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Trump’s tariffs head for a legal minefield

GENEVA ( ) – President Donald Trump’s announcement last week of a 25 percent tariff on U.S. imports of steel and 10 percent on aluminum caused a global outcry.

The following sets out how Washington might try to justify the tariffs at the World Trade Organization, which is supposed to police agreed free trade rules, and how the WTO might address the issue.

NO WORD TO THE WTO

The tariffs announced by Trump, which have not been officially notified to the World Trade Organization, put a tax on steel and aluminum coming into the United States from all over the world.

Even though the United States has declined to declare the tariffs at the WTO, they can still co,上海夜玩网论坛Barbara,me under its jurisdiction if countries affected raise complaints.

Although Trump has said some countries such as Canada and Mexico will get exemptions, the tariffs threaten to leave the rest of the world facing oversupply of steel and aluminum.

THE TRUMP CARD: “NATIONAL SECURITY”

Trump has justified the tariffs by invoking a “national security” clause under Section 232 of the 1962 U.S. Trade Expansion Act, the first time it has been used since the WTO was created in 1995.

The WTO’s General Agreement on Tariffs and Trade does allow an exemption from its rules for national security reasons.

However, national security has never been used as a defense in a WTO dispute, although it is expected to arise in a current row between Qatar and the United Arab Emirates.

Trade lawyers talk about national security as the “nuclear option” or a “systemic risk” — because if it becomes normal practice, WTO discipline will break down and no country will be bound by the international trade rules.

CAN YOU BEAT “NATIONAL SECURITY”?

In a WTO meeting on the Qatar case last year, a U.S. diplomat said that if national security was invoked, the WTO dispute settlement process was effectively over, and the parties should settle the issue elsewhere, or use the “good offices” of the WTO director general or another third party to help resolve it.

That appears to be how Washington expects to deal with any WTO challenge to its tariffs, but lawyers see gaps in the U.S. case, partly because of Trump’s seemingly arbitrary exemptions.

In addition, while the administration has said it needs domestic supply for tanks and warship上海夜生活论坛s, much of the taxed steel and aluminum has no military purpose. The U.S. Department of Defense itself advocated only specifically targeted steel tariffs, and delaying aluminum duties altogether.

Cato Institute trade policy analyst Simon Lester found the original 1947 GATT drafting transcript in which the United States warned against trade policies “which really have a commercial purpose … under the guise of security”.

WHAT KIND OF TARIFFS ARE THEY?

Many trade experts say the U.S. tariffs appear to fall into the category of “safeguards” – a kind of emergency protection that is allowed if a sudden, unforeseen and damaging import surge threatens seriously to damage a particular industry.

Whether or not they are safeguards is not up to Trump. WTO judges have previously ruled that the country imposing a particular trade policy cannot decide which area of the WTO rules the policy should be governed by. It depends on the “content and substance” of the policy ,上海夜生活群Gabe,itself.

WHY DOES IT MATTER?

If they are safeguards, Trump’s tariffs may not be covered by the national security exemption, which applies to the WTO’s GATT rules but not explicitly its safeguards agreement.

Luckily for Trump, the checks and balances on safeguard tariffs are weak, allowing a country to demand compensation only after three years. However, that three-year wait only applies if the tariffs meet the standards of the WTO safeguard agreement – and Trump’s critics say his tariffs do not.

If they are right, a country unfairly affected by the tariffs can retaliate immediately, imposing trade sanctions to balance out the damage done by the safeguards. And there is no provision for “national security” claims to st,上海夜网邀请码Idris,op them.

However, retaliatory measures could quickly turn into a tit-for-tat trade battle, undermining the rules-based system that has governed global trade for almost a quarter of a century.

Oh nuts! China shoppers lament tariffs on US almonds, pistachio and…

SHANGHAI ( ) – As Beijing and Washington exchange barbs that threaten a potential trade war, health-conscious Chinese shoppers are beginning to fret over what this could mean for their pockets: a potential jump in prices for U.S.-grown cherries and pistachios.

Close to 80 fruit and nut products from the United States are at risk, after China declared plans to levy additional duties on up to $3 billion of U.S. imports in retaliation against U.S. President Donald Trump’s plans to slap tariffs on up to $60 billion in Chinese goods.

U.S. exports of fruits, frozen juices and nuts to China amounted to $669 million last year, and it was the top supplier of apples, cherries, walnuts and almonds, with much of the produce coming from grower,夜上海论坛Lark,s in California, Florida and Michigan.

“At the end of the day it’s us common people who will pay the bill because fruits will become pricier,” said one user on China’s Twitter-like Weibo service, where the potential U.S.-China trade war ranked as the most-read topic on Friday.

“American pistachios will become even more expensive. I will need to switch to use domestic peanuts from pistachios in my meals,” said another user. ,上海会所夜网Kailani,

Chinese imports of fresh fruit and nuts have surged in recent years thanks to the country上海夜网’s rapidly growing middle class, which has given rise to a new generation of consumers willing to splurge on healthy food.

In a demonstration of their buying power,,上海夜网推油Quaid, Chinese shopping portal JD.com sold 57 million cherries to Chinese consumers in one day during a shopping event in June last year.

These fruits and nuts are part of a list of 128 U.S. products that could be hit with tariffs if the two countries fail to agree on trade issues, China’s Ministry of Commerce said.

The two countries have, however, said they are in talks. The Trump administration says it wants to impose the tariffs in response to China’s “economic aggression”.

Still, not all Chinese consumers viewed negatively the potential higher duties on U.S. fruit and nuts. Some said they could find alternatives from Australia and Europe, with at least one saying the tariffs could be good for China’s own growers.

“These products all have domestic equivalents,” said the commentator on Weibo. “This could lift demand!”

Facebook, Twitter support Apple on encryption dispute with FBI

SAN FRANCISCO ( ) – Facebook Inc (FB.O) and Twitter Inc (TWTR.N), two of Silicon Valley’s most powerful companies, on Thursday backed Apple Inc’s (AAPL.O,上海夜网邀请码Radley,) refusal to help the FBI break into an iPhone used by a shooter in the San Bernardino attack, saying that complying would set a dangerous precedent for privacy.

It took two days, but the companies’ entry solidifies a small but powerful band of tech giants supporting Apple in its quest to buck government demands that it says would irreparably damage security and erode consumer trust.

Among the first to come to Apple’s defense was its chief rival. Chief Executive Officer Sundar Pichai of Alphabet Inc’s (GOOGL.O) Google tweeted in support of Apple on Wednesday.

But other companies are staying mum. Yahoo Inc YHOO.O and Microsoft Corp (MSFT.O) have yet to weigh in on the case.

In characteristic fashion, Twitter CEO Jack Dorsey used the service itself to lend support to Apple CEO Tim Cook, tweeti,上海夜哪里艳遇Tallulah,ng “We stand with @tim_cook and Apple (and thank him for his leadership).” (bit.ly/1RbfI5j)

In a statement, Facebook said, “We will continue to fight aggressively against requirements for companies to weaken the security of their systems.”

