US trade war hits EU: Former WTO boss warns European companies at risk in Trump trade war
10/30/2018, 10:43:47 PMTHE European Union is certain to be caught in the crossfire as the United States and China slug it out in their escalating trade war, former World Trade Organisation (WTO) director general Pascal Lamy has warned. ✔ European governments have pledged in response to establish new financing channels which shield companies from US sanctions, but a viable programme has yet to emerge ✔ Mr Lamy's report was co-authored by Louis Schweitzer (Image: GETTY) Although the White House declared a truce with Brussels in late July, European companies have been caught in the crossfire of the US’ tariff row with China ✔ They also claimed the move was a violation of WTO rules
China reveals trade war strain as yuan slides and manufacturing stalls
10/31/2018, 3:15:39 AMTensions with the US are beginning to bite amid a wider slowdown in the world’s second biggest economy ✔ The rate is creeping ever closer to the 7 yuan mark – a level regarded as unthinkable three years ago when Beijing succeeded in cementing the yuan’s place as one of the world’s reserve currencies ✔ Shares in Shanghai were up 1% on Wednesday in line with markets across Asia Pacific
Oil prices climb for first time in three days, but trade war fears...
10/31/2018, 3:41:35 AMOil prices climbed for the first time in three days on Wednesday, but rising sup... ✔ TOKYO (Reuters) - Oil prices climbed for the first time in three days on Wednesday, but rising supply and fears over the outlook for demand amid the U.S.-China trade war kept pressure on the market ✔ In a bearish signal, the American Petroleum Institute reported U.S. crude inventories rose 5.7 million barrels last week, more than analyst forecasts for a 4.1 million-barrel build
After the sell-off: Where next for Asian markets?
10/31/2018, 3:42:33 AMCurrency pressures and trade war concerns batter stocks ✔ U.S.-China trade friction is not necessarily bad for Southeast Asia ✔ Ian Bremmer, president of Eurasia Group, who attended the IMF/World Bank meeting, lamented the lack of urgency in responding to these challenges ✔ Nikkei Asian Review deputy editor Dean Napolitano in Hong Kong and Nikkei staff writer Kentaro Iwamoto in Singapore contributed to this report
Consumers, get ready for price hikes if China trade war ratchets up, report says - Los Angeles Times
10/30/2018, 9:17:14 PMThe U.S. is said to be preparing to announce tariffs on all remaining Chinese imports by early December — and Citigroup economists are projecting that the impact at the checkout counter may be as much as 10 times higher than the earlier rounds. ✔ Levies on such a wide range of goods would deal a tangible blow to China’s growth, said Tom Orlik and Chang Shu of Bloomberg Economics, which estimates that the drag on 2019 GDP growth could be about 1.5 percentage points assuming a tariff rate of 25% on all Chinese imports
Why the Chinese yuan is falling
10/31/2018, 2:05:33 AMAs China's growth slows and the trade war with the US starts to bite, the yuan is falling to 10-year lows against the dollar. ✔ China slows, US grows The yuan's weakness is down to a number of things ✔ It grew by 6.5% in the third quarter of this year - the slowest growth since 2009 ✔ Beijing's dilemma So Beijing is caught in a bit of a bind ✔ And that's something China's government wants to avoid at all costs
China Factory Growth Weakest In Over 2 Years, Export Orders Drop
10/31/2018, 3:50:38 AMChina's manufacturing sector barely expanded in October and missed expectations, as both domestic and external demand ebbed, in a sign of deepening cracks in the economy from an intensifying trade war with the United States. ✔ 24, and U.S. President Donald Trump has threatened to hit China with more duties ✔ (Reporting by Lusha Zhang, Stella Qiu and Ryan Woo) -Reuters A laborer cuts steel bars at a railway bridge construction site in Lianyungang, Jiangsu province, China, Sept
Advancing free trade with China is the approach the United States must take
10/30/2018, 11:09:27 PMU.S. small businesses and the overall economy have benefited tremendously from the tax and regulatory relief implemented by Congress and the Trump administration. Unfortunately, President Trump’s trade policies, including a mounting trade war with China featuring higher tariffs, work against enhanced growth and opportunity. ✔ Small businesses operate on thin margins, relying on predictable pricing and cash flow to operate ✔ Property rights, after all, serve as a foundational requirement for such development ✔ • Raymond J. Keating is chief economist for the Small Business & Entrepreneurship Council
China expected to post slowing manufacturing growth in October
10/31/2018, 12:50:53 AMChina will report official manufacturing Purchasing Managers' Index for October on Wednesday. ✔ Washington and Beijing slapped additional tariffs on each other's goods on Sept ✔ China's official PMI gauge focuses on large companies and state-owned enterprises, while the private survey by Caixin and IHS Markit focus on small and medium-sized enterprises
Countering global protectionism, Pacific trade pact to start at...
