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Trade War - SERIES 224 {17 articles}

US, China trade war could dent economic growth

10/9/2018, 4:38:20 PM
The president said on Tuesday China is “not ready" to make a deal. ✔ The IMF predicts the global economy will grow by 3.7 percent in 2018 and 2019 – a 0.2 percentage point downward revision from previous forecasts ✔ In a press conference at the White House on Tuesday, President Trump said China wants to make a deal and … they’re not ready yet, adding that is a reason his administration has canceled a couple of meetings with Beijing


The Unknowable Fallout of China’s Trade War Nuclear Option

10/9/2018, 5:15:31 PM
China holds more than a trillion dollars in United States debt, and an escalating trade war could tempt it to wield that debt in a way that has long been unthinkable. ✔ Over the weekend, China’s central bank, clearly nervous about a slowdown, pumped $175 billion into the economy by lowering the amount of money that some lenders are required to hold in reserve, allowing that money to circulate freely instead ✔ Politics Hurricane Michael Live Updates: Category 2 Storm Bears Down on Florida Panhandle Life on the Dirtiest Block in San Francisco Opinion: How Do I Explain Justice Kavanaugh to My Daughters


Trump is planning a big change to your gasoline as a boost for one of the states hit hardest by his trade war

10/9/2018, 4:39:35 PM
President Donald Trump is set to visit Council Bluffs, Iowa, on Tuesday. Trump is expected to annouce changes to fuel standards that would increase the use of ethanol, a boost to Iowa corn farmers. The boost appears to attempt to counteract the damage from Trump's trade wars. ✔ He thinks that it's good to have domestically produced energy here and he thinks it will be good for the agriculture industry as well as the economy overall, a senior administration official told reporters Monday ✔ The third district includes Council Bluffs, the site of Trump's Tuesday rally


Fashion and leather goods fuel LVMH sales growth

10/9/2018, 6:14:28 PM
undefined ✔ LVMH revenues totalled €33.1bn in the first nine months of fiscal 2018 ✔ Investors had also been concerned about the impact of the trade war on Chinese consumer demand and the potential effect that recent typhoons in south-east Asia could have on spending in the final month of the quarter


China, US 'independent relationships' for Australia, says Morrison

10/9/2018, 6:34:43 PM
Prime Minister Scott Morrison has told a prominent Chinese business magazine that Australia will seek to work closely with the US and China. ✔ The East Asia Summit and APEC are likely to be Morrison's only opportunity to meet with Chinese president Xi Jinping this year ✔ Former Prime Minister Malcolm Turnbull failed to secure a visit to Beijing this year amid a diplomatic freeze ✔ In fact, we see consolidation of central SOEs to make them less vulnerable to competition


Tech stocks prop up Wall Street amid global growth worries

10/9/2018, 5:10:09 PM
The S&P 500 and the Nasdaq rose for the first time in four days on Tuesday, boos... ✔ Walmart (WMT.N) rose 2.3 percent, the most on the Dow, after Deutsche Bank said the grocer is on track to gain market share through its e-commerce investments ✔ President Donald Trump also repeated a threat to impose tariffs on $267 billion worth of additional Chinese imports if Beijing retaliates to Washington’s recent levies ✔ Our Standards:The Thomson Reuters Trust Principles


Wall St. edges lower as tech rally fades, global growth woes weigh

10/9/2018, 6:11:57 PM
U.S. stocks edged lower on Tuesday after the International Monetary Fund said th... ✔ At 1:32 p.m. ET the Dow Jones Industrial Average .DJI was down 23.93 points, or 0.09 percent, at 26,462.85, the S&P 500 .SPX was down 2.25 points, or 0.08 percent, at 2,882.18 and the Nasdaq Composite .IXIC was up 5.62 points, or 0.07 percent, at 7,741.57


Trump to lift summer ban on higher-ethanol gasoline ahead of elections

10/9/2018, 5:55:44 PM
U.S. President Donald Trump on Tuesday plans to lift a ban on summer sales of hi... ✔ Council Bluffs is in a moderate congressional district represented by incumbent Republican Dave Young, who is locked in a tight race in the mid-term Congressional elections on Nov. 6 ✔ The American Petroleum Institute, the largest U.S. oil trade association, opposes lifting the ban, which would hurt their market share ✔ Our Standards:The Thomson Reuters Trust Principles


Bank Earnings: Expect Big Profits, But Buyer Beware

10/9/2018, 4:03:39 PM
Big U.S. banks are set to report record postcrisis profits for the third quarter. But underneath the blockbuster numbers are reasons for caution. ✔ Wells Fargo is one of the three big U.S. banks set to report third-quarter earnings Friday ✔ But underneath the blockbuster numbers are reasons for caution ✔ Banks generally benefit as interest rates rise because they can charge more on loansbut that impact is muted if fewer borrowers take out new loans


