Financial News Network - Economic News

US core capital goods orders tumble; shipments are flat

New orders for U.S.-made capital goods fell more than expected in April, further evidence that manufacturing and the broader economy were slowing.

Read more: https://www.cnbc.com/2019/05/24/durable-goods-orders-april-2019.html

China denounces US 'rumors' and 'lies' about Huawei ties to Beijing

China denounced U.S. Secretary of State Mike Pompeo for fabricating rumors after he said the chief executive of China's Huawei was lying about his company's ties to the Beijing government.

Read more: https://www.cnbc.com/2019/05/24/china-denounces-us-rumors-and-lies-about-huawei-ties-to-beijing.html

The world's largest shipping firm warns of 'considerable uncertainties' as trade tensions rise

Danish shipping group A.P. Moller-Maersk on Friday posted first-quarter profit close to expectations and warned that trade tensions and slowing economic growth constitute "considerable uncertainties."

Read more: https://www.cnbc.com/2019/05/24/maersk-earnings-profit-in-line-but-trade-tensions-a-concern.html

Trump administration unveils $16 billion bailout to farmers hurt by China trade war

The Trump administration announced a $16 billion aid program for American farmers that includes a three-pronged package of aid for American farmers who have been hurt by the U.S. trade war with China.

Read more: https://www.cnbc.com/2019/05/23/trump-to-give-16-billion-to-farmers-hurt-by-trade-war-sonny-perdue.html

The US tariffs on China have been paid almost entirely by US importers: IMF study

U.S. tariffs on Chinese goods are hurting an unintended target as the trade war with China rages, an International Monetary Fund study finds.

Read more: https://www.cnbc.com/2019/05/23/the-us-tariffs-on-china-have-been-paid-almost-entirely-by-us-importers-imf-study.html

US weekly jobless claims unexpectedly fall

First-time claims for state unemployment benefits were expected to total 215,000 for the most recent week, up slightly from the 212,000 claims reported for the previous week.

Read more: https://www.cnbc.com/2019/05/23/weekly-jobless-claims.html

Odds of a US-China trade deal are 'rapidly receding,' Stephen Roach warns

One of Wall Street's leading experts on China suggests the window is closing on a trade deal.

Read more: https://www.cnbc.com/2019/05/23/odds-of-us-china-trade-deal-rapidly-receding-stephen-roach.html

Trump car tariffs would be a 'first-order slap in the economic face,' Citi's Buiter says

The global economy would be hit hard if President Donald Trump decides to impose steep tariffs on imported cars, Citi's Willem Buiter told CNBC on Thursday, with Germany likely to bear the brunt of any losses.

Read more: https://www.cnbc.com/2019/05/23/trump-car-tariffs-would-be-a-first-order-slap-in-the-economic-face-citis-buiter-says.html

Beijing experts' latest message as trade talks stall: The US needs China

Chinese government-aligned experts are stressing that the U.S. will need to negotiate a trade agreement.

Read more: https://www.cnbc.com/2019/05/23/chinese-experts-latest-message-as-trade-talks-stall-us-needs-china.html

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Economic News

US core capital goods orders tumble; shipments are flat

China denounces US 'rumors' and 'lies' about Huawei ties to Beijing

The world's largest shipping firm warns of 'considerable uncertainties' as trade tensions rise

Trump administration unveils $16 billion bailout to farmers hurt by China trade war

The US tariffs on China have been paid almost entirely by US importers: IMF study

US weekly jobless claims unexpectedly fall

Odds of a US-China trade deal are 'rapidly receding,' Stephen Roach warns

Trump car tariffs would be a 'first-order slap in the economic face,' Citi's Buiter says

Beijing experts' latest message as trade talks stall: The US needs China

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