Chinese finance ministry official says 'optimistic' on trade war...
10/10/2018, 10:32:07 AMA Chinese finance ministry official said on Wednesday he felt "a little bit... ✔ REUTERS/Jason Lee/File Photo An escalating tariff war between the world’s two largest economies has set world markets on edge and cast a cloud over global economic growth ✔ REUTERS/Aly Song/File Photo China wants to make a deal, and I say they’re not ready yet, Trump said ✔ And we’ve canceled a couple of meetings because I say they’re not ready to make a deal ✔ Our Standards:The Thomson Reuters Trust Principles
ADB chief says trade war has yet to hurt Asia
10/10/2018, 10:07:58 AMBut escalation could have 'dire impact' on supply chains, warns Nakao ✔ The trade dispute is not as damaging right away, Nakao told the Nikkei Asian Review on the sidelines of the International Monetary Fund-World Bank meetings being held in Nusa Dua on the Indonesian island of Bali ✔ The shift of the China economic model into more domestic demand will have a spillover to the region, she said ✔ We should understand why this is happening, Nakao said
Chinese Finance Ministry Official Says 'Optimistic' On Trade War Breakthrough
10/10/2018, 11:35:33 AMA Chinese finance ministry official said on Wednesday he felt "a little bit more optimistic" on the prospect of breaking an impasse in trade negotiations with Washington, saying both sides are too economically integrated to tolerate a fallout. ✔ On Monday, U.S. Secretary of State Mike Pompeo and Chinese Foreign Minister and State Councillor Wang Yi exchanged unusually harsh remarks in public over their governments' deep-seated differences during a brief visit to Beijing by Washington's top diplomat
Alibaba's Jack Ma Says the U.S. Will 'Suffer More' in Its Trade War with China
10/10/2018, 11:04:15 AMHe's not a fan of the tariff offensive. ✔ It is really ill-advised for the United States to launch a war of some sort…thinking that they can treat China like the way they treated Russia by isolating the economy and bringing on pain, Tsai said, as reported by the Post ✔ We are so integrated that the pain is going to be felt all over the world
Analysis | The Finance 202: U.S., China look for weapons beyond tariffs to ramp up trade fight
10/10/2018, 11:53:17 AMtrump china, trump tariffs, u.s. china trade war, china currency manipulator, mnuchin yuan china, treasury department, dina powell u.n. ✔ WSJ's Michael S. Derby: Dallas Federal Reserve Bank President Robert Kaplan said Tuesday he supports the U.S. central bank pressing forward ‘gradually and patiently’ with interest-rate increases ✔ #TNYcartoons A post shared by The New Yorker Cartoons (@newyorkercartoons) on Oct 9, 2018 at 12:55pm PDT BULL SESSION Identity of second Russian linked to Skripal poisoning uncovered: What to know about sinkholes: I am a voter, are you?: AMAs get political
Trump and China look headed for a double-barrelled trade and currency war with neither backing down
10/10/2018, 10:13:17 AMChina's government has hit out at the Trump administration, accusing the US president of "bullying" over his aggressive tactics in the escalating trade conflict between the two nations, saying it will "rise up" should a full scale trade war break out. ✔ The US should not underestimate China's resolve and will ✔ Zhong's comments came just a few hours after President Trump once again accused China of taking advantage of the US over trade ✔ Alongside increasing tariffs, communications between the two sides have become more and more strained in recent weeks ✔ In August, he claimed that Beijing is a currency manipulator
Global financial crisis WARNING: World economy 'AT RISK from dangerous undercurrents'
10/10/2018, 10:15:05 AMTHE world’s economy is at risk of being crippled by “dangerous undercurrents” in the global financial system, a new report by the International Monetary Fund (IMF) has warned. The IMF detailed how further escalation in the burgeoning trade war could see investors spooked and “significantly harm global growth” with a sudden sell-off in financial markets. ✔ But even across emerging markets, we see a lot of differentiation ✔ Maurice Obstfeld, the IMF's chief economist, said at a media briefing about the fund's latest World Economic Outlook: When you have the world's two largest economies at odds, that's a situation where everyone suffers ✔ He continued: Trade policy reflects politics and politics remain unsettled in several countries, posing further risks
Trump says China not ready to reach trade deal, repeats threat of...
