DIRS.INFO The most relevant business & tech news

Asia's imports of the super-chilled fuel were estimated at 21.85 million metric tons in July by commodity analysts Kpler, up from June's 21.28 million and the most since January. Europe's imports were estimated at 8.72 million metric tons in July, down from June's 9.06 million and lowest monthly total since August last year. The Kpler data point to an increase of just 570,000 metric tons in Asia's imports in July, while Europe saw a drop of 340,000. Among Asia's major importers, China's demand remains muted with Kpler estimating July arrivals at 5.88 million metric tons, down from 6.20 million in June. South Korea, the world's third-biggest LNG buyer, saw July imports of 2.81 million metric tons, a small decline from June's 2.92 million.

Persons: Robert Birsel Organizations: LNG, Europe's, Reuters, Thomson Locations: LAUNCESTON, Australia, Europe, June's, Asia, Ukraine, Japan, China, South Korea, India, U.S, United States, Europe's U.S

☆ Businesses aren't acting like a recession is coming this year
▼ + stars: | 2023-07-30 | by ( Noah Sheidlower | Madison Hoff | ) www.businessinsider.com time to read: +7 min

Still, businesses aren't feeling too optimistic, with most still expecting a recession this year. However, big companies are hiring, businesses are expanding, and lots of entrepreneurs are filing to open new startups. This was partly due to consumers spending more and business investment being way up. The main measure of business investment in the GDP report is well above pre-pandemic levels, and shows no signs of slowing down ahead of a hypothetical recession. Businesses also aren't feeling too optimistic according to the National Federation of Independent Business' Small Business Optimism Index.

Persons: —, Gregory Daco, Daco, Jeffrey Roach, Jerome Powell, Powell Organizations: Service, Bureau, Infrastructure Investment, Jobs, US . Entrepreneurs, Economic Innovation Group, Economic, Nationwide, Edelman Data, Intelligence, National Federation of Independent Business, LPL, Federal Reserve, Fed Locations: Wall, Silicon

☆ The US economy is surging
▼ + stars: | 2023-07-27 | by ( Madison Hoff | ) www.businessinsider.com time to read: +5 min

Real gross domestic product, or real GDP, grew at an annualized rate of 2.4%. That advance estimate for the second quarter beat the 1.8% increase expected. A recent GDP preview from Gregory Daco, chief economist of EY, also highlighted strength in the US economy and what it may mean. "Still, the economy continues to face significant headwinds from persistently elevated prices and costs, tightening credit conditions and rising interest rates. That's also much higher than the 3.2% seen in the second quarter of 2022.

Persons: Bill Adams, Jerome Powell, Powell, Gregory Daco, Daco, That's Organizations: Service, BEA, Consumer, Federal Reserve, Comerica Bank's, Fed Locations: Wall, Silicon

LONDON, July 14 (Reuters) - An accelerating dollar slide could be a U.S. gift to its allies by helping them catch up with its impressive disinflation. A dollar slide of this size and speed has typically elicited yelps of pain from U.S. trading partners. Euro zone headline inflation - which peaked about one percentage point above and three months later than the U.S. equivalent last year - was still 2.5 points above it last month. The ECB will likely stay shy of peak Fed rates, but an expected move to 4.0% policy rates by year-end will involve two quarter point hikes after the Fed has stopped. A time-limited dollar drop now may be more benign than a simple reversion to a new 'currency war'.

Persons: Goldman Sachs, Mike Dolan, Josie Kao Organizations: Reserve, Monetary, Sterling, Bank of England, European Central Bank, ECB, Fed, Transatlantic, Reuters, Twitter, Thomson Locations: U.S, Europe, Britain, Swiss

☆ CNBC Daily Open: Cool inflation and hot markets
▼ + stars: | 2023-07-13 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Disinflation in processU.S. headline inflation in June rose just 0.2% compared with May, and 3% from a year ago — the lowest level since March 2021. Excluding food and energy prices, core CPI was 0.2% higher month on month and 4.8% higher on an annual basis. China's trade trickling dryChina's trade activity in June indicated the country's economic slump isn't over.

