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☆ China's Xi sets boundaries for Trump with 4 'red lines'
▼ + stars: | 2024-11-18 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

AdvertisementChinese leader Xi Jinping has outlined his "four red lines" to US President Joe Biden. It will be another two months before US President-elect Donald Trump takes office, but China is already setting boundaries between the two countries. On Saturday, Chinese leader Xi Jinping outlined his "four red lines" in US-China ties at a meeting with US President Joe Biden. Trump could start his trade war on his first dayXi's comments came amid concerns that the world's two largest economies are set to head into conflict after Trump takes office on January 20. Advertisement"Trump means what he says when it comes to tariffs," wrote Josh Lipsky, the senior director at the Atlantic Council's GeoEconomics Center, in a note last week.

Persons: Xi Jinping, Joe Biden, Donald Trump's, Donald Trump, Xi, Trump, Florida Sen, Marco Rubio, Biden, Trump's, Josh Lipsky, Lipsky, Sarah Bianchi, Atlantic Council's Lipsky Organizations: APEC Economic, Bloomberg Businessweek, Florida, State, GeoEconomics, China, Atlantic Locations: China, Taiwan, Lima , Peru, Beijing

☆ Trump doubles down on provocative Cabinet picks as their fates hang in the balance
▼ + stars: | 2024-11-18 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

Not all of Trump’s picks are causing uproar. But in a conventional administration, controversies raging around at least four key Cabinet picks would be seen as a disaster. The president-elect’s son explains the planGaetz and several other Trump picks have caused consternation in some circles given the questions about their qualifications and past behavior. That’s what the American people want.”It would take a handful of Republican senators to block the most provocative Trump nominees early next year, given that Democrats are likely to vote en masse against them. If he’s qualified, he’s qualified.”Missouri Sen. Eric Schmitt said he believed Trump’s nominees would get confirmed.

Persons: Donald Trump, Matt Gaetz, Tulsi Gabbard, Pete Hegseth, Robert F, Kennedy Jr, Hegseth, Trump’s, Intrigue, Gaetz, —, Kennedy, Florida Sen, Marco Rubio, Trump, he’s, ” Johnson, South Dakota Sen, John Thune, Mike Johnson, CNN’s Jake Tapper, “, ” Sen, Adam Schiff, Jim Himes, they’re, Matt Gaetz —, Robert Kennedy, Tulsi, ” Trump, Donald Trump Jr, ”, Sen, Markwayne Mullin, “ I’ve, … I’ve, Matt, ” Missouri Sen, Eric Schmitt, Alabama Sen, Tommy Tuberville, Pennsylvania Sen, John Fetterman Organizations: CNN, Washington, Republican Senate, Office, Fox News, Florida Republican, of Justice, Department of Health, Human Services, Senate, Trump, South, Louisiana Republican, California Democrat, Democrat, House Intelligence, Sunday, Connecticut Democrat, CBS, Republican, Fox Business, Oklahoma Republican, Press, ” Locations: Gaetz, — Russia, Washington, Florida, South Dakota, “ State, Louisiana, United States, California, Connecticut, ” Missouri, Alabama, Pennsylvania

☆ 'My life is a million times better': A man who quit his desk job to be an electrician shares his takeaways from the switch
▼ + stars: | 2024-11-17 | by ( Christine Ji | ) www.businessinsider.com time to read: +6 min

Snyder shares his top 4 takeaways after making the switch from a white to blue collar job. If your Sunday evenings are tainted by the thought of clocking into work the next morning, you're not alone. Snyder, now 43 years old, has been an electrician for the last six years, and he's never looked back. Advertisement"As a union electrician, my life is a million times better," he said. If he's on the hunt for a new job, Snyder doesn't have to apply individually and interview — the union helps facilitate matching available jobs to union members looking for work.

