Amid China trade war, US moves to broaden review of foreign investment
10/10/2018, 4:06:13 PMThe U.S. is broadening its review of foreign investments in American companies. The aim is to block China from buying, investing or partnering in U.S. companies to acquire sensitive technology. ✔ Earlier this year, Cfius blocked Singapore-based Broadcom's attempted takeover of U.S.-based chip maker Qualcomm ✔ President Donald Trump had considered putting a set of sweeping investment restrictions on China but decided to go along with a plan to grant Cifius broader review power, a win for Treasury Secretary Steven Mnuchin who had been working behind the scenes to diffuse the trade spat, the NYTimes reported
Amid trade war and spying claims, Apple CEO turns on the charm in China
10/10/2018, 4:05:38 PMTim Cook has been in Shanghai and Beijing, showing he remains committed to China. ✔ By Anna Fifield Anna Fifield Beijing bureau chief ✔ Apple is also building a joint research center with Tsinghua that will focus on advanced technologies, including machine learning and computer vision ✔ A top-end phone by local manufacturer Huawei retails for about $700
US v China: Trump's ‘America first’ policy could put USA LAST - shock warning
10/10/2018, 7:52:57 PMDONALD Trump’s “America first” policy could end up being “America’s last”, according to an expert who believes a lack of commitment from Washington to Japan in the wake of the China trade war could result in a disaster for both superpowers. ✔ But Mr Nagy said the two nations must work as a team to dominate China ✔ The US needs to step up its efforts to assist Japan so it can battle China’s growing influence (Image: GETTY) He said: It is unclear if President Trump and his supporters understand that without the United States within the region .. ✔ In a downcast assessment on the global economy, the IMF pointed the finger at trade policy tensions as part of its reason for predicting slower global growth
Chinese slowdown fears hit LVMH shares and luxury rivals
10/10/2018, 4:47:52 PMRobust sales growth at luxury goods leader LVMH in the third quarter failed on W... ✔ FILE PHOTO: A woman with a Louis Vuitton-branded shopping bag looks towards the entrance of a branch store by LVMH Moet Hennessy Louis Vuitton in Vienna, Austria October 4, 2018 ✔ REUTERS/Lisi Niesner/File Photo ‘SELL THE NEWS’ Falls in the yuan have also added to market concerns that Chinese shoppers will lose purchasing power, with many still tending to splurge on goods on overseas trips ✔ Our Standards:The Thomson Reuters Trust Principles
China represents biggest, long-term threat to US interests – FBI director
10/10/2018, 5:58:29 PMChina is waging an unprecedented influence campaign against the American public and Beijing represents the “broadest, most complicated, most long-term” threat to US interests, said FBI Director Christopher Wray. ✔ It covers everything from corn seeds in Iowa to wind turbines in Massachusetts and everything in between ✔ READ MORE: China halts all oil imports from US amid escalating trade war While the US and China compete in some areas, the two should not view each other with a Cold War mentality, top Chinese diplomat State Councillor Wang Yi said last month, possibly qualifying for the understatement of the year
US Federal Reserve To Lift Interest Rates Wednesday: IBT Poll
10/10/2018, 4:01:22 PMAll economists polled by International Business Times expect the U.S. Federal Reserve to raise its benchmark Fed Funds Rate by 25 basis points to 2.0-2.25 percent. ✔ Analysts expect the final reading for second-quarter growth, scheduled to release Thursday, at 4.3 percent ✔ I don’t see an impact in the U.S. economy in a major way, says William Dickens, chair of the Department of Economics at Northeastern University.I think it would take a lot more, a much broader trade war – U.S. versus China – I don’t think it's going to have a major impact on GDP growth
GE Appliances Announces Plans to Outfit its Kitchen Hub with Sidechef | Digital Trends
10/10/2018, 6:20:32 PMGE Appliances is getting into the smart kitchen market in a big way and recently announced two big partnerships including a venture to outfit its new smart kitchen hub with the SideChef app that can access more than 5,000 recipes and a plan to integrate Hestan Cue's automation technology into its ovens and cooktops. ✔ At the same event, GE Appliances also announced a new venture with smart-cooking system Hestan Cue to create induction cooktops and ranges for its Café appliance line ✔ Haier Group, which acquired the appliance manufacturer for more than $5 billion in 2016, had planned to start selling its kitchen products in China next month
Dow Tumbles 400 Points, But Don’t Worry...Yet
10/10/2018, 5:02:51 PMDefensive utilities were the only space spared as 10 of the 11 sectors were in the red and bond yields continued to march higher. ✔ As LPL Financials’ Ryan Detrick notes, the S&P 500 just came off its least volatile third quarter since 1963, has been up for six consecutive months, and hasn’t closed up or down more than 1% for more than three straight months, one of the longest streaks ever
Philippines and US to announce free trade talks in November
10/10/2018, 4:13:14 PMManila hopes to revive garment industry with permanent tariff deal, trade secretary says ✔ We used to have that quota with the U.S., [which] was already removed, so we want to bring back.. ✔ The Philippine leader has ordered the Philippine military to reduce engagement with U.S. forces, while toning down criticism of Beijing's expansion in the South China Sea ✔ The recent deal with Ottawa is widely seen as a victory for Trump, who plans to commence trade talks with Japan next
Instant View: Wall Street shares slide, tech losses in focus
10/10/2018, 7:27:43 PMWall Street shares slid on Wednesday, with all three major U.S. indexes down mor... ✔ Tech and the areas that have been pretty overdone on the upside are under pressure today while some of the more value-oriented names are really holding in there ✔ Dollar: The U.S. dollar index was off 0.25 percent Our Standards:The Thomson Reuters Trust Principles
Chinese spy charged with stealing US aviation secrets, extradited
10/10/2018, 7:53:56 PMUS federal agents lured a Chinese government spy to Belgium, where authorities transferred him this week to the US for prosecution. ✔ Xu recruited the experts to travel to China, often under the guise of asking them to deliver a university presentation and passing himself off as an official with the Jiangsu Science and Technology Association ✔ Washington Post Politics China Most Viewed in World Loading Please explain Our weekly podcast giving you insight into the stories that drive the nation
If Donald Trump doesn't confront Saudi Arabia, the world order could be upended
10/10/2018, 4:19:16 PMDonald Trump's worldview and its roots in "America First" may be selling well with his base at home. But overseas, it is buckling America's carefully crafted world order, CNN's Nic Robertson says. ✔ MUST WATCH Questions linger after journalist disappears 03:36 Nic Robertson is CNN's international diplomatic editor ✔ He likes to remind us they have committed to billions of dollars in arms deals over the coming years ✔ In the movies, it would be part of a daring escape
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