economy
German economy: GDP shrinks in the second quarter as trade slows
GDP for the three months ended June contracted 0.1% compared to the previous quarter, in line with analyst expectations. That’s down from 0.4% growth in the first three months of the year. “Today’s GDP report definitely marks the end of a golden decade for the German economy,” said Carsten Brzeski, chief economist in Germany at …
There’s A New Systemic Threat To The World Economy
Matteo Salvini, Italy’s deputy prime minister, left, stands with Mike Pompeo, U.S. secretary of state, during a photo opportunity at the State Department in Washington, D.C., U.S., on Monday, June 17, 2019. Salvini, on his first official trip to the U.S., today meets with Pompeo and Vice President Mike Pence. Photographer: Andrew Harrer/Bloomberg © 2019 …
The most important number in markets: Here’s why traders around the world have become obsessed with a daily dispatch from China
Reuters/Petar Kujundzic On Monday, China’s central bank allowed the yuan to slide past the key psychological level of 7 per US dollar for the first time since the 2008 financial crisis. Many saw the move as retaliation for tariffs recently announced by US President Donald Trump – and markets sold off worldwide on concerns over …
China releases July 2019 trade data, exports and imports
Tonghai Port Area in Nantong, China’s Jiangsu province. Xu Congjun | Visual China Group | Getty Images China said on Thursday its U.S. dollar-denominated exports in July rose 3.3% from a year ago while imports fell 5.6% during the same period. The country’s trade surplus last month was $45.06 billion, according to customs data. Economists …
US-China trade tensions could be ‘the end of the world as we know it’
As the U.S.-China trade dispute hits another level and hammers financial markets, the bigger casualty over the longer term could be the globalization trend that has developed over the past quarter century or so. Only the European Union exports more good to the U.S. than China, making the impact of a prolonged tit-for-tat tariff potentially …
Solar and mobile technology will fuel Africa’s future economy
Backyard industrialisation has been tried; it was a miserable failure. During the so-called Great Leap Forward in China under Mao Zedong, peasants were encouraged to erect steel furnaces in their back yards. Predictably, most people had no idea how to build a mini steel plant much less make steel, and there was no market for …
Insurance, economy weigh on Berkshire Hathaway operating profit
By Jonathan Stempel (Reuters) – Berkshire Hathaway Inc <BRKa.N> on Saturday said its quarterly operating profit fell more than analysts expected, as weaker results from insurance underwriting and a slowing economy weighed on the conglomerate run by billionaire Warren Buffett. The auto insurer Geico suffered larger accident gains, while cargo volumes for consumer and agricultural …
China urges US back down after Trump’s $300 billion tariff threat
China’s President Xi Jinping and U.S. President Donald Trump attend a welcome ceremony at the Great Hall of the People in Beijing on Nov. 9, 2017. Nicolas Asfouri | AFP | Getty Images China’s foreign ministry pushed back against President Donald Trump’s latest tariff threat on Friday, reportedly saying the world’s largest economy should give …
Unclear what end game is, ex-diplomat Adelman says
Chinese President Xi Jinping and President Donald Trump at the G-20 Summit in Osaka on June 29, 2019. Brendan Smialowsi | AFP | Getty Images U.S. President Donald Trump has been extremely unpredictable and it’s not clear what the end game of his trade war with China will be, a former American ambassador told CNBC …
Tariffs on iPhones, toys and other Chinese-made goods coming Sept. 1, Trump says
“Trade talks are continuing, and during the talks the U.S. will start, on September 1st, putting a small additional tariff of 10% on the remaining 300 billion dollars of products coming from China into our country,” he tweeted. The new tariffs could hit US consumers harder than the earlier rounds. It would tax goods like …
