Hog industry worldwide getting slaughtered in trade war
10/26/2018, 11:32:48 AMKen Maschhoff, chairman of the largest U.S. family-owned pork producer, has watc... ✔ REUTERS/Rodolfo Buhrer His company, The Machhoffs, has halted U.S. projects worth up to $30 million and may move some operations overseas ✔ Everything I use is becoming more expensive, said Yu Shiqian, who raises 1,800 hogs in northeastern Liaoning province ✔ Slideshow (9 Images) Big producers are also being hit hard ✔ Our Standards:The Thomson Reuters Trust Principles
Taiwan issue a bigger concern than US-China trade war
10/26/2018, 9:51:02 AMAsia expert Ezra Vogel urges China to learn from Japan's prewar history ✔ Vogel has authored a biography on Deng Xiaoping and deeply understands the process and the spirit behind past agreements ✔ If the U.S. continues doing something peculiar [like its current actions], China may respond in a peculiar way as well, he warned ✔ The author hopes to start a debate on the subject when the book comes out
Military tensions around Taiwan could make it harder to resolve the trade war
10/26/2018, 8:04:06 AMThe United States and China are currently engaged in a tit-for-tat tariff war, and military tensions surrounding Taiwan could further complicate efforts at resolving the trade standoff. ✔ Sam Yeh | AFP | Getty Images Pro-Taiwan independence activists call for the referendum on the streets in front of the headquarters of the ruling Democratic Progressive Party (DPP) during a demonstration in Taipei on October 20, 2018 ✔ If someone attempts to split Taiwan from China, the Chinese military will take any necessary actions at any cost, Defense Minister Wei Fenghe said at a military forum in Beijing, the state-run China Daily reported
Trump’s Trade War With China Is Starting to Hit Home for More Companies
10/26/2018, 9:09:07 AMWhen President Donald Trump first took on China over trade, it was easy to ignore because the impact hadn’t hit corporate profits. No longer. ✔ Read more : AMD Chief Lisa Su Says the Trade War Is an Opportunity For now, it appears that many companies are willing to eat the costs, and that could have a big impact on bottom lines ✔ Information technology, industrials, and retail are all down more than the broader market this month
'It's total chaos': To companies caught in the U.S.-China trade war, tariffs are big trouble - Los Angeles Times
10/26/2018, 10:14:34 AMA report from Tesla Inc. this week was so upbeat that its stock shot up, but a word within the text signaled potential trouble ahead for the electric-car maker, as it has for dozens of other companies recently: tariffs. They're grappling with the effects of the U.S.-China trade war. ✔ Investors breathed a sigh of relief Thursday when Tesla Inc ✔ President Trump triggered the trade war in July by slapping tariffs on $34 billion of imports from China after negotiations faltered to address U.S. concerns about unfair practices and theft of intellectual property from American companies
Trump's Bailout of U.S. Farmers Hit by His Trade War With China? It May End Up Aiding a Giant Chinese Company
10/26/2018, 10:38:40 AMSmithfield Foods, one of the U.S.'s biggest pork producers, is eligible to get bailout cash because of Trump's trade war with China. ✔ Specifically, Smithfield will be able to offload some of its surplus pork to the Agriculture Department, which will pay for it and distribute it to food banks ✔ And it appears that taxpayer money will go to a state-owned enterprise as a result of that state’s tariffs
RED OCTOBER: Amazon, Google, and Snap are plunging and taking global stocks down with them
10/26/2018, 9:42:14 AMThe China trade war, the Fed raising interest rates, and a spike in bond yields are all driving premarket trading lower. ✔ Google parent Alphabet was down 5% and Snap lost 7.7% at about 5:10 a.m. in New York ✔ Here's how the markets are faring so far: The Nasdaq is set for a lower open, with futures down 2.9% in New York pre-market trading ✔ BP, Shell and Rio Tinto posted declines of 1.7% or more
China yuan rebounds after falling toward WEAKEST level against US dollar in a DECADE
10/26/2018, 9:46:00 AMCHINA saw the yuan plunge toward its weakest level against the US dollar in a decade earlier today before clawing back some losses. The yuan rebounded slightly after dropping as much as 0.22 percent, and creeping closer to a level of 7, against the American greenback. ✔ seven seems to be the short-term line in the sand Timothy Moe, co-head of Asia macro research Supporting the development of private enterprises is the Party Central Committee’s consistent policy ✔ The US also wants Beijing to rein in high-technology industrial subsidies, open its markets to more foreign competition and take steps to cut a $375 billion (£283 billion) US goods trade surplus
US farmers turn to Iran to plug hole in soyabean sales
10/26/2018, 11:35:52 AMundefined ✔ Addressing the US-China trade war, he said: We should seize opportunities provided to our country during decision making in world trade ✔ Bringing in a market like Iran, and all the others combined, is essential if China is not going to import from us, said Sam Funk, economist at AgServe.com, an agricultural consultancy in St Louis
China rich help drive global billionaires’ wealth — UBS
10/26/2018, 10:27:14 AMundefined ✔ The pace of growth has been rapid: it was only 30 years ago the Chinese government permitted private enterprise ✔ Growth has been aided by population growth, technological innovation and government support said Josef Stadler, head of UBS’s global ultra-high-net-worth business ✔ The report concludes this is unlikely to affect China’s young entrepreneurs, however:
Oil falls on oversupply worries despite Iran sanctions