The case has intensified the rift between tech companies,上海仙霞路夜生活Lark, and law enforcement over the limits of encryption. And law enforcement groups have been vocal about their support for the Justice Department.

Although some firms have remained silent, the industry is firmly on Apple’s side, said Aaron Levie, CEO of cloud-based storage provider Box Inc (BOX.N).

“Companies choose to use their political capital when it is really important or relevant to them,” Levie said. “If individually pressed you would see the same message from essentially any Internet or hardware or enterprise software CEO or company, and that’s because the fundamental security model of our technology would break if you were to comply with this kind of order.”

Levie said he unequivocally supports Cook’s stance.

“The whole grounds on which Apple is standing on are just super important,” he said.

At the center of the case is an iPhone used by Rizwan Farook, who along with his wife, Tashfeen Malik, killed 14 people and wounded 22 in a shooting rampage in San Bernardino, California.

上海夜生活

The young married couple sympathized with Islamic State militants, and government investigators want the data on the phone to learn more about their activities the day of the shooting and their contacts with either accomplices or Islamic State.

Apple’s Cook had said the court’s demand threatened the security of Apple’s customers and had “implications far beyond the legal case at hand.”

U.S. core capital goods orders bolster business spending outlook

WASHINGTON ( ) – New orders for key U.S.-made capital goods rebounded more than expected in February after two straight monthly declines and shipments surged, which could temper expectations of a sharp slowdown in business spending on equipment in the first quarter.

The Commerce Department’s report on Friday prompted some economists to raise their economic growth estimates for the first three months of the year. They were slashed last week after data showed retail sales fell in February for the third month in a row.

The Federal Reserve painted上海夜生活网 an upbeat picture of the economy on Wednesday when it raised interest rates and forecast at least two more increases for 2018.

“There is speculation that the economy is running out of room to grow. But the jump in core durable goods purchases, machinery that is used in factory production, keeps the recession winds at bay,” said Chris Rupkey, chief economist at MUFG in New York.

Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, jumped 1.8 percent last month as demand increased almost across the board. That was the biggest gain in five months and followed a 0.4 percent decrease in January.

Economists polled by had forecast those orders to rise 0.8,上海夜生活群Landon, percent in February. Core capital goods orders increased 7.4 percent on a year-on-year basis.

Shipments of core capital goods increased 1.4 percent last month, the biggest advance since December 2016, after a 0.1 percent gain in January. Core capital goods shipments are used to calculate equipment spending in the government’s gross domestic product measurement.

Business spending on equipment powered ahead in 2017 as companies anticipated a hefty reduction in the corporate income tax rate. The Trump administration slashed that rate to 21 percent from 35 percent effective in January. ,上海夜生活论坛Hadley,

U.S. financial markets were little moved by the data as investors worried that President Donald Trump’s announcement on Thursday of tariffs on up to $60 billion of Chinese goods could start a global trade war.

Stocks on Wall Street were trading lower while prices of U.S. Treasuries were mixed. The dollar .DXY fell against a basket of currencies.

STRONG BUSINESS SPENDING There had been concerns spending could slow sharply after double-digit growth in the last two quarters.

While the surge in core capital goods orders in February suggests business spending on equipment is on solid footing, economists said the threat of a trade war cast a cloud on the outlook for capital investment.

“Uncertainty hurts capital spending and the greatest uncertainty in the economic environment at present is the wild-card threat that U.S. tariff actions poses to the global trading system,” said John Ryding, chief economist at RDQ Economics in New York.

For now, spending on equipment remains underpinned by robust business confidence, strengthening global economic growth and a weakening,上海高端夜生活在那里Ebba, dollar, which is boosting demand for U.S. exports. That is helping to support manufacturing, which accounts for about 12 percent of U.S. economic activity.

The strength in core capital goods shipments, together with a surge in industrial production in February, could help offset the impact of soft consumer spending on first-quarter growth.

Economists at Barclays raised their first-quarter GDP growth estimate by one-tenth of a percentage point to a 1.9 percent annualized rate. JP Morgan lifted its estimate for equipment spending growth in the first three months of the year to a 7 percent rate from 5 percent.

A second report from the Commerce Department on Friday showed new home sales falling for a third straight month in February, suggesting a moderation in growth in spending on residential construction in the first quarter.

“This morning’s data suggest slightly lower brokers’ commissions in the first quarter,” said Pooja Sriram, an economist at Barclays in New York.

The government reported last month that the economy grew at a 2.5 percent pace in the fourth quarter. However, revisions to December data on construction spending, factory orders and wholesale inventories have suggested the fourth-quarter growth estimate could be raised to a 3.1 percent pace. The government will publish its third GDP estimate on Wednesday.

Last month, orders for machinery soared 1.6 percent. There were also hefty increases in orders of primary metals and electrical equipment, appliances and components.

Orders for computers and electronic products fell 0.2 percent, with bookings for communications equipment recording their biggest drop since December 2015.

Overall orders for durable goods, items ranging from toasters to aircraft that are meant to last three years or more, vaulted 3.1 percent last month as demand for transportation equipment soared 7.1 percent after tumbling 3.5 percent in January. Orders for motor vehicles and parts increased 1.6 percent last month after edging up 0.1 percent in January.

Unfilled durable goods orders rebounded 0.2 percent in February after slipping 0.3 percent in the prior month. Inventories of these goods increased 0.4 percent, matching January’s gain.

U.S. pork to feel further chill from China tariff threat

BEIJING ( ) – China’s threat of steep tariffs on American pork imports will put further pressure on an industry already facing weaker demand from the world’s top buyer of the meat.

Beijing said on Friday it was considering levying an additional 15 percent tariff on U.S. products including dried fruit, wine and steel pipes, and an extra 25 percent duty on pork products and recycled aluminum in response to U.S. tariffs on steel and aluminum.

Some industry participants said the tariffs and the threat of a brewing trade war between China and the United States would create more Chin上海夜生活网ese demand for European pork exporters, who have boosted supplies to China in the last two years after sanctions on Russia closed one of the region’s key markets.

“Even without the tariffs, with such low prices, we will use more domestic pork for our Chinese business,” said Luis Chein, a company director at WH Group, China’s top pork producer and its biggest importer of U.S. pork.

WH Group has also been increasing its supplies from South American and European countries in recent years, said Chein.

Rapid expansion of large-scale pig farms in China has been boosting domestic supply and lowering production costs. As a result, China’s pork prices are currently hovering around 10 yuan ($1.58) per kg, their lowest level in nearly four years and already squeezing demand for imports.

It is not yet clear if or when China will implement the tariffs in response to U.S. President Donald Trump’s plans for tariffs on up to $60 bi,上海夜生活网419Sabrina,llion in Chinese goods.

Even so, overall Chinese pork imports are set to fall by as much as 30 percent this year because,上海夜网邀请码Jacklyn, of the decline in domestic hog prices, said Feng Yonghui, chief researcher with industry website Soozhu.com.

“Currently U.S. pork doesn’t have much of an advantage,” said Feng.