Persons: Dow Jones, xAI Elon Musk, xAI, Michael Schumacher Organizations: CNBC, Nasdaq, Imports, SpaceX, Twitter, Google, Federal Reserve, Wells, Wells Fargo Securities Locations: Asia, Pacific, South, Wells Fargo

[1/3] US Treasury Secretary Janet Yellen speaks during her meeting with China's Vice Premier He Lifeng (out of frame) at the Diaoyutai State Guesthouse in Beijing on July 8, 2023. Yellen said nothing publicly to indicate that the U.S. was poised to ease tariffs, but commentators in China were hopeful, amid a U.S. Trade Representative review. "While U.S might continue its technological curbs on China, a reduction or exemption of non-core tariffs against China is possible." Yellen last year advocated eliminating some duties on "non-strategic" goods as a way to ease some specific costs amid high inflation. Haley has said she would push Congress to revoke China’s trade status until China curbs its alleged role in the fentanyl trade.

Persons: Janet Yellen, Lifeng, Pedro PARDO, Janet Yellen's, Biden, Harry Broadman, Donald Trump's, Premier Li Qiang, Yellen, Hong Hao, Chad Bown, " Bown, Josh Hawley, Ron DeSantis, Nikki Haley, Haley, Donald Trump, David Lawder, Andrea Shalal, Gram Slattery, Jeff Mason, Heather Timmons, Nick Zieminski Organizations: China's, WASHINGTON, . Treasury, Trump, White House, World Bank, Berkeley Research, Premier, U.S . Treasury, . Trade, China's Finance, U.S, Grow Investment, Times, Peterson Institute of International Economics, Reuters, Republican, Firebrand, Thomson Locations: Diaoyutai, Beijing, China, U.S, Washington, U.s, Donald Trump's China, CHINA, Xinjiang, Hong Kong, Florida, Mexico, Cuba

☆ The chip wars are heating up. This Chinese stock rose 30% in five days
▼ + stars: | 2023-07-09 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

China is starting to show what sway it has in the semiconductor supply chain, and stocks are only starting to react. About a week ago on July 3 , China's Commerce Ministry announced export restrictions on germanium and gallium would take effect on Aug. 1. WestSummit claims about 20 billion yuan ($2.77 billion) in assets under management. China's latest export curbs follow sweeping U.S. export restrictions in October to limit Chinese businesses' access to advanced semiconductor technology. One of Delta's investments, Shanghai New Vision Microelectronics, raised just over 1 billion yuan in an initial public offering on Shanghai's Star board on June 1.

Persons: Bo Du, Du, WestSummit, Greg Ye, Ye, Wei Jianguo, Wei didn't, Brian Tycangco, Tycangco Organizations: China's Commerce Ministry, . Geological Survey, WestSummit Capital Management, CNBC, Delta Capital, Shanghai New Vision Microelectronics, Shanghai's Star, Stansberry Research, Materials, Earth Holdings Locations: China, Yunnan, U.S, Shenzhen, Shanghai, Washington, Beijing

☆ The Contentious U.S.-China Relationship, by the Numbers
▼ + stars: | 2023-07-07 | by ( Ana Swanson | More About Ana Swanson | ) www.nytimes.com time to read: +6 min

The U.S.-China Business Council estimated that U.S. exports to China supported nearly 1.1 million jobs in the United States in 2021. Also in the survey, 46 percent of American companies thought that U.S.-China relations would deteriorate in 2023, while only 13 percent thought they would improve. Personal and cultural connectionsThe United States is home to nearly 2.4 million Chinese immigrants, making it the top destination for Chinese immigrants worldwide. China had more than 80,000 movie screens by late 2021, compared with roughly 39,000 in the United States. Air carriers are running only 24 flights a week between the United States and China, compared with about 350 before the pandemic.

