GM lays off 6,000 additional workers in Mexico due to UAW strike

Leaked Facebook audio is a sign of decreased morale, former… If current employees are going into the all-hands meetings and recording audio of their CEO, that is a sign that employee morale is in the dumps, multiple former Facebook…Technologyread more


Leaked Facebook audio is a sign of decreased morale, former… If current employees are going into the all-hands meetings and recording audio of their CEO, that is a sign that employee morale is in the dumps, multiple former Facebook…Technologyread more
GM lays off 6,000 additional workers in Mexico due to UAW strike Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-01  Authors: michael wayland
Keywords: news, cnbc, companies, additional, workers, mexico, lays, recording, audio, morale, formerif, sign, leaked, going, strike, meetings, uaw, 6000, facebooktechnologyread, multiple


GM lays off 6,000 additional workers in Mexico due to UAW strike

Leaked Facebook audio is a sign of decreased morale, former…

If current employees are going into the all-hands meetings and recording audio of their CEO, that is a sign that employee morale is in the dumps, multiple former Facebook…

Technology

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Company: cnbc, Activity: cnbc, Date: 2019-10-01  Authors: michael wayland
Keywords: news, cnbc, companies, additional, workers, mexico, lays, recording, audio, morale, formerif, sign, leaked, going, strike, meetings, uaw, 6000, facebooktechnologyread, multiple


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Pentagon to deploy Patriot missile system to Saudi Arabia after Iran oil attacks

Soldiers talk after a routine inspection of a Patriot missile battery at a Turkish military base in Gaziantep, Turkey. Defense Secretary Mark Esper has “approved putting additional forces on prepare to deploy orders,” Pentagon spokesman Jonathan Hoffman wrote in a statement. “While no decision has been made to deploy these additional forces, they will maintain a heightened state of readiness.” Those additional forces include two Patriot missile artillery batteries and one Terminal High Altitude


Soldiers talk after a routine inspection of a Patriot missile battery at a Turkish military base in Gaziantep, Turkey. Defense Secretary Mark Esper has “approved putting additional forces on prepare to deploy orders,” Pentagon spokesman Jonathan Hoffman wrote in a statement. “While no decision has been made to deploy these additional forces, they will maintain a heightened state of readiness.” Those additional forces include two Patriot missile artillery batteries and one Terminal High Altitude
Pentagon to deploy Patriot missile system to Saudi Arabia after Iran oil attacks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-26  Authors: amanda macias
Keywords: news, cnbc, companies, iran, deploy, pentagon, patriot, defense, hoffman, forces, thaad, missile, attacks, wrote, oil, saudi, additional, arabia, system


Pentagon to deploy Patriot missile system to Saudi Arabia after Iran oil attacks

U.S. Soldiers talk after a routine inspection of a Patriot missile battery at a Turkish military base in Gaziantep, Turkey.

WASHINGTON — The Pentagon on Thursday announced that the U.S. will send a Patriot missile battery, radars and roughly 200 support personnel to Saudi Arabia in the wake of the attacks on its oil facilities earlier this month.

Defense Secretary Mark Esper has “approved putting additional forces on prepare to deploy orders,” Pentagon spokesman Jonathan Hoffman wrote in a statement. “While no decision has been made to deploy these additional forces, they will maintain a heightened state of readiness.”

Those additional forces include two Patriot missile artillery batteries and one Terminal High Altitude Area Defense, or THAAD missile defense system.

THAAD, one of the world’s most advanced missile systems, can target incoming missiles and blast them out of the sky. THAAD interceptors, fired from a truck-based launcher, use kinetic energy to deliver “hit to kill” strikes to ballistic threats.

“It is important to note these steps are a demonstration of our commitment to regional partners, and the security and stability in the Middle East. Other countries have called out Iranian misadventures in the region, and we look for them to reinforce Saudi Arabia’s defense,” Hoffman wrote.


