Chinese President Xi Jinping Meets with US Business Representatives in Beijing to Discuss Economic Cooperation and Address Concerns =============== #dda14a4e ver:0.32 Chinese President Xi Jinping met with representatives of US businesses in Beijing's Great Hall of the People on Wednesday, March 27, 2024. The meeting, proposed by Evan Greenberg, the chief executive of U.S. insurer Chubb, aimed to address concerns about China's business environment and strengthen business ties between China and the United States . The meeting included representatives from the US business community and academia, as well as prominent figures such as Apple CEO Tim Cook and other top executives. The CEOs extended their stay in China after receiving a last-minute invitation to meet with President Xi Jinping. The meeting provided an opportunity to discuss trade and investment issues and express concerns about the slow recovery of China's economy post-pandemic and the busines... #newstr #China #XiJinping #UsBusinessRepresentatives #ForeignInvestment #UsCompanies #Economy #ChinaDevelopmentForum #TimCook #EconomicGrowth #PropertysectorCrisis #YouthUnemployment #GlobalSlowdown #ChinausEconomicRelationship #Technology #Trade #HumanRights #Taiwan #SouthChinaSea #IntellectualProperty

φ HERE - Coherence-First News

BlackRock CEO Larry Fink Warns of 'Snowballing Debt' and Urges Action to Stimulate US Economy =============== #9efc32af ver:0.23 BlackRock CEO Larry Fink has expressed serious concerns about the urgency of the US public debt situation, emphasizing it as unprecedented in his experience. In his annual letter, Fink highlighted the insufficiency of relying solely on taxes and spending cuts to manage the escalating debt crisis. He warned of a potential future mirroring Japan’s economic stagnation in the late '90s and early 2000s, marked by austerity and minimal growth. Fink called for capital markets to help grow the economy through infrastructure investments, especially in the energy industry. Fink's warning comes as investors are becoming wary of traditional financial markets and may turn to cryptocurrencies as a decentralized solution. The rise in US debt also increases the risks of government-led debasements, further... #newstr #LarryFink #BlackrockInc #UsPublicDebt #DebtCrisis #EconomicStagnation #CapitalMarkets #InfrastructureInvestments #EnergyIndustry #CryptoMarkets

φ HERE - Coherence-First News

AUD/USD: Australian Dollar Steady Amid US Data and Economic Optimism =============== #5e795900 ver:0.1 The AUD/USD pair traded flat at 0.6533 as traders awaited the release of the US Federal Reserve's Core Personal Consumption Expenditure (PCE) Price Index . Recent US durable goods orders exceeded expectations, but consumer confidence dipped slightly . Federal Reserve officials have expressed divergent views on rate cuts, with Atlanta's Fed Raphael Bostic foreseeing just one rate cut for 2024, while Lisa D. Cook warns that easing policy too soon increases the risk of inflation becoming entrenched . Chicago Fed President Austan Goolsbee expects three cuts on the dovish spectrum but says he needs more evidence of inflation 'coming down' . Traders are now turning their attention to Australian CPI data for further direction . The release of Australia's inflation data is awaited during the Asia... #newstr #Aud/usd #UsDollar #EconomicOptimism #AustralianEquityMarket

φ HERE - Coherence-First News

Oil prices fall for a second day as US crude inventories increase =============== #12d86ea3 ver:0.44 Oil prices were broadly steady on Thursday, supported by a surprise drop in US crude stock and the US Federal Reserve's commitment to rate cuts. Brent crude futures for May decreased by 0.4% to $85.64 a barrel, while US West Texas Intermediate (WTI) futures for May fell by 0.4% to $80.97 a barrel. Crude inventories in the US declined for the second consecutive week, dropping by 2 million barrels to 445 million barrels in the week ending March 15. Gasoline inventories also fell for the seventh week, down by 3.3 million barrels to 230.8 million. The market was also influenced by concerns over Ukrainian attacks on Russian refineries impacting global petroleum supplies. Oil prices settled slightly lower on Thursday, with Brent crude futures for May settling down 17 cents, or 0.2%, to $85.78 ... #newstr #OilPrices #UsCrudeInventories #Opec+ #OutputPolicy #BrentCrudeFutures #Opec #Russia #Iraq #OutputCuts

φ HERE - Coherence-First News

Indian Rupee Weakens Slightly as Asian Peers Fall, Forward Premiums Rise =============== #19e6c8d0 ver:0.56 The Indian rupee weakened slightly on Wednesday, pressured by a fall in Asian peers. The USD/INR exchange rate was at 83.3225, compared to its previous close at 83.28. The dollar-rupee overnight swap rate rose to 0.26 paisa after trading close to or below 0.10/0.12 paisa levels since March 19. The improvement in the overnight swap rate also lifted near and far forward premiums, with the one-year implied premium up 5 basis points at 1.61%. The rupee is expected to see sideways price action between 83.20 and 83.40, with the Reserve Bank of India expected to defend the currency from hitting all-time lows . Despite the slight weakening, the Indian rupee has shown signs of recovery. It appreciated 29 paise to 83.32 against the US dollar in early trade on Tuesday. India's forex reserves also in... #newstr #IndianRupee #AsianCurrencies #ForwardPremiums

