Mainly wealthy investors would benefit from lower capital gains taxes on investments

After seeing headlines this week about a new tax proposal out of the Treasury Department, some investors might be wondering: Will I get to pay less? Last month, Steven Mnuchin, the Treasury secretary, said he was considering whether his department had the power to permit Americans to factor in inflation in calculations of their capital gains taxes. And even if the proposal succeeds, it wouldn’t reach many wallets, said Daniel Hemel, assistant professor at The University of Chicago Law School. “F


After seeing headlines this week about a new tax proposal out of the Treasury Department, some investors might be wondering: Will I get to pay less? Last month, Steven Mnuchin, the Treasury secretary, said he was considering whether his department had the power to permit Americans to factor in inflation in calculations of their capital gains taxes. And even if the proposal succeeds, it wouldn’t reach many wallets, said Daniel Hemel, assistant professor at The University of Chicago Law School. “F
Mainly wealthy investors would benefit from lower capital gains taxes on investments Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-01  Authors: annie nova, kevin lamarque, andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, taxes, proposal, gains, mainly, investors, pay, department, lower, capital, wealthy, benefit, treasury, tax, hemel, wouldnt, investments


Mainly wealthy investors would benefit from lower capital gains taxes on investments

After seeing headlines this week about a new tax proposal out of the Treasury Department, some investors might be wondering: Will I get to pay less?

Probably not.

Last month, Steven Mnuchin, the Treasury secretary, said he was considering whether his department had the power to permit Americans to factor in inflation in calculations of their capital gains taxes.

The plan already has critics who argue the change is outside of the Treasury’s authority and it’s likely to be challenged in court.

And even if the proposal succeeds, it wouldn’t reach many wallets, said Daniel Hemel, assistant professor at The University of Chicago Law School.

“For ordinary investors, it won’t make much of a difference,” Hemel said. “Their primary investments are in their 401(k), individual retirement accounts and life insurance, and they’re not going to pay capital gains tax there anyway.”


Company: cnbc, Activity: cnbc, Date: 2018-08-01  Authors: annie nova, kevin lamarque, andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, taxes, proposal, gains, mainly, investors, pay, department, lower, capital, wealthy, benefit, treasury, tax, hemel, wouldnt, investments


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China’s Huawei pulls ahead of Apple to become number-two smartphone seller in the world

Apple reported strong results for its fiscal third quarter on Tuesday but the iPhone-maker lost its position as the world’s number-two smartphone vendor, according to multiple analyses. According to preliminary IDC data, Huawei shipped about 54.2 million handsets for the quarter, registering a 40.9 percent on-year growth. Meanwhile, Apple shipped about 41.3 million units for 0.7 percent growth against the comparable year-ago period. Those numbers put Huawei with 15.8 percent share of the market


Apple reported strong results for its fiscal third quarter on Tuesday but the iPhone-maker lost its position as the world’s number-two smartphone vendor, according to multiple analyses. According to preliminary IDC data, Huawei shipped about 54.2 million handsets for the quarter, registering a 40.9 percent on-year growth. Meanwhile, Apple shipped about 41.3 million units for 0.7 percent growth against the comparable year-ago period. Those numbers put Huawei with 15.8 percent share of the market
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Company: cnbc, Activity: cnbc, Date: 2018-08-01  Authors: saheli roy choudhury, joan cros, nurphoto, getty images
Keywords: news, cnbc, companies, world, numbertwo, million, smartphones, research, apple, pulls, reported, huawei, shipped, seller, according, quarter, smartphone, chinas, ahead


China's Huawei pulls ahead of Apple to become number-two smartphone seller in the world

Apple reported strong results for its fiscal third quarter on Tuesday but the iPhone-maker lost its position as the world’s number-two smartphone vendor, according to multiple analyses.

Research firms International Data Corporation (IDC), Counterpoint Research, IHS Markit and Canalys all reported that Chinese smartphone maker Huawei leapfrogged Apple to second place, based on the number of devices both firms shipped in the quarter that ended on June 30.

According to preliminary IDC data, Huawei shipped about 54.2 million handsets for the quarter, registering a 40.9 percent on-year growth. Meanwhile, Apple shipped about 41.3 million units for 0.7 percent growth against the comparable year-ago period.

The iPhone-maker missed Wall Street’s estimate of 41.79 million devices for the quarter.

