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Copper prices to rise for Indian manufacturers after Vedanta…

MUMBAI/THOOTHUKUDI, India ( ) – Indian electrical goods manufacturers will have to rely more on imported copper and are bracing for a rise in costs, after the government in the southern state of Tamil Nadu this week ordered the permanent closure of Vedanta’s copper smelter there.

Industry executives and analysts say this is likely to lead to an increase in prices of a wide range of products from power cables to electronic appliances, and televisions to auto parts, as manufacturers look to pass on the cost increases at a time when a weaker rupee and a surge in crude oil prices have put pressure on profit margins.

And while international copper prices are not expected to climb as a direct result of the closure in the next few weeks, if the plant is permanently shut there could be an impact.

“It may not impact straight away, but if it’s a sustained shutdown, I’m talking more than a few weeks from here, then it will start to have a meaningful impact,” said Daniel Hynes, senior commodities strategist at ANZ in Sydney.

India consumes 1.5 million tonnes of copper annually, half of which has been produced by two companies inside the country – Vedanta Ltd (VDAN.NS), a unit of London-listed Vedanta Resources VED.L, and Hindalco Industries (HALC.NS), a unit of the Aditya Birla group. The remaining copper demand is met largely via imports.

On Monday, the state government in South India ordered the permanent closure of Vedanta’s 400,000 tonnes copper smelter after protests last week led to the killing of 13 people.

“We are expecting an increase of at least 200,000 to 250,000 tonnes of,上海新夜网龙凤Cade, copper imports for this year,” said Shreegopal Kabra, managing director of RR Global, a wire manufacturing firm that is one of the largest consumers of copper in India.


Copper import costs are also likely to rise by 5-15 rupees per kilogram, driven by strong demand and a weak rupee, said Kabra, who heads India’s biggest electrical industry lobby group, Indian Electrical & Electronics Manufacturers’ Association (IEEMA).

Among its emerging economy peers, the rupee has been one of the worst performing currencies against the dollar in recent months.

India is already struggling with inflation fears as the ris上海夜生活网e in oil prices has sharply lifted its import bill.

“We are expecting that the shutdown can lead to an increased import bill of over $2 billion,” said an executive from Vedanta, who asked not to be named.

India’s copper consumption, often seen as an economic barometer because it is used in many products – from electrical equipment to pipes – is expected to grow at a pace of more than 7 percent this ,上海夜网后花园Tallulah,year, in-line with the nation’s GDP.

The landed cost of copper in India is 456 rupees per kg ($6.76) as of May 30, according to figures from commodity exchanges.

The metal is sold globally at the London Metal Exchange (LME) rate, but based on demand and tenure of a purchase deal, a premium is typically charged over the LME rate in India.

“The domesti,上海高端夜生活在那里Tallulah,c premium is expected to rise along with imports of copper due to the shutdown,” said Goutam Chakraborty, analyst with domestic broking firm Emkay Global.

He declined to say how much he expected this premium to rise.

Many companies will have to import copper via spot deals due to the sudden turn of events at Vedanta, said Milan Mehta, the managing director of Precision Wire.

Clinton’s charity confirms Qatar’s $1 million gift while she was at…

NEW YORK ( ) – The Clinton Foundation has confirmed it accepted a $1 million gift from Qatar while Hillary Clinton was U.S. secretary of state without informing the State Department, even though she had promised to let the agency review new or significantly increased support from foreign governments.

Qatari officials pledged the money in 2011 to mark the 65th birthday of Bill Clinton, Hillary Clinton’s husband, and sought to meet th上海夜生活网e former U.S. president in person the following year to present him the check, according to an email from a foundation official to Hillary Clinton’s presidential campaign chairman, John Podesta. The email, among thousands hacked from Podesta’s account, was published last month by WikiLeaks.

Clinton signed an ethics agreement governing her family’s globe-straddling foundation in order to become secretary of state in 2009. The agreement was designed to increase transparency to avoid appearances that U.S. foreign policy could be swayed by wealthy donors.

If a new foreign government wished to donate or if an existing foreign-government donor, such as Qatar, wanted to “increase materially” its support of ongoing programs, Clinton promised that the State Department’s ethics official would be notified and given a chance to raise any concerns.

Clinton Foundation officials last month declined to confirm the Qatar donation. In response to additional questions, a foundation spokesman, Brian Cookstra, this week said that it accepted the $1 million gift from Qatar, but this did not amount to a “material increase” in the Gulf country’s support for the charity. Cookstra declined to say whether Qatari officials received their requested meeting with Bill Clinton.