φ HERE - Coherence-First News

Wall Street Retreats from Record Highs Amid Mixed Reports on Economy =============== #124f9b71 ver:0.65 US stock index futures rose in evening deals on Tuesday, signaling some recovery on Wall Street after equities clocked three straight days of losses amid uncertainty ahead of more cues on inflation and the Federal Reserve. S&P 500 Futures rose 0.2% to 5,274.0 points, while Nasdaq 100 Futures rose 0.2% to 18,485.0 points by 19:40 ET (23:40 GMT). Dow Jones Futures rose 0.2% to 39,758.0 points. Wall Street indexes fell into a holding pattern after clocking record highs last week, with traders now seeking more cues on the path of inflation and interest rate cuts. The focus is now on PCE price index data, due on Friday, when markets will be closed for the Good Friday holiday. Top Fed officials, including rate-setting committee member Mary Daly, are also set to speak separately on Friday, offeri... #newstr #WallStreet #StockMarket #S&p500 #DowJones #Nasdaq #Tesla #Alphabet #Nvidia #KrispyKreme #Mccormick #TrumpMedia&TechnologyGroup #FederalReserve #TreasuryYields #Economy #BondMarket

φ HERE - Coherence-First News

BRICS Alliance Explores Expansion Amid Concerns of India and China's Influence =============== #bddbf015 ver:0.34 BRICS, consisting of Brazil, Russia, India, China, and South Africa, is gaining international attention as it currently accounts for one-third of the world's GDP and represents 40% of the global population. The term BRIC was coined in 2002 by British economist Jim O'Neill. However, BRICS still lacks a well-organized organizational structure and political convergence. The New Development Bank, founded in 2014, aimed to compete with the IMF and the World Bank but has not achieved its goals. The BRICS countries can be divided into two groups based on their economic structures: Russia, Brazil, and South Africa rely heavily on raw material exports, while India and China exhibit industrializing tendencies. India and China were less affected by the 2009 crisis and have sustained GDP growth rates ... #newstr #Brics #GlobalEconomy #Expansion #Dedollarization #InternationalTrade

φ HERE - Coherence-First News

Russian Oil Firms Face Payment Delays as China, UAE, and Turkey Increase Bank Scrutiny =============== #2cc3db6d ver:0.19 Greek-owned oil tankers headed to Russia have decreased by 25% this month, following a 60% decline since mid-2023. The decrease in shipping activity comes after the US Treasury sent letters to Greek ship owners inquiring about their compliance with the G7's $60 per barrel price cap on Russian oil. The US is cracking down on efforts to bypass the price cap, and some vessels have already faced sanctions. Western shipping companies, including those from Greece, are now being more cautious as the US is expected to further restrict Russia's oil revenue. This reduction in Greek oil tankers shipping to Russia could have significant implications for both Russia's oil trade and the Greek shipping industry, which is the world's largest. India has also refused to allow a sanctioned vessel to dock, si... #newstr #Russia #OilPayments #China #Uae #Turkey #BankScrutiny #Sanctions #SecondarySanctions

φ HERE - Coherence-First News

Top Stories on HERE.news in this hour...https://imagedelivery.net/665GHToRzycMVwZ9VsJNfA/cdfc3d64-1063-4785-d291-ae1ec7ccaa00/screenshot

Small Business Hiring Woes Ease as Economy Remains Strong =============== #adeca620 ver:0.13 In January 2024, small businesses in the United States continue to face challenges in the labor market and regulatory landscape. During the CO— Small Business Update event, Neil Bradley, Executive Vice President, Chief Policy Officer, and Head of Strategic Advocacy at the U.S. Chamber of Commerce, discussed the current state of the U.S. labor workforce. The U.S. unemployment rate is at 3.7%, leading to recruitment and staffing shortages for small businesses. Factors such as the COVID-19 pandemic, early retirements, and generational shifts have contributed to the smaller applicant pool . To address the labor shortage, Bradley suggested that small businesses prioritize legal immigration to add more workers to the workforce. He also emphasized the importance of leveraging the natural benefit... #newstr #SmallBusiness #Hiring #Economy #Employment #Cbiz #UsEconomy

