Trade war wipes out profit growth at Japanese automakers
11/8/2018, 10:20:14 PMHonda, Nissan and three others expect full-year slump as steel tariffs bite ✔ Nissan's first-half operating profit sank 25%, squeezed by rising materials costs ✔ Honda Motor, Nissan Motor, Suzuki Motor, Mazda Motor and Subaru are projecting a profit drop, while Toyota Motor expects profit to stay flat on the year ✔ Toyota sustained a 23% profit slide in North America in the first half
Trade war hastens key Apple supplier Pegatron's shift from China
11/9/2018, 2:20:54 AMRising labor costs also spur move to Southeast Asia ✔ People in Shanghai try out this year's new iPhones ✔ Nikkei reported on Monday that Apple has notified Foxconn, which trades as Hon Hai Precision Industry, and Pegatron that it would not need extra capacity reserved for iPhone XR, the lowest-priced new model this year
Xi's dream of surpassing US is met with fire and fury
11/8/2018, 8:17:05 PMPresident's signature trade fair did little to quell Trump's suspicion of Beijing ✔ And so the mascot of the Import Expo was a jumping, scarf-wearing panda, alongside the catchphrase New era, shared future ✔ A week earlier, on Oct. 24, Li had already presented a gloomy assessment of the Chinese economy, similar to the Politburo's, at a gathering of the All-China Federation of Trade Unions ✔ And China is now paying a high price for hastily baring its claws
The Fed Notes a Capex Slump as Trade Tensions Weigh on Spending Plans
11/8/2018, 10:12:00 PMThe Fed notes that business fixed investment “had moderated from its rapid pace earlier in the year,” when capital spending had been “growing strongly.” ✔ Fed Chairman Jerome Powell has made it clear that he doesn’t see protecting stock investors’ portfolios as part of his job ✔ In the process, the supply of debt instrument with negative yields, currently estimated at $8.5 trillion by JPMorgan, should contract and reduce the downward pull they exert on other rates
China's Xi tries to reassure the country's worried private companies
11/8/2018, 11:39:15 PMPresident Xi Jinping has offered an olive branch to China's private companies by offering tax breaks and verbal reassurance that they will remain an integral part of the economy. ✔ Thomas Peter | Reuters Chinese President Xi Jinping ✔ That reassurance comes amid an environment in which privately owned enterprises have taken a hit from banks constricting lending in a national effort to rein in debt ✔ Xie told CNBC on Thursday that state-owned enterprises have become emboldened by an environment that stresses politics above everything else in the last five years
Japanese firms see U.S. trade talks boosting exports despite Trump...
11/8/2018, 11:16:01 PMHalf of Japanese companies expect new trade talks with Washington to boost their... ✔ Underlying such concerns are fears that Washington might link trade with foreign exchange policy and monetary easing and accuse Japan of keeping the yen artificially weak ✔ In January 2017, Trump alleged that Japan used its money supply to weaken the yen and give exporters an unfair trade advantage ✔ Our Standards:The Thomson Reuters Trust Principles
Trump’s tariffs squeezed Canada. Now American beer is feeling the pinch.
11/8/2018, 8:40:53 PMAs the price of imported aluminum rises, so does the cost of each can. ✔ Though many U.S. businesses support the idea of taking a tough line with Beijing, members of Trump’s Cabinet, economic advisers and industry groups warned that tariffs would create uncertainty and increase costs for U.S. companies that import goods ✔ But it definitely has unintended consequences for small businesses like ours
Kenya lawmaker targets foreign firms, decries China
11/8/2018, 11:08:59 PMNAIROBI-- A lawmaker from Kenya's ruling party has proposed limiting foreign involvement in public c ✔ Spokespeople for Jubilee and Kenya's trade ministry did not immediately return several calls and emails requesting comment ✔ Gachagua said China was using its position as a lender to give its firms an unfair advantage over their local counterparts when it comes to competing for contracts ✔ They have taken all the businesses and they are also buying all the goods from China, he said
Wall Street falls after Fed statement, energy shares tumble
11/8/2018, 9:33:41 PMThe S&P 500 and Nasdaq closed slightly lower on Thursday after a Federal Reserve... ✔ Quincy Krosby, chief market strategist at Prudential Financial in Newark, New Jersey said companies were holding off on spending because of uncertainty over a U.S.-China trade war ✔ A slowdown in business spending can slow the underpinning of the stock market, Krosby said ✔ Our Standards:The Thomson Reuters Trust Principles
Billion-dollar tech startups hold promise for China's economy
11/9/2018, 3:35:43 AMFour cities provide greenest pastures for burgeoning number of unicorns ✔ Virtually every week, individual investors can attend events to connect them with startups ✔ At one in Hangzhou in early September, a fitness venture raised about $444,000 with a six-minute presentation ✔ Nikkei staff writers Daisuke Harashima in Dalian, Takashi Kawakami in Guangzhou and Tsubasa Suruga in Tokyo contributed to this report
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