Officials at Qatar’s embassy in Washington and ,上海足浴夜网联系方式Barrett,in its Council of Ministers in the capital, Doha, declined to discuss the donation.

The State Department has said it has no record of the foundation submitting the Qatar gift for review, and that it was incumbent on the foundation to notify the department about donations that needed attention. A department spokeswoman did not respond to additional questions about the donation.

According to the foundation’s website, which lists donors in broad categories by cumulative amounts donated, Qatar’s government has directly given a total of between $1 million and $5 million over the years.

The Clinton Foundation has said it would no longer accept money from foreign governments if Clinton is elected president and would spin off those programs that are dependent on foreign govern,上海夜网后花园Quay,ments.


Foundation officials told last year that they did not always comply with central provisions of the agreement with President Barack Obama’s administration, blaming oversights in some cases.(reut.rs/2fkHPCh)

At least eight other countries besides Qatar gave new or increased funding to the foundation, in most cases to fund its health project, without the State Department being informed, according to foundation and agency records. They include Algeria, which gave for the first time in 2010, and the United Kingdom, which nearly tripled its support for the foundation’s health project to $11.2 million between 2009 and 2012.

Foundation officials have said some of those donations, including Algeria, were oversights and should have been flagged, while others, such as the UK increase, did not qualify as material increases.

The foundation has declined to describe what sort of increase in funding by a foreign government would have triggered notification of the State Department for review. Cookstra said the agreement was designed to “allow foreign funding for critical Clinton Foundation programs” to continue without disruption.

The State Department said it has no record of bei,上海021夜网Macey,ng asked by the foundation to review any increases in support by a foreign government.

Asked whether Qatar was funding a specific program at the foundation, Cookstra said the country supported the organization’s “overall humanitarian work.”

“Qatar continued supporting Clinton Foundation at equal or lower levels” compared with the country’s pre-2009 support, he said. He declined to say if Qatar gave any money during the first three years of Clinton’s four-year term at the State Department, or what its support before 2009 amounted to.

In another email released by WikiLeaks, a former Clinton Foundation fundraiser said he raised more than $21 million in connection with Bill Clinton’s 65th birthday in 2011.

Spokesmen for Hillary Clinton’s campaign and Bill Clinton did not respond to emailed questions about the donation.

Republican presidential candidate Donald Trump has said that major donors to the Clinton Foundation may have obtained favored access to Clinton’s State Department, but has provided little evidence to that effect. Clinton and her staff have dismissed this accusation as a political smear.

Last month, New York Attorney General Eric Schneiderman ordered the Donald J. Trump Foundation to stop fundraising in the state, saying it had not registered to solicit donations.

Foxconn says investigating labor conditions at China factory used…

NEW YORK ( ) – Contract manufacturer Foxconn said on Sunday it is investigating a plant in China that makes devices for Amazon.com Inc (AMZN.O), after a U.S. watchdog group criticized what it described as harsh working conditions at the factory.

A 94-page report by New York-based China Labor Watch that followed a nine-month investigation cited excessive hours, low wages, inadequate training and an overreliance on “dispatch” or temporary workers in violation of Chinese law at the Hengyang Foxconn plant in Hunan province, which makes Echo Dot smart speakers and Kindle e-readers.

“We are carrying out a full investigation of the areas raised by that report, and if found to be true, immediate actions will be taken to bring the operations into compliance with our Code of Conduct,” Foxconn Technology Group said in a statement emailed to .

Taiwan-based Foxconn, known formally as Hon Hai Precision Industry Co Ltd (2317.TW), is the world’s largest contract electronics manufacturer and employs more than a million people.

Foxconn, which also makes Apple Inc (AAPL.O) iPhones, came under fire in 2010 for a spate of suicides at plants in China. Foxconn pledged to improve working conditions.

China Labor Watch said its investigation found that about 40 percent of workers at the plant 上海夜生活论坛were dispatch workers, far exceeding the 10 percent limit under Chinese law. Dispatch workers were paid at the same rate for regular and overtime hours, rather than time and,上海夜生活乌托邦Lance, a half as required, said China Labor Watch P,上海夜生活群Jackson,rogram Officer Elaine Lu.

“They were underpaid,” Lu said. “That’s illegal.”