An importer based in eastern China’s Shandong province said: “With those tariffs, we wouldn’t import U.S. pork. We would just import from Germany and Denmark.”

China plays a valuable role in the global pork market because of its demand for “variety meats” – pig feet, elbows and offal – which have little value otherwise.

The United States was by far its biggest overseas supplier of those parts last year, shipping 416,000 tonnes, worth $874 million. Germany was a distant second with 147,000 tonnes, according to Chinese customs data.

Total U.S. pork exports to China were worth $1.16 billion.

“This [tariffs on U.S. pork] will have a big impact on our import trade but our company also does domestic pork so overall the impact is not so bad,” said an import manager at Beiji,上海仙霞路夜生活Idaleen,ng Changxinchang Food Products Co Ltd.

Spotify CEO eligible to sell up to $2 billion stake in public listing

( ) – Daniel Ek, the CEO and co-founder of streaming music leader Spotify Technology SA (SPOT.N), is eligible to sell up to 15.8 million shares of the company worth up to $2 billion in its direct listing, the company disclosed in a filing on Tuesday.

In an amended filing with the U.S. Securities and Exchange Commission, ,上海021夜网Cain,Spotify said it expected current shareholders to sell up to 55.7 million ordinary shares when the stock begins trading on the New York Stock Exchange on April 3. (bit.ly/2u77nhu)

Instead of a traditional IPO, Spotify plans a direct listing, which will let investors and employees sell shares without the company raising new capital or hiring a Wall Street bank or broker to underwrite the offering.

Spotify is valued at roughly $19 billion on the private markets but has not set an opening share price for its direct listing. The company has hired Morgan Stanley & Co (MS.N) to help evaluate buy and sell orders on the NYSE to help set an opening price.

But the company, which was founded in Sweden, disc,上海夜网后花园Hadrian,losed for the first time how many shares Ek, its 35-year-old chief executive, would be able to sell. The stake is worth between $775 million to $2 billion at the most recent private market prices, which ranged from $48.93 to $131.88 for the month of March, according to Spotify’s updated filing.

The move allows Ek to sell the shares but does not obligate him to do so, and Ek has given no public indication he plans to sell them. Ek will retain 37 percent voting power上海夜网 in Spotify regardless of how many of the newly registered shares he sells. Ek and fello,上海夜生活怎么玩Tabitha,w Spotify co-founder Martin Lorentzon together control more than 80 percent of the voting power in the company.

Spotify also disclosed for the first time that it would pay Alphabet Inc’s (GOOGL.O) cloud computing unit, Google Cloud Platform, at least 365 million euros, or about $447 million, over the course of three years to host Spotify’s streaming services.

(1 Euro = $1.22 U.S. Dollar)

Investor groups win vote on RBS shareholder committee

LONDON ( ) – The Royal Bank of Scotland (RBS.L) will allow a shareholder vote on whether to give retail investors more power over the British state-backed lender, ceding to a deman,上海会所夜网Ida,d from shareholder groups that had foug,夜上海论坛Caden,ht for this since 2016.

Shareholder groups ShareSoc and the UK Shareholders’ Association (UKSA) said on Monday the bank had agreed to let investors consider the creation of an advisory committee including shareholder representatives that would have a say on high-profile and 上海夜生活论坛controversial issues like executive pay.

The vote will take place at the bank’s annual general meeting (AGM) in May via a special resolution, meaning it will need 75 percent of votes cast to succeed rather than the standard 50 percent.

ShareSoc director and co-ordinator of its RBS campaign, Cliff Weight, said ShareSoc and UKSA had been calling for better shareholder engagement for over 20 years.

“At last our efforts are being recognized,” he said. “A positive vote at the AGM will be a great step forward for shareholder democracy.”

As majority shareholder with a 71 percent stake, the British government’s position will be decisive in the vote. Prime Minister Theresa May said ,上海夜玩网论坛Sabina,she would crack down on irresponsible capitalism when appointed in 2016.

ShareSoc and UKSA had previously said they would launch a campaign to persuade UK Financial Investments (UKFI), which manages the government’s shareholdings, and institutional shareholders to vote for the proposal.

UKFI declined to comment.

The two groups have been fighting to force a vote on the proposal since 2016, arguing the creation of a committee would improve corporate governance and avoid the mistakes that led to the bank’s 45.5 billion pound ($63.8 billion) state bailout in 2008. RBS had previously rejected a vote on the proposals on legal grounds.

“RBS has been very clear in its support for enhanced corporate governance and, in particular, stakeholder engagement,” an RBS spokeswoman said.

“We have liaised closely with ShareSoc and UKSA to ensure their resolution was in a fit state to be put to shareholders at this year’s AGM.”

($1 = 0.7128 pounds)

Where is the fear? Markets wave off global risks

SYDNEY ( ) – Simmering fears of a global trade war. An embarrassing political scandal in Japan. Rapid job-turnover inside the White House and the threat of faster interest rate hikes in the United States.

In any other era, this concoction would be a perfect recipe for heightened market volatility. But in recent months, markets have brushed aside risks and recurring bad news on geopolitics to stay focused on positive macro-economic cues.

And Guy Debelle, the Australian central banker who oversaw a review of global foreign exchange standards, s,上海夜网官方网站Quaid,ays it doesn’t make sense.

On Friday, the Reserve Bank of Australia deputy governor said in Sydney he finds it “puzzling that measures of volatility do not seem to embody much uncertainty”.

“I have expected that volatility would move higher structurally in the past and this has turned out to be wrong,” Debelle said. “But I think there is a higher probability of being proven correct this time.”

For Paul Dales, Sydney-based chief economist at Capital Economics, markets are “taking all of this in their stride as the global economy is fairly strong and is expected to stay strong both this year and next… it is probably right that the recent events shouldn’t derail that.”

Investors got a taste of what the spike in volatility might look like when in early February fears of faster U.S. rate hikes hammered world shares.

That sell-off was short-lived, though, and equity prices are now not too far from their February highs.

A gauge of market volatility .VIX is near all-time lows, while most estimates of the term premium for 10-year Treasuries US10YT=RR are around zero, or even negative, despite projections of multiple rate rises by the U.S. Federal Reserve this year and next.

This comes at a time the world is seeing the first synchronized global growth since 2007, with strong corporate earnings and blistering job-creation.

Higher rates could all but dampen the optimism, and that is just one of the many risks.

(GRAPHIC: Equities rally as volatility hits all-time low – reut.rs/2HFgLe9)

TRADE WAR

The danger of a global trade war looms after U.S. President Donald Trump slapped duties on imported steel and aluminum and has threatened further tariffs on Chinese goods.

In Japan, a cronyism scandal has engulfed Prime Minister Shinzo Abe and Finance Minister Taro Aso, causing uncertainty around political stability.

Yet the market response so far: stay calm and look away.

Despite shock events like Britain’s vote to leave Europe, the threat of a euro-zone break up and the potential for a nuclear war with North Korea, market volatility spiked only temporarily.