Persons: Dustin Snyder, Snyder, he's, it's, who's, Snyder doesn't, I'm, Christine, cji Organizations: Bureau of Labor Statistics, AFL, Brotherhood of Electrical Workers Locations: Seattle

☆ How different a commander in chief will Trump be?
▼ + stars: | 2024-11-17 | by ( Peter Bergen | ) edition.cnn.com time to read: +27 min

On the face of it, there are sizable differences in foreign policy between Trump and President Joe Biden. In October, the Biden administration again helped to intercept a barrage of around 200 Iranian ballistic missiles, which also caused minimal damage to targets in Israel. Bringing US troops homeIn 2020, the Trump administration signed a US withdrawal agreement from Afghanistan with the Taliban. But after McMaster was pushed out of office in 2018, the Trump administration negotiated with the Taliban the withdrawal agreement of all US forces from Afghanistan. Nonetheless, the incoming Trump administration seems intent on resurrecting Schedule F, an executive order issued in the last months of the first Trump term.

Persons: sneezes, Trump, Donald Trump’s, Joe Biden, —, Biden, Trump’s, shored, Donald Trump, Xi Jinping, Andrew Harnik, ”, Benjamin Netanyahu, Netanyahu, Ahmad Gharabli, Israel, Jared Kushner, Qasem Soleimani, Mike Huckabee, Israel — Huckabee, David Friedman, Reagan, JD Vance —, H.R, McMaster, Nikki Haley, Mike Pompeo, Haley, Pompeo, Elise Stefanik, Mike Waltz, Florida, George W, Bush, Pete Hegseth —, Lloyd Austin, Jim Mattis, Robert Gates, John Ratcliffe of, Tulsi Gabbard, Vladimir Putin, Basher al, Assad, Putin, Diego Fedele, Ukraine doesn’t, John Bolton, Mark Rutte, Tom Homan, Homan, ” Trump, CNN’s Priscilla Alvarez, “ It’s, Maura Healey, Stephen Miller, CBS’s, Camp David, It’s, Kim Jong Un Organizations: CNN, Trump, NATO, Ukraine, White, of, Biden, CIA, Liberation Army, Center for Strategic, International Studies, Obama, Getty, West Bank, Abraham Accords, Arkansas Gov, US Defense Intelligence Agency, ISIS, McMaster, UN, GOP, Republican, Special, House Armed Services Committee, Pentagon, Fox News, Senate, Republicans, US Civil, Policy, State Department, Department of Homeland Security, Policy Institute, Rep, House Intelligence, NATO Trump, US Congressional Research Service, Joint Assault Brigade, National Police, of Homeland, American Immigration Council, NBC News, US Bureau of Prisons, Massachusetts Gov, National Guard, Congress, Washington Post, H.R, North, America Locations: Paris, Russia, China, Beijing, South China, United Kingdom, Australia, Taiwan, Washington, United States, Gaza, Lebanon, Iran, Iranian, Syria, Israel, Yemen, Jerusalem, AFP, Iraq, Saudi Arabia, Afghanistan, Pakistan, John Ratcliffe of Texas, Hawaii, Ukraine, Dnipro, Soviet, Toretsk, Crimea, Japan, NATO, “ Russia, Baltic, Western Europe, ”, Korean, North Korean

☆ Pittsburgh Pirates offer outrageous trade for one-of-a-kind Paul Skenes baseball card
▼ + stars: | 2024-11-15 | by ( Kevin Dotson | ) edition.cnn.com time to read: +2 min

CNN —Are the Pittsburgh Pirates turning into the Willy Wonka of Major League Baseball? Like Wonka’s famous golden ticket, the MLB team is offering a scrumdiddlyumptious prize in exchange for a rare, one-of-a-kind baseball card of their star pitcher Paul Skenes. To the lucky person who finds this card… We’d love to bring this card home to PNC Park to share with all Buccos fans. Here’s our offer: https://t.co/qSDgZg3C8p pic.twitter.com/efNGhjidQ4 — Pittsburgh Pirates (@Pirates) November 15, 2024In addition to the eye-popping offer from the Pirates, Skenes’ girlfriend, Livvy Dunne, has upped the ante with an offer of her own. For those feeling lucky, the Skenes card in question is hidden in a pack of 2024 Topps Chrome Update, available in stores now.

