US-China trade war: MILLIONS of US jobs LOST because of China trade deficit - SHOCK data
10/24/2018, 1:25:32 AMMILLIONS of US jobs have been lost as a result of Washington’s increased trade deficit with Beijing since China joined the World Trade Organisation (WTO) 17 years ago, a new report has revealed. ✔ China has experienced rapid growth in its economy over recent years (Image: GETTY) Trump has enforced a series of punitive sanctions on China as he pursues his America First mantra (Image: GETTY) Trump added more tariffs to a further $200billion (£154billion) of Chinese imports in September, to which Beijing retaliated by introducing levies on an additional $60billion (£46billion) of US goods
Trump's moves complicate Asia's adjustment to higher rates
10/24/2018, 6:56:31 AMTrade war and fiscal stimulus add to market stress, says chief of central bank group ✔ U.S. President Donald Trump speaks at a campaign rally for U.S. Senator Ted Cruz in Houston, Texas on Oct. 22 ✔ It is already having an impact on some important economic decisions, he said ✔ Within Asia, Pakistan formally requested aid from the IMF on Oct. 11
Trump tariffs hit another American icon: His beloved baseball caps
10/24/2018, 4:41:09 AMPresident Donald Trump's trade war with China appears set to raise the price of yet another all-American icon. ✔ And moving production away from suppliers with which American companies have had relationships for years is not easy ✔ Bloomberg Trade Donald Trump China Baseball Most Viewed in Business Loading Please explain Our weekly podcast giving you insight into the stories that drive the nation
Japan manufacturing gauge signals Q4 rebound
10/24/2018, 1:41:59 AMundefined ✔ The Nikkei manufacturing purchasing managers’ index for this month rose to 53.1 from 52.5 in September, and further from the 50 point mark that separates expansion from contraction, according to an early reading ✔ The improvement suggested that Japan’s likely slowdown in third quarter gross domestic product was just a blip, said Capital Economics economist Marcel Thieliant
China wants to stop buying American soybeans
10/24/2018, 5:10:41 AMThe Chinese government is seeking to wean farmers off imports of soybeans from the United States, which have already been hit by tariffs. ✔ MUST WATCH Hong Kong (CNN Business)First, Beijing slapped tariffs on American soybeans ✔ China has been facing a potential soybean shortage after it put a new 25% tariff on importing them from the United States in July, part of the escalating trade war between the two countries ✔ Chinese demand for US corn never fully recovered, according to Pay
European stock markets poised for modest rebound
10/24/2018, 7:02:29 AMundefined ✔ The broader Stoxx 600 had fallen by 1.6 per cent yesterday ✔ The recovery in Europe followed a similar change in sentiment in Asia, where stocks reversed their previous slides by Wednesday lunchtime as regulators attempted to shore up sentiment ✔ European markets in particular have been plagued with uncertainty about the possibility of a disorderly Brexit and negotiations between the European Commission and the Italian government over the country’s budget
'New trajectory': Abe heads to China as Trump trade threats help bury old tensions
10/24/2018, 2:38:44 AMTalks between Xi Jinping and Shinzo Abe have warmed since a 2012 dispute over islands in the South China Sea ✔ Japan’s prime minister, Shinzo Abe, will arrive in Beijing on Thursday amid a thaw in bilateral ties that would have seemed impossible just a few years ago ✔ The trade war with the US seems like it’s helping bring them together a bit, said Kristin Vekasi, assistant professor of political science at the University of Maine, and an expert on Japan-China ties
The FTSE 100 is shaken by global turmoil
10/24/2018, 1:57:51 AMBritain's blue-chip index of leading companies fell 1.2 per cent, or 87.59 points, to 6955.21 – its lowest level since March. ✔ Connor Campbell, a market analyst at Spreadex, said a 'poisonous brewing cauldron of geopolitical and economic issues' dragged stock markets lower ✔ Lukman Otunuga at leading forex broker FXTM added: 'All the ingredients for a market-shaking sell-off across global stocks seem to be in place.'
