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☆ Our takes on new Wall Street research analyzing 4 Club consumer stocks
▼ + stars: | 2023-09-22 | by ( Paulina Likos | ) www.cnbc.com time to read: +8 min

There was lots of consumer stock research from Wall Street on Friday, including reports on Club names Costco (COST), Procter & Gamble (PG), beer maker Constellation Brands (STZ) and off-price retailer TJX Companies (TJX). HSBC also said Costco's premium stock multiple is worth it given management's strong execution, sustainable competitive advantages, and growth outlook. The analysts said that P & G has built "one of the strongest set of capabilities in the consumer staples sector." You will not see us trade Costco. TJX YTD mountain TJX Companies YTD In a note Friday, UBS sees department stores still losing share to off-price retailers in both sales and earnings before interest and taxes (EBIT) dollars over the next 10 years and beyond.

Persons: We're, Goldman Sachs, Goldman, Bill Newlands, Jim, TJX, It's, Jim Cramer's, Jim Cramer Organizations: Wall, Costco, Procter, Gamble, Constellation Brands, TJX Companies, HSBC, Coresight Research, Gamble YTD HSBC, Constellation, Modelo, Corona, Constellatio Brands, Elliott Management, UBS, Marshalls, Burlington, Ross Stores, CNBC, Corbis, Getty, & & $ Locations: U.S, Mexican, Maxx, Teterboro , New Jersey

☆ GGV Capital, a top Silicon Valley investor, is splitting off its China business as pressure mounts
▼ + stars: | 2023-09-22 | by ( Michelle Toh | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —GGV Capital, a prominent Silicon Valley venture capital firm, has become the latest big investor to break up its US and China operations into separate companies as tensions between the two countries over tech and geopolitics continue to rise. The other side will focus on China, Southeast Asia and South Asia, run from its headquarters in Singapore, by managing partners Jenny Lee and Jixun Foo. Jenny Lee, managing partner of GGV Capital, at a conference in Singapore in September. Lee will co-lead the Asia side of the business as it becomes its own firm, according to GGV. Asked whether the US order or wider geopolitical tensions had factored into its decision, GGV Capital declined to comment.

Persons: Glenn Solomon, Hans Tung, Jeff Richards, Oren Yunger, Jenny Lee, Jixun, Lee, Slack, ByteDance, Didi, Biden, “, ” Organizations: Hong Kong CNN — GGV, Jiyuan, GGV, Bloomberg, Getty, CNN, Sequoia Locations: China, Hong Kong, North America, Latin America, Europe, Israel, India, California, New York, Southeast Asia, South Asia, Singapore, Asia, United States, China’s Xinjiang, Dentons

South Africa has also been criticized for not publicly opposing Russia's war against Ukraine. Political Cartoons View All 1171 ImagesThe U.S. and South Africa announced in a joint statement that the forum will be held in Johannesburg, indicating a mending of relations following months of diplomatic tensions. South Africa is one of the biggest beneficiaries of AGOA, with exports to the U.S. through the act estimated at $3 billion in 2022. It also found that South Africa was not aware that the ship transporting military equipment ordered by the South African National Defense Force from the United Arab Emirates was a sanctioned Russian vessel. Leaders from various countries in sub-Saharan Africa and organizations are expected to attend the forum on Nov. 2-4.

Persons: Antony Blinken, Katherine Tai, Clayson Monyela, we’d, ” Monyela, Cyril Ramaphosa, R, Reuben Brigety Organizations: U.S ., Republican, Democratic, AGOA, Ukraine, South Africa, U.S . Trade, South Africa’s Foreign, Forum, SA, Twitter, South, U.S, South African National Defense Force, United Arab Locations: JOHANNESBURG, South Africa, U.S, U.S . Africa, Russia, Russian, Cape Town, AGOA, Africa, Ukraine, United States, China, Johannesburg, United Arab Emirates, Saharan Africa

☆ Morning Bid: China adds fuel to global equity rally
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +2 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 29, 2023. Signs that the recent flurry of support measures from Beijing are working to stabilise the economy showed up in August retail sales and factory production data released this morning. The dollar remains king, with the euro swooning in the course of a very eventful few days. That sets the stage for another pivotal week ahead, featuring policy decisions from not just the Fed, but the Bank of England and the Bank of Japan. There will be plenty of opportunity to hear from ECB officials today, with the Eurogroup convening in Spain.