Dispatch workers earned 14.5 yuan ($2.26) per hour, the report said. Workers also put in ,上海夜生活Quay,more than 100 overtime hours per month during peak season, far more than the 36 hours allowed by law, and some worked for 14 consecutive days.

Amazon said it audited the factory in March and found overtime and use of dispatch workers were “issues of concern.”

“We immediately requested a corrective action plan from Foxconn,” Amazon said in a statement. It said it is monitoring Foxconn’s response and “compliance with our Supplier Code of Conduct. We are committed to ensuring that these issues are resolved.”

Foxconn said in an earlier statement that it “works hard to comply with all relevant laws and regulations” where it operates and conducts regular audits. “If infractions are identified, we work to immediately rectify them,” it said.

New Zealand allows fired NBC host Matt Lauer to keep his farm

SYDNEY ( ) – The New Zealand government ruled on Friday that former U.S. “Today Show” co-host Matt Lauer can keep his farm in the country, saying there was currently “insufficient evidence” he had failed required character tests for overseas investors.

NBC News fired Lauer las,上海夜生活网419Sabina,t November after a female colleague accused him of inappropriate sexual behavior.

That raised questions in New Zealand about whether Lauer would be able to retain an 11,000-hectare sheep and cattle farm he bought with his wife in February 2017, given the country’s strict foreign investment laws require investors to “remain of goo上海夜生活d character.”

New Zealand’s Overseas Investment Office (OIO), which has the power ,上海会所夜网Radcliff,to enforce the sale of property if any conditions are breached, said it had “insufficient evidence at this time to take proceedings against Mr Lauer for breach of the condition.”

Lisa Barrett, deputy chief executive of policy and overseas investment, noted that Lauer has not been charged with or convicted of any offense.

“However, the OIO will continue to actively monitor the matter should further information come to light,” Barrett said in a statement.

Ken Lindner, Lauer’s agent in Los Angeles, was not immediately available for comment.

Lauer recently issued a statement, included in the OIO’s decision, denying any allegations of “coercive, aggressive or abusive actions”, while acknowledging he “acted inappropriately as a husband, father and principal at NBC.”

Foreign ownership of land has generated a public backlash in New Zealand in rec,上海夜生活桑拿会所Larissa,ent years, with the center-left ruling coalition government introducing tougher standards for sale of farmland to foreigners.

Trump uses policy speech to attack media, promises to sue accusers

GETTSYBURG, Pa. ( ) – U.S. Republican presidential candidate Donald Trump promised on Saturday to foil a proposed deal for AT&T to buy Time Warner if he wins the N,上海夜哪里艳遇Pamela,ov. 8 election, arguing it was an example of a “power structure” rigged against both him and voters.

Trump, whose candidacy has caused ruptures in his party, listed his policy plans for the first 100 days of his presidency in a campaign speech in Gettysburg, Pennsylvania, near the site of a Civil War battlefield and a celebrated address by President Abraham Lincoln.

But he also defiantly raised personal grievances, describing how, if elected, he would address them from the White House in a way he said would benefit Americans.

The speech was billed by his campaign as a major outlining of his policies and principles. Many of the policy ideas Trump listed on Saturday were familiar, not least his promise to build a wall on the border with Mexico to deter illegal immigration and to renegotiate trade deals and to scrap the Obamacare health policy.

Moments after promising Americans that he represented a hopeful break from the status quo, he promised to sue nearly a dozen women who have come forward in the last two weeks to accuse him of sexu,上海夜网官方网站Radcliff,al assault, calling them liars.

And he added a new threat to his repeated castigation of U.S. media corporations, which he says cover his campaign unfairly to help ,上海夜生活网交流Quaid,Democratic candidate Hillary Clinton.

“They’re trying desperately to suppress my vote and the voice of the American people,” Trump, who often rails against media outlets and journalists covering his events, told supporters in his speech. Trump has not provided evidence for his assertion that the election would be rigged.

“As an example of the power structure I’m fighting, AT&T is buying Time Warner and thus CNN, a deal we will not approve in my administration because it’s too much concentration of power in the hands of too few,” Trump said.

Telecommunications company AT&T Inc (T.N) has agreed in principle to buy Time Warner Inc TWX.N, one of the country’s largest film and television companies, for about $85 billion and an announcement could be made as early as Saturday.

Trump also said he would look at “breaking” up the acquisition by Comcast Corp (CMCSA.O) of the media company NBC Universal in 2013.

