Chinese developers slash prices as economic outlook dims
10/9/2018, 12:33:42 PMInvestors dump shares as trade war with US bites ✔ Currently, people are very pessimistic on China's economic outlook ✔ Last week, People's Bank of China cut reserve requirement ratios for most commercial banks, freeing up more than $100 billion of capital ✔ If the impact of the trade war worsens, the property sector remains one of the best ways to absorb job losses in the manufacturing and export sectors
Jaguar Land Rover to shut its Solihull plant for two weeks as Chinese sales slump
10/9/2018, 1:15:13 PMBritain's biggest carmaker Jaguar Land Rover will close its Solihull plant for two weeks later this month after it reported a nearly 50 percent fall in sales to China as import duties and a trade war with the U.S. hurt demand. ✔ About 45 percent of the firm's sales are diesel models, which have been hit by clampdowns and tax rises in some countries as governments try to cut air pollution ✔ It has also warned about the impact of any Brexit-related loss of free and unfettered trade with the European Union
China is buying fewer cars. GM and VW are feeling the pain
10/9/2018, 2:29:14 PMA slump in sales in China, the world's biggest auto market, is causing big problems for top global brands that have come to rely on it for much of their growth. ✔ Foreign brands in the firing line Foreign brands appear to be bearing the brunt of the slump ✔ As the Chinese market matures, carmakers are becoming more reliant on selling less profitable cars to thriftier consumers beyond big, rich cities like Shanghai and Beijing
Host Indonesia hopes IMF-World Bank meetings will warn against...
10/9/2018, 2:39:26 PMEconomic policymakers gathering in Indonesia for this week's annual meeting... ✔ While so many countries shared common fears, Indrawati said it was difficult to forge cooperation to counter the risks ✔ It’s not really clear how the world is going to coordinate more effectively, especially when each country has their own domestic issues, she said ✔ Our Standards:The Thomson Reuters Trust Principles
Stock futures pressured by global growth concerns
10/9/2018, 12:08:31 PMU.S. stock index futures fell on Tuesday, following European and Asian weakness,... ✔ Shares of the so-called FAANGs Facebook (FB.O), Amazon (AMZN.O), Apple (AAPL.O), Netflix (NFLX.O) and Alphabet (GOOGL.O) were down between 0.39 percent and 0.67 percent in trading before the bell ✔ At 7:34 a.m. ET, Dow e-minis 1YMc1 were down 155 points, or 0.58 percent ✔ Our Standards:The Thomson Reuters Trust Principles
Trump repeats threat of more tariffs if China retaliates on trade
10/9/2018, 3:22:30 PMPresident Donald Trump on Tuesday repeated his threat to impose tariffs on $267 ... ✔ U.S. President Donald Trump returns from Florida to the South Lawn of the White House in Washington, U.S. October 8, 2018 ✔ REUTERS/Jonathan Ernst Trump, speaking to reporters in the Oval Office, also said China is not ready yet to reach a deal on trade and that a couple of meetings with the country have been canceled ✔ Our Standards:The Thomson Reuters Trust Principles
Asian stocks slip amid weakness in technology sector
10/9/2018, 12:33:44 PMHTC slides after September sales plunge while TSMC edges higher ✔ HONG KONG (Nikkei Markets) -- Asian stocks outside of Japan declined Tuesday, as renewed weakness in technology stocks eroded early gains triggered by apparent bargain hunting after recent losses ✔ Tencent Holdings, an index heavyweight and one of Asia's most valuable companies, slid 1.7% in Hong Kong, falling for an eighth consecutive day
IMF downgrades outlook for world economy to 3.7 pct. growth
10/9/2018, 12:18:04 PMThe International Monetary Fund is downgrading its outlook for the world economy, citing rising interest rates and growing tensions over trade. ✔ Image 1 of 2 ▼ FILE - In this May 8, 2018 file photo, a man walks by a money exchange house in downtown Buenos Aires, Argentina ✔ The IMF expects the U.S. economy to grow 2.9 percent this year, the fastest pace since 2005 and unchanged from the July forecast
Tech rebound props up Wall Street, but global growth concerns weigh
10/9/2018, 2:54:11 PMThe S&P 500 and the Nasdaq rose on Tuesday, boosted by a rebound in technology s... ✔ Alphabet continued its losses from Monday when it said it would shut down its social network Google+ and tighten its data sharing policies after finding that private profile data of at least 500,000 users may have been exposed to hundreds of external developers
Trump moves to allow more ethanol in gas with E15 available year-round
10/9/2018, 12:20:45 PMPresident Donald Trump directed the Environmental Protection Agency to begin rule-making on year-round use of gasoline with 15 percent ethanol or E15. ✔ President Donald Trump and the leaders of Mexico and Canada are touting a new trade agreement they're calling USMCA that would benefit workers across North America ✔ While farmers backed the president in the 2016 election, many are weary about his approach to trade
China appears to blink in trade confrontation with the US
10/9/2018, 1:03:11 PMChina's central bank appears worried that the trade friction with the US is starting to hurt China's economy. ✔ The renminbi has depreciated by nearly 10 per cent against the US dollar since the start of the year and China’s sharemarket has fallen about 15 per cent In recent weeks, there have been signs that the US actions are starting to have their own impact, with new export orders falling away sharply last month as manufacturing sector activity slowed
Analysis | The Finance 202: Trump's economy means soaring deficits, too
10/9/2018, 12:13:22 PMIt's not all good news. ✔ Foreign Minister Wang Yi on Monday clashed in Beijing with visiting Secretary of State Mike Pompeo, accusing the United States of ‘constantly escalating trade friction toward China.’ U.S. worries about Chinese currency ✔ #TNYcartoons A post shared by The New Yorker Cartoons (@newyorkercartoons) on Oct 6, 2018 at 8:36am PDT BULL SESSION Republicans stoke image and fear of Democratic mob: Kids explain trade deals using Halloween candy: Late-night laughs: Kavanaugh confirmation:
Analysis | The Daily 202: Kanye West coming to White House, after Trump disses Taylor Swift, underscores celebrification of politics
10/9/2018, 1:49:13 PMThe Clintons, the Bushes and Hope Hicks show how politicians are becoming more like entertainers. ✔ You need to prove it.’ … Erdogan’s comments were his most direct suggestion yet of potential Saudi culpability in Khashoggi’s disappearance ✔ Parsons said four contributions were returned[.] VIDEOS OF THE DAY: Late-night hosts reacted to Kavanaugh’s confirmation: Jimmy Kimmel compared Melania Trump’s public appearances in the United States to her Africa trip: The first lady expressed dismay over the focus on her wardrobe after she was criticized for wearing a colonial-era pith helmet in Kenya: An anti-Ted Cruz group is running an ad with an actor mocking the Republican senator's slogan, Tough as Texas: And The Post asked children to explain tariffs using Halloween candy:
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