Persons: Kevin Buckland, Moody's, Boss Christine Lagarde, Fabio Panetta, Edmund Klamann Organizations: REUTERS, Staff, Graphics, Bank of England, Bank of Japan, ECB, Bank of Italy, Sweden CPI, France CPI, NY Fed, Thomson Locations: Frankfurt, Germany, China, Beijing, Spain, Sweden, France, Italy, Michigan, NY

☆ 10 signs the US economy may struggle in the next year
▼ + stars: | 2023-09-14 | by ( Madison Hoff | Noah Sheidlower | ) www.businessinsider.com time to read: +10 min

By raising interest rates, the Fed "wants us to buy fewer cars. There are signs that a drop in savings could be making it harder for Americans' to keep up with paying off debt. Long-term interest rates rising for non-economic reasonsLong-term interest rates are on the rise, even though economic data on the whole is improving. Higher-interest payments for the US governmentSløk also noted higher interest payments for the US government as another downside risk to the outlook. Projections published by the Congressional Budget Office show increasing estimates for the upcoming decades for federal interest payments as a share of GDP.

Persons: Torsten Sløk, Sløk, Paul Krugman, Persis Yu, Jan Hatzius, Goldman Sachs, Hatzius, it's, , you've, Andy Kiersz, That's, Brent Organizations: Service, Apollo Global Management, NYU Stern School of Business, Federal Reserve, San, San Francisco Fed, Student, Protection, CNBC, New York Fed, Banking, West Texas, Labor Statistics, US, Fitch, Congressional Locations: Wall, Silicon, San Francisco, China, Japan, Europe, Germany

☆ Fact check: Debunking eight Trump false claims about the Biden-era economy
▼ + stars: | 2023-09-14 | by ( Daniel Dale | ) edition.cnn.com time to read: +15 min

They’re looking for jobs, but many of ‘em aren’t looking for jobs, so it’s a fake number.”Facts First: Trump made two false claims here. Real incomes under Trump and BidenTrump claimed, “Under Biden, real incomes have gone down by $7,400 per family, think of that. Think of that.”Facts First: Both parts of Trump’s claim are false. When Biden took office in January 2021, the economy was about 9.4 million jobs below the pre-pandemic peak set in February 2020. By adding more than 13.4 million jobs over Biden’s first 30 full months, therefore, the country went roughly 4 million jobs above the pre-pandemic peak.

Persons: Donald Trump, Joe Biden –, Biden, Trump, Biden –, “, we’ll, Sean Spicer, Spicer, Biden Trump, Trump’s, it’s, Michael Klein, ” Klein, wouldn’t, That’s, –, doesn’t, PolitiFact, Biden’s Organizations: Washington CNN, Trump, White, White House, Bureau of Labor Statistics, Biden, Fletcher School, Tufts University, Federal Reserve, US, “, Heritage Foundation, Trump Trump Locations: South Dakota, Ukraine, ”, Biden’s

☆ Creator merchandise company Spring has been hit with 7 lawsuits this year
▼ + stars: | 2023-09-08 | by ( Sydney Bradley | Amanda Perelli | ) www.businessinsider.com time to read: +6 min

Merch company Spring has been hit with numerous lawsuits this year. The creator merchandise company Spring has been hit with a slew of lawsuits this year following the sale of its assets, in late 2022, to the software company Amaze. Spring, as a company, still exists but has been effectively defunct since the asset sale. That hasn't stopped the lawsuits against Spring (formerly known as Teespring) from piling up, however. Since January, Spring has been sued by several vendors and business partners, with global shipping company DHL being the latest to sue the company.

