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Trade War - SERIES 309 {17 articles}

Trade war worries boost dollar as GDP miss knocks euro

10/30/2018, 12:12:07 PM
The dollar hit a new 2 1/2-month high on Tuesday, supported by worries about an ... ✔ The yuan has been one of the biggest casualties as the dollar steamrolled higher in 2018 ✔ The Aussie is often viewed as a barometer of broader risk sentiment, as well as a proxy for China-related risks since China is the largest buyer of Australia’s key exports ✔ Our Standards:The Thomson Reuters Trust Principles


Dollar holds near 2-1/2 month high as trade war jitters linger

10/30/2018, 3:18:10 PM
The dollar held on to modest gains near a 2 1/2-month high against a basket of m... ✔ The Australian and New Zealand dollars jumped on Tuesday as investors picked up risky assets although analysts warned any rally is likely to be short-lived amid simmering global trade tensions ✔ The euro, which weakened on Monday on news German Chancellor Angela Merkel would not be seeking re-election as head of the Christian Democrats party, was 0.08 percent lower against the dollar ✔ Our Standards:The Thomson Reuters Trust Principles


PC price increases "inevitable" next year, Acer founder says

10/30/2018, 12:13:52 PM
Father of Taiwan's computer industry says trade war will tamp down demand ✔ The higher tariff rate takes effect on New Year's Day ✔ The industry appeared to be arresting its fall earlier this year ✔ Chuang concluded that Japan's and Taiwan's chip industries can form joint ventures, do joint development and jointly promote products


Cummins sees $250 million hit from tariffs next year

10/30/2018, 3:17:46 PM
Cummins Inc said it expects $250 million tariff-related costs in 2019, which the... ✔ The U.S. engine maker said $150 million of the total impact is from direct tariffs, while $100 million is from an increase in metal prices ✔ The United States and China are locked in a spiraling trade war in which they have slapped several rounds of tariffs on each other’s imports ✔ Our Standards:The Thomson Reuters Trust Principles


China’s Xi tells military to prepare for war as US Navy warns of high seas encounters

10/30/2018, 12:42:39 PM
Chinese President Xi Jinping told military officials responsible for the disputed South China Sea to be better “prepared for war” as tensions with the US are rising. Beijing may be bracing for a worst-case scenario with the US. ✔ US Navy Sailors participate in a medical training exercise in the South China Sea ✔ Amid the growing tension, Beijing has been injuring America’s position as the holder of the only world currency, selling out US treasury securities and switching out of dollar in its trade with third countries


US stock futures mixed after Monday’s wild ride on Wall St

10/30/2018, 1:29:46 PM
undefined ✔ However, Wall Street has been marred by choppy trading in recent weeks ✔ Ahead of the bell on Tuesday investors also digested quarterly updates from General Electric, which cut its dividend for the second time in less than a year, Coca-Cola, Pfizer and Tapestry among others


US strikes at the heart of China's tech ambitions

10/30/2018, 1:31:38 PM
The US decision to target state-owned chipmaker Fujian Jinhua Integrated Circuit Co. exposes one of the biggest vulnerabilities in China's bid to become a global tech powerhouse. ✔ Bloomberg News alarmed investors Monday with a report that the US government is set to move ahead with even more tariffs if a meeting expected to take place next month between Chinese President Xi Jinping and US President Donald Trump doesn't go well


Nvidia Edges Higher, GE Slips as Markets Pause to Breathe

10/30/2018, 12:29:05 PM
One day after all three major U.S. market indexes turned big gains into large losses, stocks are taking a breather. Dow futures were higher, while European stocks were flat and Asian markets gained. ✔ Nvidia (ticker: NVDA) is among the largest companies upgraded today; JPMorgan Chase raised it to Overweight ✔ This, admittedly, is a throw- away data point, but too much reporting complexity has frustrated investors at GE in the past ✔ Wall Street eagerly awaits new CEO Larry Culp’s comments on the conference call later this morning


Stocks struggle after trade worries send yuan to 10-year low

10/30/2018, 1:33:21 PM
European shares labored in the red and China's yuan hit a 10-year low on Tu... ✔ Mainland China's benchmark Shanghai Composite .SSEC and the blue-chip CSI 300 .CSI300 gained to 1.0 percent and 1.1 percent, respectively, having initially fallen after Trump's administration had hit state-backed Chinese chipmaker Fujian Jinhua with U.S. restrictions on Monday


Analysis | The Finance 202: Trump’s post-midterm plan: Tariffs on all Chinese imports