Those numbers put Huawei with 15.8 percent share of the market and Apple with 12.1 percent, according to IDC.

Analysts said that Huawei was adding more top-end features into its flagship smartphones. For example, the company added three cameras on its P20 Pro device. As a result, Huawei is getting “increasing brand recognition in Europe and Asia” that is allowing the company to challenge the likes of Samsung in many price tiers, according to Gerrit Schneemann, senior research analyst for smartphones at IHS Markit.


Company: cnbc, Activity: cnbc, Date: 2018-08-01  Authors: saheli roy choudhury, joan cros, nurphoto, getty images
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Yuan, Aussie slip on US tariff report; yen on defensive

The yen gained slightly on the news although the Japanese currency stayed on the defensive after the central bank pledged to keep rates low for an extended period of time while deciding to be more flexible in its yield curve control. The yuan dropped 0.35 percent in early trade to 6.8271 per dollar after Bloomberg reported on Washington’s new tariff plans, which would heighten trade tensions with China. But analysts say Japanese bond yields are likely to stay low in the near-term, capping the ye


The yen gained slightly on the news although the Japanese currency stayed on the defensive after the central bank pledged to keep rates low for an extended period of time while deciding to be more flexible in its yield curve control. The yuan dropped 0.35 percent in early trade to 6.8271 per dollar after Bloomberg reported on Washington’s new tariff plans, which would heighten trade tensions with China. But analysts say Japanese bond yields are likely to stay low in the near-term, capping the ye
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Keywords: news, cnbc, companies, point, report, boj, yen, dollar, low, slip, tariff, test, yuan, rates, trade, japanese, defensive, aussie


Yuan, Aussie slip on US tariff report; yen on defensive

The Chinese yuan dropped in offshore trade and the Australian dollar slipped on Wednesday on a report the U.S. administration will propose raising its planned tariffs on $200 billion Chinese imports to 25 percent.

The yen gained slightly on the news although the Japanese currency stayed on the defensive after the central bank pledged to keep rates low for an extended period of time while deciding to be more flexible in its yield curve control.

The yuan dropped 0.35 percent in early trade to 6.8271 per dollar after Bloomberg reported on Washington’s new tariff plans, which would heighten trade tensions with China.

The Australian dollar also dipped 0.15 percent in sympathy to $0.7417.

The U.S. dollar dipped 0.1 percent against the yen to 111.74 though it still maintained a large part of its 0.73 percent gains made on Tuesday following the BOJ’s forward guidance on rates.

The BOJ said it would keep long-term and short-term interest rates for an extended period of time, taking into account consumption tax hike planned in October 2019, leading traders to think any hikes will be off the table at least until then.

BOJ Governor Haruhiko Kuroda said the central bank would allow the 10-year Japanese government bond to trade 0.2 percentage point away from zero percent, compared to just 0.1 percentage point in the past.

But analysts say Japanese bond yields are likely to stay low in the near-term, capping the yen.

“The market may eventually test 0.20 percent but at the moment, because the BOJ has bought a large amount of JGBs in recent special operations, market players don’t have JGBs to sell even if they want to,” said Yukio Ishizuki, senior strategist at Daiwa Securities.

“With the BOJ out of the way, we don’t have reasons to buy the yen. I expect the yen to test this year’s low around 113 yen to the dollar,” he added.


Company: cnbc, Activity: cnbc, Date: 2018-08-01  Authors: china photos, getty images
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US-China trade war: Trump to propose 25% tariff on Chinese imports

President Donald Trump’s administration said on July 10 it would seek to impose the 10-percent tariffs on thousands of Chinese imports. In early July, the U.S. government imposed 25-percent tariffs on an initial $34 billion of Chinese imports. “Given the scope of the products covered, about half of all imports from China are facing tariffs, including consumer goods,” Ennis said. He also has threatened a further round of tariffs on $300 billion of Chinese goods. The combined total of over $500 bi


President Donald Trump’s administration said on July 10 it would seek to impose the 10-percent tariffs on thousands of Chinese imports. In early July, the U.S. government imposed 25-percent tariffs on an initial $34 billion of Chinese imports. “Given the scope of the products covered, about half of all imports from China are facing tariffs, including consumer goods,” Ennis said. He also has threatened a further round of tariffs on $300 billion of Chinese goods. The combined total of over $500 bi
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Company: cnbc, Activity: cnbc, Date: 2018-08-01  Authors: johannes eisele, afp, getty images
Keywords: news, cnbc, companies, propose, tariffs, goods, 25, public, products, uschina, tariff, chinese, trade, imports, war, trump, billion


US-China trade war: Trump to propose 25% tariff on Chinese imports

The Trump administration plans to propose slapping a 25-percent tariff on $200 billion of imported Chinese goods after initially setting them at 10 percent, in a bid to pressure Beijing into making trade concessions, a source familiar with the plan said on Tuesday.

