US says EU moving too slowly in trade talks
10/17/2018, 4:34:40 PMBRUSSELS (AP) — U.S. Secretary of Commerce Wilbur Ross says the European Union is moving too slowly in trade talks and is warning that President Donald Trump's patience with the Europeans might soon run out. Trump and EU Commission President Jean-Claude Juncker agreed in July to start talks intended to achieve "zero tariffs" and "zero subsidies" on non-automotive industrial goods, in an effort to avert a possible trade war. Ross told reporters in Brussels Wednesday that "we really need tangible progress. The president's patience is not unlimited."
Tesla secures land for Shanghai factory with $140m investment
10/17/2018, 4:03:11 PMCompany to lease 210-acre site in Pudong for 50 years ✔ meters of land in Shanghai's Pudong district for five decades ✔ In addition to a gigafactory for automobile batteries, the site will house facilities for producing motors and other core components ✔ China is the world's biggest market for electric vehicles
Fund Managers See Global Growth Slowing into 2019
10/17/2018, 5:47:11 PMAlso, 85% of those surveyed by Bank of America Merrill Lynch say growth is in late stages. ✔ That’s the gloomiest projection since November 2008 ✔ Among fund managers’ biggest worries is trade: 35% cited trade war as the biggest market threat ✔ -- Steve Garmhausen ALSO IN ADVISOR CENTER Morgan Stanley, Charles Schwab Boost Income Fidelity Gives Crypto Some Cred Merrill Re-Ups Incentives, Commits to Protocol
Trump starts leaving postal union in latest anti-China move
10/17/2018, 5:01:15 PMGlobal shipping treaty lowers rates for foreign deliveries to US ✔ The move was welcomed by the U.S National Association of Manufacturers, which called the exiting postal pact outdated in the age of e-commerce and at a time of Chinese manufacturing dominance ✔ These include hacking into U.S. companies' computers to steal trade secrets and forcing American firms to hand over technology to China in exchange for access to the Chinese market
Trump threatens pullout from postal treaty favoring Chinese shippers
10/17/2018, 5:04:20 PMThe White House said it hopes it can renegotiate better terms. ✔ The National Association of Manufacturers (NAM) praised the decision on Wednesday, calling the treaty an anti-US manufacturer subsidy ✔ I told them, ‘You guys aren’t ready yet, you’re just not ready,’ because look, they’ve been taking $500 billion a year out of our country, it’s time that we stop it, he told FOX Business
Stocks Are Battling Back. But Earnings Could Determine What the Future Holds
10/17/2018, 4:50:56 PMAll three major stock market indexes have rallied back from early losses behind earnings from companies like Netflix and United Continental ✔ Deshpande’s predicts that earnings will grow at a slower-than-10% clip during the first half of 2019, and that doesn’t include the potential downside of further escalation in the trade war between the U.S. and China ✔ Arista Networks (ANET) has after getting upgraded to Outperform from Market Perform at BMO
Mattis to seek more resilient U.S. ties with China's military
10/17/2018, 6:31:31 PMU.S. Defense Secretary Jim Mattis will seek more resilient military ties during ... ✔ China has been infuriated by the United States putting sanctions on China’s military for buying weapons from Russia, and by what Beijing sees as stepped-up U.S. support for self-ruled Taiwan, claimed by China as its sacred territory ✔ Our Standards:The Thomson Reuters Trust Principles
Lam Research, ASML earnings spark ‘relief rally’ for chip-equipment sector, but doubts remain
10/17/2018, 6:48:55 PMChip-equipment stocks were among the best performers in tech Wednesday, after Lam Research Corp. and ASML Holding NV delivered better-than-feared commentary on demand trends. ✔ We believe Lam’s commentary provides the potential catalyst for a ‘relief rally’ near term and if trends continue as management has forecasted, provide a more sustained rally for the group heading into 2019, he wrote ✔ We Want to Hear from You Join the conversation Comment
7 Luxury Goods Stocks to Buy, According to HSBC
10/17/2018, 4:11:18 PMLuxury goods stocks have been hurt as investors fret about a slowdown, but HSBC’s Erwan Rambourg says the bears are too pessimistic. ✔ Where we’re headed: Near-term growth is still likely to be relatively strong, compared with the long-term outlook for the industry and other areas of retail, says HSBC ✔ The latter believed they would spend more on experiences like travel and less on material things ✔ Make the Connection We checked in with Rambourg in the spring about China’s luxury market
DealBook Briefing: Uber and Lyft Are in an I.P.O. Race
10/17/2018, 7:13:04 PMThe first company to go public would get dibs on investors that are eager for a piece of the ride-hailing business. ✔ It’s a way to get its apps on as many devices as possible, and to collect data about users and sell advertising ✔ Just Look at BlackRock’s Results Matt Winkelmeyer/Getty Images Goldman Sachs Needs to Sweat One Asset Much Harder: Its Staff Damon Winter/The New York Times Blackstone and BlackRock Chiefs Withdraw From Saudi Conference DealBook Conference 2018 Trending Audio Offers Gruesome Details of Jamal Khashoggi Killing, Turkish Official Says Opinion: The Elizabeth Warren Fiasco The Jamal Khashoggi Case: Suspects Had Ties to Saudi Crown Prince Opinion: The Saudi Cover-Up Crumbles Proud Boys Founder: How He Went From Brooklyn Hipster to Far-Right Provocateur Canada Legalizes Recreational Marijuana, and a National Experiment Begins Review: ‘The Conners’ Is a Bittersweet Pill The House Springsteen Built: An Oral History of the Stone Pony Student Gunman Kills 19 and Wounds Dozens at a College in Crimea Original Big Bird, Caroll Spinney, Leaves ‘Sesame Street’ After Nearly 50 Years
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