Persons: Janet L, Yellen, Germany —, China’s, Long, ByteDance, Maheshwari, Nicole Sperling Organizations: Economic, International Monetary Fund, Initiative, China . Trade, China Business Council, United, Commerce Department, Financial, American Chamber of Commerce, Columbia University Locations: China, United States, Beijing, U.S, Canada, Mexico . U.S, The U.S, Japan, Britain, Germany, China’s, American, Comscore

☆ What are Gallium and Germanium and which countries are producers?
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +5 min

Germanium ores are rare and most germanium is a by-product of zinc production and from coal fly ash. Gallium is found in trace amounts in zinc ores and in bauxite, and gallium metal is produced when processing bauxite to make aluminium. U.S. imports of gallium metal and gallium arsenide (GaAs) wafers in 2022 were worth about $3 million and $200 million, respectively, according to USGS. U.S.-based Indium Corporation also produces germanium, while Belgium's Umicore (UMI.BR) makes both germanium and gallium. "Zinc selenide and germanium glass substitute for germanium metal in infrared applications systems, but often at the expense of performance."

Persons: Belgium's, Eikon, Dominique Patton, Mai Nguyen, Melanie Burton, Pratima Desai, Tom Hogue, Himani Sarkar, Catherine Evans, David Evans Organizations: Alliance, . Geological Survey, WHO, Teck Resources, Shanghai Metal Exchange, Thomson Locations: China, Canada, Finland, Russia, United States, Europe, Japan, U.S, South Korea, Germany, Kazakhstan, Teck, North America, British Columbia, Beijing

☆ Which countries produce strategic materials Gallium and Germanium?
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +4 min

Germanium ores are rare and most germanium is produced as a by-product of zinc production and from coal fly ash. China produces around 60% of the world's germanium, according to the European association Critical Raw Materials Alliance (CRMA), with the rest coming from Canada, Finland, Russia and the United States. Gallium is found in trace amounts in zinc ores and in bauxite, and gallium metal is produced when processing bauxite to make aluminium. U.S. imports of gallium metal and gallium arsenide (GaAs) wafers in 2022 were worth about $3 million and $200 million, respectively, according to USGS. U.S.-based Indium Corporation also produces germanium, while Belgium's Umicore (UMI.BR) makes both germanium and gallium.

Persons: Belgium's, Eikon, Dominique Patton, Mai Nguyen, Melanie Burton, Tom Hogue, Himani Organizations: Alliance, WHO, United States Geological Survey, Teck Resources, Shanghai Metal Exchange, Thomson Locations: China, Canada, Finland, Russia, United States, Europe, Japan, U.S, South Korea, Germany, Kazakhstan, Teck, North America, British Columbia, Beijing

☆ Opposition Grows to U.S. Imports of Refined Russian Oil
▼ + stars: | 2023-06-29 | by ( Ana Swanson | ) www.nytimes.com time to read: +1 min

Ukrainian officials and human rights groups are asking the United States to close what they describe as a loophole that allows Russian crude oil that has been refined in other countries to be shipped to the United States. The Biden administration issued a ban last March on purchasing crude oil and other petroleum products directly from Russia, immediately following the Kremlin’s invasion of Ukraine. The European Union, which was heavily dependent on Russia for supplies of energy, banned Russian crude in December and petroleum products the following February. But both the United States and the European Union continue to purchase Russian oil that has been refined in other countries into gasoline, fuel oil and other products. This activity is legal: Once Russian crude oil has been “substantially transformed” by being refined in another country, it legally ceases to be Russian.