Company: cnbc, Activity: cnbc, Date: 2019-09-26  Authors: amanda macias
Keywords: news, cnbc, companies, iran, deploy, pentagon, patriot, defense, hoffman, forces, thaad, missile, attacks, wrote, oil, saudi, additional, arabia, system


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China exempts 16 American products from additional tariffs — here’s the full list

Washington and Beijing have imposed tariffs on billions of dollars’ worth of one another’s goods since the start of 2018, battering financial markets and souring business and consumer sentiment. For products on “List 1,” including fish meal for feed, shrimp and prawn seedlings and cancer drugs, tariffs already imposed will be refunded. For products on “List 2,” including whey for feed and lubricating base oil, tariffs were said to be non-refundable. Lubricating oil. Decitabine, fluorouridine, cy


Washington and Beijing have imposed tariffs on billions of dollars’ worth of one another’s goods since the start of 2018, battering financial markets and souring business and consumer sentiment. For products on “List 1,” including fish meal for feed, shrimp and prawn seedlings and cancer drugs, tariffs already imposed will be refunded. For products on “List 2,” including whey for feed and lubricating base oil, tariffs were said to be non-refundable. Lubricating oil. Decitabine, fluorouridine, cy
China exempts 16 American products from additional tariffs — here’s the full list Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-11  Authors: sam meredith
Keywords: news, cnbc, companies, tariffs, meal, including, oil, imposed, products, exempts, china, american, lubricating, hydrochloride, feed, additional, heres, list


China exempts 16 American products from additional tariffs — here's the full list

Containers sit at the Yangshan Port in Shanghai, China, Aug. 6, 2019.

China’s Ministry of Finance announced plans to exempt 16 types of U.S. products from additional tariffs on Wednesday, including food for livestock, cancer drugs and lubricants.

The exemption, which is scheduled to go into effect from September 17, will be valid for a year through to September 16, 2020.

The announcement comes as high-level trade officials from China and the U.S. prepare to meet in Washington next month. It will mark their latest attempt to resolve a protracted trade dispute. Washington and Beijing have imposed tariffs on billions of dollars’ worth of one another’s goods since the start of 2018, battering financial markets and souring business and consumer sentiment.

The State Council Tariff Commission said on the Ministry of Finance’s website that items on two separate tariff exemption lists would not be subject to additional charges imposed by China on U.S. goods.

For products on “List 1,” including fish meal for feed, shrimp and prawn seedlings and cancer drugs, tariffs already imposed will be refunded. Companies can apply to customs within six months.

For products on “List 2,” including whey for feed and lubricating base oil, tariffs were said to be non-refundable.

Here are the two lists in full, according to a CNBC translation:

LIST 1: 1. Other shrimp and prawn seedlings. 2. Aster meal and pellets. 3. Other purpura (except coarse powder and pellets). 4. Fish meal for feed. 5. Lubricating oil. 6. Grease. 7. Ring line, insecticidal ring, insecticidal nail, polythiane, etc. (including methylthiophosphorus, buprofezin, aspartate, indoxacarb). 8. Decitabine, fluorouridine, cyclophosphamide, gefitinib, capecitabine, raltitrexed, fludarabine phosphate, fluoride, cytarabine hydrochloride, gemcitabine hydrochloride, ectinib hydrochloride, ifosfamide. 9. Nonionic Organic Surfactant. 10. Mineral oil <70% lubricant. 11. Lubricants containing no petroleum or oils from bituminous minerals. 12. Medical linear accelerator. LIST 2: 1. Whey for feed (2%-7% by weight protein, 76%-88% lactose). 2. Release agent (oil by weight and oil extracted from bitumen ≥70%). 3. Isoparaffin solvent (early boiling point 225 ° C, flash point 92 ° C, density 0.79 g / cm3, viscosity 3.57mm2/s). 4. Lubricating base oil (product viscosity at 100 degrees Celsius). —CNBC's Hilary Pan contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-09-11  Authors: sam meredith
Keywords: news, cnbc, companies, tariffs, meal, including, oil, imposed, products, exempts, china, american, lubricating, hydrochloride, feed, additional, heres, list


