijing and Washington should work together to solve this challenge, create more jobs, cure poverty, use technology to solve disease and the environment – instead of this kind of war ✔ The billionaire repeated his previous suggestion that the stand-off may last 20 years
U.S. Vice President Pence says China interfering in U.S. politics
10/4/2018, 3:49:37 PMVice President Mike Pence escalated Washington's pressure campaign against ... ✔ Neither Trump nor Pence provided hard evidence of Chinese meddling ✔ It goes beyond the bitter trade war between the world’s two biggest economies and includes disputes such as cyber activities, Taiwan and the South China Sea ✔ Our Standards:The Thomson Reuters Trust Principles
More than 1,200 law professors oppose Kavanaugh confirmation in letter | Pence to step up criticism of China in speech
10/4/2018, 1:24:13 PMMore than 1,200 law professors have signed onto a letter saying that Supreme Court nominee Brett Kavanaugh displayed a lack of judicial restraint at a Senate hearing last week — behavior that would be disqualifying for any court nominee. ✔ Last week, Trump accused China of meddling in the midterm elections, saying it was retaliation for his imposition of tariffs ✔ Robert Schroeder Robert Schroeder is the White House reporter for MarketWatch ✔ We Want to Hear from You Join the conversation Comment
U.S. August factory orders post largest gain in 11 months
10/4/2018, 2:13:29 PMNew orders for U.S.-made goods recorded their biggest increase in nearly a year ... ✔ Orders for defense aircraft and parts soared 17.0 percent in August ✔ (Reporting by Lucia Mutikani; Editing by Andrea Ricci) ((Lucia.Mutikani@thomsonreuters.com; 1 202 898 8315; Reuters Messaging: lucia.mutikani.thomsonreuters.com@reuters.net)) Our Standards:The Thomson Reuters Trust Principles
World War 3: US warns China 'we will NOT be INTIMIDATED' over naval dispute
10/4/2018, 2:47:06 PMUS VICE-PRESIDENT Mike Pence will warn the United States will not back down against China's intimidatory tactics in the South China Sea as relations hit breaking point. ✔ Tensions between the two superpowers are high, with Donald Trump launching billion-dollar tariffs and sanctions against China, sparking a trade war ✔ US Vice President Mike Pence warns China Washington won't be intimidated in South China Sea row (Image: Facebook) China's Defence Ministry said a Chinese naval ship had been sent to warn the US vessel to leave
World War 3: US Navy's secret mission in South China Sea show of FORCE to scare China
10/4/2018, 2:17:35 PMDONALD Trump is flexing his muscles in the Pacific, with his defence ministry drawing up a series of military exercises expected to be seen by China as a provocation, as tensions escalate between Beijing and Washington. ✔ The US Navy drafted a plan recommending the US Pacific Fleet to conduct a series of operations near China’s territorial waters, several US defence officials revealed ✔ Xi Jinping and Donald Trump (Image: GETTY) Tensions in the South China Sea reached a new high earlier this week, when a Chinese warship nearly collided with a US destroyer
US and China are at risk of a '10- or 20-year' economic cold war, former Fed governor Warsh says
10/4/2018, 2:38:12 PM"Five or 10 years from now we might see two poles: a Chinese-centric world and an American-centric world," says Kevin Warsh. ✔ And the [other global] economies and countries will have to plug into one or both, he said ✔ China has certainly been moving towards a more consumer-led economy and away from state-funded stimulus for growth ✔ Bush administration and in the mergers and acquisitions department at Morgan Stanley
$15 minimum wage: Calls mount to make Amazon's move the industry standard
10/4/2018, 1:19:52 PMPressure is on Walmart, McDonald's and many others as the resurgent workers-rights movement gains ground ✔ Roughly 20 workers were arrested outside a McDonald's in Detroit on Tuesday, followed by another 23 arrests Wednesday in Milwaukee, where about 100 demonstrators massed in front of a McDonald's, which closed its doors and eventually its drive-through service, according to the Milwaukee Journal Sentinel
European stocks slide as rising bond yields buffett equity benchmarks
10/4/2018, 2:49:03 PMEuropean stocks were trading weaker on Thursday, tracking losses for global stocks as bond yields climbed in the U.S. and in Europe. ✔ Read: Tariffs for the 1%: Fur coats, fancy handbags and other luxury goods hit by trade war with China A renewed focus on the U.S. administration’s trade spat with China was also putting some investors on edge ✔ We Want to Hear from You Join the conversation Comment
U.S. weekly jobless claims near 49-year low; factory orders surge
10/4/2018, 2:54:01 PMThe number of Americans filing for unemployment benefits fell to a near 49-year ... ✔ FACTORY ORDERS REBOUND In a separate report on Thursday, the Commerce Department said new orders for U.S.-made goods recorded their biggest increase in nearly a year in August, but signs of weakness in business spending on equipment suggested manufacturing could be slowing
China put spy microchips in servers used by Amazon and Apple, report says - Los Angeles Times
10/4/2018, 2:49:15 PMChina secretly put surveillance microchips in servers used by major technology firms, including Apple and Amazon, in an audacious military operation likely to further inflame trade tensions between the U.S. and its top source of electronics components and products, Bloomberg Businessweek reported. ✔ American companies design and sell leading technology products, such as servers, laptop computers and smartphones, which built and assembled largely in China ✔ It's also untrue that AWS knew about servers containing malicious chips or modifications in data centers based in China, or that AWS worked with the FBI to investigate or provide data about malicious hardware
China inserted surveillance microchip in servers used by Amazon, Apple, according to report
10/4/2018, 1:54:05 PMBut the Chinese government, Apple, Amazon and other involved companies dispute the report. ✔ U.S. officials long have worried about the potential for altered microchips or other components to be secretly inserted into products and shipped to the United States and elsewhere, opening doors to long-term spying on computer users and their information networks
Analysis | The Finance 202: Bernie Sanders's bank-busting plan sets marker for 2020
10/4/2018, 12:22:45 PMThe political season will bring the financial industry more hostile attention. ✔ Bloomberg Businessweek's new cover story details how Chinese spies reached into almost 30 American companies by compromising the U.S. tech supply chain ✔ Politico's John Bresnahan, Elana Schor and Burgess Everett ✔ Presidential alert interrupts José Andrés: Kanye West wants people to leave Elon Musk alone:
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