Wall St. stalls as global worries trounce materials stocks

10/9/2018, 7:25:05 PM
Wall Street's major indexes failed to make much progress on Tuesday as inve... ✔ At 3:03PM ET, the Dow Jones Industrial Average .DJI was up 12.84 points, or 0.05 percent, to 26,499.62, the S&P 500 .SPX gained 2.97 points, or 0.10 percent, to 2,887.4 and the Nasdaq Composite .IXIC added 20.68 points, or 0.27 percent, to 7,756.63


Vuitton propels LVMH growth in boost for luxury sector

10/9/2018, 6:21:47 PM
A standout performance by LVMH's fashion and handbags business boosted thir... ✔ All in all, this was another strong quarter from LVMH, RBC Capital Markets analyst Rogerio Fujimori said in a note ✔ Other bright spots included wine and spirits, where revenue growth accelerated from one quarter to the next, though momentum in perfumes and cosmetics slowed, despite the launch of a new Dior fragrance, Joy ✔ Our Standards:The Thomson Reuters Trust Principles


Tesla Worried By China Tariffs Even As Deliveries Surge

10/9/2018, 6:13:04 PM
Tesla Inc. announced record quarterly car production numbers on Tuesday but warned of major problems with selling cars in China due to new tariffs that would force it to accelerate investment in its factory in Shanghai. ✔ Tesla said it was speeding up construction of its Shanghai giga factory to combat a huge competitive disadvantage against other producers and even other imported cars, which carry a lower 15 percent tariff ✔ Reuters Reporting by Akanksha Rana and Arjun Panchadar in Bengaluru; Editing by Saumyadeb Chakrabarty and Arun Koyyur A Tesla sales and service center is shown in Costa Mesa, California, June 28, 2018


Spiking bond yields have become a nightmare for stocks — and Bank of America has found the threshold where traders should dump equities altogether

10/9/2018, 5:04:34 PM
BI PRIME: Spiking bond yields have put major pressure on stocks over the past few days. Bank of America Merrill Lynch has run an analysis and pinpointed the threshold where 10-year Treasury yields should make traders reconsider their allocations to stocks. ✔ When should you flee stocks entirely, to avoid the inevitable selling pressure ✔ Bank of America Merrill Lynch has run some analysis that should shed some light on the matter ✔ To read the full article, simply click here to claim your deal and get access to all exclusive Business Insider PRIME content


DealBook Briefing: Google’s Turn for a Data Scandal

10/9/2018, 7:05:53 PM
The tech company decided not to go public about a vulnerability that exposed user data. That may have been a bad idea. ✔ But it’s hard to catch this kind of fraud: Less than 5 percent of imports into the U.S. are physically inspected, and American officials say China doesn’t always cooperate ✔ Life on the Dirtiest Block in San Francisco The Unknowable Fallout of China’s Trade War Nuclear Option


He’s Atop the Ballot, Yet Virtually Broke. And G.O.P. Donors Are Not Coming to the Rescue.

10/9/2018, 7:49:34 PM
Republican contributors have shifted focus to New York Senate races, and away from their candidate for governor, Marcus Molinaro, who has $210,000 cash in hand. ✔ Long Island is definitely the battleground, said Steve Bellone, a Democrat and the Suffolk County executive, naming as many as five up-for-grabs seats ✔ In another statewide race, Keith Wofford, the Republican candidate for attorney general and a former partner in the law firm Ropes & Gray, has raised nearly $1.8 million this year, including a $50,000 personal loan ✔ Politics The Unknowable Fallout of China’s Trade War Nuclear Option


Here’s what Trump’s ethanol plan means for farmers, refiners and motorists

10/9/2018, 6:10:44 PM
President Donald Trump’s plans to allow the sale of a higher concentration of ethanol in gasoline throughout the year would appease U.S. corn farmers who have been stung by low corn prices and the U.S.-China trade dispute and likely even lead to lower prices at the pump. Some refiners and older car engines, however, may pay the price. ✔ Refiners could lose share in the gasoline market, Milne said ✔ Farmers For corn farmers, analysts said the move could certainly benefit prices ✔ Subscribe to MarketWatch's free Need to Know newsletter ✔ Saefong Myra Saefong is a MarketWatch reporter based in San Francisco ✔ We Want to Hear from You Join the conversation Comment


Beto O’Rourke May Benefit From an Unlikely Support Group: White Evangelical Women

10/9/2018, 6:53:04 PM
In the Texas race, any small shift among evangelical voters could be a significant loss for Senator Ted Cruz — and a signal to Democrats. ✔ Unlike many other Democratic candidates ahead of the midterm election, Mr. O’Rourke is doing strategic, if limited, outreach to white evangelicals, especially women ✔ Life on the Dirtiest Block in San Francisco The Unknowable Fallout of China’s Trade War Nuclear Option Deadly Limo Crash: Vehicle ‘Was Not Supposed to Be on the Road’


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