Persons: Willy Wonka, Paul Skenes, Charlie Bucket, Skenes, qSDgZg3C8p, efNGhjidQ4, Livvy Dunne, — Olivia Dunne Organizations: CNN, Pittsburgh Pirates, Major League Baseball, MLB, PNC Park, Baseball, PNC, Pirates, Topps

☆ Europe could try to stop — or get around — damaging Trump tariffs
▼ + stars: | 2024-11-11 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +6 min

Critics of the proposed tariffs say the policy could lead to higher prices for U.S. consumers. That leaves Asia and Europe having to quickly consider ways to mitigate the future impact of export tariffs, and whether to retaliate or to try to negotiate a get-out deal. But economists also say that the EU could try to use the carrot instead of the stick with the U.S., suggesting there are three other ways Europe might try to stop, limit or avoid Trump's likely tariff policy altogether. German Chancellor Angela Merkel deliberates with U.S. President Donald Trump during the G-7 summit in Canada on June 9, 2018. Jesco Denzel | Bundesregierung | Getty ImagesWhether there Europe can reach consensus on how or whether to do a deal with Trump is debateable, however.

Persons: Caitlin Ochs, Reuters Donald Trump's, Europe scrabbling, Trump, Flach, Donald Trump, Jean, Claude Juncker, Andrew Kenningham, Didier Lebrun, Photonews, Mujtaba Rahman, Ursula von der, Von der, Joe Biden, Kenningham, Angela Merkel deliberates, Denzel, Carsten Brzeski, Emmanuel Macron, Angela Merkel, There's Organizations: Reuters, Trump, ING, Germany's, International Economics, Germany, U.S, EU, Capital Economics, European Union, Getty, Eurasia Group, Sustainable Steel, US Trade, Technology Council, Bundesregierung Locations: Upper Bay, New York, U.S, Europe, EU, China, Asia, Germany, Ukraine, Canada, France

☆ Who Trump picks to fight his trade battles is apparently important to financial markets
▼ + stars: | 2024-11-11 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Chatter that President-elect Donald Trump could appoint former U.S. Trade Representative Robert Lighthizer to oversee trade policy is moving markets, from the dollar on currency exchanges to stocks that would be sensitive to tariffs. During Trump's first term as the president, Lighthizer was central to his protectionist policy and was U.S. trade representative role when Trump launched the trade war with China. "Any clues on Trump's appointments may be market moving," Jim Reid, research strategist at Deutsche Bank, said in a note. Trump's policy proposals to cut taxes and slap tariffs on imports are believed to undermine the currencies of some of America's biggest trading partners. Bank of America tracks a basket of consumer stocks with high exposure to China tariffs, and these companies plunged on Friday.

Persons: Donald Trump, Robert Lighthizer, Lighthizer, Trump, Jim Reid, Kamala Harris, hasn't Organizations: . Trade, Financial Times, Deutsche Bank, US Trade Representative, Trump, CNN, Reuters, Bank of America Locations: U.S, China

☆ Bitcoin hits new record topping $88k for first time
▼ + stars: | 2024-11-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin hits new record topping $88k for first timeMeltem Demirors, Crucible Capital general partner, joins 'Fast Money' to discuss why Bitcoin is on its way to becoming a consensus trade and an institutional asset.

Organizations: Crucible Capital

The West WingOne of Trump’s most important picks will be his White House chief of staff. Karoline Leavitt, who was Trump’s campaign spokeswoman, is being considered as White House press secretary – a job that typically is the most public-facing position in the White House. National security postsTrump has suggested his national security team would be tasked with reassessing the United States’ posture toward Ukraine and Russia, China, Iran, and the simmering conflict in the Middle East. The debate over a renewed Trump’s “America First” agenda is expected to pit Republican national security hawks against the party’s isolationist wing. Secretary of state and national security adviser will be among the most hard-fought positions to stand at the forefront of those shifts.