In fact, equity returns last year were among the highest since the 2008 global financial crisis. Emerging markets did well too, and the Australian dollar AUD=D4, considered a barometer for glo,上海晚上耍女人的地方Octavia,bal risk, jumped 8.7 percent in 2017, its best performance in seven years.

For Shane Oliver, Sydney-based head of investment strategy at AMP Capital, risks can create chances to buy.

“It’s hard to quantify geopolitical risks,” 上海夜网he said. “It often makes more sense for investors to focus on the opportunities they throw up, rather than taking long-term shelter fr,上海夜哪里艳遇Idaline,om them in low returning cash.”

Reforms aimed at making Pentagon acquisition more agile: House

WASHINGTON ( ) – U.S. House Armed Services Committee Chairman Mac Thornberry introduced a second batch of legislative proposals on Tuesday aimed at speeding up how the Pentagon buys weapons and making it easier for firms to retain their intellectual property.

Thornberry’s legislation follows an initial batch of reforms enacted last year with the 2016 annual defense policy bill, and continues efforts to make weapons programs more transparent.

The proposals are aimed at simplifying the convoluted U.S. Defense D,上海夜生活网交流Qirin,epartment acquisition process, with a big push to fund more experimentation and prototyping of new weapons, while driving to get new technologies into the hands of troops faster.

Many big weapons programs are over budget and behind schedule, although Pentagon officials say changes undertaken since 2009 are starting to have a positive impact.

The new legislation aims to shorten the time it takes from the start of the design phase of a new program until a military service can start using a new weapon in combat to five-to-six years from around nine year currently, the staff said.

The bill requires all weapons systems to have “open systems architectures” that will allow the services to hold competitions for more components, and carry out quicker upgrades as new technologies ,夜上海419龙凤论坛Dalton,are developed.

It authorizes the Air Force, Army and other military services to use certain funding to pay for prototype upgrades of components an,上海夜网官方网站Qirin,d to develop technology faster.

The bill also seeks to end a controversy about how the Pentagon treats private companies’ intellectual property that has made non-traditional suppliers reluctant to do business with the U.S. military and its complex defense acquisition rules.

Instead of automatically giving the government broad rights to control intellectual property rights that are jointly funded by industry and government, the bill would mandate that such arrangements would have to be negotiated between the parties.

The legislation would also continue a push to make the military services more responsible and accountable for weapons programs, requiring them to begin overseeing mil上海夜网estone decisions for joint programs after Oct. 1, 2019.

The bill also requires the secretary of defense, or his staff, to fix the costs and expected fielding date for new weapons programs, and then hold the services accountable for meeting those targets.

To ensure more transparency, the bill also calls for creation of an acquisition scorecard that would compare program cost estimates with those submitted by independent estimators.

Protectionism could harm G20 economic growth, must be avoided: EU

BUENOS AIRES ( ) – Global economic growth is facing the risk of inward-looking policies and protectionism which much be avoided, European Economics Commissioner Pierre Moscovici said on Monday on the sidelines of a meeting of world financial leaders in Argentina that discussed trade.

Moscovici said finance ministers and central bank governors from the world’s 20 biggest economies, the G20, discussed trade on Monday afternoon in a “polite” way in the context of the global economic outlook amid concern that U.S. plans to impose tariffs on steel and aluminium imports could trigger a global trade war.

“The first risk is the risk of inward looking policies and protectionism,” Moscovici told ,上海新夜网龙凤Cadence,reporters after the first day of talks, adding protectionism could damage growth and the principles of free trade of the World Trade Organisation.

He noted that the world managed to avoid the experience of a great depression from the early 20th century during the financial crisis in 20,上海夜生活男人好去处Fabi,07-2009 because it did not revert to trade protectionis上海夜生活论坛m at the time.

“I hope that tomorrow the G20 communique will show that protectionism is not the solution and we must absolutely avoid that,” he said. “A trade war would be stupid. There would be,夜上海419龙凤论坛Naia, damage on both sides of the Atlantic,” he said.

He reiterated that while the European Union did not want a trade war with the United States, it was preparing counter-measures in case it was not exempted from the U.S. steel and aluminium tariffs.

Democratic Party workers pore over videos in bid to hobble Trump

( ) – From the basement to the third floor of Democratic Party headquarters in Washington, dozens of election campaign workers are glued to screens playing back videos of Donald Trump and other Republicans, digitally documenting their policy positions on everything from torture to climate change.

The newly bulked up operation, including research,,夜上海419龙凤论坛Naia, of more than 70 people is central to the Democrats’ strategy to sink whoever the Republicans nominate to run for the White House in the Nov. 8 U.S. presidential election.

Party officials who provided with details of the operation increasingly think their target will be Trump, the New York businessman and former reality TV star who is the surprise Republican front-runner.

Th上海夜生活e video clips will be used as grist for attack ads that will be deployed rapidly on social media sites any time Trump, or either of his rivals, U.S. Senator Ted Cruz of Texas and Ohio Governor John Kasich, strays during the general election campaign from policy proposals they touted in the nominating contests across the country.

That could, in theory, hinder them from appealing to the millions of more moderate voters needed to beat former Secretary of State Hillary Clinton or U.S. Senator Bernie Sanders of Vermont, the two competitors for the Democratic nomination.

Democratic National Committee (DNC) spokesman Luis Miranda, who provided with a partial tour of the research operation, said voters in the run-up to November’s election were “not going to be as responsive to the divisive rhetoric” that Trump used in the Republican campaign and that was a “key part of our general election strategy.”

Trump’s campaign did not respond to requests for comment on the Democratic Party operation.

Trump leads Cruz with 678 delegates to the Texan’s 423 delegates and Kasich at 143 as of this week after a string of wins in states where his suppor,上海夜生活群Lark,ters favored his flamboyant rhetoric and plans to wall off the U.S. border with Mexico, deport millions of undocumented immigrants and temporarily ban Muslims from entering the country. Trump has also called for a revision of laws that ban torture, and wants to scrap trade deals he blames for job losses.

There are two more Republican nominating contests on Tuesday. A candidate needs to accumulate at least 1,237 delegates to win the nomination at the Republican convention in July.

News and video monitoring have been election staples for years, but the latest operations bear little resemblance to the lower-tech past because of leaps in technology and the speed with which a candidate’s remarks are distributed.

“Everything is on steroids,” said Jamal Simmons, a Democratic consultant, who recalled campaigns continuously taping news channels on VHS tapes – a tedious process that limited how much could be monitored.

NEW TECHNOLOGY

Other new technology, such as the live streaming application Periscope, makes news from around the world available almost instantly, said Holly Shulman, a Democratic strategist and former DNC official.

“Halfway around the world we were able to respond to something before the reporters looked at,上海夜网邀请码Octava, it even,” she said.

The Republican National Committee (RNC) said it has also ramped up its video monitoring efforts, with a focus on Clinton, adding staff and using newer technology.

Eight people on the RNC staff are devoted to monitoring news coverage, and the party said it was building a searchable digital library of Clinton speeches, interviews and other events going back to 1991, the year before her husband Bill Clinton won the presidential election.