φ HERE - Coherence-First News

Global Stock Markets Mostly Rise as US Data Comforts Rate Outlook =============== #5e43e797 ver:0.12 Global stock markets mostly rose as US data comforted expectations that the Federal Reserve will be able to cut interest rates. US durable goods orders rebounded slightly more than expected in February, but by much less than the fall in January. US consumers' assessment of their current situation improved in March, but they became more pessimistic about the future and their expectations to buy big-ticket items, autos, and homes in the coming six months fell further. Recent guidance from the Federal Reserve pointed to three interest rate cuts before the end of the year. Investors are also gearing up for the first-quarter earnings season, with some observers warning that profit expectations may have gone too far and disappointing reports could spark a pullback in equities. Oil prices steadie... #newstr #StockMarkets #UsData #InterestRates #FederalReserve #DurableGoods #ConsumerAssessment #EarningsSeason #OilPrices #CocoaPrices #Atos

φ HERE - Coherence-First News

India's Current Account Deficit Declines to 1.2% of GDP in Q3 2023-24 =============== #719f7845 ver:0.12 India's current account deficit (CAD) declined to $10.5 billion, representing 1.2% of GDP, in the October-December quarter (Q3) of 2023-24. This is a decrease from the CAD of $16.8 billion, or 2.0% of GDP, recorded in the same quarter of the previous fiscal year. The decline in CAD reflects a strengthening of the macroeconomic fundamentals of the Indian economy. Services exports grew by 5.2% on a year-on-year basis, and net services receipts increased both sequentially and from a year ago, helping to cushion the current account deficit. Private transfer receipts amounted to $31.4 billion, a 2.1% increase compared to the corresponding period a year ago. Foreign direct investment (FDI) recorded a net inflow of $4.2 billion, while foreign portfolio investment saw a net inflow of $12.0 billion... #newstr #India #CurrentAccountDeficit #Gdp #Q3202324

φ HERE - Coherence-First News

Cargo Ship in Baltimore Bridge Collapse Passed Inspections, Singapore Officials Say =============== #733809cc ver:0.43 Six people, believed to be part of a road construction crew, are missing after Baltimore's Francis Scott Key Bridge collapsed this morning. The collapse occurred after a 984-foot cargo ship, the Dali, hit the bridge's pillar. Two of the missing workers are from Guatemala. The ship's crew issued a 'mayday' call before the collision, allowing authorities to stop traffic. The US Coast Guard is examining damaged containers on the ship, some of which hold potentially hazardous materials. The bridge collapse has halted the flow of ships in and out of Baltimore, impacting the local economy and supply chains along the US East Coast. Dive teams from various state and local agencies were involved in the rescue operations, which have now transitioned to a recovery phase. The National Transportation S... #newstr #Baltimore #BridgeCollapse #ShipInspections #Singapore

φ HERE - Coherence-First News

The Clash of Legal Giants in the US Antitrust War: Brandeis vs. Bork =============== #f6254fcc ver:0.1 The ongoing power struggle between Washington, D.C. and Big Tech has intensified with the United States government's legal actions against major technology companies. The Biden administration's lawsuit against Apple, accusing the company of building a monopoly with the iPhone, is a significant development in the battle to rein in the power of Big Tech. Similarly, the government's accusations against Google for abusing its monopoly power in the search engine and digital advertising markets highlight the concerns about the dominance of these tech giants. The FTC's lawsuit against Meta for reducing competition through its acquisitions further underscores the regulatory efforts to address monopolistic practices in the tech industry. The European Union has now joined the United States in target... #newstr #Antitrust #Us #DepartmentOfJustice #AppleInc #AlphabetInc #MetaPlatforms #EuropeanUnion #LouisBrandeis #RobertBork #Monopoly #InformationbasedEconomy #SupremeCourt

φ HERE - Coherence-First News

Thai and Philippine Economies Show Mixed Growth in Q1 2024 =============== #7dec7653 ver:0.1 South Korea's economic growth in the third quarter weakened slightly, with high borrowing costs affecting consumer spending and slow export recovery. GDP for the July-September period is projected to have grown 0.5% quarter-on-quarter on a seasonally adjusted basis. However, the fragile global outlook remains a drag on offshore demand and on Asia's fourth-largest economy . Similarly, Thailand's economy grew less than expected in the third quarter, mainly due to weak exports. GDP grew 1.5% on-year in July-September, lower than the forecasted 2.2% by the National Economic and Social Development Council (NESDC). The decline in exports was cited as the main reason for the lower growth. The NESDC now expects the economy to grow at the low end of the forecasted range for the year . Thailand's ... #newstr #ThaiEconomy #PhilippineEconomy #Q12024Growth #InfrastructureSpending #Exports #ConsumerSpending #Covid19 #ManufacturingSector #SupplyChainDisruptions #RisingCosts #SmallAndMediumEnterprises #GovernmentSupport