“Deals like this destroy democracy,” he said in explaining his apparent deviation from the traditional Republican position that seeks to minimize the taxation and regulation of American companies.

Amazon.com Inc (AMZN.O), the online retailer, should also be paying “massive taxes”, Trump said, reminding voters that Amazon chief executive Jeff Bezos also owns the Washington Post, a newspaper whose coverage Trump dislikes.

Trump, a wealthy New York building developer and television star, acknowledged in a debate with Clinton on Oct. 9 that he had used investment losses to avoid paying taxes. The New York Times reported on Oct. 1 that Trump’s declared loss of $916 million in 1995 was so large that he could legally have avoided paying any federal income taxes for up to 18 years.

At a campaign event later on Saturday in Pittsburgh, Pennsylvania, Clinton criticized Trump’s stance on news outlets, noting that she receives negative coverage too.

“When he blows up at a journalist or criticizes the press and goes on and on and on – you know, I get criticized by the press,” she said. “I believe that’s part of our democratic system.”

In a statement, Clinton spokeswoman Christina Reynolds described the speech as “rambling, unfocused, full of conspiracy theories and attacks on the media, and lacking in any real answers for American families.”


Although Trump on Saturday described his plans at least in part as a response to his belief media organizations had treated him unfairly, he argued that less wealthy voters had even greater cause to worry.

“When a simple phone call placed with the biggest newspapers or television networks gets them wall-to-wall coverage with virtually no fact-checking whatsoever, here is why this is relevant to you,” he said. “If they can fight somebody like me who has unlimited resources to fight back, just look at what they could do to you, your jobs, your security, your education, your health care.”

Trump, who has said he may not accept the election’s outcome if he loses, is trailing Clinton in most polls – although he has narrowed the gap according to a /Ipsos poll released on Friday. Clinton maintained her commanding lead in the race to win the Electoral College, however, and claim the U.S. presidency, a /Ipsos States of the Nation project poll released on Saturday showed.

Trump has bluntly said that Mexico will pay for the wall, an idea the Mexican government has scoffed at. He tweaked his language on Saturday, saying the United States would fully fund the wall with the understanding that Mexico would reimburse the cost.

Trump’s campaign was thrown into crisis two weeks ago when a 2005 video was released showing him bragging about groping and kissing women, prompting several prominent Republicans to announce they would not vote for him.

Since then, at least 10 women have said Trump made unwanted sexual advances, including groping or kissing, in incidents from the early 1980s to 2007, all of which Trump has denied. On Saturday, Jessica Drake, an adult film actor, accused Trump of pressuring her to have sex with him 10 years ago when they met at a golf tournament. After that, she said a man, possibly Trump, called her to offer her $10,000 if she would have sex with him, which she declined. Trump’s campaign said the accusations were false.

Trump, 70, said he was being attacked because he was an outsider who had never previously run for office, which he argues is a virtue.

“The fa上海夜生活ct that Washington and the Washington establishment has tried so hard to stop our campaign is only more proof that our campaign represents the kind of change that only arrives once in a lifetime,” he said.

U.S. abstains for first time on U.N. call for end to Cuba embargo

UNITED NATIONS ( ) – The United States on Wednesday abstained for the first time from a United Nations General Assembly vote on a resolution calling for an end to a U.S. economic embargo on Cuba, after opposing such measures every year for 24 years.

For the 25th time, the 193-member General Assembly adopted the resolution with 191 votes in favor. Israel, which opposed the resolution last year, also abstained on Wednesday. Such resolutions are non-binding, but can carry political weight.

Communist-run Cuba and the United States, former Cold War foes, began normalizing relations in 2014. U.S. President Barack Obama has taken steps to ease trade and travel restrictions on Cuba, but only the U.S. Congress can lift the full embargo.

The Republican-controlled Congress has resisted Obama’s call to lift Washington’s economic embargo after more than 50 y,上海夜网推油Idaleen,ears. Republican critics say Obama is making too many concessions to Cuba for too little in return, especially on human rights.

The U.N. General Assembly applauded when U.S. Ambassador to the United Nations Samantha Power announced prior to the vote that the United States would abstain.

“Abstaining on this resolution does not mean that th,上海仙霞路夜生活Mabel,e United States agrees with all of the policies and practices of the Cuban government. We do not,” Power told the General Assembly.