Persons: Donald Trump’s, Trump, Howard Lutnick, Linda McMahon, John McEntee, Cliff Sims, Ross Werner, Goldman Sachs, Trump’s, John Kelly, Susie Wiles, Wiles, Russ Vought, Brooke Rollins, Bob Lighthizer, Karoline Leavitt, –, Musk, Robert F, Kennedy Jr, Elon Musk, helms, Kennedy, ”, Ken Paxton, Matt Whitaker, Jeff Sessions, Sen, Mike Lee of, of National Intelligence John Ratcliffe, Mark Paoletta, Kash Patel, Patel, Christopher Wray, James Comey, Jeffrey Jensen, Louis, Bill Barr, Jensen, Michael Flynn, Barr, Florida Sen, Marco Rubio, Tennessee Sen, Bill Hagerty, Richard Grenell, Grenell, ” Arkansas Sen, Tom Cotton, Keith Kellogg, Ratcliffe, Gina Haspel, Cotton, Mike Waltz, Mike Pompeo, Elise Stefanik, She’s, Morgan Ortagus, David Friedman, Kelly Craft, Scott Bessent, “ He’s, MAGA, he’s, Elon, Hank Paulson, George, Jay Clayton, Lighthizer, McMahon, Doug Burgum, flinch, Jamieson Greer, CNN’s Kevin Liptak, Alayna Treene, Hannah Rabinowitz, Kylie Atwood Organizations: CNN, Trump, White House, Heritage Foundation, White, Pentagon, West, America, Policy Institute, RFK Jr, SpaceX, Senate, Republicans, PAC, Department of Health, Human Services, Environmental Protection Agency, Department of Agriculture, Justice and Homeland Security, of National Intelligence, Conservative, FBI, Republican, Central Intelligence Agency, CIA, New York Republican, House GOP, United Nations, UN, State Department, Soros, Goldman, George Bush’s, Department, Chinese Communist Party, Securities and Exchange Commission, Treasury, Commerce Department . North Dakota Gov, US Trade Locations: Trump, Central Park, Texas, Mike Lee of Utah, Beach, St, United States, Ukraine, Russia, China, Iran, Florida, Tennessee, Japan, Germany, ” Arkansas, Barr, UN

☆ Trump’s extreme vision for America hikes pressure on Harris
▼ + stars: | 2024-10-14 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

CNN —Donald Trump is invoking a vision of an extreme new White House term that would transform America and rock the world. And Vice President Kamala Harris has only three weeks to avert it, as she struggles to restore momentum in a neck-and-neck race to Election Day. Supporters of Vice President Kamala Harris listen to her speak during a rally at Ripon College, in Wisconsin, on October 3. With the nation in such a sour mood, Harris’ incumbency as vice president is a liability. His post underscored what Harris represents for those who fear the very real prospect of Trump’s return.

Persons: Donald Trump, Kamala Harris, Trump baselessly, Harris, “, ”, heckler, Trump, Joe Biden, Sen, JD, genuflection, Vladimir Putin, Bill Clinton, Barack Obama —, “ He’s, Jim Vondruska, Dread, Hillary Clinton, Biden, he’s, ABC’s, it’s, Trump’s, Will Harris, Brendan Smialowski, Doug Sosnik, Harris plateaued, David Chalian, Sosnik, ” Harris, Obama, ” Obama, “ Donald Trump, Chris Murphy, ” Murphy Organizations: CNN, Republican, Sunday, Fox News, Democratic, CBS, Kremlin, Trump, Ripon College, Democrats, ABC, NBC, Electoral College, White, NBC News, Air Force, Joint Base Andrews, Getty Images, Connecticut Democrat Locations: ”, Ohio, Arizona, Colorado, United States, illegals, California, Covid, Russian, North Carolina, Wisconsin, Afghanistan, Pennsylvania, Michigan, Georgia, Maryland, America, Connecticut

☆ Trump tariffs: Trade rep Lighthizer warns Wall Street to be prepared
▼ + stars: | 2024-10-12 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

Asked about the note, Trump campaign press secretary Karoline Leavitt did not deny that Lighthizer has been meeting with investors. But she cautioned, "No policy should be deemed official unless it comes from President Trump directly." Lighthizer is advising Trump's presidential campaign on economic issues, according to Inside U.S. Trade. Lighthizer is also a director of Trump Media, the publicly traded social media company that is majority owned by the former president. Lighthizer's reported conversations, and his apparent influence with Trump, both underscore how central tariffs are to carrying out Trump's overall economic vision.