Attacks on Trump by Republican rivals and Super PACs, independent political action committees that may raise unlimited sums of money, have failed to stop his campaign’s momentum.

But the DNC said it believes its strategy will be effective. For one, the Democrats believe the Republican establishment’s efforts to block Trump’s nomination have been slow and disorganized – and hampered by a fear of tearing the party apart. The Democratic Party is also betting the general electorate will be more easily persuaded to counter Trump than registered Republicans have been.

Clinton has a nearly 10-point lead over Trump in a hypothetical general election match up, according to an average of polls gathered by Real Clear Politics.

REALITY TV TIPS

The effort to hobble the former reality TV star takes a page out of reality television itself, where producers comb through thousands of hours of candid video, index it into an easily searchable library, and then paste together coherent narratives.

The project helps address recommendations from the Democratic Victory Task Force, commissioned by DNC Chair Debbie Wasserman Schultz, which in February 2015 suggested the party prepare for the 2016 election and promote the party’s messaging.

The DNC did similar work during the 2012 presidential election, but on a much smaller scale. Its digital and social media staff went from 5 to 25 people over the past 18 or so months, spokesman Miranda said.

The current team divides its time on video from a wide range of sources – from national news to local channels, clips put up on YouTube by individual users and campaigns, and events webcast by the campaigns themselves.

It also has scouts that record in the field.

The work has yielded a number of attack videos already, many prepared and sent out at a moment’s notice.

On Feb. 28, for example, the party released a video slamming Republican presidential hopefuls for their opposition to action on climate change, featuring them denying man-made global warming alongside images of U.S. flooding, wildfires, droughts and heat waves.

Earlier in March, after Trump cruised to victory in several state nominating contests, the DNC put out another 40-second video, mixing news clips talking about how Trump is dominating his party.

“These videos are getting tens of thousands or hundreds of thousands of views across our various platforms,” Miranda said. “He’s not going to get off as easy with us as with the rest of the Republican field. We know what he’s said, we know where he’s flip-flopped, where he’s made mistakes.”

Illinois judge to decide jurisdiction over Cruz eligibility complaint

CHICAGO ( ) – An Illinois judge on Friday said she would decide next month whether she had jurisdiction over a voter’s complaint that Republican presidential candidate Ted Cruz should not be on the state’s primary ballot because he was born in Canada.

Lawrence Joyce, a lawyer and pharmacist, filed a complaint in January with the Illinois State Board of Elections s,上海足浴夜网联系方式Kaiden,aying that under the U.S. Constitution, the Texas senator cannot run for president since he is not a “natural born” citizen. Cruz was born in Calgary, Alberta of a Cuban father and an American mother.

The Board rejected Joyce’s complaint – saying Cruz became a natural-born citizen at the moment of his birth because of his mother’s citizenship – so he petitioned the Cook County Circuit Court to review that decision.

Circuit Court Judge Maureen Ward Kirby said she was not sure she had jurisdiction, and set a March 1 hearing for arguments on whether to dismiss the complaint.

The complaint comes in the wake of repeated attacks on Cruz about his eligibility by New York businessman and presidential rival Donald Trump.

Children born abroad to American citizens can immediately be registered as U.S. citizens through a consular report of birth abroad, but Joyce said that process is a form of naturalization.

A /Ipsos poll in January found that one quarter of Republicans did not think Cruz was qualified to be president because of his birthplace.

Cruz and Trump are locked in a battle to win the Republican no,上海夜生活论坛Cadence,mination for the Nov. 8 election. Cruz won the first nominating contest in Iowa while Trump prevailed in New Hampshire.

“A potential nightmare scenario may be developing if Ted Cruz becomes the nominee and is then forced to resign the nomination,” Joyce told reporters. He backs Republican candidate Ben Carson but said no candidate was involved in his lawsuit.

Voters in New York and in Alabama have also filed legal challenges to Cruz’s eligibility.

“It is widely assumed and believed that no court is going to invalidate a presidential candidate on this issue,” said Gerald Rosenberg, a professor at the University of Chicago Law School.

Lawyers for both Cruz and,夜上海论坛Fabian, the Illinois State Board of Elections said they would present motions to dismiss the case based on jurisdiction and because they said Lawrence did not properly serve notice of his complaint.

The Illinois primary is March 15 but early voti上海夜生活ng has already begun.

Exclusive: On Amazon, a quarter of merchants’ sales are cross-border

LAS VEGAS ( ) – Amazon.com Inc is making a push for merchants on its website to sell goods into other countries, setting the stage for greater competition with rival marketplaces run by eBay Inc and potentially Alibaba Group Holding Ltd.

More than a quarter of all revenue for sellers on Amazon globally was from cross-border transactions in 2017, up more than 50 percent from the year prior, Amazon Vice President Eric Broussard said in an interview, ahead of his Tuesday speech at the ShopTalk conference in Las Vegas.

That amounts to between $50 billion and $75 billion for merchants selling to customers in another country, based on analysts’,上海夜生活怎么玩Macauly, estimates for Amazon’s total gross merchandise sales. Amazon does not disclose the figure.

The cross-border increase – outpacing Amazon’s 31 percent rise in overall net sales – represents a massive opportunity for the world’s largest online retailer. That is why Amazon has encouraged merchants to list ever-more products on its websites around the world, which could make its marketplaces more desirable to shoppers than those of the competition.

“The speed with which sellers have been selling globally has accelerated over time,” said Broussard, who oversees Amazon’s international marketplaces.

Global trade has been crucial to Amazon and its e-commerce competitors. In a 2015 news post online, eBay touted cross-border sales as one of its key strengths. It said cross-border represented about 20 percent of its gross merchandise volume in 2014, or $17 billion. The company declined to offer a figure for 2017.

Last month, eBay’s chief executive told the company planned to bring “the world’s inventory into Japan” as part of its global expansion. [nL4N1QH72Z]

Alibaba, meanwhile, recruits companies to sell into China, and its unit Tmall Global features products from brands in 63 countries and regions, it has said.

Cr,上海夜生活群Caden,itics of Amazon have said ther上海夜网e are too many counterfeit products from China on its U.S. marketplace. Amazon prohibits the sale of counterfeit goods and has said it is investing heavily in programs to keep them off its platform.

CUT OF SALES

For Amazon, a key way it attracts sellers is by renting space in more than 150 warehouses worldwide so merchants can store inventory near customers – without the hassle of exporting each order. Amazon operates 13 marketplaces globally.

“A customer shops in German, pays in euros an,上海夜生活去哪玩Octavien,d gets very rapid fulfillment” for a product from a U.S. seller, for example, Broussard said.

Tech Armor, a smartphone accessories maker near Los Angeles, said that its business was growing faster internationally than in the United States and that it has shipped more than 12 million units through Fulfillment by Amazon (FBA) since 2012. That has come partly from Amazon’s encouragement.

“Someone from the FBA business called,” Tech Armor co-founder Joe Jaconi told . “They wanted to talk to us about Canada.”