Persons: Amaze, Ty Huls, Huls, Spring, et, Broder Bros, It's, Evan Stites, Clayton, Chris Lamontagne, Annelies Jansen, OpenAI's Sam Altman, Jansen, What's, Michael Curtiss Organizations: DHL, Spring, Washington State Department of Revenue, DHL Ecommerce, Inc, Teespring Inc, Trade Credit Insurance Inc, Al, Former Spring, Amaze, Amaze Holding, Amaze Software Inc, Software Locations: Amaze, Teespring, Spring, WilliamsMarston

Hong Kong/Seoul CNN —SK Hynix, a South Korean chipmaker, is investigating how two of its memory chips mysteriously ended up inside the Mate 60 Pro, a controversial smartphone launched by Huawei last week. “The significance of the development is that there are restrictions on what SK Hynix can ship to China,” G Dan Hutcheson, vice chair of TechInsights, told CNN. The big question is whether any laws were violated.”A Hynix spokesperson told CNN Friday that it was aware of its chips being used in the Huawei phone and had started investigating the issue. “SK Hynix is strictly abiding by the US government’s export restrictions,” the company said. Industry insiders said it was possible that Huawei had purchased the memory chips from the secondary market and not directly from the manufacturer.

Persons: ” G Dan Hutcheson, It’s, TechInsights, Mike Gallagher, Michael McCaul Organizations: Seoul CNN — SK Hynix, Huawei, SK Hynix, CNN, “ SK Hynix, US, Industry, 5G Kirin, chipmaker Semiconductor Manufacturing International Corporation, White Locations: Hong Kong, Seoul, Korean, Hynix, Canada, China, United States, Shenzhen

☆ Manchester United: $740 million wiped off football club's market value
▼ + stars: | 2023-09-06 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +3 min

London CNN —Manchester United shares have plunged more than 19% this week, slashing almost $740 million off the soccer club’s market value, following a UK newspaper report that the club’s US owners would drop an attempt to sell the company, at least for now. The stock fell more than 18% Tuesday in the largest daily decline since United’s IPO in New York in August 2012. According to multiple reports earlier this year, the Glazers were seeking between $7.2 billion and $9.6 billion from potential buyers. In June, Manchester United reported revenue of £481 million ($604 million) for the nine months to March 31, 2023, and an operating loss of nearly £11 million ($14 million). For the full fiscal year, it forecast record revenue of between £630 million and £640 million ($803 million).

Persons: Jim Ratcliffe, Jassim Bin Hamad Al Thani, Glazer, hasn’t Organizations: London CNN — Manchester United, Daily Mail, Labor, Manchester United, CNN, English Premier League, Newcastle Business School, Manchester, Germany’s Borussia Dortmund, Italy’s Juventus Locations: New York, “, Frankfurt, Milan

☆ The greenback is 'losing some influence' in the oil markets — and it means a partial de-dollarization is likely, says JPMorgan
▼ + stars: | 2023-09-05 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

The US dollar is losing some influence in the oil markets, according to JPMorgan. The correlation between the USD's strength and oil prices has weakened, per the bank's research. The analyst drew the conclusion by looking at the impact of a strengthening dollar on oil prices. AdvertisementAdvertisementThe relationship exists because the dollar is traditionally inversely correlated to oil prices — meaning that when the greenback's value rises, oil prices fall, and vice versa. This trend is because more oil is now being transacted in non-dollar currencies, JPMorgan said in its report, such as the Chinese yuan.

Persons: Natasha Kaneva, Kaneva, Jahangir Aziz, —, It's Organizations: JPMorgan, Service, Brent, Reuters, Russia Locations: Wall, Silicon, China, Russia, Ukraine, Washington

☆ US isn’t trying to hold China’s economy back, says Commerce Secretary Raimondo
▼ + stars: | 2023-08-29 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —The United States is not seeking to decouple from China’s economy or hold it back, Commerce Secretary Gina Raimondo told senior Chinese economic officials Tuesday in Beijing. Hours later, when she met with Chinese Premier Li Qiang, Raimondo emphasized that point. “A well-maintained economic and trade relationship is beneficial to both [our] countries and the whole world.”“We hope that commercial relationship can provide stability for the overall relationship,” Raimondo said in reply to Li. He said that he hoped the United States will work with China to “adopt rational and practical practices” and put the leaders’ recommendations into practice. On Monday, Raimondo said it was “profoundly important” that the US and China have a stable economic relationship.