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FAA panel reviewing 737 MAX certification will take additional time

Investors say goodbye to choppy August markets but September may…Stock market investors may be glad to see August go, but September might not be any better, unless there are some positive developments in the trade war. Market Insiderread more


Investors say goodbye to choppy August markets but September may…Stock market investors may be glad to see August go, but September might not be any better, unless there are some positive developments in the trade war. Market Insiderread more
FAA panel reviewing 737 MAX certification will take additional time Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-30  Authors: leslie josephs
Keywords: news, cnbc, companies, unless, faa, 737, warmarket, reviewing, say, insiderread, maystock, markets, panel, investors, additional, market, certification, trade, positive, max


FAA panel reviewing 737 MAX certification will take additional time

Investors say goodbye to choppy August markets but September may…

Stock market investors may be glad to see August go, but September might not be any better, unless there are some positive developments in the trade war.

Market Insider

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Company: cnbc, Activity: cnbc, Date: 2019-08-30  Authors: leslie josephs
Keywords: news, cnbc, companies, unless, faa, 737, warmarket, reviewing, say, insiderread, maystock, markets, panel, investors, additional, market, certification, trade, positive, max


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Beyond Meat’s pea protein supplier receives additional $75 million investment from Cargill

Beyond Meat’s pea protein supplier has received an additional $75 million investment from Cargill, one of North America’s largest beef processors. Puris, the continent’s largest pea protein producer, will be able to more than double its pea protein production at a plant in Dawson, Minnesota. The company buys peas from farmers who grow the crop using its proprietary seed and then extracts pea protein from them. Puris is not Beyond’s sole pea protein supplier. According to company filings from Jul


Beyond Meat’s pea protein supplier has received an additional $75 million investment from Cargill, one of North America’s largest beef processors. Puris, the continent’s largest pea protein producer, will be able to more than double its pea protein production at a plant in Dawson, Minnesota. The company buys peas from farmers who grow the crop using its proprietary seed and then extracts pea protein from them. Puris is not Beyond’s sole pea protein supplier. According to company filings from Jul
Beyond Meat’s pea protein supplier receives additional $75 million investment from Cargill Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-28  Authors: amelia lucas
Keywords: news, cnbc, companies, million, meats, 75, puris, beyonds, protein, receives, market, production, cargill, investment, additional, products, pea, supplier, meat


Beyond Meat's pea protein supplier receives additional $75 million investment from Cargill

Products from Beyond Meat, the vegan burger maker, are shown for sale at a market in Encinitas, California, June 5, 2019.

Beyond Meat’s pea protein supplier has received an additional $75 million investment from Cargill, one of North America’s largest beef processors.

Puris, the continent’s largest pea protein producer, will be able to more than double its pea protein production at a plant in Dawson, Minnesota.

The company buys peas from farmers who grow the crop using its proprietary seed and then extracts pea protein from them. As a result of the investment announced Wednesday, Puris will now own and operate three facilities in North America that focus solely on pea protein production. The investment will also add approximately 90 jobs.

Cargill and Puris signed a joint venture agreement in January 2018 to accelerate the production of pea protein with a $25 million investment from the agricultural giant.

Since then, Beyond Meat has significantly ramped up production of its meat substitutes, which use peas as its primary source of protein. In Beyond’s second quarter, revenue from restaurants and food service surged 483% from a year earlier, and revenue from grocery stores soared 192%.

Puris is not Beyond’s sole pea protein supplier. According to company filings from July 31, it also sources pea protein from Roquette, which is based in France.

Beyond products have landed on the menus of fast-food chains like Subway and Dunkin’. KFC, which is owned by Yum Brands, said Tuesday that the single Atlanta location testing plant-based Beyond fried chicken sold out of the item in less than five hours.

Beyond’s meat substitutes appeal to flexitarians — people looking to consume less meat — because they more realistically mimic the taste and look of meat products. The expected growth in the market for meat alternative market has send Beyond’s stock surging 528% since its May initial public offering.