Persons: Robert Lighthizer, Donald Trump, Donald Trump's, Wall, Piper Sandler, We've, Trump, Karoline Leavitt, Lighthizer, Trump's, AFPI, Lighthizer's, Kamala Harris, Anna Kelly, Harris, Joe Biden, Kelly Organizations: Republican, Trade, CNBC, U.S, Trump Cabinet, Center for American Trade, Trump, America, Policy, Trump Media, Democratic, Republican National Locations: York , Pennsylvania, Washington

☆ Elon Musk just showed the world his shiny new Robovan. There's already a Chinese vehicle with the same name.
▼ + stars: | 2024-10-11 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

A separate robotics startup, Starship Technologies, filed a US trademark application for "Robovan" in 2017. On its website, WeRide said it had received "over 10,000 indication orders from a leading express delivery company" for the car. AdvertisementIn July 2017, a company called Starship Technologies filed a trademark for "Robovan," per the United States Patent and Trademark Office. Starship, which specializes in autonomous delivery robots, was founded by Skype cofounders Ahti Heinla and Janus Friis. Unlike Tesla and WeRide, Starship Technologies' offering isn't a self-driving vehicle.

Persons: WeRide, —, Elon Musk's, Tony Han, Han, Janus Friis, Musk, Tesla's, 4DDqJtGATU — Elon, Tesla Organizations: Starship Technologies, Service, CNBC, JMC, Ford Motors, Jiangling Motors Corp, Ford, United States Patent, Office, Skype, Mercedes, Benz, Tesla, Technologies, YouTube, Business Insider Locations: Guangzhou, China

☆ Fact check: Trump, on a lying spree, made at least 40 separate false claims in two Pennsylvania speeches
▼ + stars: | 2024-10-10 | by ( Daniel Dale | ) edition.cnn.com time to read: +24 min

As Election Day draws nearer, the Republican presidential nominee has made false claim after false claim on a dizzying variety of subjects. FEMA and migrants: Trump falsely claimed of the Federal Emergency Management Agency: “They have no money. Trump’s opponents and the election: In Reading, Trump falsely claimed of his election opponents: “They are cheatin’ dogs, I will tell you that.” In Scranton, he falsely claimed, “Their first meeting is: ‘How do we cheat?’” This is all nonsense. Trump’s border wall: Trump repeated his false claim that “I built over 500 miles of wall” on the southern border. Military equipment surrendered to the Taliban: Trump repeated his false claim that “we gave $85 billion worth” of US military equipment to the Taliban.

Persons: Donald Trump, Hurricane Helene, Hurricane Milton, Trump, “, Harris, Kamala Harris “ didn’t, It’s, Biden, Roy Cooper, Joe Biden, ’, ”, Harris ’, ” Trump, Walz, Tim Walz, –, Tim, “ everybody’s, Trump’s, Obama, Kamala, ” Harris, ” Roberto Briceño, ” Helen Fair, James Ott, ‘, ‘ That’s, Jack Smith, Smith, New York Times “, Charlie Stadtlander, Stadtlander, Mueller, ‘ He’s, ’ …, Dean Baquet, Arthur Sulzberger Jr, Donald Trump’s, “ Biden, Chris Wallace, Hunter Biden, ” Wallace, Wallace interjected, Freddie Mac, ” We’ve, Meghan McCain, McCain, Alexandria Ocasio, Cortez, Nancy Pelosi, there’s, ” Biden, Robert Hur, Biden’s Organizations: Washington CNN, Republican, FEMA, Federal Emergency Management Agency, Congress, North Carolina Gov, Democrat, Democratic, CBS, Supreme, Minnesota Gov, Electoral College, Department of Energy, Biden, “, CNN, Venezuelan, of, Institute for Crime & Justice, Research, Birkbeck , University of London, House Republicans, Trump, KDKA, Service, Secret Service, International Association of Firefighters, Scranton Firefighters, Scranton Times, Tribune, Presidential, National Archives, Records Administration, New York Times, The Washington Post, ”, Intelligence, The New York Times, Times, ISIS, Military, Taliban, Pentagon, Fox News, China Locations: Pennsylvania, Scranton, Reading, ”, Hurricane, North Carolina, Washington , Montana, Colorado, New York City, Paris, fracking, Venezuela, Caracas, United States, United Kingdom, “, California, Butler, Butler , Pennsylvania, Pittsburgh, Blair County , Pennsylvania, Russia, Afghan, China, Moscow, Alexandria, New Hampshire, Florida