STMicro upholds bullish 2018 growth target on strong automotive,...
10/24/2018, 6:57:16 AMFranco-Italian chipmaker STMicroelectronics upheld its bullish growth target for... ✔ STM’s upbeat sentiment could alleviate recent investors’ concerns about the chipmakers industry, following a disappointing forecast by smaller rival AMS AG, which lost a quarter of its market value on Tuesday ✔ Our Standards:The Thomson Reuters Trust Principles
Ford sets up China business as a stand-alone unit
10/24/2018, 5:51:41 AMFord has also named auto industry veteran Anning Chen as the new president and CEO of the China business, starting Nov. 1. ✔ Ford's sales in China dropped 43 percent in September from the same month a year ago ✔ The automaker has also been hit hard by the ongoing trade war between the United States and China despite the fact that Ford sells cars in China through partnerships with local firms ✔ CNBC's Robert Ferris and Reuters contributed to this report
Oil prices claw back previous losses as Iran sanctions focus returns
10/24/2018, 5:33:14 AMThe demand outlook for 2019 is darkening because of concerns of a slowing economy next year. ✔ In China, Iran's biggest oil buyer, the Bank of Kunlun is set to stop handling payments from the Islamic Republic next month, appearing to bow to U.S. pressure ✔ Kunlun is controlled by the financial arm of state-owned China National Petroleum and is the main official channel for money flows between China and Iran ✔ (Reporting by Henning Gloystein; Editing by Joseph Radford and Christian Schmollinger)
Chinese media accuse Trump of playing 'high-stakes game' in the Taiwan Strait
10/24/2018, 4:55:20 AMThe recent presence of U.S. vessels in the Taiwan Strait, which is part of Washington's freedom of navigation operations in Asia, was intended as a "warning" to Beijing, according to state-run newspaper China Daily. ✔ The Taiwan Strait separates the self-ruled island of Taiwan from China ✔ It's the latest sign of escalating tensions between the world's two largest economies, whose relationship has turned fragile amid a bitter trade dispute that's threatening to hurt other aspects of bilateral ties
Brent stable after hefty losses as Iran sanctions return to focus
10/24/2018, 7:12:47 AMBrent crude prices stabilized on Wednesday after heavy losses the day before, wi... ✔ In China, Iran’s biggest oil buyer, the Bank of Kunlun is set to stop handling payments from the Islamic Republic next month, four sources familiar with the matter told Reuters ✔ Kunlun is controlled by the financial arm of state-owned China National Petroleum Corp and is the main official channel for money flows between China and Iran ✔ Our Standards:The Thomson Reuters Trust Principles
African swine fever hits Chinese pork industry in run-up to New Year
10/24/2018, 7:10:52 AMDeadly virus causing alarm at time when demand for nation’s favourite meat is due to spike ✔ The virus, passed through contaminated feed or exposure to infected animals, has a near 100% fatality rate and there is no vaccine ✔ Chinese officials have been quick to report and act on outbreaks, and have advised residents that the virus poses no threat to humans ✔ The virus can survive in frozen pork products for years
Napoleon tribute act threatens to wreck Brexit Britain — we call his bluff
10/24/2018, 1:48:22 AMMac’s wrong CLOWNS to the left of us, jokers to the right. On one side, Irish PM Leo Varadkar is more a comedian than he is a statesman, though it’s not a high bar to clear. On the other, Emmanuel … ✔ Mac’s wrong CLOWNS to the left of us, jokers to the right ✔ Dyson matter GOOD luck to Sir James Dyson in Asia ✔ His new Singapore plant will give his thriving British firm a foothold in the world’s fastest-growing car market ✔ Corbis - Getty 5 The disgraceful pursuit must stop
Freeport-McMoRan’s chief forecasts copper deals
10/24/2018, 7:49:19 AMundefined ✔ Jakarta wants all miners to switch to new licences and build smelters in the country to boost local production ✔ On his future, Mr Adkerson, 71, said he had no plans to retire, pointing out that he was younger than President Donald Trump who is talking about a second term