Programming note: Puris President and CEO Tyler Lorenzen will be on CNBC’s “Squawk Alley” at 11:45 a.m. ET Wednesday.


Company: cnbc, Activity: cnbc, Date: 2019-08-28  Authors: amelia lucas
Keywords: news, cnbc, companies, million, meats, 75, puris, beyonds, protein, receives, market, production, cargill, investment, additional, products, pea, supplier, meat


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US delays China tariffs for some items including cellphones, removing other products from list

The United States Trade Representative office said Tuesday that new tariffs on certain consumer items would be delayed until Dec. 15, while other products were being removed from the new China tariff list altogether. The USTR said the delay affects electronics including cellphones, laptops and video game consoles and some clothing products and shoes and “certain toys.” Other items on the list of delayed items include food and kitchen items, numerous chemicals, fireworks, baby products and sports


The United States Trade Representative office said Tuesday that new tariffs on certain consumer items would be delayed until Dec. 15, while other products were being removed from the new China tariff list altogether. The USTR said the delay affects electronics including cellphones, laptops and video game consoles and some clothing products and shoes and “certain toys.” Other items on the list of delayed items include food and kitchen items, numerous chemicals, fireworks, baby products and sports
US delays China tariffs for some items including cellphones, removing other products from list Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, list, items, tariff, china, trade, ustr, delayed, including, delays, additional, cellphones, products, removing, certain, tariffs


US delays China tariffs for some items including cellphones, removing other products from list

The United States Trade Representative office said Tuesday that new tariffs on certain consumer items would be delayed until Dec. 15, while other products were being removed from the new China tariff list altogether. It cited health and security factors.

The duties had been set to go into effect on Sept. 1, so the announcement eased concerns about the holiday shopping season.

The USTR said the delay affects electronics including cellphones, laptops and video game consoles and some clothing products and shoes and “certain toys.”

Earlier this month, President Donald Trump announced a new round of 10% tariffs on $300 billion worth of Chinese imports that eluded duties.

Markets rallied on the news. The Dow Jones Industrial Average rose 400 points, while the S&P 500 was 1.5% higher and the Nasdaq rose 1.9%.

Delays on centerpiece technology products boosted tech stocks and distributors of technology items. Apple shares traded nearly 5% higher on the news and Best Buy soared more than 8%. Chipstocks also moved out of correction territory with the Semiconductor ETF down 8% from its July high.

The delay in footwear and apparel tariffs lifted retailers, including Nike, Kohl’s, and Nordstrom. The retail ETF the XRT rose over 4%, on pace for its best day since December. Toy products being delayed caused Hasbro and Mattel to jump more than 4%.

Other items on the list of delayed items include food and kitchen items, numerous chemicals, fireworks, baby products and sports equipment.

The USTR did not specify which items will be removed from the list but said it will conduct an “exclusion process for products subject to additional tariff.”

Trump said Tuesday his decision to delay tariffs ahead of the Christmas season was to avoid an impact on holiday shopping. Additionally he said all of the delays “help a lot of people.”

Separately, China’s Commerce Ministry said Vice Premier Liu He had spoken by phone with U.S. Trade Representative Robert Lightizer and Treasury Secretary Steven Mnuchin and they agreed to talk again in two weeks.

The next round of trade talks had been expected to take place in September, after the tariffs went into place.

Uncertainty around the trade war has weighed on the markets. U.S. stocks had their worst day of the year on Aug. 5, when China let its currency weaken, crossing the 7 yuan-per-dollar threshold and said it would halt imports of agricultural goods from the U.S.

