Apple supplier seeks to escape trade war fallout with shift out of China
10/12/2018, 12:41:37 PMMigration begins as others step up contingency plans ✔ An AirPod assembler has notified suppliers that it intends to move production from China to Vietnam ✔ The group is also evaluating new facilities in Thailand, Vietnam and the Philippines, the chairman said ✔ The AirPods manufactured by Luxshare come from the Chinese supplier's facility in the Chinese city of Kunshan
BMW says trade war could hit 2019 results by up to 500 million euros
10/12/2018, 12:04:34 PMGerman carmaker BMW expects a hit to earnings of up to half a billion euros ($57... ✔ The new BMW 3 Series is pictured during the first press day of the Paris auto show, in Paris, France, October 2, 2018 ✔ In September, BMW cut its financial guidance, saying it now expected pre-tax profit to fall this year, blaming the trade war between China and the United States and a price war in the car market ✔ ($1 = 0.8638 euros) Our Standards:The Thomson Reuters Trust Principles
Ford's sales in China collapsed 43% in September amid Trump's trade war and an economic slowdown
10/12/2018, 3:41:07 PMFord's sales in China dropped by 43% in September compared to the same month in 2017. The drop was caused by a combination of Ford's restructuring, a slowing Chinese economy, and the growing US-China trade war. ✔ There are a number of reasons for the collapse in sales for Ford and the Chinese auto market in general: China's economy has slowed in recent months, with the International Monetary Fund marking down GDP growth projections for the country and investment in infrastructure and businesses also slowing
Ford sales in China dropped 43 percent in September
10/12/2018, 3:40:43 PMThe second--largest U.S. automaker has been hit by the ongoing trade war between the U.S. and China, despite the fact that Ford sells cars in China through partnerships with local firms. ✔ JOHANNES EISELE | AFP | Getty Images The Ford Mustang is displayed during the 17th Shanghai International Automobile Industry Exhibition in Shanghai ✔ This is the third straight month of declining auto sales in China ✔ As of Friday morning the stock was trading near its 52-week low of $8.75, set on Oct. 12
Chinese Exporters Whistle Past the Grave
10/12/2018, 12:16:54 PMChina’s exports are being hammered by the trade war, right? Not exactly. September trade data painted a picture of an economy which is slowing, but still far more resilient than widely appreciated across the Pacific. ✔ A cargo ship at a port in Qingdao in China's eastern Shandong province ✔ Moreover, while global growth is slowing, it remains strong ✔ The International Monetary Fund cut its 2018 global growth forecast this week to 3.7%, the fastest rate since 2011 excluding last year
Dollar rises on stock rebound, upbeat Chinese data
10/12/2018, 3:34:33 PMThe dollar climbed on Friday against a basket of currencies as global equity pri... ✔ At 10:43 a.m. (1443 GMT), an index that tracks the dollar versus six major currencies was up 0.29 percent at 95.291 ✔ It touched a seven-week high of 96.15 on Tuesday as U.S. 10-year Treasury yield hit a 7-year peak due to worries about rising inflation and U.S. government debt supply ✔ Our Standards:The Thomson Reuters Trust Principles
Perspective | The manic stock market wakes up to risks and the president’s blaming the ‘crazy’ Fed. But the Fed’s not the crazy one.
10/12/2018, 3:24:27 PMThe stock market is bouncing back today, but Trump's blaming the Federal Reserve for this week's big selloff. He's way off base. ✔ (Photo by Drew Angerer/Getty Images) By Jared Bernstein Jared Bernstein Bio Follow Jared Bernstein, a former chief economist to Vice President Joe Biden, is a senior fellow at the Center on Budget and Policy Priorities and author of 'The Reconnection Agenda: Reuniting Growth and Prosperity' ✔ What impact will it have on jobs, wages, and incomes
Trump bans nuclear exports to China amid fears military will hijack them
10/12/2018, 1:01:21 PMDONALD Trump is clamping down on the export of civilian nuclear power technology to China – amid fears it will be hijacked by the military. US intelligence experts are seriously concerned the… ✔ The wings have been modelled on the US Northrop Gruman B-2 Spirit stealth bomber ✔ In August, a leading expert in Asia-Pacific security described the situation as a ticking time bomb ✔ He added: All it would take is an accidental clash between the wrong two militaries, at the wrong place or the wrong time, and a highly dangerous escalation could occur
Crunch time for Italy, Brexit as leaders convene in Brussels