Abe urges parties to present constitutional amendment plans as Diet session opens
10/24/2018, 7:17:35 AMPrime Minister Shinzo Abe on Wednesday urged political parties to present to the Diet their draft amendments to Japan's pacifist constitution as a step toward his long-cherished goal of revising the supreme law. At the beginning of a 48-day extraordinary Diet session, Abe called for each party's "efforts to deepen… ✔ Having been re-elected for another three-year term as LDP head, Abe has a chance of becoming Japan's longest-serving prime minister ✔ Opposition parties plan to grill Abe over his cabinet picks embroiled in scandals, including regional revitalization minister Satsuki Katayama, who is alleged to have accepted money from the owner of a manufacturing company in return for asking tax authorities for special treatment on the firm's behalf
Opinion | All the reasons the migrant caravan is totally a national emergency
10/24/2018, 12:11:53 AMThe caravan heading to the southern border is limited only by the president’s imagination. ✔ By Dana Milbank Dana Milbank Op-ed columnist covering national politics Email Bio Follow Columnist October 23 at 7:05 PM This is an emergency! A caravan of unarmed, destitute people, many of them women and children, is snaking its way through Mexico toward the United States at the breakneck pace of about three miles per hour ✔ ●Are Saudi bankers coming to demand Trump repay their loans
Slump persists, China fails to stimulate markets hobbled by pledged...
10/24/2018, 6:22:28 AMChina is struggling to restore confidence in its stock markets, which are being ... ✔ REUTERS/Thomas Peter/File Photo Analysts say the practice, which involves 10 percent of total outstanding shares, is a minefield for an economy already battling slowing growth and a trade war with the United States ✔ That pushed Shanghai stocks .SSEC up 2.6 percent on Friday and 4.1 percent on Monday ✔ On Wednesday, however, markets moved lower as investor worries returned ✔ Our Standards:The Thomson Reuters Trust Principles
Property is falling, shares are shaky. Here's where to put your money
10/24/2018, 1:22:29 AMPrices of just about all major asset classes are falling, leaving investors scratching their heads on where to find a decent return. ✔ Money Investing Shares Property is falling, shares are shaky ✔ As interest rates in the US continue to be increased beyond Australia's cash rate of 1.5 per cent, international investors will likely increase their exposure to US dollar-denominated investments
Texas Instruments says semiconductor demand is slowing, sending ripples of fear across the sector
10/24/2018, 12:57:00 AMThe semiconductor industry has been struggling on Wall Street amid signs that a slowdown was coming. On Tuesday afternoon, doubters seemed to receive confirmation. ✔ We’ll be in a position with what we’re doing with wafer starts that if it’s a more shallow correction, we’ll be prepared to support it on the other side ✔ Therese Poletti Therese Poletti is a senior columnist for MarketWatch in San Francisco ✔ We Want to Hear from You Join the conversation Comment
Opponents fear ‘wrecking ball’ Bolsonaro poses threat to Brazilian democracy
10/24/2018, 4:09:31 AMundefined ✔ Others warn that Mr Bolsonaro might want to use his political capital to deliver first on his social agenda, rather than prioritising economic reform ✔ But reflecting on the high crime rates, in the same breath, she gives a hint as to why ordinary Brazilians are looking for a change ✔ Moreover, 38 per cent of sales from Vale, the Brazil-based iron ore producer, are to China
October is a frightful month for global investors
10/24/2018, 4:47:06 AMundefined ✔ Rome has said that it will take action of some kind if the 10-year’s spread over German Bunds hits 400bp; it is currently at 318bp ✔ A Democratic sweep, however, could ramp up the risks of a presidential impeachment and imperil the Republican party’s spending plans ✔ On the other hand, a Republican victory in both houses could lead to another deficit-busting tax cut
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