Here’s the full statement from the USTR:

USTR Announces Next Steps on Proposed 10 Percent Tariff on Imports from China Washington, DC – The United States Trade Representative (USTR) today announced the next steps in the process of imposing an additional tariff of 10 percent on approximately $300 billion of Chinese imports. On May 17, 2019, USTR published a list of products imported from China that would be potentially subject to an additional 10 percent tariff. This new tariff will go into effect on September 1 as announced by President Trump on August 1. Certain products are being removed from the tariff list based on health, safety, national security and other factors and will not face additional tariffs of 10 percent. Further, as part of USTR’s public comment and hearing process, it was determined that the tariff should be delayed to December 15 for certain articles. Products in this group include, for example, cell phones, laptop computers, video game consoles, certain toys, computer monitors, and certain items of footwear and clothing. USTR intends to conduct an exclusion process for products subject to the additional tariff. The USTR will publish on its website today, and in the Federal Register as soon as possible, additional details and lists of the tariff lines affected by this announcement.

Correction: An earlier version misstated how cellphones would be affected by the USTR announcement. The office says tariffs on cellphones are being delayed.


Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, list, items, tariff, china, trade, ustr, delayed, including, delays, additional, cellphones, products, removing, certain, tariffs


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26 Sears, Kmart stores are set to close in October, company ‘cannot rule out’ more closures this year

More Sears and Kmart stores are set to go dark, as the brands’ new parent company, TransformCo, fights to keep the once-bankrupt business afloat. The company announced on its website Monday evening that 26 additional Sears and Kmart stores will close in late October, ranging from locations in California to Texas to Virginia. The Sears Auto Centers at certain locations will start closing later this month. TransformCo added it “cannot rule out additional store closures in the near term.” These cha


More Sears and Kmart stores are set to go dark, as the brands’ new parent company, TransformCo, fights to keep the once-bankrupt business afloat. The company announced on its website Monday evening that 26 additional Sears and Kmart stores will close in late October, ranging from locations in California to Texas to Virginia. The Sears Auto Centers at certain locations will start closing later this month. TransformCo added it “cannot rule out additional store closures in the near term.” These cha
26 Sears, Kmart stores are set to close in October, company ‘cannot rule out’ more closures this year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-07  Authors: lauren thomas
Keywords: news, cnbc, companies, sears, close, levels, 26, closures, website, additional, company, worked, locations, rule, kmart, stores, set, challenges


26 Sears, Kmart stores are set to close in October, company 'cannot rule out' more closures this year

More Sears and Kmart stores are set to go dark, as the brands’ new parent company, TransformCo, fights to keep the once-bankrupt business afloat.

The company announced on its website Monday evening that 26 additional Sears and Kmart stores will close in late October, ranging from locations in California to Texas to Virginia. (See a complete list of locations below.) Liquidation sales will begin around Aug. 15, the company said. The Sears Auto Centers at certain locations will start closing later this month.

TransformCo added it “cannot rule out additional store closures in the near term.”

“Over the past several months, we have worked hard to strengthen our vendor relationships, return our inventory levels to normal, and improve customer satisfaction and operations; however, we have faced a number of challenges returning our stores to sustainable levels of productivity, including differences with Sears Holdings over our purchase agreement and a generally weak retail environment. These challenges have unfortunately affected our performance and limited our strategic choices,” the company said.


Company: cnbc, Activity: cnbc, Date: 2019-08-07  Authors: lauren thomas
Keywords: news, cnbc, companies, sears, close, levels, 26, closures, website, additional, company, worked, locations, rule, kmart, stores, set, challenges


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Additional rate cut may be necessary if US-China trade war persists, former top Fed official says

An additional interest rate cut may be necessary if the ongoing trade war between the U.S. and China persists, former top Federal Reserve official Donald Kohn told CNBC on Thursday. A day before, the Fed, as expected, cut rates for the first time in more than a decade. Fed Chairman Jerome Powell later suggested that trade tensions influenced the decision on rates. Kohn, who was vice chairman between 2006 and 2010, agreed with the Fed’s decision to cut rates. As of Thursday evening, the market se