Persons: Biden Organizations: European Union, United Arab Locations: United States, Russia, Ukraine, Turkey, United Arab Emirates, Singapore, China, India, Europe, Iran, Venezuela

☆ US goods trade deficit narrows; retail inventories rise
▼ + stars: | 2023-06-28 | by ( Lucia Mutikani | ) www.reuters.com time to read: +3 min

SummarySummary Companies Goods trade deficit decreases 6.1% to $91.1 billion in MayWholesale inventories dip 0.1%; retail stocks rise 0.8%WASHINGTON, June 28 (Reuters) - The U.S. trade deficit in goods narrowed in May as imports fell, but the improvement was probably insufficient to prevent trade from being a drag on economic growth in the second quarter. The goods trade deficit decreased 6.1% to $91.1 billion last month, leaving the bulk of April's surge intact. The drop was led by a 7.3% plunge in consumer goods imports. The report also showed that retail inventories increased 0.8% last month after gaining 0.3% in April. Excluding motor vehicles, retail inventories were unchanged after decreasing 0.3% in April.

Persons: nonfarm, Omodunbi, Lucia Mutikani, Chizu Organizations: Goods, Commerce Department, PNC Financial, Trade, Atlanta Federal Reserve, Thomson Locations: WASHINGTON, U.S, Pittsburgh , Pennsylvania

London Metal Exchange (LME) three-month tin has been treading water in a $23,700-26,800 range since the start of May. Although the demand outlook remains subdued, tin supply is facing two big threats, one from Myanmar and one from Indonesia, the world's largest exporter. Global tin supply, meanwhile, is now improving after an early-year drop in Indonesia shipments. Refined tin production fell year-on-year in May and Guangxi China Tin Group, the world's sixth-largest tin producer, has just announced a 40-50 day maintenance break from the end of this month, according to the ITA. Indonesia currently only has enough downstream capacity to absorb 5% of its domestic tin production, meaning that any restrictions will likely come in phases.

Persons: Minsur, International Tin Association . Tin, It's, David Evans Organizations: London Metal Exchange, Global, Shanghai Futures Exchange, U.S, Global Semiconductor, HIT, World Semiconductor Trade Statistics, Local, United Wa State Army, International Tin Association ., ITA, Guangxi China Tin Group, Thomson, Reuters Locations: Midwest, London, imploding, Myanmar, Indonesia, Peruvian, United States, Europe MYANMAR, Wa, China, Wa State, Guangxi China, INDONESIA

☆ China’s economy is way more screwed than anyone thought
▼ + stars: | 2023-06-14 | by ( Linette Lopez | ) www.businessinsider.com time to read: +12 min

The bubble in China's property market finally popped. In April, China's economic data came in weak largely across the board. The problem is that while consumers may be picking up, the biggest drivers of the Chinese economy — property and exports — are going to stay dormant. Consumer consumption makes up about 37% of the Chinese economy (in the US that figure is about 70%). Beijing has tried to shift the country toward a consumption model, like the US, but exports still make up 20% of China's economy.

Persons: lockdowns, it's, Xi Jinping, Stanley Druckenmiller, We're, Morgan Stanley, Goldman Sachs, Wei Yao, Leland Miller, Miller, Yao, Wright, I've, —, Kearney, Linette Lopez Organizations: Trade, JPMorgan, Bloomberg Invest Conference, Bank of America's, China's National Bureau, Statistics, Societe Generale, Analysts, Beijing, China, Chinese Communist Party, China's Locations: China, globalism, Beijing, York, Asia

☆ The Eurozone Slipped Into a Mild Recession Early in the Year
▼ + stars: | 2023-06-08 | by ( Liz Alderman | ) www.nytimes.com time to read: +3 min

Spending in the eurozone fell 0.3 percent in the first three months of this year after falling 1 percent in the previous quarter. Across Europe, countries swiftly stockpiled energy reserves, and a mild winter, together with mass conservation efforts, helped avoid the worst. The strategy has helped drive down the price of energy, and inflation in the eurozone’s biggest economies climbed down from record highs. In May, the annual rate of inflation was 6.1 percent, the eurozone’s lowest level in more than a year. The International Monetary Fund has warned that European policymakers’ main challenge this year would be to tame inflation without stoking a severe recession.