10/31/2018, 3:35:44 AMA landmark 11-member deal that will slash tariffs across much of the Asia-Pacifi... ✔ The success of the deal has been touted by officials in Japan and other member countries as an antidote to counter growing U.S. protectionism ✔ They hope that Washington would eventually recommit to the pact ✔ ($1 = 1.4086 Australian dollars) Our Standards:The Thomson Reuters Trust Principles
Japan October industrial output falls as trade friction weighs
10/31/2018, 12:40:36 AMJapan's industrial output fell more than expected in September as a series ... ✔ Economists have expressed concern that high inventories of electronic parts are a sign of weak demand, which could cause manufacturers of such goods to cut future production ✔ Manufacturers surveyed by the trade ministry expect output to rise 6.0 percent in October but decline 0.8 percent in November ✔ Our Standards:The Thomson Reuters Trust Principles
U.S. diplomat says bid to decide Taiwan's future by non-peaceful...
10/31/2018, 3:51:23 AMA bid to determine the future of self-ruled Taiwan by "other than peaceful ... ✔ China has been infuriated by recent U.S. sanctions on its military, among several flashpoints in ties that include a bitter trade war, the issue of Taiwan, and China’s increasingly muscular military posture in the busy waterway of the South China Sea ✔ Our Standards:The Thomson Reuters Trust Principles
Asia stocks crawl up after a merciless October for global equities
10/31/2018, 2:42:17 AMAsian stocks pulled away from 20-month lows on Wednesday, thanks to a rebound on... ✔ REUTERS/Issei Kato A confluence of factors from Sino-U.S ✔ But he also said he had billions of dollars worth of new tariffs ready to be imposed if a deal was not possible ✔ The dollar rose to a three-week high of 113.330 yen ✔ Our Standards:The Thomson Reuters Trust Principles
Bruised and battered: Australian dollar may sink to nine-year low
10/31/2018, 12:03:49 AMThe Aussie dollar has already slumped 9 per cent this year, but a money manager says more pain is ahead. ✔ The Australian dollar is tipped to come under more pressure.Credit:AFR The Montreal-based unit of Eaton Vance Corp. is underweight the currency, saying poor consumer confidence and a weak housing market mean the Reserve Bank of Australia will be left behind by peers such as the Federal Reserve which is set to hike three or four times in 2019 ✔ They held a net short position of 31,642 contracts in the week ended October 23, after holding net longs of 19,877 at the start of May, data from the Commodity Futures Trading Commission show
Dow, S&P 500 move back into black for the year
10/30/2018, 9:08:35 PMundefined ✔ Investor concerns have been exacerbated by patchy third-quarter results from a handful of bellwether industrial companies last week, including 3M and Caterpillar, as well as disappointing outlooks from Amazon and Alphabet ✔ The dollar also benefited from the recovery in risk appetites, with the DXY dollar index touching a 16-month high
Ad revenue and video help Baidu top forecasts
10/30/2018, 9:30:36 PMundefined ✔ That came in a little higher than the midpoint of its own forecast range of Rmb27.37bn to Rmb28.77bn, but topped market forecasts for Rmb27.53bn ✔ That leaves them better placed than Nasdaq-listed peers such as JD.com, down 46 per cent, and Sina Corporation, down 41.4 per cent
Yields steady, volume low with spate of data ahead
10/30/2018, 11:45:20 PMYields on U.S. Treasury bonds were steady in light trading on Tuesday as investo... ✔ Treasury yields have fallen in October as companies have reported that tariffs, rising borrowing costs and a slowdown in China hurt earnings in the third quarter and are expected to do the same in the fourth ✔ Our Standards:The Thomson Reuters Trust Principles
Samsung warns on outlook as profit hits another record
10/31/2018, 2:38:18 AMundefined ✔ The momentum in Samsung’s semiconductor segment will be difficult to sustain over the next two quarters ✔ In the latest quarter, smartphone shipments remained flat due to a decrease in sales of mid- to low-end products, Samsung said ✔ The issue is now whether Samsung is likely to have a hard or a soft landing