Persons: Gina Raimondo, ” Raimondo, Lifeng, ”, Premier Li Qiang, Raimondo, “, Biden, Li, Xi Jinping, Joe Biden, Hu Heping Organizations: Hong Kong CNN, Premier, “, Culture and Tourism, Biden, United States Locations: Hong Kong, United States, Beijing, China, United, Bali

SYDNEY, Aug 24 (Reuters) - Australia's Trade Minister Don Farrell has dangled easier access to the country's vast critical minerals sector as part of negotiations over a free trade agreement with the European Union ahead of possible further talks as soon as next week. Farrell told Reuters in an interview on Thursday that a free trade agreement would simplify European investment in the country's burgeoning critical minerals sector, in part by smoothing access through mandatory Foreign Investment Review Board (FIRB) screening. "One of the big advantages we've got in this relationship is our access to critical minerals, rare earths, hydrogen and ammonia," Farrell said. "Other countries are looking to invest in our critical minerals and other renewables. Australia was an especially attractive place for critical minerals investment from the United States under U.S. Inflation Reduction Act rules because it was one of the few countries to have both mineral deposits and a free trade agreement with the U.S., said Farrell.

Persons: Don Farrell, Farrell, China, we've, they've, Annalena Baerbock, teleconference, Dombrovskis, Lewis Jackson, Kirsty Needham, Michael Perry Organizations: SYDNEY, Australia's Trade, European Union, Reuters, Investment, Board, Foreign, U.S, EU, Trade, Thomson Locations: Australia, Germany, China, Sydney, Europe, Japan, South Korea, Singapore, United States

☆ As China loses its spot as the top US trade partner and faces a slowing economy, Chinese consumers and business owners are worried: 'I can't see any way to make money in this country'
▼ + stars: | 2023-08-22 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +3 min

Chinese business owners and consumers told The New York Times they're concerned about the economy. China is dealing with declines in manufacturing and trade as well as record-high youth unemployment. Larry Summers said last week China's economic proespects had been "greatly exaggerated" in the past. Summers said China's economic prospects, previously considered very good, had been "greatly exaggerated," and that he think the US gross domestic product "will exceed China's for another generation." The Times reported consumers and business owners in China were worried because they could not see how the economic downturn would end.

Persons: Larry Summers, proespects, Li Yuan, Richard Li, Summers, Insider's Cork Gaines, Andy Wang, Xi Jinping, Wang Organizations: New York Times, Service, The New York Times, Times, US, Washington Post, Federal Reserve Bank of Dallas Locations: China, Wall, Silicon, Washington, Mexico, Austria

CNN —US Commerce Secretary Gina Raimondo will visit China next week at a critical time for the world’s second-largest economy — and for the Biden administration’s relationship with the country and its leaders. “Secretary Raimondo looks forward to constructive discussions on issues relating to the US-China commercial relationship, challenges faced by US businesses, and areas for potential cooperation,” the Commerce Department said Tuesday in its announcement. Maintaining a dialogue while ramping up competitionIn previous visits, other Biden administration officials aimed to reopen lines of communication and ease tensions that have risen between the two countries in recent years. The Biden administration has said it wants to maintain dialogue with China to prevent competition from turning into conflict. Raimondo’s visit also comes on the heels of the revelation that Chinese-based hackers infiltrated the Commerce Secretary’s emails.

Persons: Gina Raimondo, Biden, Xi, hasn’t, Antony Blinken, Janet Yellen, John Kerry, Joe Biden, “, Raimondo, She’ll, Trump, Mintz, Raimondo’s, —, Laura Organizations: CNN, US, Biden, Commerce Department, Treasury Department, US Trade Representative, Raimondo’s Commerce, White, China, Mintz Group, Commerce Locations: China, Hong, Beijing, Shanghai, American

☆ 2 charts that show how Mexico overtook China as America's top global trade buddy
▼ + stars: | 2023-08-22 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Mexico overtook Canada as the US' top trading partner at the start of 2023. US trade with China has been edging lower since 2018, except for a spike during the pandemic. Mexico became US' top trading partner at the start of 2023US's trade with major partners as percentage of total US trade. Canada was the US' top trading partner since at least 2000 before being overtaken by China in 2014. "Mexico's expanding manufacturing base has offered an alternative to producing in China," Torres wrote in the note.