☆ China chip stocks are soaring as excitement grows for another round of stimulus from Beijing
▼ + stars: | 2024-10-07 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Chinese chip stocks gained $13 billion on Monday, led by a 22% rise in shares of SMIC. The gains come as traders expect Beijing to extend stimulus support to the semiconductor industry. AdvertisementChinese chip stocks soared Monday, fueled by hopes that Beijing's next round of stimulus will boost the country's semiconductor industry. The new round of stimulus could include support for its chip companies. China first announced its stimulus measures last month, pledging to rescue the economy from a struggling property sector and weak domestic demand.

Persons: —, Beijing's Organizations: Service, Semiconductor Manufacturing International Corp, CSI Locations: SMIC, Beijing, China, Hong Kong

☆ America's trade war is coming for Gen Z's favorites
▼ + stars: | 2024-10-06 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +10 min

Many Gen Zers purchase cheap goods from the Chinese e-commerce companies Shein and Temu. The Biden administration is taking steps to make more Chinese imports subject to import fees. AdvertisementTwo of Gen Z's favorite shopping platforms for cheap goods could get more expensive in the near future. The trade provision, called "de minimis," allows US consumers to avoid paying these import fees on direct-to-consumer shipments of less than $800. However, import fees could vary by product.

Persons: Biden, —, Gen, Chad Schofield, wouldn't, it's, — Schofield, Kaziukėnas, Joe Biden's, Xers, Temu, Schofield, Donald Trump, Kamala Harris, Shein, he'd, Temu It's, they'd Organizations: Service Locations: Shein, China, Canada, Mexico

☆ These 9 'Back to the USA' stocks will get the biggest boost from an American manufacturing boom: Bank of America
▼ + stars: | 2024-09-21 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. He believes that the rise of the US trade deficit over the past year will likely make it a key issue for both political parties. AdvertisementAlthough the Trump administration has traditionally been linked to trade wars and more protectionist measures, Biden's administration maintained the Chinese tariffs. It will create more manufacturing jobs and boost demand for domestic companies with in the logistics and supply chain process. A September 19 research note from Bank of America suggests that this shift is set to benefit domestic small- and mid-cap stocks most.

Persons: —, Trump, Manish Kabra, Kabra, Jill Carey Hall Organizations: Service, Business, US, of, Tax, Bank of America Locations: China, Red

☆ Ultraprocessed foods may increase your risk for type 2 diabetes, study shows
▼ + stars: | 2024-09-20 | by ( Madeline Holcombe | ) edition.cnn.com time to read: +6 min

Packaged foods, soda, chips, hot dogs, chicken nuggets and ice cream all fall under the category of ultraprocessed foods, which can include dozens of synthetic additives such as preservatives, emulsifiers and artificial dyes. For every 10% increase in the amount of a person’s diet made up of ultraprocessed foods, the team found that there was a 17% increased risk for developing type 2 diabetes, the data showed. The scientists also found that reducing the amount of ultraprocessed food you are consuming can lower the risk, according to the study. “Ultra-processed foods are everywhere,” Dicken said via email. “We also know that increased body fat (from excess calories) increases the risk of type 2 diabetes.

Persons: Nerys Astbury, Astbury, Samuel Dicken, ” Dicken, “, ”, Sarah Gallo, Dicken, It’s, Hilda Mulrooney, Mulrooney, ” Mulrooney Organizations: CNN, Nuffield Department, Primary Health Care Sciences, University of Oxford, University College London, Consumer Brands Association, London Metropolitan University Locations: Europe, US

☆ Trump-supporting hedge fund billionaire says he'll pull his money out of the market if Harris wins the election
▼ + stars: | 2024-09-18 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The Trump-supporting hedge fund billionaire criticized Harris' tax plans on a Fox Business segment. Paulson said a proposed tax on unrealized gains would "could mass selling of almost everything." AdvertisementBillionaire hedge fund manager and Trump donor John Paulson told Fox Business that he will sell his stocks if Kamala Harris wins the presidency in November. Paulson was particularly focused on Harris' proposal to levy a 25% tax on unrealized gains for individuals worth more than $100 million. AdvertisementBillionaire Mark Cuban took to X, formerly Twitter, to compare how businesses would do between Harris' tax policy and Trump's plans for broad-sweeping tariffs, concluding that Harris would offer more in after-tax profit.