President Donald Trump’s administration said on July 10 it would seek to impose the 10-percent tariffs on thousands of Chinese imports.

They include food products, chemicals, steel and aluminum and consumer goods ranging from dog food, furniture and carpets to car tires, bicycles, baseball gloves and beauty products.

While the tariffs would not be imposed until after a period of public comment, raising the proposed level to 25 percent could escalate the trade dispute between the world’s two biggest economies.

The source said the Trump administration could announce the tougher proposal as early as Wednesday. The plan to more than double the tariff rate was first reported by Bloomberg News.

There was no immediate reaction from the Chinese government.

In July it accused the United States of bullying and warned it would hit back. Investors fear an escalating trade war between Washington and Beijing could hit global growth, and prominent U.S. business groups have condemned Trump’s aggressive tariffs.

A spokeswoman for the U.S. Trade Representative’s Office declined to comment on the proposed tariff rate increase or on whether changing them would alter the deadlines laid out for comment period before implementation.

In early July, the U.S. government imposed 25-percent tariffs on an initial $34 billion of Chinese imports. Beijing retaliated with matching tariffs on the same amount of U.S. exports to China.

Washington is preparing to also impose tariffs on an extra $16 billion of goods in coming weeks, and Trump has warned he may ultimately put them on over half a billion dollars of goods — roughly the total amount of U.S. imports from China last year.

The $200 billion list of goods targeted for tariffs — which also include Chinese tilapia fish, printed circuit boards and lighting products — would have a bigger impact on consumers than previous rounds of tariffs.

Erin Ennis, senior vice president of the U.S. China Business Council, said a 10 percent tariff on these products is already problematic, but more than doubling that to 25 percent would be much worse.

“Given the scope of the products covered, about half of all imports from China are facing tariffs, including consumer goods,” Ennis said. “The cost increases will be passed on to customers, so it will affect most Americans pocketbooks.”

Trump had said he would implement the $200 billion round as punishment for China’s retaliation against the initial tariffs aimed at forcing change in China’s joint venture, technology transfer and other trade-related policies.

He also has threatened a further round of tariffs on $300 billion of Chinese goods. The combined total of over $500 billion of goods would cover virtually all Chinese imports into the United States.

The U.S. Trade Representative’s office initially had set a deadline for final public comments on the 10 percent proposed tariffs to be filed by Aug. 30, with public hearings scheduled for Aug. 20-23.

It typically has taken several weeks after the close of public comments for the tariffs to be activated.


Company: cnbc, Activity: cnbc, Date: 2018-08-01  Authors: johannes eisele, afp, getty images
Keywords: news, cnbc, companies, propose, tariffs, goods, 25, public, products, uschina, tariff, chinese, trade, imports, war, trump, billion


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European bourses open mixed amid fresh earnings

French bank BNP Paribas has just published its second-quarter earnings report. Steel manufacturer ArcelorMittal will publish its second quarter earnings data, while U.K.-listed miner Rio Tinto will also report interim results. Other blue chips set to report include Air France-KLM, VW, Lloyds, BAE Systems and Man Group. Markit manufacturing PMIs for July will be published for the European area on Wednesday morning, as well as its individual major economies. Stateside, the U.S. Federal Reserve is


French bank BNP Paribas has just published its second-quarter earnings report. Steel manufacturer ArcelorMittal will publish its second quarter earnings data, while U.K.-listed miner Rio Tinto will also report interim results. Other blue chips set to report include Air France-KLM, VW, Lloyds, BAE Systems and Man Group. Markit manufacturing PMIs for July will be published for the European area on Wednesday morning, as well as its individual major economies. Stateside, the U.S. Federal Reserve is
European bourses open mixed amid fresh earnings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-01  Authors: silvia amaro, justina crabtree
Keywords: news, cnbc, companies, report, fresh, bank, mixed, amid, uk, published, bourses, worlds, vw, european, uklisted, earnings, war, open, talks


European bourses open mixed amid fresh earnings

The anticipated lower open contrasts with positive sentiment in Asia and a higher close in U.S. markets, with both regions’ stocks boosted by news that China and the U.S. may recommence talks over a tit-for-tat war on import tariffs.