10/30/2018, 12:40:06 PM
That is, if there's no breakthrough at the G-20 summit. ✔ CNBC's Thomas Franck: Morgan Stanley disagrees with the rest of Wall Street: The bank's top strategists are gearing up for a much longer bear market while others are betting the sell-off is short-lived ✔ I call upon you to repent: Sessions heckled by priest


India stocks decline, dragged by energy companies

10/30/2018, 12:29:17 PM
Bharat Petroleum falls after quarterly profit halves from year-earlier ✔ Meanwhile, a NSE index of state-owned lenders advanced 2.5%, adding to Monday's 8% jump ✔ Among other major movers on the BSE, Tech Mahindra advanced 2.9%, leading software exporters higher ✔ Infosys added 2.5% and Tata Consultancy Services rose 1.4% ✔ LIC Housing Finance dropped 2.6% despite an 11.5% rise in net profit for the same period


We're not worried about the quality of Chinese audits, EY CEO says

10/30/2018, 2:16:05 PM
The health of businesses in China is in focus as corporate debt piles up. ✔ The risk in China is the huge levels of debt, the uncertainty in the overall economy, Weinberger said ✔ Deloitte & Touche, KPMG and PwC are the other three ✔ Chinese Vice-Premier Liu He has attempted to calm markets by describing state ownership as a measure that can be reversed when business improves for private companies


EU should brace for U.S. standoff over China, ex-WTO chief warns

10/30/2018, 12:52:51 PM
The European Union should prepare for its companies to be targeted by American s... ✔ The Trump administration in May withdrew Washington from an international agreement to curb Tehran’s nuclear activities, and imposed new sanctions against Iran ✔ That triggered the mass withdrawal of European companies from carmakers to oil majors, in order to avoid crippling U.S. penalties reintroduced in stages on Aug. 6 and Nov. 4 ✔ Our Standards:The Thomson Reuters Trust Principles


'Beyond comprehension': Huawei chairman slams chief spy's comments

10/30/2018, 1:08:29 PM
Huawei chairman John Lord has hit back at Australian bureaucrats for being out of line with the rest of the Western world by implementing a policy banning Chinese companies from participating in building Australia's 5G networks. ✔ Loading Mike Burgess, the director-general of the Australian Signals Directorate, said on Monday the stakes in 5G could not be higher and warned it was no longer sufficient to confine high-risk vendors to non-core parts of the network ✔ He said he hoped level heads will prevail in the future, and the decision to ban Chinese providers would be revisited


Nickel bull worries intensify for key electric vehicle component

10/30/2018, 1:56:04 PM
undefined ✔ Ominously for nickel bulls, it says the facility could come on stream next year ✔ Indonesia could become a meaningful source for battery grade nickel especially if Tsingshan is able to bring its site to life at the cost and within the timeframe envisaged, said Michael Widmer, metals strategist at Bank of America Merrill Lynch Even though Tsingshan has no experience of developing, building or running a HPAL facility, few people in the industry are prepared to discount the possibility given its record of innovation ✔ Still, most analysts say Tsingshan’s ultimate objective is credible, even if the timelines and costings are unrealistic


U.S. Ban Threatens Beijing’s Ambitions as Tech Power

10/30/2018, 2:18:43 PM
A U.S. ban on American companies doing business with a Chinese chip maker accused of stealing technology secrets threatens to upend a company backed by $5.7 billion in state funds, damaging China’s ambitions to build a world-class semiconductor industry. ✔ As part of its efforts to nurture domestic chips, China is estimated to be investing $150 billion over the decade from 2017 to support its chip industry and develop more-sophisticated know-how that will move it up the value chain ✔ The U.S. government’s ruling is a sign that the U.S. is willing to play the trade-war card, said Wang Yanhui, secretary-general of the Mobile China Alliance, a telecommunication industry consortium


Analysis | The Daily 202: Immigrants facing Trump-ordered deportations plead with U.S. citizens to think of them at the polls

10/30/2018, 2:21:45 PM
“Do me a favor: Go and vote for me,” a Salvadoran woman tells an American friend as she prepares for a forced return to her dangerous homeland. ✔ For lawmakers already concerned about incendiary, extreme content online, the posts offered the latest reason to consider new regulation of the tech industry writ large ✔ Wiedefeld also proposed a flat $2 fare for weekends ✔ pic.twitter.com/EGJvAZlTmQ Ian Sams (@IanSams) October 29, 2018


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