Persons: John Paulson, Kamala Harris, Harris, Paulson, —, I'd, Kent Smetters, Donald Trump, Mark Cuban Organizations: Trump, Fox, Service, Billionaire, Fox Business, Penn Wharton Budget, Business, Biden, Jobs, Republican

☆ He was a theater and English major in the UK. Now, he's one of Singapore's 4 masters of wine.
▼ + stars: | 2024-09-16 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +5 min

One of the country's four masters of wine, Hemming oversees wine programs across Asia for 67 Pall Mall, a private club for wine lovers. Reflecting on his unlikely journey from aspiring actor to wine connoisseur, he shared how he transitioned from managing a wine shop to mastering the complex world of fine wine. As an English literature and theater major in the UK, Hemming initially believed the stage was his calling. But after graduating in 2001, he applied for a job at a wine shop in London. "To even register, you must have a reference from your employer saying that you are working in a wine role," Hemming said, along with a recommendation from another master of wine.

Persons: —, Richard Hemming, Shakespeare, Hemming, " Hemming, Jancis Robinson, Grant Ashton Organizations: Service, Business, Spirit Education Trust, Financial Times, North, Masters of, Pall Mall London Locations: Asia, London, Notting, Australia, Europe, Singapore, Pall, Hong Kong

☆ Why Trump’s trade hero turned against tariffs
▼ + stars: | 2024-09-14 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +15 min

Vice President Kamala Harris has lambasted Trump’s tariff plan as a tax, but President Joe Biden has maintained tariffs Trump put in place during his presidency. We used trade policy, or tariffs, as a form of reciprocity, where we said, OK, our tariffs are pretty high. So that’s what led to all these trade agreements, the General Agreement on Tariffs and Trade, GATT, which became the WTO (World Trade Organization), NAFTA (North American Free Trade Agreement) and other free trade agreements that we’ve reached. He began to entertain this idea of reciprocity, of trying to reduce foreign tariffs by offering cuts in our tariffs. How do those tariffs compare with the late 19th century tariffs?

Persons: CNN —, Donald Trump, Kamala Harris, Joe Biden, Biden, Read, Douglas Irwin, Irwin, William McKinley —, Trump, IRWIN, there’s, It’s, we’ve, William McKinley WOLF, William McKinley, McKinley, they’ve, Bush, H.C ., William Jennings Bryan, that’s, they’re, it’s, Britain WOLF Organizations: CNN, Republicans, Democrats, Trump, Dartmouth College, Commerce, US Trade, Trade, WTO, World Trade Organization, American Free Trade, of Congress, University, Virginia’s, Federal, WOLF, Peterson Institute for International, Republican Party Locations: China, Ohio, Pennsylvania, Homestead , Pennsylvania, H.C, Buffalo, trillions, United States, it’s China, Britain, Japan

☆ Biden finalizes increases to China tariffs
▼ + stars: | 2024-09-13 | by ( Katie Lobosco | ) edition.cnn.com time to read: +2 min

Washington CNN —The Biden administration said Friday that it has finalized tariff hikes on certain Chinese-made products that the president first announced in May. The administration’s increases come as Vice President Kamala Harris and former President Donald Trump have clashed over tariffs on the campaign trail. Trump implemented sweeping tariffs on about $300 billion of Chinese-made products when he was in office. “Today’s finalized tariff increases will target the harmful policies and practices of the People’s Republic of China that continue to impact American workers and businesses,” US Trade Representative Katherine Tai said in a press release. China is expected to retaliate by increasing tariffs on US-made goods.