Wednesday is busy for corporate releases in Europe.

French bank BNP Paribas has just published its second-quarter earnings report. Italian insurer Generali and investment bank Mediobanca are also to report their latest numbers. Steel manufacturer ArcelorMittal will publish its second quarter earnings data, while U.K.-listed miner Rio Tinto will also report interim results. Other blue chips set to report include Air France-KLM, VW, Lloyds, BAE Systems and Man Group.

Markit manufacturing PMIs for July will be published for the European area on Wednesday morning, as well as its individual major economies.

Concerning politics in Europe, U.K. Prime Minister Theresa May is to hold Brexit talks with French President Emmanuel Macron in France on Friday, Downing Street has said.

Stateside, the U.S. Federal Reserve is to release its decision on interests rates for the world’s largest economy at 2 p.m. E.D.T.


Company: cnbc, Activity: cnbc, Date: 2018-08-01  Authors: silvia amaro, justina crabtree
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China aims for stable economy as Trump tariffs hit, export orders fall

China’s top leaders on Tuesday pledged economic stability just as data from the world’s second-largest economy suggested that the country was starting to feel a pinch from U.S. tariffs. The Chinese economy is facing “some new problems and new challenges,” said the statement carried by state-run Xinhua news agency. “China’s top policy makers are clearly concerned about two issues: the sharp slowdown of credit growth and the uncertainty due to the trade war. However, Beijing will continue to keep


China’s top leaders on Tuesday pledged economic stability just as data from the world’s second-largest economy suggested that the country was starting to feel a pinch from U.S. tariffs. The Chinese economy is facing “some new problems and new challenges,” said the statement carried by state-run Xinhua news agency. “China’s top policy makers are clearly concerned about two issues: the sharp slowdown of credit growth and the uncertainty due to the trade war. However, Beijing will continue to keep
China aims for stable economy as Trump tariffs hit, export orders fall Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-01  Authors: huileng tan, thomas peter, pool, getty images
Keywords: news, cnbc, companies, hit, stable, tariffs, employment, economic, economy, orders, economists, aims, growth, china, export, statement, fall, trade, trump, policy, chinas, beijing


China aims for stable economy as Trump tariffs hit, export orders fall

China’s top leaders on Tuesday pledged economic stability just as data from the world’s second-largest economy suggested that the country was starting to feel a pinch from U.S. tariffs.

In a statement carried by China’s state media after a meeting of the Politburo, a top decision-making body of the ruling Communist Party, Beijing said it will take targeted measures to solve issues in the economy.

The Chinese economy is facing “some new problems and new challenges,” said the statement carried by state-run Xinhua news agency.

“There are obvious changes in the external environment,” the statement added. It did not specifically mention China’s ongoing trade war with the U.S.

“We must do a good job in stabilizing employment, finance, foreign trade and investment, and expectations,” the statement added.

Analysts said the Politburo’s communication suggests that Beijing will be fine-tuning its economic policies. Some form of easing is expected.

“China’s top policy makers are clearly concerned about two issues: the sharp slowdown of credit growth and the uncertainty due to the trade war. As such, they called for more proactive fiscal policy and infrastructure spending,” Macquarie economists Larry Hu and Irene Wu wrote in a note.

However, Beijing will continue to keep a lid on debt, as the statement reaffirmed, the economists added. That could change if the employment situation in the country worsens.

“The statement also offers some clues as it mentioned stabilizing employment twice. In other words, if the unemployment problem becomes severe, a policy U-turn could happen from deleveraging to boosting growth. Clearly we are not there yet,” the Macquarie economists added.

Beijing’s economic growth target for 2018 is around 6.5 percent.

This year, China posted second-quarter GDP growth of 6.7 percent from a year ago, slightly lower than 6.8 percent in the first quarter of 2018.

Even before the ongoing trade dispute with Washington, the Chinese government was already managing a slowdown in its economy as Beijing cracked down on high debt levels and heavily polluting industries.