Persons: ” Claus Vistesen, “, ” Organizations: “, Pantheon, European Central Bank, Monetary Fund, ’, Analysts, ING Bank, Bank’s Locations: Germany, Spain, Italy, Portugal, Netherlands, France, Ukraine, Europe

☆ China's exports tumble much more than expected in May
▼ + stars: | 2023-06-07 | by ( ) edition.cnn.com time to read: +2 min

Beijing Reuters —China’s exports shrank much faster than expected in May and imports fell, albeit at a slower pace, as manufacturers struggled to find demand abroad and domestic consumption remained sluggish. Exports from the world’s second-largest economy fell 7.5% year-on-year in May, the biggest decline since January and swinging from 8.5% growth in April. Chinese stocks trimmed gains and the Australian dollar, a commodity currency that is highly sensitive to swings in Chinese demand, fell after the trade data. “The weak exports confirm that China needs to rely on domestic demand as global economy slows,” said Zhiwei Zhang, chief economist at Pinpoint Asset Management. The PMI subindexes showed factory output swung to contraction from expansion while new orders, including new exports, fell for a second month.

Persons: ”, Zhiwei Zhang Organizations: Beijing Reuters —, Imports, Reuters, Australian, PMI Locations: Beijing, China

Imports contracted at a slower pace, dropping 4.5%, a slower pace of decline 7.9% than the previous month. The Australian dollar , a commodity currency that is highly sensitive to swings in Chinese demand, fell after the trade data. "The weak exports confirm that China needs to rely on domestic demand as global economy slows," said Zhiwei Zhang, chief economist at Pinpoint Asset Management. "There is more pressure for the government to boost domestic consumption in the rest of the year, as global demand will likely weaken further in the second half." The PMI subindexes showed factory output swung to contraction from expansion while new orders, including new exports, fell for a second month.

Persons: Zhiwei Zhang, Joe Cash, Sam Holmes Organizations: Imports, Reuters, PMI, Thomson Locations: BEIJING, China

☆ Rising imports, falling exports push US trade deficit to six-month high
▼ + stars: | 2023-06-07 | by ( Lucia Mutikani | ) www.reuters.com time to read: +3 min

The trade deficit jumped 23.0% to $74.6 billion, the Commerce Department said on Wednesday. The government revised the goods trade data from 2018 while the trade services figures were revised from 2017. There were also increases in imports of industrial supplies and materials, though petroleum imports fell to the lowest level since August 2021. April's drop in goods exports was led by a sharp decline in exports of industrial supplies and materials, mostly crude oil and fuel oil. Adjusted for inflation, the goods trade deficit shot up 16.5% to $95.8 billion in April.

Persons: Christopher Rupkey, Lucia Mutikani, Toby Chopra, Andrea Ricci Organizations: Commerce Department, Trade, Consumer, Federal Reserve, Thomson Locations: WASHINGTON, U.S, New York

☆ US extends by another year temporary suspension of tariffs on Ukrainian steel
▼ + stars: | 2023-05-31 | by ( Kanishka Singh | ) www.reuters.com time to read: +1 min

Slideshow ( 2 images )WASHINGTON (Reuters) - The United States will extend by another year the temporary suspension of tariffs on Ukrainian steel, the Commerce Department said on Wednesday, citing the Russian invasion of Ukraine. The United States initially suspended tariffs on Ukrainian steel for one year in May last year, months after the Russian invasion began. Then-President Donald Trump in 2018 imposed a tariff of 25% on steel imports from countries including Ukraine. U.S. lawmakers urged President Joe Biden to remove the tariffs after Russia invaded Ukraine in February 2022. Ukraine was the 13th largest steel producer and typically exported about 80% of its production before the invasion from Russia.