Persons: Trump, Donald Trump, China wasn't, Luis Torres, Torres, Hisense Organizations: Service, Privacy, Census Bureau, East, Federal Reserve Bank, Dallas, Trump, Federal Reserve Bank of Dallas, China Locations: Mexico, Canada, China, Wall, Silicon, US, Washington, Beijing

☆ Trump says he'll impose huge new tariffs if elected in 2024
▼ + stars: | 2023-08-22 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Former President Donald Trump is proposing a universal baseline tariff for imports into the US. He also told Fox News he'd implement a "matching tax" on certain countries. He also proposed a "matching tax" on certain countries that would be equivalent to high tariffs on US products. While Trump laid out the idea of a universal tariff months earlier, he appeared to get more specific last week. In February, Trump floated the universal tariff idea as he began laying out an economic agenda for his campaign platform.

Persons: Donald Trump, Donald Trump's, Trump, James Stavridis, Biden Organizations: Fox News, Service, Republican, Washington Post, Trump, Carlyle Group, White, National Manufacturing Initiative, Fox Locations: Wall, Silicon, United States, China

☆ I moved from New York City to Paris at age 79. Some people said I was crazy, but I wanted something new for this stage of my life.
▼ + stars: | 2023-08-21 | by ( Mary Jane Wilkie | ) www.businessinsider.com time to read: +7 min

I'd lived in New York City for 35 years, but Paris had been in the back of my mind since 2016. COVID-19 quashed an earlier attempt to leave New York City in March 2020, so almost two years later, I boarded the plane shortly after my 79th birthday. I chose Paris for a few reasonsHaving spent about half of my adult years enjoying New York City, I wanted something else for the penultimate stage of life. The learning continuesThough I sold my New York apartment for a nice price, it wasn't enough for an appropriate place in Paris. The dream of visiting Paris usually includes spending your days going to museums and having coffee at sidewalk cafés.

Persons: Mary Jane Wilkie, I'd, I've, Paris, Charles, carte vitale, Lauryn Haas Organizations: Service, New, Gaulle, Eiffel, Paris, lhaas Locations: NYC, Paris, Wall, Silicon, New York City, COVID, Texas, New Mexico, Colorado, Europe, France, New York, York

☆ Earnings this week show shoppers will spend money for value, favoring two retail stocks
▼ + stars: | 2023-08-18 | by ( Paulina Likos | ) www.cnbc.com time to read: +11 min

A busy week of retail earnings revealed that American consumers are spending with value top of mind. This disparity signals that certain discretionary goods categories are working while others are not. TGT YTD mountain Target YTD performance Target on Wednesday reported a second-quarter that reflected weak sales along with a slowdown in discretionary spending. TJX YTD mountain TJX Companies YTD performance TJX tells a different story. COST YTD mountain Costco YTD performance Looking ahead, Costco is set to release its fiscal fourth-quarter earnings on Sept. 26.

Persons: Jim Cramer, Matthew Shay, Doug McMillon, Brian Cornell, That's, Maxx, TJX, Ernie Herrman, it's, ROSS, Ross, Jim, Jim Cramer's Organizations: Walmart, TJX Companies, Costco, National Retail Federation, CNBC, Retailers, Health, Wellness, Walmart's, Marshalls, & Beverage, Food & Beverage, Target, Ross Stores, Corbis, Getty Locations: Maxx, TJX, U.S, Teterboro , New Jersey

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy prosecuting insider trading is so problematicInsider trading is a type of market abuse when an advantageous trade is made based on material nonpublic information. The issue is there's not a specific law defining what insider trading is, which makes it difficult to prosecute cases as they arise. Additionally, a major component of prosecuting a case is proving intent, which requires a lot of evidence to support the claim. Watch the video above to learn more about what insider trading is and why it's so difficult to stop.