10/10/2018, 8:46:20 AMPresident Donald Trump on Tuesday repeated his threat to slap tariffs on an addi... ✔ Citing the growing trade war, the International Monetary Fund on Tuesday cut its global economic growth forecasts for 2018 and 2019 ✔ Asked about Trump’s remarks at a regular news briefing in Beijing on Wednesday, Chinese Foreign Ministry spokesman Lu Kang said a trade war was bad for the global economy and not in the interests of either country ✔ REUTERS/Jonathan Ernst Our Standards:The Thomson Reuters Trust Principles
Trump Says China Not Ready To Reach Trade Deal
10/10/2018, 9:53:10 AMPresident Donald Trump on Tuesday repeated his threat to slap tariffs on an additional $267 billion of Chinese imports . ✔ China then hit back with tariffs on about $60 billion of U.S. imports ✔ Citing the growing trade war, the International Monetary Fund on Tuesday cut its global economic growth forecasts for 2018 and 2019 ✔ Reuters (Additional reporting by Christian Shepherd in BEIJING; Editing by Bill Berkrot & Shri Navaratnam)
Luxury stocks slide as Vuitton strength fails to quell China worries
10/10/2018, 9:01:29 AMRobust appetite in the third quarter for Louis Vuitton handbags and other high-e... ✔ Brokers at Morgan Stanley downgraded the luxury goods sector to underweight on Wednesday, also adding to pressure on industry stocks ✔ Many luxury goods companies are still trading above their average valuations of the last 12 months, after a rally fueled by rebounding sales in the past two years ✔ Our Standards:The Thomson Reuters Trust Principles
What to Expect From This Earnings Season
10/10/2018, 10:20:49 AMAbout 75% of the S&P 500’s constituents release earnings reports over the next month, and forecasters expect yet another solid showing this season. ✔ Also contributing to lower EPS growth expectations has been the strength of the U.S. Dollar, as companies’ foreign earnings are worth less when translated back to greenbacks than they were a year ago ✔ ...The outlook for 4Q might be more challenging than the market appreciates
Dow Drops 19 Points as Pessimism Hangs Over the Markets
10/10/2018, 10:52:56 AMThe lack of market-moving headlines isn’t reason enough to get the market moving higher. ✔ S&P 500 futures have dipped 0.1%, while Dow Jones Industrial Average futures have declined 19 points, or 0.1%, and Nasdaq Composite futures have dropped 0.2% ✔ It is almost as if the market is waiting for something ✔ It has the potential to get stocks moving higher again…or not
Tears for Sears, SoftBank and WeWork, HSBC Settlement: CEO Daily for October 10, 2018
10/10/2018, 9:51:32 AMMust-read business news, delivered every morning. ✔ BBC Currency Warning U.S. Treasury Secretary Steven Mnuchin has warned China not to devalue its currency as a trade-war tactic ✔ Spektral develops machine-learning technology for image and video-editing purposesits software makes it possible to identify things in images and remove them from their surroundings ✔ Find previous editions here, and sign up for other Fortune newsletters here
European shares fall as uncertainty prevails; tech, luxury hit
10/10/2018, 9:34:19 AMEuropean shares fell on Wednesday as investors assessed whether worries about gl... ✔ LONDON (Reuters) - European shares fell on Wednesday as investors assessed whether worries about global growth warranted the caution that led Wall Street and Asian markets to trade sideways the day before ✔ The pan-European STOXX 600 index was down 0.36 percent by 0819 GMT ✔ Germany's DAX .GDAXI retreated 0.52 percent and France's CAC 40 .FCHI lost 0.7 percent ✔ Our Standards:The Thomson Reuters Trust Principles
Vuitton propels LVMH growth in boost for luxury sector
10/10/2018, 8:48:23 AMLVMH has benefited along with a handful of rivals such as Gucci-owner Kering from rebounding demand among Chinese customers in the past two years. ✔ 30, said sales reached 11.4 billion euros ($13.1 billion) in the quarter and were up 10 percent on a comparable basis, in line with forecasts ✔ Shares fell last week due to unconfirmed rumours of a crackdown on high-end wares by Chinese customs officials
Exclusive: China taps brakes on outbound investment, betrays...
10/10/2018, 10:55:05 AMChina is suspending approvals for a niche overseas investment product in Shangha... ✔ Global asset managers, including JPMorgan AM, Allianz, BNP Paribas, AXA, Robeco and Mirae Asset, have been awarded QDLP licenses this year ✔ The SAFE said in April it would expand the total quota for the QDLP program ✔ Our Standards:The Thomson Reuters Trust Principles
Hong Kong plans artificial islands for housing
10/10/2018, 9:13:36 AMChief Exec Lam unveils scheme to tame home prices with 1,700ha of new land ✔ The shortage of land supply is often cited as the primary reason for the runaway housing prices, which have more than quintupled since 2003 ✔ But he also said, The fact that the vision can only be realized in the next two to three decades implies that the shortage in office supply will not ease anytime soon
Euro steadies as dollar rally takes a breather
10/10/2018, 11:27:46 AMThe euro steadied on Wednesday near $1.15, moving away from seven-week lows afte... ✔ [nR1N1VZ01R] European shares fell with investors in a nervous mood ✔ Markets have been buffeted by worries about the impact of the U.S.-China trade conflict on economic growth, and rising U.S. funding costs ✔ Our Standards:The Thomson Reuters Trust Principles
'Kicking and screaming': Turkey and South Africa are struggling to impose credible economic policies
10/10/2018, 9:02:42 AMTurkey and South Africa both appear to be unwilling to implement meaningful economic reforms, one analyst told CNBC on Wednesday. ✔ Fears of contagion and a wider emerging markets shake-up culminated in Turkey's central bank increasing its benchmark interest rate to 24 percent last month ✔ Moody's rating agency is scheduled to review its stance on South Africa on Friday, with Mboweni's appointment seen restoring stability for an economy now in recession
Jack Ma regains title as China’s richest man
10/10/2018, 9:20:59 AMundefined ✔ Xu Jiayin, $36bn Founder of Evergrande, China’s largest property group by market capitalisation ✔ Yan Hao & family, $17.5bn Mr Yan inherited a stake in Pacific Construction, one of the country’s few large privately owned infrastructure groups, from his father Yan Jiehe ✔ ‘Robin’ Li Yanhong & Ma Dongmin, $17bn Mr Li founded Baidu, China’s largest internet search engine
Stocks flatline after selloff as U.S. borrowing costs hold below...
10/10/2018, 9:24:47 AMWorld stocks inched off eight-week lows on Wednesday as U.S. long-dated borrowin... ✔ The Treasury selloff may have been curbed also after U.S. President Donald Trump complained said the Federal Reserve was going too fast in raising rates ✔ The Times newspaper reported 30-40 opposition Labour MPs would back the agreement ✔ Our Standards:The Thomson Reuters Trust Principles
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