Dollar holds near 16-month highs, yen down ahead of BOJ
10/31/2018, 1:48:08 AMThe dollar hovered near 16-month highs versus a basket of its major rivals after... ✔ It climbed to a 16-month high at 97.02 on Tuesday, backed by stronger than expected U.S. economic data as well as deteriorating fundamentals for the euro, which makes up around 58 percent of the index ✔ Our Standards:The Thomson Reuters Trust Principles
‘The threat is REAL’ China could ‘INTERFERE’ in the US midterm elections 2018
10/31/2018, 3:13:27 AMCHINA has “both the playbook and the capacity” to interfere in the upcoming US midterm elections, a cybersecurity expert has claimed, sparking fears Beijing could meddle in the vote. ✔ The government denied having any such intentions, but temple owners from across the island held protests in Taipei, believing the fake policy announcement ✔ Americans will go to the polls on November 6 with early voting already underway in some states ✔ The midterms will determine the balance of power in the US Congress
China's Baidu forecasts sales drop as regulation, trade fears bite
10/31/2018, 3:41:34 AMChinese search engine operator Baidu Inc on Wednesday forecast lower-than-expect... ✔ A proactive effort to improve the structure of healthcare information may impact our ad revenue in the near future, said CFO Yu ✔ Meanwhile, it is continuing to invest heavily in artificial intelligence and autonomous driving ✔ Our Standards:The Thomson Reuters Trust Principles
Asia stocks track Wall Street rebound
10/31/2018, 3:45:03 AMundefined ✔ Wednesday 02.35 GMT What you need to know Asia-Pacific stocks climb China official manufacturing PMI misses estimates Dollar hovers at 16-month high Oil prices regain ground Overview Asia-Pacific equities tracked Wall Street gains higher despite a disappointing reading on China’s manufacturing sector ✔ Despite that gain, the benchmark index is on track for its poorest one-month showing since October 2015, down 10.7 per cent
Southeast Asia's risk map: A country-by-country breakdown
10/31/2018, 3:42:36 AMMarkets wrestle with individual risk factors as global turmoil rises ✔ Vietnam (-7.8%) The leadership in this communist-ruled country has been promoting free trade and actively seeking foreign capital in recent years, efforts that international investors have welcomed ✔ An important issue in the near future will be ensuring policy consistency between the governments of Mahathir and Anwar Ibrahim, the man widely expected to succeed him as prime minister
Opinion | Democrats Struggle to Confront Trump-Era Reality
10/30/2018, 11:03:38 PMMany learned the wrong lessons from 2016 and can’t handle the successes of the administration. ✔ Come Tuesday, we’ll find out whether Democrats have learned anything from Hillary Clinton’s shocking defeat two Novembers ago ✔ There’s no doubt these midterm elections are about our current president ✔ In the Mach-speed political news cycles of the Trump era, however, a week is an eternity
Opinion | Trumponomics 101: Blame the evil and ruinous Democrats
10/31/2018, 12:28:40 AMThe theory can be summed up as “when it’s sunny, credit me; when it rains, blame them.” ✔ By Dana Milbank Dana Milbank Op-ed columnist covering national politics Email Bio Follow Columnist October 30 at 6:13 PM Tuesday morning brought a textbook illustration of Trumponomics ✔ Mao described ‘the ruthless economic exploitation and political oppression of the peasants by the landlord class,’ the White House writes
Pittsburgh, Midterms, Whitey Bulger: Your Tuesday Evening Briefing
10/30/2018, 10:33:33 PMHere’s what you need to know at the end of the day. ✔ Violent storms lashed the length of Italy early this week, leaving at least 11 people dead ✔ In Venice, locals and tourists tottered on raised walkways throughout the city, while others waded through thigh-high water and even took a swim in historic St ✔ Your Evening Briefing is posted at 6 p.m. Eastern ✔ Sign up here to get it by email in the Australian, Asian, European or American morning
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