United States

China vows retaliation if Trump slaps 25 percent tariff on $200 billion of Chinese imports

BEIJING/WASHINGTON (Reuters) – China said on Wednesday that “blackmail” wouldn’t work and that it would hit back if the United States takes further steps hindering trade, as the Trump administration considers slapping a 25 percent tariff on $200 billion worth of Chinese goods.

Factories From Asia to Europe Put on the Brakes Over Trade Tensions

(Bloomberg) Manufacturers in the world’s biggest economies are putting the brakes on production as they watch trade disputes with the U.S. unfold.

Reports on Wednesday showed factory activity in the U.S., Europe and Asia Pacific region slowed last month. With companies issuing warnings about the impact of tit-for-tat battles over import tariffs on their profits, the data suggest that protectionist threats are starting to weigh on global growth.

Apple shares hit record as bright forecast highlights future demand

(Reuters) – Shares of Apple Inc (AAPL.O) hit a record high on Wednesday and neared a $1 trillion valuation, after the company forecast blowout current-quarter sales and analysts said a September launch of new iPhones set the stage for sustained growth.

U.S. factory activity slows; private payrolls increase

WASHINGTON (Reuters) – U.S. manufacturing activity slowed in July amid signs that a robust economy and import tariffs were putting pressure on the supply chain, which could hurt production in the long term.

Inflation, gas prices, tariffs squeeze consumers

(AP) The price of a can of Coca-Cola? Likely going up. A package of Pampers? That too. Plane tickets? They also may be more expensive. These items and more may cost more in the coming months as people start feeling the effects of higher fuel prices and raw-material costs as well as a range of tariffs.

Trump administration links gas mileage to risk for drivers

WASHINGTON (AP) — The Trump administration says people would drive more and be exposed to increased risk if their cars get better gas mileage, an argument intended to justify freezing Obama-era toughening of fuel standards.

Transportation experts dispute the arguments, contained in a draft of the administration’s proposals prepared this summer, excerpts of which were obtained by The Associated Press.

Fed expected to keep interest rates unchanged

WASHINGTON (AP) — When the Federal Reserve wraps up its latest meeting, it will likely point to strong economic growth, low unemployment and rising inflation as reasons to stay on a path of gradually lifting interest rates. It is unlikely, however, to make any interest rate moves Wednesday.

The Fed’s statement may also discuss potential risks from rising trade tensions. But it is almost certain the statement will not acknowledge the recent criticism lodged at the central bank from President Donald Trump.

The Vimeo CEO Succeeded by Saying No to Spending Billions

Four years ago, video-sharing website Vimeo found itself competing with YouTube, Hulu, Netflix, Amazon, and HBO in a race to develop original content. Even at that time, getting in front of that rich field was unlikely. Then production budgets in the industry went bananas, going from mere millions of dollars to billions.

Into this battle for Vimeo’s future entered Anjali Sud.



India central bank hikes key rate for second straight meet; ‘neutral’ stance kept

MUMBAI (Reuters) – The Reserve Bank of India raised interest rates for the second straight meeting on Wednesday, but retained its “neutral” stance as it aimed to contain inflation while not choking growth.

Possibility of currency wars risk to India’s growth: RBI Governor

Mumbai, Aug 1 (IANS) The Reserve Bank of India on Wednesday said that the possibility of global protectionist measures culminating into currency wars can hamper India’s growth prospects.

Seven Indian firms in Fortune 500 list, IOC tops, RIL up 53 ranks

New Delhi, Aug 1 (IANS) Seven Indian companies feature in the US magazine Fortune 500 list of the world’s largest firms, with state-run Indian Oil Corp (IOC) remaining the top-ranked Indian company in the 2018 rankings and Reliance Industries (RIL) improving its position substantially.

India’s GST collection rises to Rs 964 billion

New Delhi, Aug 1 (IANS) Revenue collection under the Goods and Services Tax (GST) crossed the Rs 950 billion crore mark in July for the second month in a row and stood at Rs 964.83 crore, the government said on Wednesday.

India looking to compel e-commerce, social media firms to store data locally

MUMBAI/NEW DELHI (Reuters) – India is considering asking e-commerce and social media firms to exclusively store customer data locally, a move that could affect global giants that operate in the country such as Amazon, Facebook and its messaging service WhatsApp.