Company: cnbc, Activity: cnbc, Date: 2018-08-01  Authors: huileng tan, thomas peter, pool, getty images
Keywords: news, cnbc, companies, hit, stable, tariffs, employment, economic, economy, orders, economists, aims, growth, china, export, statement, fall, trade, trump, policy, chinas, beijing


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Gold steady ahead of Fed statement

Spot gold was unchanged at $1,223.45 an ounce at 0050 GMT, after hitting the lowest since July 19 at $1,214.40 overnight. U.S. gold futures were 0.1 percent lower at $1,222.40 an ounce. The dollar index, which measures the greenback against a basket of six major currencies, was steady at 94.537. China will keep its economic growth within a reasonable range and achieve this year’s target despite challenges, the state-run Xinhua news agency said on Tuesday as a trade war with the United States int


Spot gold was unchanged at $1,223.45 an ounce at 0050 GMT, after hitting the lowest since July 19 at $1,214.40 overnight. U.S. gold futures were 0.1 percent lower at $1,222.40 an ounce. The dollar index, which measures the greenback against a basket of six major currencies, was steady at 94.537. China will keep its economic growth within a reasonable range and achieve this year’s target despite challenges, the state-run Xinhua news agency said on Tuesday as a trade war with the United States int
Gold steady ahead of Fed statement Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-01  Authors: source, world gold council
Keywords: news, cnbc, companies, fed, interest, united, economic, steady, states, inflation, trade, statement, war, growth, gold, unchanged, ahead


Gold steady ahead of Fed statement

Gold prices were steady early Wednesday, after slipping to a near two-week low in the previous session, as investors waited for the outcome of the U.S. Federal Reserve’s monetary policy meeting for outlook on interest rates.

Spot gold was unchanged at $1,223.45 an ounce at 0050 GMT, after hitting the lowest since July 19 at $1,214.40 overnight.

U.S. gold futures were 0.1 percent lower at $1,222.40 an ounce.

The Federal Reserve is expected to keep interest rates unchanged on Wednesday, but solid economic growth combined with rising inflation are likely to keep it on track for another two hikes this year even as President Donald Trump has ramped up criticism of its push to raise rates.

U.S. consumer spending increased solidly in June as households spent more at restaurants and on accommodation, building a strong base for the economy heading into the third quarter, while inflation rose moderately.

The Chinese yuan dropped in offshore trade and the Australian dollar slipped on Wednesday on a report the U.S. administration will propose raising its planned tariffs on $200 billion Chinese imports to 25 percent.

The dollar index, which measures the greenback against a basket of six major currencies, was steady at 94.537.

China will keep its economic growth within a reasonable range and achieve this year’s target despite challenges, the state-run Xinhua news agency said on Tuesday as a trade war with the United States intensifies.

The Bank of England should raise interest rates this week but also tell the public it will be ready to make a U-turn if Brexit talks sour or trade tensions with the United States escalate, the National Institute of Economic and Social Research said on Wednesday.

The Bank of Japan pledged to keep its massive stimulus in place but made tweaks to reduce adverse effects of its policies on markets and commercial banks, reflecting the central bank’s view that its inflation target remains stubbornly out of reach.

Euro zone economic growth slowed further in the second quarter, preliminary data showed, on what economists said were concerns over a possible trade war with the United States.


Company: cnbc, Activity: cnbc, Date: 2018-08-01  Authors: source, world gold council
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Oil extends decline after biggest monthly slump in two years

Oil prices fell on Wednesday after industry data showed U.S. stockpiles of crude unexpectedly rose, starting the new month in negative territory after the largest monthly decline in two years in July. October Brent crude futures dropped 29 cents, or 0.4 percent, to $73.92 a barrel by 0044 GMT, adding to a 1.8 percent loss in the previous session. U.S. crude futures were down 44 cents, or 0.6 percent, at $68.32 a barrel, having dropped nearly 2 percent on Tuesday. Brent fell more than 6 percent i


Oil prices fell on Wednesday after industry data showed U.S. stockpiles of crude unexpectedly rose, starting the new month in negative territory after the largest monthly decline in two years in July. October Brent crude futures dropped 29 cents, or 0.4 percent, to $73.92 a barrel by 0044 GMT, adding to a 1.8 percent loss in the previous session. U.S. crude futures were down 44 cents, or 0.6 percent, at $68.32 a barrel, having dropped nearly 2 percent on Tuesday. Brent fell more than 6 percent i
Oil extends decline after biggest monthly slump in two years Cached Page below :
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Oil extends decline after biggest monthly slump in two years

Oil prices fell on Wednesday after industry data showed U.S. stockpiles of crude unexpectedly rose, starting the new month in negative territory after the largest monthly decline in two years in July.