☆ Trick That Helps Big Pharma Companies Avoid Paying Billons in US Taxes
▼ + stars: | 2023-08-03 | by ( Brad Setser | Tess Turner | ) www.businessinsider.com time to read: +11 min

But take a look at the corporate disclosures of America's largest pharmaceutical companies, and a puzzling hole opens. Large legal loopholesThe offshore migration of these pharmaceutical companies' profits may seem egregious, but the tax gymnastics are generally legal. On paper, America's corporate-tax rate is 21%, but the country's largest and most profitable pharmaceutical companies don't pay anything close to that. What's more, the superlow rate enjoyed by American pharmaceutical companies isn't necessary for these firms to be internationally competitive. A spoonful of medicine to make the taxes go downAmerica's pharmaceutical companies have made great contributions to medicine.

Persons: Democratic Sen, Ron Wyden, AbbVie, it's, Keytruda, Gilead, Eli Lilly, they've, Brad W, Whitney, Tess Turner Organizations: Merck, National Institutes of Health . Pharmaceutical, Democratic, Pfizer, US pharma, US Treasury, Trump, Treasury, US, Denmark's, Nordisk, Novartis, National Institutes of Health, Whitney Shepardson, Council, Foreign Relations Locations: Oregon, America, Caribbean, Europe, Bermuda, Puerto Rico, Germany, Ireland, Singapore, Switzerland, Belgium, Denmark

☆ MrBeast sues to shut down the ghost-kitchen that produced MrBeast Burger
▼ + stars: | 2023-08-02 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +5 min

MrBeast, whose real name is Jimmy Donaldson, contracted Virtual Dining Concepts, based in Orlando, Florida, to launch the MrBeast Burger concept in 2020 during the Covid-19 pandemic. The MrBeast burger, of the virtual food delivery chain driven by YouTube celebrity Jimmy Donaldson, in New York, Feb. 24, 2021. Because of that harm, the lawsuit claims Donaldson has the right to end the breached contract and shut down the MrBeast burger business. For example, MrBeast Burger in New York has 2.1 stars on Yelp. In 2022, a physical MrBeast Burger opened at the American Dream mall in New Jersey, sending fans swarming the store on its debut.

Persons: MrBeast, MrBeast Burger, Jimmy Donaldson, Adam Friedlander, Donaldson, it’s, Burger, He’s, ” Donaldson, ”, “ Organizations: New, New York CNN, Court, of, Concepts, YouTube, The New York Times, Beast Investments, Burger, European Union, Investments Locations: New York, Southern, of New York, Orlando , Florida, European Union Canada, Thailand, Singapore, Mexico, Malaysia, New Jersey

China's application, by far the biggest economy, is next in line if they are dealt with in the order they were received, although that is not a given. The free trade agreement has its roots in the U.S.-backed Trans-Pacific Partnership, developed in part to counter China's growing economic dominance. I think that is completely wrong," Tim Groser, a former New Zealand trade minister and chief trade negotiator said. For CPTPP members, China's application is not the only political dilemma. Taiwan is also seeking to join the pact, in a move opposed by China that member trade negotiators remain unsure about.

Persons: Chris Hipkins, Shigeyuki Goto, Damien O’Connor, Trade Kemi, Damien O'Connor, Donald Trump, Henry Gao, couldn't, Tim Groser, CPTPP, Graham Zebedee, Britain's, New Zealand Wang Xiaolong, Hopes, Wang Huiyao, Antony Blinken, Natalie Black, Lucy Craymer, Joe Cash, Jamie Freed Organizations: New Zealand, Economic, New, Trade, Export, State, Business, Malaysian, Beijing, Pacific, New Zealand's Trade, Pacific Partnership, Communist Party, Singapore Management University, Ministry of Foreign Affairs, World Trade Organization, Australia, Center for, Political, Comprehensive Economic, U.S, Asia Pacific, Thomson Locations: British, Trade Kemi Badenoch, Taiwan, AUCKLAND, BEIJING, China, Pacific, Britain, Auckland, Ukraine, Costa Rica, Uruguay, Ecuador, U.S, Japan, Australia, Canada, Beijing, New Zealand, SOEs, Mexico, Center for China, Wellington, Asia

