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Hazloc Heaters
Hazloc Heaters

Five Things to Know in World Business Today

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These translations are done via Google Translate

Sep 19, 2018, by Lorcan Roche Kelly



U.S. Trade Representative Robert Lighthizer and Canadian Foreign Minister Chrystia Freeland will meet later today in Washington as the two countries remain at odds over some key details on a deal. President Donald Trump has warned he would impose tariffs on Canada in the event of no deal being reached, while Congress remains unwilling to approve a Mexico-only pact. In Asia, Chinese Premier Li Keqiang said the nation would not devalue its currency as part of its response to the latest round of U.S. duties.


European leaders are gathering in Salzburg, Austria for an informal summit that will try to break the deadlock in Brexit talks. British Prime Minister Theresa May will insist she is committed to reaching an agreement if better terms are proposed, according to a senior U.K. official. Meanwhile, the pound jumped after data showed inflation in Britain was higher than forecast in August, accelerating 2.7 percent from a year earlier.


The Senate Judiciary Committee will hold a hearing into a sexual assault accusation against Supreme Court nominee Brett Kavanaugh despite calls from his accuser to allow the FBI to investigate the claims first. Without an investigation, there is a chance that California college professor Christine Blasey Ford may not attend Monday’s hearing at all. President Trump reiterated his support for his nominee, saying he feels badly “that he’s going through this.”

Markets rise

Overnight, the MSCI Asia Pacific Index rose 1.2 percent while Japan’s Topix index closed 1.5 percent higher as the region’s markets rallied for a second day. In Europe, the Stoxx 600 Index was 0.1 percent higher at 5:45 a.m. Eastern Time with mining stocks the best performers. S&P 500 futures were flat, the 10-year Treasury yield was at 3.059 percent, and gold was higher.

EM time?

Goldman Sachs Asset Management is buying Turkish and Argentinian government debt in a bet that the worst is over for the countries that were among those hardest hit by this year’s sell-off. JPMorgan Chase & Co. strategists say the time has come to cut U.S. equity holdings and add money to emerging markets as the benefits of Trump’s tax cuts dissipate. The calls come as a fundamental shift in global trade patterns may be underway.

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