10/26/2018, 8:20:48 AMOil prices headed for a third weekly loss on Friday after Saudi Arabia warned of... ✔ There are also signs of a slowdown in global trade, with container and bulk freight rates dropping after rising for most of 2018 ✔ Many buyers, including Iran’s biggest customer, China, appear to be falling in line, forcing Tehran to store unsold oil on tankers in the hope it can sell the crude once sanctions are lifted ✔ (Graphic: Iran seaborne crude oil exports - tmsnrt.rs/2RfVf4p) Our Standards:The Thomson Reuters Trust Principles
Economy losing steam
10/26/2018, 8:00:25 AMundefined ✔ The policymakers have refused to acknowledge their failure to create more jobs and bring higher incomes to the people, especially the poor working class ✔ The authorities also ought to map out radical measures to encourage corporate investment and stimulate domestic demand ✔ They should put top priority on reviving the economy
China and Japan pledge to boost economic cooperation
10/26/2018, 11:50:36 AMJapanese PM Abe travels to China with the hopes the relationship will shift from one of competition to cooperation. ✔ China is also worried about its own economic slowdown, and its economic slowdown is going to require more technological infusion from Japan, more foreign direct investment, and more trade with Japan, Nagy added ✔ They also signed an agreement to work together in naval search and rescue operations
FTSE100 plummets to two-year low
10/26/2018, 9:51:39 AMThe FTSE 100 shed nearly 100 points after the bell on Friday, surpassing the 7-month lows of 6,921 it hit on Thursday and striking its lowest point since October, 2016. ✔ Disappointing results from US tech giants Amazon and Google-parent Alphabet overnight helped trigger falls on Wall Street and in Asian markets overnight that triggered the London market's latest tumble ✔ Today, the EU's rejection of Italy's budget is still weighing heavily on the Eurozone ✔ At time of writing the FTSE 100 was down 1.5 per cent at 6,898.70
10 things you need to know before the opening bell
10/26/2018, 11:19:57 AMThis is what traders are talking about. ✔ Construction crew members use basket cranes to work on an elevated area inside the terminal building at Beijing Daxing International Airport in Beijing ✔ Looking ahead, our baseline expectation is a decline in the equity impulse to real GDP growth to about -0.25pp in the first half of next year, Jan Hatzius, the chief economist at Goldman, said in a recent note to clients
Global stock market sell-off won't stop Fed from hiking interest rates, El-Erian says
10/26/2018, 10:02:43 AMA recent global stock market sell-off won't be enough to persuade the U.S. central bank to stop raising interest rates, noted economist Mohamed El-Erian told CNBC on Wednesday. ✔ Global markets have since whipsawed in recent weeks, amid lingering worries the Fed could soon pick up the pace if its planned interest rate hikes ✔ The second issue that I think that is important is underestimated liquidity risk … Liquidity risk is back and investors need to pay attention to that
Singapore's factory output surprises with contraction
10/26/2018, 10:15:38 AMElectronics, chemicals, pharmaceuticals show weakness ✔ Transport engineering was the standout during the month as output increased 39.4% ✔ MAS's macroeconomic review fleshes out the rationale behind the central bank's latest monetary policy statement, which was to allow a faster appreciation of the Singapore dollar in the face of an uptick in inflationary pressures
Top tech investors say hold your nerve as FAANGs bitten
10/26/2018, 8:05:03 AMThe forces that have lifted tech stocks to become the most powerful in the world are only just beginning. ✔ Analysis Business Markets World markets Top tech investors say hold your nerve as FAANGs bitten By John McDuling26 October 2018 7:00pm Normal text sizeLarger text sizeVery large text size Hold your nerve ✔ Amazon shares had fallen 7 per cent in after-hours trading on Friday morning (Sydney time) after the e-commerce giant reported underwhelming quarterly results
Trade retaliations against the U.S. hit Canada farmers, too
10/26/2018, 11:24:34 AMThe United States' trade wars have allowed Canada's agriculture indust... ✔ Scorching summer weather that shriveled plants in Manitoba added to the pain of lower prices, Sirski said ✔ Other sectors of the Canadian agricultural industry have taken a direct hit from changes in U.S. trade policy ✔ Our Standards:The Thomson Reuters Trust Principles
The world's billionaires became 19 per cent richer in 2017
10/26/2018, 10:06:28 AMA total of 179 new billionaires were created last year across the globe, with nearly a third gaining their wealth through some form of innovation ✔ Billionaires made more money in 2017 than any year in recorded history ✔ Larry Ellison - $58.5billion The 73-year-old American co-founded software company Oracle ✔ It predicts that a further $3.4 trillion will be handed down to these individuals over the course of the next 20 years
Mahathir: Japan can ‘blunt the aggressiveness’ of U.S., China
10/26/2018, 8:59:48 AMBANGKOK—For the good of the world, Japan should “blunt the aggressiveness” of the United States and ✔ It is not that we are against China; it is because we cannot afford to have the railways projects, etc ✔ Q: It has been pointed out that Southeast Asian countries have backtracked from democracy, such as Cambodian Prime Minister Hun Sen strengthening his dictatorship and Thailand’s military administration, which has been in the authoritative status for more than four years ✔ (This article was written by Mayumi Mori and Akihiko Kaise from Bangkok.)
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