Foxconn slumps as worries build over trade war, iPhone margins
10/26/2018, 4:47:15 AMundefined ✔ Apple supplier Foxconn slumped to its lowest since early 2014 on Friday amid rising market concerns over higher costs as the US-China trade dispute worsens and thinning margins for making iPhones ✔ Foxconn’s troubles come just months after Mr Gou stood alongside US President Donald Trump in Wisconsin to break ground at a $10bn Foxconn facility in Wisconsin, an investment touted by the president as the fruits of his pro-American agenda
Trade war to drag on Singapore economy, central bank says
10/26/2018, 4:29:38 AMSingapore's central bank warned on Friday that an intensifying trade row be... ✔ REUTERS/Darren Whiteside/File Photo The tiny Southeast Asian state, a global trading hub and financial center, is seen as a bellwether for the global economy because its exports equate to around 200 percent of its output ✔ Another industry that might feel the heat is transportation, it added ✔ Singapore has one of the world’s busiest ports - connecting the west with Asia ✔ Our Standards:The Thomson Reuters Trust Principles
Japan and China pledge move from 'competition to collaboration'
10/26/2018, 4:28:36 AMBeijing seeks improved ties with Tokyo amid escalating US trade war ✔ Joint work on projects in the area was agreed in 2008, but has stalled amid tensions over the Japanese-administered Senkaku Islands, which China claims and refers to as the Diaoyu ✔ As a symbol of warming bilateral ties, the two leaders also confirmed that arrangements would be made for a panda to be leased to Japan
European markets seen lower amid heightened global growth fears
10/26/2018, 6:00:17 AMEuropean stocks are set to open lower Friday morning, tracking overnight losses in Asia as anxiety over the outlook for U.S. corporate profits renewed concerns about global economic growth. ✔ Financial markets have been hit hard by a range of worries, including the U.S.-China trade war, a rout in emerging market currencies, rising borrowing costs and bond yields and economic concerns in Italy ✔ MSCI's broadest index of Asia-Pacific shares, excluding Japan, dropped 1 percent
Chinese Soy Buyers Leave US Exporters Show Empty Handed
10/26/2018, 6:41:49 AMThe U.S.-China trade dispute has effectively halted bilateral trade of soybeans and U.S. farmers are concerned that soy export demand will fall short during their primary shipping season this autumn. ✔ U.S. soybean prices have tumbled about 18 percent over the past three months as the threat of tariffs shifted Chinese buyers to book soybeans almost exclusively from Brazil, the top exporter of the oilseed ✔ When the trade war is concluded, we want to be able to jump right back in and be doing business again
Hyundai Motor to bounce back in Q4
10/26/2018, 6:52:30 AMundefined ✔ The 2019 Genesis G70 luxury sports sedan / Courtesy of Hyundai Motor By Park Jae-hyuk Hyundai Motor, which posted a third-quarter earnings shock Thursday, will likely bounce back in the final three months of the year on strong sales of its new large SUVs and premium sedans, analysts said Friday ✔ It will post 1 trillion won in operating profit in the fourth quarter, thanks to the increase in business days, sales and capacity utilization of its U.S. factories
Oil prices drop as oversupply looms amid global market woes
10/26/2018, 7:11:53 AMWashington is putting pressure on governments around the world to stop importing Iranian oil. ✔ U.S. investment bank Jefferies said the Brent curve is flirting with contango, a troubling development that we expect is at least in part driven by managed money liquidation in a broader risk-off trade ✔ (Reporting by Henning Gloystein and Aaron Sheldrick; Editing by Richard Pullin and Joseph Radford)
Oil prices fall as oversupply looms amid global market woes
10/26/2018, 7:17:29 AMOil prices fell on Friday and were heading for a third weekly loss, as Saudi Ara... ✔ U.S. investment bank Jefferies said the Brent curve is flirting with contango, a troubling development that we expect is at least in part driven by managed money liquidation in a broader risk-off trade ✔ (Graphic: Iran seaborne crude oil exports - tmsnrt.rs/2RfVf4p) Our Standards:The Thomson Reuters Trust Principles
China and Japan reset strained relationship
10/26/2018, 7:12:59 AMundefined ✔ [But] we are neighbours and our two economies are interdependent ✔ Mr Abe’s visit was timed to coincide with the 40th anniversary of Deng Xiaoping’s first and only visit to Japan as paramount leader in October 1978, shortly before he officially launched his economic reform and opening programme
China is committed to playing by the rules on global trade
10/26/2018, 4:21:25 AMundefined ✔ Forced technology transfer has, for some time, been another major concern of China’s trade competitors ✔ China understands this and is committed to transforming its IP system to comply with internationally accepted norms ✔ No global arrangement worthy of the name can afford the loss of Chinese participation
Trump likely to make a 'bad deal' on North Korea, US experts warn
10/26/2018, 6:44:40 AMCSIS analysts say Kim holds the upper hand over a Washington in 'chaos' ✔ Kim Jong Un has a strategy, and it is working -- he's calling the shots, said Terry, who was a senior analyst on Korean issues at the U.S. Central Intelligence Agency from 2001 to 2008 ✔ The way to do so, and to avoid a potential public split with Seoul, is for the U.S. and South Korea to divide talks into two tracks, negotiating peace and denuclearization separately
Weak soybean exports seen slowing U.S. third quarter growth
10/26/2018, 4:11:30 AMThe U.S. economy likely slowed in the third quarter, held back by a tariff-relat... ✔ Economists estimate the widening trade gap chopped off almost 2 percentage points from GDP growth in the third quarter, which would reverse the 1.22 percentage point contribution in the April-June period ✔ Our Standards:The Thomson Reuters Trust Principles
Weak Soybean Exports Seen Slowing US Third Quarter Growth
10/26/2018, 5:47:05 AMThe United States economy likely slowed in the third quarter, held back by a tariff-related drop in soybean exports. ✔ Photo: REUTERS/Dave Kaup Economists estimate the widening trade gap chopped off almost 2 percentage points from GDP growth in the third quarter, which would reverse the 1.22 percentage point contribution in the April-June period ✔ Reuters (Reporting by Lucia Mutikani; Editing by Tomasz Janowski)
Questioning of UBS financier in China rattles private banking
10/26/2018, 4:20:43 AMundefined ✔ Michael Benz, former global head of private banking at StanChart and now senior adviser to management consultancy Synpulse, said he thought it unlikely despite the shock felt by the private banks that they would formally change their China strategies, because to do so would suggest they might have defied the mainland’s regulators in the past
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