Amazon takes a cut of merchants’ transactions, which for jewelry can reach 30 percent of a sale fulfilled by Amazon, said Elena Castaneda, founder of Bling Jewelry in greater New York. Amazon’s net sales from seller services was $32 billion in 2017.

Castaneda said this was worthwhile.

“Say I do $1 million in Amazon U.S. If you take all of Europe and you do all five countries (with Amazon Marketplaces), it would almost be equivalent to the amount you do in the U.S.,” she said.

Exports by sellers on Amazon – where merchants handle the fulfillment to foreign countries – increased by nearly 30 percent in 2017, Amazon said.

White House narrows search to three for Supreme Court

WASHINGTON/AUSTIN, Texas ( ) – The White House has narrowed its search for a U.S. Supreme Court nominee to three federal appeals court judges, Sri Srinivasan, Merrick Garland and Paul Watford, a source familiar with the selection process said on Friday.

Srinivasan, an Indian-American who served under presidents of both parties before President Barack Obama named him as an appellate judge, and Garland, considered but passed over for the Supreme Cour上海夜网t twice before by Obama, are considered the leading contenders, according to the source and two other sources close to the process.

Obama is searching for a replacement for long-serving conservative Justice Antonin Scalia, who died on Feb. 13. Senate Republicans have vowed not to hold confirmation hearings or an up-or-down vote on any nominee picked by the Democratic president for the lifetime position on the court.

Senate Republicans, hoping a candidate from their party wins the Nov. 8 presidential election, want the next president, who takes office in January, to make the selection.

A formal announcement could come as soon as Monday. That would give Obama the weekend to think about his final choice and make an announcement before Tuesday’s presidential primary elections in five states including Florida and Ohio.

Srinivasan, 49, and Garland, 63, serve together on the U.S. Court of Appeals for the District of Columbia Circuit. That appeals court has served as a springboard to the Supreme Court for several justices including Scalia in recent decades.

Srinivasan, who was born in India and grew up in Kansas, would be the first Asian-American and first Hindu on the high court. Obama appointed him to the appeals court in 2013. The Senate confirmed him in a 97-0 vote.

Srinivasan served in the Justice Department under Democratic and Republican presidents and worked as a clerk to the first woman to serve on the Supreme Court, Sandra Day O’Connor, a Republican appointee.

Garland, who has earned praise from lawmakers of both parties, is the chief judge of the Washington appeal,上海夜哪里艳遇Gabriella,s court, where he has served since being appointed by Democratic President Bill Clinton in 1997, winning confirmation in a 76-23 vote. Prior to that, he served in the Justice Department under Clinton.

Watford, 48, is a judge on the San Francisco-based 9th U.S. Circuit Court of Appeals, winning Senate confirmation in a 61-34 vote in 2012. He previously worked as a prosecutor and in private practice.

If confirmed, he would be the nation’s third black justice, following current justice Clarence Thomas, appointed in 1991, and Thurgood Marshall, who retired in 1991 and died in 1993. Obama is the first black U.S. president.

It was unclear whether the other two other candidates who had been expected ,上海夜生活怎么玩Sabine,to be interviewed by Obama, federal appeals court judge Jane Kelly and federal trial judge Ketanji Brown Jackson, were now out of the running altogether.

Kelly is a judge on the St. Louis-based 8th U.S. Circuit Court of Appeals. Jackson is a federal trial judge in Washington. Both were appointed to those positions by Obam,上海夜网Sabrina,a.

Without Scalia, the Supreme Court is evenly split with four liberals and four conservatives. An Obama appointment could tilt the court to the left for the first time in decades.

Obama is traveling in Texas, where he spoke at Austin’s South by Southwest festival on Friday and is appearing at Democratic fundraisers. He returns to Washington late on Saturday.

Written by shyw on November 20, 2018 Categories: sgqotqle Tags: , , ,

China’s BYD warns profit to plunge on electric car subsidy cuts,…

SHANGHAI ( ) – China’s BYD Co Ltd (1211.HK)(002594.SZ), backed by Warren Buffett’s Berkshire Hathaway Inc (BRKa.N), warned subsidy cuts for new-energy vehicles could slash its quarterly profit by as much as 90 percent, driving its shares down a,上海足浴夜网联系方式Jacob,lmost 10 percent.

The squeeze on BYD’s profits underscores the challenge carmakers are facing in the world’s largest auto market, which is moving toward pure electric and plug-in hybrid vehicles with strict quotas set to come into effect next year.

BYD has invested,上海夜网Jacob, heavily in battery electric and plug-in hybrid vehicles amid Beijing’s push for greener transport.

“(As we are) affected by reduction in new energy vehicles (NEVs) subsidies, the profitability of the business, especially for electric buses, has declined substantially so as to bring great pressure to the g上海夜网roup’s overall profit,” BYD said.

The company expects its first-quarter net profit to slump 75.2-91.8 percent from a year ago due to the subsidy cuts.

That would put profits for the three months to March between 50 million yuan ($7.96 million) and 150 million yuan, versus 605.8 million yuan a year ago.

In February, China’s finance ministry cut subsidies for lower-range NEV cars and for some buses, but raised them for vehicles with higher performance.

BYD’s shares in Hong Kong and Shenzhen both fell as much as 10 percent to multi-month lows in intraday trade on Wednesday.

“Even though,上海凤楼夜网Sabina, people are still buying NEVs as subsidies fall, BYD’s plight speaks to a tough future for electric cars,” said Yale Zhang, head of consultancy Automotive Foresight.

BYD’s net profit in 2017 fell 19.5 percent to 4.07 billion yuan, roughly in line with preliminary figures release last month. In 2016, the firm’s net profit had jumped almost 80 percent.

China’s central government wants the country to be a world leader in NEVs and related technologies, but has been looking to phase out financial subsidies that have been behind the rapid growth of the sector.

BYD said a quota system giving carmakers a “credit score” based on their NEV output and performance, set to come into effect next year, would support larger players while “eliminating weaker players in the industry”.

Domestic and international industry executives have called for continued policy support from Beijing to help maintain growth in the world’s largest NEV market, where broader auto sales growth is slowing down.

BYD, which is looking to diversify its businesses into electric batteries and other transport services, should see earnings growth pick up in 2018, with analysts polled by predicting a 50 percent jump in net profit this year.

Written by shyw on November 17, 2018 Categories: sgqotqle Tags: , ,

Pope’s comments on Trump’s Christianity spark jokes on Twitter

( ) – Pope Francis’s remarks on Thursday that U.S. Republican presidential candidate Donald Trump is “not Christian” due to his views on immigration sparked jokes on social media, and the pope quickly trended on Twitter in the United States.

The businessman and former reality TV star called the pope’s comments “disgraceful” and said he was proud to be a Christian.

Twitter users poked fun at the brouhaha.

“Watching Trump fight with the Pope might be the most fun you can have with your clothes on,” tweeted actor Albert Brooks (@AlbertBrooks).

Television comedy上海夜生活 writer Wendy Molyneux (@WendyMolyneux) joked about the controversy by attributing a fake quotation to Trump that mocked th,上海夜网后花园Qirin,e presidential candidate’s penchant for bawdy exaggeration.