October Brent crude futures dropped 29 cents, or 0.4 percent, to $73.92 a barrel by 0044 GMT, adding to a 1.8 percent loss in the previous session.

U.S. crude futures were down 44 cents, or 0.6 percent, at $68.32 a barrel, having dropped nearly 2 percent on Tuesday.

Brent fell more than 6 percent in July, while U.S. crude futures slumped about 7 percent, the biggest monthly decline for both benchmarks since July 2016.

Data from the American Petroleum Institute showed domestic crude inventories rose by 5.6 million barrels last week. A Reuters poll had forecast a fall of 2.8 million barrels.

Official data from the U.S. Energy Information Administration is due later on Wednesday.

Signs that a supply disruption in the Bab al-Mandeb Strait in the Red Sea could be resolved also weighed on prices.

Yemen’s Houthi group said it was ready to unilaterally halt attacks in the Red Sea to support peace efforts. Saudi Arabia suspended oil shipments through the strait last week after the Houthis attacked two Saudi oil tankers.

A Reuters poll showed that oil prices are likely to hold fairly steady this year and next as increased output from OPEC and the United States meets growing demand led by Asia and helps to offset supply disruptions.

OPEC has pledged to offset the loss of supply from Iran, the group’s third-biggest producer.

Looming U.S. sanctions have already started to cut Iranian exports, with buyers from its biggest customers in Asia cutting imports to a seven-month low in June.


Company: cnbc, Activity: cnbc, Date: 2018-08-01  Authors: getty images
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US State Department still predicts North Korean denuclearization — despite reports of new missiles

The U.S. State Department expects North Korea to continue its march toward denuclearization, a promise made by the rogue regime in June to U.S. President Donald Trump. The comments come on the heels of a Washington Post report that cited U.S. intelligence officials claiming North Korea has yet to stop producing new ballistic missiles. The State Department and the Pentagon declined to comment on the intelligence assessments regarding North Korea’s missile program. The Washington Post report comes


The U.S. State Department expects North Korea to continue its march toward denuclearization, a promise made by the rogue regime in June to U.S. President Donald Trump. The comments come on the heels of a Washington Post report that cited U.S. intelligence officials claiming North Korea has yet to stop producing new ballistic missiles. The State Department and the Pentagon declined to comment on the intelligence assessments regarding North Korea’s missile program. The Washington Post report comes
US State Department still predicts North Korean denuclearization — despite reports of new missiles Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-01  Authors: amanda macias, str, afp getty images
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US State Department still predicts North Korean denuclearization — despite reports of new missiles

The U.S. State Department expects North Korea to continue its march toward denuclearization, a promise made by the rogue regime in June to U.S. President Donald Trump.

“What we are going on is the commitment that Chairman Kim (Jong Un) made to our president, and that is the commitment to denuclearize. That is something that we certainly anticipate that he will hold up his end of the bargain,” State Department spokeswoman Heather Nauert told reporters on Tuesday.

The comments come on the heels of a Washington Post report that cited U.S. intelligence officials claiming North Korea has yet to stop producing new ballistic missiles. The report also showed satellite imagery suggesting Pyongyang was continuing to develop develop intercontinental ballistic missiles despite Kim’s commitment to Trump in Singapore.

Arms control experts confirmed to NBC News that both satellite photos and U.S. intelligence assessments show that the rogue regime is sprinting to add more missiles to its budding arsenal. The State Department and the Pentagon declined to comment on the intelligence assessments regarding North Korea’s missile program.

The Washington Post report comes less than two months after Trump tweeted that North Korea no long posed a nuclear threat.

“There is no longer a Nuclear Threat from North Korea. Meeting with Kim Jong Un was an interesting and very positive experience. North Korea has great potential for the future!,” Trump wrote a day after meeting with Kim in Singapore.

Secretary of State Mike Pompeo acknowledged in Senate testimony last week that North Korea is still making fissile material that is used in making nuclear weapons.

“Yes, they [North Korea] continue to produce fissile material, yes,” he said, adding that he could not elaborate further on the matter publicly due to the sensitive nature of the matter.