φ HERE - Coherence-First News

'Civil War' Movie Explores Politics and Journalism in a Near-Future United States =============== #c3d93bc5 ver:0.19 The highly anticipated film 'Civil War' had its world premiere at the South by Southwest Film & TV Festival in Austin, Texas. Directed by Alex Garland and produced by A24, the film explores the practicalities and horrors of a civil war in modern-day America. Set in a near-future dystopia, the story follows a journalist named Lee Smith and her team as they navigate through a hostile and fractured nation in hopes of securing an interview with its controversial leader . The reactions from the premiere were mixed, with some praising the film's gripping and affecting portrayal of the grim reality of war. However, others felt that the movie fell short of its potential and lacked political grounding. The film does not provide a clear explanation for why the nation is fighting itself, instead foc... #newstr #CivilWar #Movie #Politics #Journalism #AlexGarland #KirstenDunst #WagnerMoura

φ HERE - Coherence-First News

US Containerized Imports Continue to Rise, Reflecting Recovery from the Pandemic =============== #570b749f ver:0.14 Fluctuations in air and ocean freight volumes have had a significant impact on North American ports in 2022. Ocean freight volumes were affected by inflationary pressures, a softening US economy, and labor negotiations, resulting in a slowdown in throughput. Despite these challenges, the Port of Los Angeles maintained its position as the leading port, followed by the Port of New York-New Jersey. While some ports on the West Coast experienced declines in container volume, ports on the East Coast saw increases. Notably, Port Houston experienced the largest jump in container volume. In the air cargo sector, North American airports faced decreases in cargo throughput due to economic uncertainty. Ted Stevens Anchorage International remained the top airport for air cargo, followed by Memphis Int... #newstr #PortOfLosAngeles #CargoVolume #ContainerShipping #UsEconomy #Imports #PandemicRecovery

φ HERE - Coherence-First News

Analysts Surprised as Japanese Yen Weakens Further Against US Dollar Despite Expectations of Appreciation =============== #080c8e6b ver:1.18 The Japanese yen has continued to weaken against the US dollar, surprising analysts who had expected the yen to appreciate in 2024. The yen has lost nearly 7% against the dollar this year, making it the worst-performing developed-market currency. The yen's weakness is attributed to factors beyond Japan, including US monetary policy and global investor sentiment. The historical relationship between US economic conditions and monetary policy did not hold true this time, as rising interest rates had a limited impact on the US economy. The yen's depreciation is also influenced by carry trades and the global macro outlook. Currency forecasters are advised to consider the evolving world and question their assumptions . Despite the Bank of Japan's decision to end negative interest rates, the yen... #newstr #JapaneseYen #UsDollar #CurrencyExchangeRates #BankOfJapan #UsData #CurrencyForecast #UsMonetaryPolicy #GlobalInvestorSentiment

φ HERE - Coherence-First News

Vietnam Appeals for 'Market Economy' Status to Strengthen US Ties =============== #936a97a5 ver:0.23 Vietnam has called on the United States to recognize it as a market economy, citing stronger trade ties and the benefit to Washington in diversifying from China, according to an article by Channel NewsAsia . Vietnamese Foreign Minister Bui Thanh Son made the appeal during his visit to Washington, stating that a strong, independent, resilient, and prosperous Vietnam is in the interest of the United States. Vietnam hopes that the United States will soon recognize its market economy status. However, there are concerns about organized labor's rights in Vietnam, with some senators urging a decision against granting market economy status. Despite this, Vietnam offers potential in key areas of interest to the United States, such as semiconductors, critical minerals, and artificial intelligence. T... #newstr #Vietnam #UnitedStates #MarketEconomy #TradeTies #China #VietnameseForeignMinister #BuiThanhSon #Semiconductors #CriticalMinerals #ArtificialIntelligence

φ HERE - Coherence-First News

Germany's Economic Contraction Raises Concerns for Europe =============== #2444492a ver:0.26 The German economy, often considered the industrial powerhouse of Europe, is experiencing economic contraction and is expected to deliver little to no growth for the year. This contraction aligns with the recent release of the eurozone's GDP data for Q4 2023, which revealed a 0.1% contraction and potentially indicates that the eurozone is entering a recession . Germany's economic challenges are attributed to subdued demand and a deglobalizing world . The German economy contracted by 0.3% quarter-on-quarter in Q4, aligning with preliminary estimates . Household final consumption expenditure in Germany increased by 0.2% quarter-on-quarter, and the services sector contributed positively, with government final consumption expenditure rising . However, fixed capital formation in construction ... #newstr #Germany #Europe #Economy #EconomicGrowth #IndustrialPowerhouse #Demand #Deglobalization #Netherlands #Ireland #France #Recession #Investment #ProductivityGrowth

φ HERE - Coherence-First News