“‘You know, a lot of my friends are Popes, and they love what I’m doing. This one Pope is such a loser. And fat.’ – @realDonaldTrump,” Molyneux wrote Thursday.

Paul Begala (@PaulBegala), a political consultant who is an adviser to a Super PAC helping Democratic presidential candidate Hillary Clinton, said: “How long before realDonaldTrump says the Pope is totally broke. Doesn’t ow,上海新夜网龙凤Barrett,n a single golf course. Never even dated a supermodel. #Loser.”

“How dare the pope be concerned with the poor & disenfranchised! I mean Jesus n,夜上海论坛Jacob,ever was!” tweeted actor Rainn Wilson (@rainnwilson).

“The Late Show,” hosted by comedian Stephen Colbert, tweeted a poll Thursday in which it asked “How can Donald Trump get back in the Pope’s good graces?” The options listed were “Cabinet position,” “Purchase indulgences,” “Evict Protestants” and “Sensual back rub.”

Trump, long the leader in national opinion polls, and five Republican rivals face off on Saturday in South Carolina’s primary.

While the pope and Trump are now at odds, the real estate developer had previously praised the pontiff.

In 2013, the year Francis began his papacy, Trump compared himself to the pope favorably.

On Christmas Day 2013: Trump tweeted, “The new Pope is a humble man, very much like me, which probably explains why I like him so much!”

The pope was not the only powerful figure to run afoul of the Republican candidate on Thursday.

Media titan Rupert Murdoch weighed in on Twitter to contest Trump’s claims that Fox News is biased against him after a national poll by NBC and the Wall Street Journal showed Senator Ted Cruz inching ahead of Trump.

“Trump blames me for WSJ poll, fights FoxNews,” tweeted Murdoch (@rupertmurdoch), executive chairman of both Fox News parent 21st Century Fox Inc (FOXA.O) and Journal owner News Corp (NWSA.O). “Time to calm down. If I running anti-Trump conspiracy then doing lousy job!”

For more on the 2016 presidential race, see the blog, “Tales from the Trail” (here).

Whistleblower says Walmart, eyeing Amazon, cheated on e-commerce

( ) – Walmart Inc (WMT.N) was sued on Thursday by a former executive who accused the world’s largest retailer of issuing misleading e-commerce results, amid growing pressure from Amazon.com Inc (AMZN.O), and firing him for complaining about it.

Tri Huynh, a former director of business development, accused Walmart of having betrayed the principles of integrity and honesty espoused by founder Sam Walton in its push to show “meteoric growth” in e-commerce.

The complaint alleges various wrongdoing, including the mislabeling of products, enabling Walmart to charge excessive sales commissions, and failure to properly process customer returns, enabling it to boost results.

“Wal-Mart cut corners and ch,上海夜网官方网站Fabi,eated in a race to expand and gain market-share,” having been “desperate to gain the ground it had long lost to Amazon,” Huynh said in his complaint filed in U.S. District Court in San Francisco.

Walmart spokesman Randy Hargrove said the litigation is based on allegations by a上海夜生活 disgruntled former employee, who was let go when the business was restructured.

“We take allegations like this seriously and looked into them when they were brought to our attention,” he said. “The investigation found nothing to suggest that the company acted improperly.”

Walmart will vigorously defend itself against the claims, Hargrove added.

The retailer’s shares closed down 16 cents, or 0.2 percent, at $87.51, after earlier falling as much as 2 percent.

The Bentonville, Arkansas-based retailer has spent billions of dollars in recent years to compete with Amazon, including through its 2016 purchase of Jet.com, and last month said quarterly online sales, including the December holidays, had risen 23 percent.

But Amazon’s sales in North America grew 40 percent in the same quarter, and analysts have said its price war has weighed on Walmart’s margins.

Huynh accused Walmart of charging higher sales commissions from sellers on its online marketplace, where third-party sellers list and sell products, with commissions rising as high as 15 percent compared with the normal 6 percent to 8 percent.

Walmart’s internal controls allegedly failed to detect the problem, causing the retailer to overstate revenue.

Huynh also said Walmart failed to process more than $7 million of customer returns, inflating the total value of merchandise sold from September 2015 to March 2016.

The plaintiff, who was born in Vietnam and lives in Washington state, said Walmar,上海高端夜生活在那里Hadleigh,t abruptly fired him in January 2017 in retaliation ,上海夜生活乌托邦Ida,for his repeated complaints about its e-commerce reporting and internal controls.

Huynh said he was fired not long after raising concerns with U.S. e-commerce chief Marc Lore, and was dismissed under the “false pretenses” of a broader workforce reduction and alleged performance issues.

He said he had told human resources the prior May of his efforts to deal with attention deficit hyperactivity disorder.

“Wal-Mart sacrificed and betrayed its Founder’s key principles of integrity and honesty, pushing those core values aside in its rush to win the E-commerce war at all costs,” Huynh said. “In doing this, it realized it must silence any whistleblower who spoke up.”

The lawsuit, which accuses Walmart of violating the federal Sarbanes-Oxley whistleblower law and various California state laws, seeks punitive and other damages.

The case is Huynh v Wal-Mart Stores Inc et al, U.S. District Court, Northern District of California, No. 18-01631.

Citi, Goldman and rivals ramp up Brazil banker poaching war

SAO PAULO ( ) – Global investment banks from Citigroup to Goldman Sachs are hiring again in Brazil after years of retrenchment as historically low interest rates fuel a recovery as well as a small boom in M&A and stock and local bond offerings.

Most of the moves, several of them involving one bank hiring away top talent from another, are likely to wrap up by the end of the first quarter, when bonuses related to the former year are paid.

Some of the hirings were announced late last year and effective from February to April.

Although there is no official data on investment banking jobs in Brazil, the elite bankers whose employers’ steel and glass towers line Sao Paulo’s Faria Lima avenue represent less than 2 percent of the 467,900 employees of the banking industry in the country.

Citigroup Inc.’s (C.N) Brazil unit late last year poached Eduardo Miras, former co-head of investment banking at Morgan Stanley (MS.N), to head Citi’s equivalent unit, which has remained active even after the U.S. bank sold its retail business to Brazil’s Itaú Unibanco Holding SA (ITUB4.SA).

More than two executives also left Morgan Stanley to join Citi with Miras, people with knowledge of the m,上海凤楼夜网Lake,atter said. The banks declined to comment.

Morgan Stanley, in turn, hired former Citi managing director Felipe Mattar a month later and relocated two other executives within the bank to Brazil.

Flavio Valadao, former head of investment banking at Banco Santander Brasil SA (SANB11.SA), is expected to begin as vice-chairman of the Brazilian unit of JPMorgan Chase & Co (JPM.N) next month, after the departure of Patricia Moraes, who had been at the U.S. bank for more than 20 years.

“We are investing in new hirings due to the increased activity in Brazilian capital markets and M&A,” JPMorgan’s head of investment banking in Brazil Pedro Juliano sai,上海夜玩网论坛Jack,d in an interview at the bank’s headquarters in Sao Paulo last week.