Read more: A timeline of North Korea’s defiant rocket launches in 2017

Meanwhile, the top U.S. military commander on the Korean Peninsula said in July that the material needed for North Korea to make nuclear bombs is still intact, even after the historic summit in Singapore aimed at denuclearizing Pyongyang.

North Korea’s nuclear “production capability is still intact,” Army Gen. Vincent Brooks, the commander of U.S. forces in South Korea, told the recent Aspen Security Forum via teleconference. “We haven’t seen a complete shutdown of production yet. We have not seen a removal of fuel rods.”

Under Kim, the reclusive state has conducted its most powerful nuclear test, launched its first-ever intercontinental ballistic missile, and threatened to send missiles into the waters near Guam.

Since 2011, North Korea has fired more than 85 missiles and conducted four nuclear weapons tests — which is more than what his father, Kim Jong Il, and grandfather, Kim Il Sung, launched over a period of 27 years.

North Korea remains the only nation to have tested nuclear weapons this century.


Company: cnbc, Activity: cnbc, Date: 2018-08-01  Authors: amanda macias, str, afp getty images
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Major markets in Asia rise amid hope for US-China trade dispute

The advance followed news that the U.S. and China are attempting to restart trade talks. For July, U.S. stocks recorded their largest monthly gains since January amid robust corporate earnings and economic data. In currencies, the dollar held onto overnight gains ahead of the conclusion of the Federal Reserve’s policy meeting, with overnight news related to trade also supporting the currency. Against the yen, the dollar traded at 111.83 at 8:23 a.m. HK/SIN. The Japanese currency was stable after


The advance followed news that the U.S. and China are attempting to restart trade talks. For July, U.S. stocks recorded their largest monthly gains since January amid robust corporate earnings and economic data. In currencies, the dollar held onto overnight gains ahead of the conclusion of the Federal Reserve’s policy meeting, with overnight news related to trade also supporting the currency. Against the yen, the dollar traded at 111.83 at 8:23 a.m. HK/SIN. The Japanese currency was stable after
Major markets in Asia rise amid hope for US-China trade dispute Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-01  Authors: cheang ming
Keywords: news, cnbc, companies, asia, uschina, traded, rise, took, markets, gains, hope, overnight, tariffs, chinese, trade, talks, china, major, dispute, amid, dollar


Major markets in Asia rise amid hope for US-China trade dispute

Elsewhere, Australia’s S&P/ASX 200 drifted higher by 0.06 percent as moderate gains in materials were offset by declines in the heavily weighted financials subindex.

The advance followed news that the U.S. and China are attempting to restart trade talks.

Representatives of U.S. Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He are in private talks to resume negotiations on trade matters in a bid to avoid a trade war, Bloomberg News reported, citing two sources. Mnuchin had told CNBC last week that “quiet conversations” with Beijing continued to take place.

The latest development in the trade dispute between the world’s two largest economies came after U.S. tariffs on $34 billion worth of Chinese goods took effect early in July, a move that was swiftly met with retaliation from Beijing.

“Markets took some relief on news that trade talks between the U.S. and China could be back on the menu as the U.S. gears up to impose tariffs on another $16 billion of Chinese imports — a move that will likely be met with an equal-sized retaliatory measure by China,” ANZ Head of FX Research Daniel Been said in a note, adding that details were lacking.

Gains in the region came after Wall Street advanced on Tuesday, which was also the last trading day of the month. For July, U.S. stocks recorded their largest monthly gains since January amid robust corporate earnings and economic data.

Around 60 percent of S&P 500 companies having already reported results, with 82 percent of those announcing expectation-topping earnings, according to Thomson Reuters I/B/E/S.

In currencies, the dollar held onto overnight gains ahead of the conclusion of the Federal Reserve’s policy meeting, with overnight news related to trade also supporting the currency. The dollar index, which tracks the greenback against a basket of currencies, last traded at 94.550.

Against the yen, the dollar traded at 111.83 at 8:23 a.m. HK/SIN. The Japanese currency was stable after softening overnight when the Bank of Japan kept policy steady and made some minor communication tweaks.


Company: cnbc, Activity: cnbc, Date: 2018-08-01  Authors: cheang ming
Keywords: news, cnbc, companies, asia, uschina, traded, rise, took, markets, gains, hope, overnight, tariffs, chinese, trade, talks, china, major, dispute, amid, dollar


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