An additional interest rate cut may be necessary if the ongoing trade war between the U.S. and China persists, former top Federal Reserve official Donald Kohn told CNBC on Thursday. A day before, the Fed, as expected, cut rates for the first time in more than a decade. Fed Chairman Jerome Powell later suggested that trade tensions influenced the decision on rates. Kohn, who was vice chairman between 2006 and 2010, agreed with the Fed’s decision to cut rates. As of Thursday evening, the market se
Additional rate cut may be necessary if US-China trade war persists, former top Fed official says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: berkeley lovelace jr
Keywords: news, cnbc, companies, official, kohn, uschina, cut, trade, chairman, rates, interest, necessary, reserve, war, additional, vice, persists, fed, rate


Additional rate cut may be necessary if US-China trade war persists, former top Fed official says

An additional interest rate cut may be necessary if the ongoing trade war between the U.S. and China persists, former top Federal Reserve official Donald Kohn told CNBC on Thursday.

The rate cut would act as a sort-of “cushion” for the U.S. economy as the trade dispute weighs on business and consumer confidence, the former vice chairman of the Federal Reserve Board said in a interview with “Closing Bell. ”

U.S. stocks closed sharply lower Thursday after President Donald Trump said the U.S. would impose 10% tariff on another $300 billion worth of Chinese goods, effective Sept. 1. Trump’s announcement, made via Twitter, ratcheted up a trade fight that has carried on for more than year and a half.

A day before, the Fed, as expected, cut rates for the first time in more than a decade. Fed Chairman Jerome Powell later suggested that trade tensions influenced the decision on rates.

Kohn, who was vice chairman between 2006 and 2010, agreed with the Fed’s decision to cut rates. Kohn said Thursday that as a central bank official, he believed part of his responsibility was to provide the U.S. economy “some cushion and offsets” to “shocks that came from other places.”

“In a situation like this, it seemed to me there was very little cost to lowering interest rates,” said Kohn, who is now a senior fellow at the Brookings Institution.

As of Thursday evening, the market sees an 81% probability that there will be a rate cut at the Fed’s September meeting, according to the CME FedWatch tool.


Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: berkeley lovelace jr
Keywords: news, cnbc, companies, official, kohn, uschina, cut, trade, chairman, rates, interest, necessary, reserve, war, additional, vice, persists, fed, rate


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Companies weigh impact of China and trade, and it’s not all bad

The impact on earnings from the slowdown in China and the ongoing trade war is not uniform. But the consensus assumes there will be no additional tariffs or a more significant acceleration in the economic slowdown in China. “It really comes down to Old China versus New China or Manufacturing PMI versus the Non-Manufacturing and Service PMIs,” Brendan Ahern told me. “Bellweathers for global trade, like Singapore and South Korea, are showing some weakness,” he told me, noting that trade uncertaint


The impact on earnings from the slowdown in China and the ongoing trade war is not uniform. But the consensus assumes there will be no additional tariffs or a more significant acceleration in the economic slowdown in China. “It really comes down to Old China versus New China or Manufacturing PMI versus the Non-Manufacturing and Service PMIs,” Brendan Ahern told me. “Bellweathers for global trade, like Singapore and South Korea, are showing some weakness,” he told me, noting that trade uncertaint
Companies weigh impact of China and trade, and it’s not all bad Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-25  Authors: bob pisani
Keywords: news, cnbc, companies, global, trade, earnings, slowdown, tariffs, impact, china, additional, bad, told, weigh, ahern, versus, companies


Companies weigh impact of China and trade, and it's not all bad

The impact on earnings from the slowdown in China and the ongoing trade war is not uniform.

Halfway through the earnings season, company reports show the much-feared collapse in guidance for the second half has not happened. But the consensus assumes there will be no additional tariffs or a more significant acceleration in the economic slowdown in China.

“Guidance overall has been more upbeat than we anticipated, especially given the macroeconomic backdrop and trade concerns,” Lindsey Bell from CFRA Research said in a note to clients. In some cases, tariffs and other additional costs are being passed on to customers, in others, not.

Bell noted it would be prudent for investors to consider this risk of additional tariffs. “We believe trade tensions could flare up at any time given the strength that both sides have exhibited to stick to their guns in the past,” he wrote.

The overall picture around the slowing global economy and trade and tariffs is complicated, partly due to changes going on within China itself.