Among other Wall Street banks, Goldman Sachs Group Inc (GS.N) hired banker Ricardo Bellissi, who had replaced Valadao as the head of investment banking at Santander Brasil. To replace him, Santander hired Paulo Mendes, who was running his own M&A boutique.

BUSY YEAR

Last year was Brazil’s busiest for initial public offerings since 2013, with 10 IPOs raising $5.5 billion. Including secondary offerings, Brazilian companies raised around $13 billion, nearly five times the amount in 2016.

Brazilian mergers and acquisitions activity surged 33 percent last year to $61.8 billion in deals, driven by asset sales by conglomerates under pressure for corruption probes, such as J&F Investimentos, which also owns meatpacker JBS SA (JBSS3.SA).

Deals in the first quarter were valued at nearly $15 billion with an increasing number of acquisitions motivated by big synergies or bets on the country’s recovery, such as the deal between pulp makers Suzano Papel e Celulose SA (SUZB3.SA) and Fibria Celulose SA FIBR3.SA announced earlier this month.

Brazilian banks such as Itaú Unibanco Holding SA (ITUB4.SA), Banco Bradesco SA (BBDC4.SA) and Banco BTG Pactual SA (BPAC3.SA), which already had larger deals teams and did not cut staff as much during the recession上海夜网, have not hired senior peop,上海夜生活网419Falkner,le recently. Some of them, such as BTG Pactual, are adding junior bankers.

“We do not radically change the team’s size according to market conditions, we endure the cycles,” said Roderick Greenlees, head of investment banking at Itaú Unibanco’s investment bank, Itaú BBA SA.

Fed lifts rates, signals tougher stance as economy strengthens

WASHINGTON ( ) – The U.S. Federal Reserve raised interest rates on Wednesday and forecast at least two more hikes for 2018, highlighting its growing confidence that tax cuts and government spending will boost the economy and inflation and spur more aggressive future tightening.

In its first policy meeting under new Fed chief Jerome Powell, the U.S. central bank indicated that inflation should finally move higher after years below its 2 percent target and that the economy had recently gained momentum.

The Fed also raised the estimated longer-term “neutral” rate, the level at which monetary policy neither boosts nor slows the economy, a touch, in a sign the current gradual rate hike cycle could go on longer than previously thought.

“The economic outlook has strengthened in recent months,” the Fed said in a statement at the end of a two-day meeting in which it lifted its benchmark overni,上海夜生活网交流Caden,ght lending rate by a quarter of a percentage point to a range of 1.50 percent to 1.75 percent.

Powell, who took over from former Fed chief Janet Yellen in early February, said the central bank was staying on a path of gradual rate increases but needed to be on guard against inflation.

“We are trying to take the middle ground here,” Powell said in a press conference after the end of the policy meeting, adding that there were no signs the economy was on the cusp of accelerating inflation.

Related CoveragePowell sets record for shortest quarterly news conference by Fed chairAs Trump stimulus fades, Fed sees tight monetary policy on the horizonSee more stories

The rate hike was widely expected. All 104 economists polled by from March 5-13 said the Fed would increase borrowing costs this week.

U.S. stocks rose after the policy statement before paring gains to close lower. U.S. Treasury yields fell and then recovered. The dollar .DXY recorded its steepest one-day loss in nearly two months against a basket of currencies.

“The guidance in terms of the future rate hikes is a touch more hawkish than originally expected. 2019 looks li,上海021夜网Sabine,ke we’re going to get a faster pace of rate hikes,” said Matt Miskin, market strategist at John Hancock Investments.

“This a new Fed chairman starting with a bit of a hawkish tone as he takes leadership.”

CONFIDENCE IN THE ECONOMY

The rate hike was the latest step away from years of stimulating the world’s largest economy in the wake of the 2007-2009 financial crisis and recession. The Fed tightened policy three times last year.

The combination of $1.8 trillion in expected fiscal stimulus from the Trump administration and recent hints of price and wage pressures had prompted some Fed officials to speculate more Americans could be drawn into an already tight labor market.

Some even worried inflation could rise well above the Fed’s target if the economy got too hot.

Policymakers were largely split on Wednesday as to whether a total of three or four rate hikes would be needed this year. They predicted rates would rise three times next year and two times in 2020, a further indicati,夜上海论坛Mabel,on of their view that the economy is on solid footing.

“The Fed seems to be gaining confidence,” said Brian Coulton, an economist at Fitch Rating in London.

Fed policymakers projected U.S. economic growth of 2.7 percent in 2018, an increase from the 2.5 percent forecast in December, and also marked up growth for next year. The Fed’s preferred measure of inflation was expected to end 2018 at 1.9 percent, unchanged from the previous forecast, but it is seen rising a bit above the target next year.

The U.S. unemployment rate by the end of 2018 is expected to edge down to 3.8 perce上海夜生活nt, indicating the Fed sees more room for the labor market to run. Fed officials predicted the longer-run rate would settle at 4.5 percent, slightly lower than the forecast from December.

U.S. joblessness stood at 4.1 percent last month.

While recent home sales and retail spending data have been on the weak side, the overall economic picture has brightened after growth accelerated to 2.3 percent last year.

Before the meeting, analysts were split over whether the Fed, which is wary of an early misstep under its new leadership, would raise policy tightening expectations until more price pressures are clearly evident. There are also looming outside risks to the economy such as a possible global trade war.

“This is a new risk (that) had been probably a low-profile risk, but which has become … a more prominent risk to the outlook,” Powell said, adding, however, that the trade tensions had not affected the Fed’s expectations for the economy.

Hillary Clinton raised $30.1 million in February

WASHINGTON ( ) – Democratic presidential front-runner Hillary Clinton raised $30.1 million in February, and began Super Tuesday with $31 million in cash remaining, her campaign said on Sunday.

Clinton has frequently domin,上海夜生活网419Jackson,ated the fundraising contest, but has in recent months been in a tight money battle with Senator Bernie Sanders of Vermont, her rival for the Democratic nomination for the November election.

Clinton has been trying to increase her fundraising online, an arena where Sanders has dominated, raising small-dollar donations from supporters. Clinton’s campaign said th,上海夜生活怎么玩Tallulah,at in mid-March the campaign exceeded 1 million donors.

“Thanks to the 1 million people who have now contributed to our campaign and the more than 8.6 million people who have supported Hillary Clinton with their votes (in primaries and caucuses), we have the resources we need to continue to run a strong campaign all across the country and a nearly insurmountable pledged delegate lead,” campaign manager Robby Mook said in a statement. “With the majority of our fundraising coming from grassroots online donations, this campaign continues to gain momentum and feed off the energy of millions of supporters across t,上海夜生活Gabriel,he country.”

Democrats will gather in Philadelphia in July to nominate their presidential candidate. The nominee will face the Republicans’ pick in November上海夜生活网.

Written by shyw on July 29, 2018 Categories: sgqotqle Tags: , ,