Persons: Donald Trump, Joe Biden Organizations: Commerce Department, United, U.S . Chamber, Commerce, European Union, White House Locations: WASHINGTON, United States, Ukraine, Russian, Russia, U.S

☆ Biden vetoes legislation to block solar panel tariffs waivers
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +2 min

May 16 (Reuters) - President Joe Biden said on Tuesday he has vetoed legislation passed by the U.S. Congress that would repeal exemptions on American tariffs on imported solar panels from four Southeast Asian nations. Biden said the waivers will create a "bridge" while U.S. manufacturing ramps up enough to supply the domestic projects needed to achieve goals in fighting climate change. Top clean energy trade groups, whose members rely on cheap imports to keep their costs low, support the exemption and praised Biden's veto. Domestic solar manufacturers have said the tariffs are needed now to compete with cheap panels made overseas. Solar Energy Industries Association (SEIA) said the legislation would have eliminated 30,000 jobs in the solar sector by stalling development.

☆ Companies are betting on a demand rebound in second half of year, DHL says
▼ + stars: | 2023-05-11 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

That marks the second consecutive month that U.S. imports increased and are higher than 2019 levels, according to data provided to CNBC from Descartes Datamyne, a global trade data platform. The combination of a slow ramp up from "Zero Covid" in China and the reopening of manufacturing plants in the country delayed exports. The top Vietnamese imports in the latest data are wrought iron fencing and plant stands, imported for companies including Home Depot. Black jewelry bags for Zales and men's and boy's t-shirts for Nike rounded out the list of U.S. imports data from China, Vietnam, Thailand, and India reviewed by CNBC. In April, the trade data shows that vitamins and containers of pencils were bound from India to Walmart , and zip polos and t-shirts for Guess .

Economists in a Reuters poll had predicted no growth in imports and an 8.0% increase in exports. Other recent data also showed South Korean exports to China, a leading indicator of China's imports, were down 26.5% in April, continuing 10 consecutive months of decline. China's coal imports fell in April from a 15-month high in the prior month, snapping back as demand weakens in Asian giant. Imports of copper - a proxy for global growth - and natural gas were also down in the same period. "The global economy is deteriorating and will weaken China's manufacturing sector," said Iris Pang, chief China economist at ING.

BEIJING, May 9 (Reuters) - China's imports contracted sharply in April, while exports grew at a slower pace, reinforcing signs of feeble domestic demand despite the lifting of COVID curbs and heaping pressure on an economy already struggling in the face of cooling global growth. Economists in a Reuters poll had predicted no growth in imports and an 8.0% increase in exports. Analysts say cooling global growth pointed to a longer road to recovery for the Asian giant after Beijing abruptly ended tough COVID curbs in December. South Korean exports to China, a leading indicator of China's imports, were down 26.5% in April, continuing 10 consecutive months of decline. China's economy grew faster than expected in the first quarter thanks to robust services consumption, but factory output has lagged amid weak global growth.

☆ China’s shrinking imports, slower exports growth darken economic outlook
▼ + stars: | 2023-05-09 | by ( ) edition.cnn.com time to read: +4 min

Economists in a Reuters poll had predicted no growth in imports and an 8.0% increase in exports. Other recent data also showed South Korean exports to China, a leading indicator of China’s imports, were down 26.5% in April, continuing 10 consecutive months of decline. China’s coal imports fell in April from a 15-month high in the prior month, snapping back as demand weakens in Asian giant. Imports of copper, a proxy for global growth, and natural gas were also down in the same period. “The global economy is deteriorating and will weaken China’s manufacturing sector,” said Iris Pang, chief China economist at ING.

☆ US trade deficit narrows sharply in March as exports rise
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, May 4 (Reuters) - The U.S. trade deficit narrowed sharply in March as exports increased, which could position trade to continue contributing to economic growth in the second quarter. The trade deficit contracted 9.1% to $64.2 billion, the Commerce Department said on Thursday. But consumer goods imports increased $2.4 billion, lifted by pharmaceutical preparations, other textile apparel and household goods. Adjusting for inflation, the goods trade deficit narrowed 4.4% to $99.4 billion. A smaller trade deficit was one of the contributors to the economy's 1.1% annualized growth rate in the first quarter.

Search resuls for: ". Imports"

25 mentions found