Persons: Washington CNN —, Biden, Kamala Harris, Donald Trump, Harris, Trump, Joe Biden, Today’s, Katherine Tai, Wang Wenbin, ”, He’s, Kayla Tausche Organizations: Washington CNN, US Trade Representative’s, US, Trade Organization Locations: People’s Republic of China, China

☆ These 5 parts of the stock market are most at risk if Trump wins the election and implements wide-reaching tariffs, Barclays says
▼ + stars: | 2024-09-12 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The presidential candidate has pledged to unleash universal tariffs on all US trade if elected. The firm outlined which five sectors are the most exposed to losses if Trump wins and implements tariffs. To be sure, US firms have some way of navigating higher costs associated with tariffs, Barclays said. Other economists have loudly criticized Trump's tariff idea as fuel for inflation, given that prices will rise amid a pullback in foreign products. AdvertisementAccording to Barclays, inflation would climb 0.09 percentage points in the short run, and US GDP could take a 1.2% hit in the first 12 months.

Persons: Trump's, —, Donald Trump's, Kamala Harris, Trump Organizations: Barclays, Trump, Service, Democratic, Companies Locations: Mexico

☆ How Trump vs. Harris is playing out on Wall Street ahead of the debate
▼ + stars: | 2024-09-10 | by ( Kaja Whitehouse | ) www.businessinsider.com time to read: +3 min

This story is available exclusively to Business Insider subscribers. For Wall Street bankers, traders, and executives, the election also stands to affect their jobs and business prospects, from US trade relations to demand for megamergers. To see where Wall Street's top leaders stand ahead of Tuesday's debate, Business Insider scoured the Federal Election Commission website for individual donations from Wall Street leaders between 2023 and August. The data showed donations from leaders across investment banking, private equity, and hedge funds, including Blackstone and Evercore. See below to find which Wall Street tycoons are voting for which candidate in 2024 presidential election, in alphabetical order:

Persons: —, Donald Trump, Kamala Harris —, Richard Haass, Goldman Sachs, Trump, China —, Morgan Stanley, Harris, Joe Biden's, Biden Organizations: Service, Foreign Relations, Business, Centerview Partners, Wall Street, megamergers, Blackstone, JPMorgan, Citi, Bank of America Locations: China

☆ Europe's economy survived 'terrible prophecies' but must now tackle trade with China: EU's Gentiloni
▼ + stars: | 2024-09-07 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

The European Union has successfully avoided the "terrible prophecies" that threatened its economy in recent years, but must still contend with Russia's war in Ukraine and a tenuous trade relationship with China, outgoing European Commissioner for Economy Paolo Gentiloni said Saturday. A former prime minister of Italy, Gentiloni has served as the European Commissioner for Economy under EC President Ursula von der Leyen since December 2019. Gentiloni will not be returning for a second term as commissioner following Von der Leyen's tumultuous re-election as president — but he has laid out the economic picture that awaits his imminent successor. "The economy is growing, slowly, but growing. And the risks of differences among the European Union, that was very high when the pandemic happened, are very limited," he noted.

Persons: Paolo Gentiloni, Gentiloni, Steve Sedgwick, Ursula von der Leyen, Von der, —, Russia's Organizations: European Union, Economy, European, European Central Bank, Moscow, European Commission Locations: Ukraine, China, Europe, Cernobbio, Italy's, Como, Italy

☆ Western sanctions are so tight that Russia and China could soon use an ancient trading system. It's worked before.
▼ + stars: | 2024-08-13 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Read previewRussia and China are planning to revive the age-old practice of barter trade to get around Western sanctions, Reuters reported on Thursday. Since barter trade doesn't require monetary payments, it would allow Russia and China to skirt such issues. Russia has used barter trade beforeIt would not be Russia's first time using barter trade. Problems with barter tradeEven so, barter trade isn't widely practiced in modern society. Russian authorities are working on other ways to skirt Western payment sanctions.

Persons: —, Alexandra Prokopenko Organizations: Service, Reuters, Business, Russia, Kommersant, United Arab, RIA Novosti, Carnegie Russia Eurasia Center Locations: Russia, China, Russian, Ukraine, United Arab Emirates, Turkey, Austria, Afghanistan, Iran, Pakistan, India

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