10/12/2018, 1:38:54 PMBrussels, the political heart of Europe, could prove the center of global market... ✔ There’s a lot of unsettling concern about the combination of higher bond yields, geopolitical risk and the ongoing trade tensions, he said ✔ FED ON TRACK DESPITE TRUMP INVECTIVE In terms of data, September retail sales from the United States are expected to reflect the strength of the world’s largest economy with an unemployment rate of 3.7 percent, a 49-year low, and wages picking up ✔ Our Standards:The Thomson Reuters Trust Principles
JPMorgan's consumer banking strength offsets bond trading weakness
10/12/2018, 12:11:21 PMJPMorgan Chase & Co reported a better-than-expected quarterly profit on Friday a... ✔ Markets and investor services revenue, which includes revenue from trading bonds and stocks, was up just 1 percent, amid an escalating trade war between Beijing and Washington and worries about slowing global growth ✔ Our Standards:The Thomson Reuters Trust Principles
Mnuchin says Trump respects the independence of the Fed
10/12/2018, 1:31:17 PMTreasury Secretary Steven Mnuchin says President Donald Trump respects the independence of the Federal Reserve and his recent comments were simply a reflection of the fact that he favors low interest rates. ✔ article Treasury Secretary Steven Mnuchin said Friday that President Donald Trump respects the independence of the Federal Reserve and the president's recent comments were simply a reflection of the fact that he favors low interest rates ✔ Mnuchin said he made it clear to the Chinese that it would not be in their interests to allow a further decline in the value of the Chinese yuan against the dollar
Citigroup profit beats on higher bond trading, lower costs
10/12/2018, 2:24:04 PMCitigroup Inc reported a better-than-expected quarterly profit on Friday, helped... ✔ Workers are seen in at Citibank offices in the Canary Wharf financial district in London, Britain, November 17, 2017 ✔ Excluding the sale, total net interest revenue from the business was $1.88 billion, up 5 percent from the second quarter and 3 percent from a year earlier ✔ Our Standards:The Thomson Reuters Trust Principles
Tech stocks lead Wall Street's bounce after two-day slide
10/12/2018, 2:38:10 PMWall Street climbed more than 1 percent on Friday following its worst two-day sl... ✔ REUTERS/Brendan McDermid Wall Street's two-day slide this week was its worst in eight months, pulling the three major indexes down a little over 5 percent each, with the Nasdaq .IXIC narrowly avoiding moving into correction territory ✔ Our Standards:The Thomson Reuters Trust Principles
World shares rebound but remain on track for weekly loss
10/12/2018, 3:34:34 PMStock markets worldwide bounced back on Friday after a multi-day selloff that le... ✔ Slideshow (5 Images) The biggest market shakeout since February has been blamed on factors including fears about the impact of the U.S.-China tariff fight, a spike in U.S. bond yields this week and caution ahead of earnings season ✔ Our Standards:The Thomson Reuters Trust Principles
Friday Morning Briefing
10/12/2018, 2:38:14 PMEmpty shelves and poor customer service speed Sears' demise, death toll fro... ✔ Yui Mok/Pool via REUTERS Queen Elizabeth’s granddaughter Princess Eugenie married Jack Brooksbank at Windsor Castle in front of celebrities and Britain’s senior royals including Prince Harry and wife Meghan who wed at the same venue in May ✔ Indonesia's disaster exposes lack of readiness Our Standards:The Thomson Reuters Trust Principles
Analysis | The Finance 202: Trump says he won't fire his Fed chair. It's not clear he could.
10/12/2018, 12:19:24 PMRaising the specter of firing Powell brings up a surprisingly complicated question. ✔ The meeting represents a short-term triumph for U.S. officials who want to conclude the trade war before economic damage spreads, including Treasury Secretary Steven Mnuchin and Larry Kudlow, the director of the National Economic Council ✔ BULL SESSION Hurricane Michael leaves Florida town in pieces: Singapore Airlines resumes world's longest flight: Whoops: Sergeant at arms drops sword
Take Five: World markets themes for the week ahead
10/12/2018, 1:15:23 PMFollowing are five big themes likely to dominate thinking of investors and trade... ✔ They are indeed expected to deliver 26 percent earnings growth, outstripping the 21.4 percent predicted for the S&P500 according to I/B/E/S Refinitiv ✔ (Graphic: Italy's CDS price trades in line with junk-rates issuers - reut.rs/2OcNzmC) Our Standards:The Thomson Reuters Trust Principles
Analysis | The Daily 202: How Mike Bloomberg scared off Anthony Weiner from challenging him in 2009
10/12/2018, 1:15:45 PMSix hardball tactics that might come in handy for 2020. ✔ Former New York mayor Michael Bloomberg speaks Sept ✔ Hernandez claimed that she only touched Rice-Cameron while he was filming her with his phone, the Daily reported ✔ (Lynh Bui) VIDEOS OF THE DAY: Late-night hosts had a field day with Kanye West’s visit to the White House: Sen
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