☆ Taiwan-US trade: Deal is key to countering diplomatic isolation, Taipei's top trade negotiator says
▼ + stars: | 2023-07-24 | by ( Eric Cheung | ) edition.cnn.com time to read: +5 min

Taipei CNN —The signing of a trade pact between Taiwan and the United States will play a key role in helping the island counter its diplomatic isolation from China, according to Taiwan’s top trade negotiator. Taipei has described the initiative as the most comprehensive trade agreement between the United States and Taiwan since Washington switched diplomatic recognition to Beijing in 1979. But Chinese pressure is not the only hurdle facing Taiwan’s trade negotiators like Deng, as trade deals could also become a politically sensitive issue on the island itself. In 2014, a controversial service trade agreement between Taipei and Beijing — which was passed by the then ruling Kuomintang — resulted in mass student protests, known as the Sunflower Movement. They opposed it because it would allow meat products containing ractopamine, an animal feed additive common in the United States.

Persons: John Deng, ”, ” John Deng, John Mees, Deng, Mao Ning, Kuomintang —, —, Will Ripley Organizations: Taipei CNN, CNN, Taiwan Affairs Office, Trans, Pacific, Sunflower Movement, Student Locations: Taipei, Taiwan, United States, China, Washington, Beijing, Britain, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, Peru, New Zealand, Singapore, Vietnam, Kuomintang

How much more will arrive in the market of last resort depends on China, which is stepping up imports of refined zinc. China's refined zinc imports, exports and net tradeCHINA FLIPS BACK TO NET IMPORTERChina imported 45,329 metric tons of refined zinc in June, the highest monthly tally since May 2021. The country exported 81,000 metric tons of zinc in 2022, including shipments of 7,800 metric tons to Mexico and 3,400 metric tons to the United States, two destinations that haven't in the past featured in China's zinc trade. The country's monthly refined zinc production has been notching double-digit growth rates since March. So far, however, there is scant evidence of a significant build of surplus metal in the mainland market.

Persons: It's, Paul Simao Organizations: London Metal Exchange, China, Shanghai Futures Exchange, Shanghai Metal, International, Study, Reuters, Thomson Locations: Singapore, Asian, contango, China, CHINA, Mexico, United States, backwardation, Shanghai, Europe, Antwerp

☆ Japan and UAE agree innovation, climate change cooperation
▼ + stars: | 2023-07-17 | by ( Rachna Uppal | ) www.reuters.com time to read: +4 min

State news agency WAM also said the two leaders discussed a comprehensive strategic partnership between the UAE and Japan. Japan is actively developing greener and renewable energy technologies and aims to be carbon neutral by 2050. Kishida will also try to promote Japanese know-how as energy-producing countries have pledged to achieve a net zero transition, especially ahead of the COP28 climate summit to be held in Dubai in November. The GCC is a six-nation regional union that comprises Saudi Arabia, UAE, Qatar, Kuwait, Oman and Bahrain. "The secure energy supply from the UAE has supported Japan's economic growth for many years," Kishida wrote in a piece published by UAE state news agency WAM on Sunday.

Persons: Mohamed bin Zayed Al Nahyan, Kishida, Ryan Carter, Fumio Kishida's, Sheikh Mohammed bin Zayed Al Nahyan, WAM, Saudi Crown Prince Mohammed bin Salman, Hikariko Ono, Rachna Uppal, Sakura Murakami, Andrew Mills, Aziz El Yaakoubi, Conor Humphries, David Evans, Alex Richardson, Jacqueline Wong Organizations: United Arab Emirates, United, UAE, United Arab, Japan, Qatar, Saudi Crown, Cooperation Council, GCC, Abu Dhabi National Oil Company, Thomson Locations: Japan, Qasr Al Watan, Abu Dhabi, United Arab, ABU DHABI, United Arab Emirates, UAE, State, Dubai, Saudi Arabia, Riyadh, Tokyo, Saudi, Qatar, Kuwait, Oman, Bahrain

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