Malaysia fears tariff-dodging probes amid US-China trade war
10/11/2018, 5:41:16 AMTrade minister counts on FTAs as companies seek to evade tariffs ✔ The 16 countries aim to conclude the FTA by 2018 after missing several deadlines in the past ✔ Separately, Malaysia and Indonesia signed deals in August, looking into collaboration in the supply chain to develop an ASEAN car, a concept proposed by Mahathir
Trump trade war delivers farm boom in Brazil, gloom in Iowa
10/11/2018, 5:17:36 AMThe Bella Vita luxury condominium tower rises 20 stories over the boomtown of Lu... ✔ While Brazil’s overall economy is stuck in a ditch, the nation’s farm sector rolled to 13 percent growth last year ✔ Boone lays smack in the state’s center, surrounded by miles of row crops, hogs and poultry ✔ Our Standards:The Thomson Reuters Trust Principles
Pound LIVE: GBP Sterling holding ground as US stocks PLUNGED into MELTDOWN
10/11/2018, 7:41:30 AMTHE pound is holding ground against the US dollar and euro today after the US stock market was plunged into chaos with some of the biggest drops seen since February. The market fell into chaos over fresh fears of a China trade war and rising interest rates. ✔ S&P 500 fell to a fifth-day straight loss, the longest slump since President Donald Trump was elected, as Wall Street endured its sharpest one-day fall in months ✔ Alphabet, Amazon, Apple, Facebook and Microsoft all fell more than 4 percent each yesterday as tech stock crashed
European stocks open sharply lower
10/11/2018, 7:21:45 AMShares have slumped after concerns about escalating trade tensions and rising US bond yields. ✔ Japan's benchmark Nikkei 225 dropped 3.9%, its steepest daily drop since March ✔ In China, the Shanghai Composite fell 4.9% to its lowest since 2014 ✔ The trigger for the latest fall has been a sudden flight from American government debt ✔ The Fed is making a mistake, he told reporters on Wednesday
'We should not overreact to market movements,' says Standard Chartered chairman
10/11/2018, 5:17:05 AMStandard Chartered Chairman José Viñals urged investors to "de-dramatize the situation" amid a stock market rout in Asia. ✔ English banking giant Standard Chartered's chairman suggests that investors should de-dramatize the recent market sell-off ✔ However, the moderation in investment growth and trade caused by the negative sentiment has not translated into an increase in loan impairments or anything like that, he added
Why the US stock slump is hitting Asian markets hard
10/11/2018, 5:25:42 AMWorld markets are having a rough day. A sharp drop in US stocks is causing tremors thousands of miles away in Asia. ✔ Tech stocks are particularly vulnerable because they are among the most highly valued parts of the stock market according to metrics widely used by investors ✔ The long-term fundamental story for Asia led by rising domestic consumption remains unchanged, Samant said
American ructions behind $50 billion dive in local market
10/11/2018, 7:19:59 AMFears about trade wars, rising interest rates and elevated stock valuations added up to a very bad day on the local market. ✔ The broader All Ordinaries index fell 170.4 points to 5993.4 ✔ Similar to February, equity investors are surprised by the pace at which rates [in America] have risen and that has led multiples to come under pressure and volatility to rise ✔ You don’t get between a mother and her baby, she said
Hong Kong stocks sink as Wall Street tumble spills over
10/11/2018, 5:28:47 AMBAIC Motor drops after BMW announces plan to raise stake in JV with Brilliance ✔ Also weighing on sentiment was news from President Donald Trump's administration that U.S. authorities will begin subjecting foreign investment in 27 industries, including semiconductors and telecommunications, to a stricter review process starting Nov. 10
Business Live: Thursday 11 October
10/11/2018, 5:11:38 AMAll the day's business news and views from the UK and beyond, as it happens. ✔ However, she says there could be teething issues in implementation: I think the difficulty might be more in the data because it is much easier to separate your workforce by gender than it is by ethnicity ✔ Yesterday, $500bn was wiped off the US stock market amid rising concerns about higher interest rates and the global trade war
Printing machine: US Treasury issuing more bonds to feed soaring debt but there are no takers
10/11/2018, 7:16:02 AMUS Treasury issuing more bonds to feed soaring debt but there are no takers ✔ This is the largest fiscal deficit for the US since 2012 ✔ As you watch our next budget come out – and you’ll start to see things in the next few weeks – then you’ll see a much more aggressive stance in tackling it, he said, as quoted by Bloomberg ✔ For more stories on economy & finance visit RT's business section Trends: US news
ASX loses $50b amid global sell-off
10/11/2018, 6:46:46 AMAustralian shares plunged to their worst performance in eight months on Thursday, wiping $49.6 billion from the boards as markets sold off worldwide. ✔ The reality is that earnings growth in FY19 is likely to be modest at 11 per cent, and the absence of any material detail regarding new products reduces the accuracy/validity of any cash flow projection therefrom to mere speculation, said analyst John Hester
China should prepare 'more powerful' steps to support economy:...