“It really comes down to Old China versus New China or Manufacturing PMI versus the Non-Manufacturing and Service PMIs,” Brendan Ahern told me. Ahern runs Kraneshares, a China ETF provider.

He notes consumers are still generally strong. Coca-Cola, for example, saw growth in Asia-Pacific, but Ahern also noted that industrial businesses like autos have been weak.

“Bellweathers for global trade, like Singapore and South Korea, are showing some weakness,” he told me, noting that trade uncertainty may also be affecting capital expenditures.

Here are comments about China and global trade from companies that have recently reported earnings.


Company: cnbc, Activity: cnbc, Date: 2019-07-25  Authors: bob pisani
Keywords: news, cnbc, companies, global, trade, earnings, slowdown, tariffs, impact, china, additional, bad, told, weigh, ahern, versus, companies


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Cramer: Trump is ‘hungry for tariffs’ and trade talks are one tweet away from ‘blowing up’

CNBC’s Jim Cramer said Monday that the Trump administration is close to placing additional tariffs on Chinese goods as the yearlong trade war drags on. The Chinese are ‘one tweet away from blowing it up, ” Cramer said on “Squawk on the Street. ” The increased purchases would not only help cut the U.S. trade deficit with China but assist farmers, as Trump seeks reelection in 2020. Trump in May slapped 25% tariffs on $200 billion worth of Chinese goods and has threatened duties on an additional $3


CNBC’s Jim Cramer said Monday that the Trump administration is close to placing additional tariffs on Chinese goods as the yearlong trade war drags on. The Chinese are ‘one tweet away from blowing it up, ” Cramer said on “Squawk on the Street. ” The increased purchases would not only help cut the U.S. trade deficit with China but assist farmers, as Trump seeks reelection in 2020. Trump in May slapped 25% tariffs on $200 billion worth of Chinese goods and has threatened duties on an additional $3
Cramer: Trump is ‘hungry for tariffs’ and trade talks are one tweet away from ‘blowing up’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-22  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, additional, talks, tariffs, trump, hungry, blowing, away, chinese, better, china, goods, billion, cramer, trade


Cramer: Trump is 'hungry for tariffs' and trade talks are one tweet away from 'blowing up'

CNBC’s Jim Cramer said Monday that the Trump administration is close to placing additional tariffs on Chinese goods as the yearlong trade war drags on.

The Chinese are ‘one tweet away from blowing it up, ” Cramer said on “Squawk on the Street. ” Beijing has yet to purchase American goods as agreed upon, he added.

Last week, President Donald Trump tweeted that China “is letting us down” by not buying the goods “that they said they would.” The increased purchases would not only help cut the U.S. trade deficit with China but assist farmers, as Trump seeks reelection in 2020.

“We’re about to get tariffs any day now,” Cramer added. “I don’t think people realize the president is hungry for tariffs.”

Trump in May slapped 25% tariffs on $200 billion worth of Chinese goods and has threatened duties on an additional $325 billion of goods as trade negotiations continue. The additional tariffs would effectively cover all Chinese imports in the United States.

But Washington agreed to hold off on raising levies as long as China would buy more U.S. agricultural products, after the leaders of the world’s two largest economies met last month.

And it’s a move that Cramer doesn’t think Trump will hold onto much longer.

“They (Chinese leaders) better stop playing politics and better start ordering, because most of the industrial companies that I talk to are ready for the next big increase, maybe within the next two weeks,” the “Mad Money ” host said. “We’re about to get tariffs of $300 billion any day now.”

A White House spokesman was not immediately available for comment.

The tariffs have been costly for Beijing, with China reporting last week that it grew just 6.2% in its second quarter. It’s the weakest rate reported in at least 27 years, according to the country’s statistics bureau.

“They better stop playing politics and start ordering,” Cramer said.


Company: cnbc, Activity: cnbc, Date: 2019-07-22  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, additional, talks, tariffs, trump, hungry, blowing, away, chinese, better, china, goods, billion, cramer, trade


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