10/11/2018, 4:25:45 AMChina should get ready "more powerful" policy measures, possibly inclu... ✔ NOT A CURE-ALL Lowering the RRR is good, but it doesn’t cure all illnesses, Financial News, a newspaper run by the central bank, said in an editorial on Thursday ✔ After all, RRR cuts are meant to guide liquidity to targeted recipients and are less about directly producing an effect, according to the editorial ✔ Our Standards:The Thomson Reuters Trust Principles
Jack Ma says US will ‘suffer more’ if it keeps trying to start Cold War with China
10/11/2018, 5:33:25 AMAlibaba’s executive chairman Jack Ma has warned that the US will “suffer more” if it continues its efforts to launch a Cold War against China in an attempt to neutralize the growth of the country’s economy. ✔ It is really ill-advised for the United States to launch a war of some sort targeting China, thinking that they can treat China like the way they treated Russia by isolating the economy and bringing on pain ✔ His comments followed an aggressive and combative speech given by US Vice President Mike Pence last week, which prompted suggestions that Washington was officially announcing the beginning of a new Cold War against the Asian superpower
Global markets tumble as Trump slams 'crazy' Fed
10/11/2018, 4:15:05 AMAsian markets plunged Thursday morning following the worst session on Wall Street for months, as US President Donald Trump said the Federal Reserve had "gone crazy" with plans for higher interest rates. ✔ 'Not panicking' The rout in US shares followed substantial losses on European bourses, due in part to tensions between Brussels and Rome over Italian budget plans that have revived fears about the eurozone ✔ In other markets, oil prices fell sharply on worries that Hurricane Michael, which is battering the US state of Florida, will dent demand for gasoline and other petroleum products
Claire McCaskill video: Missouri Democrat shuns rural ‘bootheel’ voters
10/11/2018, 4:12:23 AMA video recording has emerged of Democrat Sen. Claire McCaskill telling supporters that she doesn’t care about losing votes in the state’s “bootheel,” the southeastern most tip of the state that is rural and solidly conservative. ✔ SPRINGFIELD, Missouri A video recording has emerged of Democrat Sen ✔ Republican challenger Josh Hawley featured the video recording in a new TV ad that hit the airwaves Thursday, using Ms. McCaskill’s own words to hammer home his message that the two-term senator has betrayed Missouri’s farmers, ranchers and rural residents ✔ The announcer adds, Claire McCaskill has given up on you
IMF's Lagarde warns against trade, currency wars, urges fix to...
10/11/2018, 7:11:58 AMInternational Monetary Fund Managing Director Christine Lagarde on Thursday warn... ✔ Treasury Secretary Steven Mnuchin met with People’s Bank of China Governor Yi Gang on Thursday on the sidelines of the IMF-World Bank meeting ✔ We discussed important economic issues, Mnuchin said of their meeting on Twitter ✔ Our Standards:The Thomson Reuters Trust Principles
India to keep importing oil from Iran, brushing off US pressure
10/11/2018, 6:26:06 AMDespite sanction threats, New Delhi puts priority on obtaining low-cost energy ✔ Although Pradhan did not name the companies that will buy the Iranian oil next month, local PTI news agency reported that state-run Indian Oil Corp. and Mangalore Refinery and Petrochemicals have together contracted for 1.25 million tons of crude from the Persian Gulf nation in November
Currency war looms amid trade dispute
10/11/2018, 5:59:02 AMundefined ✔ President Trump has openly criticized China, Germany, Japan and Korea for manipulating their currencies to rip off and cheat the U.S. The value of China's yuan has been falling near the psychological threshold of 7 yuan per U.S. dollar ✔ The government, however, said the agreement is nonbinding and not part of the bilateral trade deal, but only the extension of the G20 and IMF's solidarity against unfair currency devaluation
Climate change will make the next global crash the worst | Larry Elliott
10/11/2018, 5:10:23 AMThe storm clouds are gathering, but the world’s economies have far fewer shelters from disaster than they did in 1929, says Larry Elliott ✔ Late last month Indonesia was hit by a devastating earthquake and tsunami that left thousands of people dead and missing ✔ Ominously, next year is the 90th anniversary of the Wall Street Crash ✔ The Great Depression that followed that market meltdown led to new economic thinking
US and China face growing risk of military clashes as conflict intensifies
10/11/2018, 5:15:16 AMWashington-Beijing ties threaten to get much worse before they can possibly be stabilized ✔ The debate within the walls of Zhongnanhai (the leadership compound) is not whether China should respond to Trump's pressure with hard or soft tactics, but how hard Chinese response should be ✔ Minxin Pei is a professor of government at Claremont McKenna College and a non-resident senior fellow of the German Marshall Fund of the United States
Analysis | Under Trump, U.S. enters a new ‘Cold War’ with China
10/11/2018, 5:22:08 AMThe White House is pushing harder on China, and Beijing seems more than willing to push back. ✔ We demand the U.S. stop such misguided actions, Chinese Foreign Minister Wang Yi said at a news conference, referring to Washington’s harsh words as well as to the trade tensions that have cast a shadow over relations ✔ Yet, one day, we will wake up and realize that Asia has irrevocably changed
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