“We are profoundly concerned by the serious human rights violations that the Cuban government continues to commit with impunity against its own people,” she said.

Cuba’s Foreign Minister Bruno Rodriguez described the abstention as a “positive step for the future of improving relations between the United States and Cuba.”

Rodriguez said in September that damage from U.S. sanctions between April 2015 and March 2016 amounted to $4.6 billion and to $125.9 billion since the embargo’s inception more than 5上海夜生活0 years ago.

In March, Obama made the first visit to Havana by a U.S. president in 88 years. His trip was made possible by his breakthrough agreement with Cuban President Raul Castro in December 2014 to cast aside decades of hostility that began soon after Cuba’s 1959 revolution.

Since the opening, Obama has repeatedly used his executive powers to relax trade and travel restrictions, while pushing Cuba to accelerate market-style reforms and boost political and economic freedoms.

The U.N. resolution adopted on Wednesday takes note of the steps taken by Obama as positive but “still limited in scope.” It urge,上海夜生活Hallie,s the United States to repeal or invalidate the embargo on Cuba as soon as possible.

Written by shyw on October 20, 2018 Categories: huvoazrn Tags: , , ,

Congress passes funding bill averting government shutdown

WASHINGTON ( ) – The U.S. Congress approved a stop-gap funding bill on Wednesday that averts a looming federal government shutdown and provides urgently needed money to help battle an outbreak of the Zika virus.

Passage of the bipartisan legislation came shortly after Republicans and Democrats ended a months-long fight over whether Washington should provide aid to the city of Flint, Michigan, as it struggles with a crisis over contaminated drinking water.

Separate legislation was approved by the House of Representatives earlier in the day setting aid for Flint. It must now be reconciled with a somewhat different bill passed by the Senate.

The House voted 342-85 in a late-night session on Wednesday

to approve stop-gap funding to keep the U.S. government operating from Oct. 1, the start of the new fiscal year, until Dec. 9, when lawmakers will attempt to approve longer-term money.

With existing funds due to expire on Saturday, House Appropriations Committee Chairman Hal Rogers said the legislation上海夜生活 “is a last resort, but at this point it is what we must do … to keep the lights on in,上海夜生活怎么玩Kailani, our government.”

The Senate voted 72-26 earlier on Wednesday to adopt the short-term spending bill.

Besides providing money to keep the government operating, the legislation also contains $1.1 billion to battle the Zika virus that has hit Puerto Rico hard and spread to U.S. states, most notably Florida.

The disease can cause severe birth defects. Funds would be used to develop a vaccine and reduce Zika exposure.

The bill also includes $500 million for flood relief in Louisiana and other states.

In a series of carefully orchestrated maneuvers after the Senate approved the temporary funding, the House passed a wide-ranging water resources bill containing $170 million to assist Fl,上海夜网官方网站Faith,int by a vote of 399-25.

Democrats have demanded action on the crisis, which stems from dangerous levels of lead in Flint’s drinking water.

A Senate version of the bill contains $220 million for Flint and other cities with problem water systems.

The two chambers will have to hammer,上海夜网后花园Dallas, out compromise legislation after the Nov. 8 presidential and congressional elections. Wednesday’s flurry of activity in Congress came as lawmakers rushed to recess this week until after the elections.

Conservative groups urged Congress to defeat the funding bill. However, with House and Senate members facing an imminent deadline for approving new money and lawmakers eager to go home to campaign for re-election, the measure moved quickly through Congress on Wednesday.

The White House said it was disappointed that the temporary funding bill continued a provision barring the Securities and Exchange Commission from taking action to increase transparency in public companies’ political spending.

It also expressed disappointment that Congress failed to take steps to ensure that the Export-Import Bank was able to fully operate its loan guarantee programs.

Nevertheless, President Barack Obama is expected to sign the bill into law.

Outside investors rebuke Facebook vote structure, tallies show

BOSTON ( ) – A wide majority of outside investors at Facebook Inc backed a measure that would上海夜生活论坛 revamp its voting structure and end the supervoting rights of shares held by Mark Zuckerberg and others, seen as a rebuke to the chief executive of the world’s largest social media company.

The measure did not pass, said Facebook, which released tallies indicating the result on Tuesday, and where Zuckerberg controls about 60 percent of the company’s votes. The company is under scrutiny over its response to data privacy concerns.

“There are a lot of outside voters who are not happy with what’s going on there,” said Dayna Harris, a partner at compensation consulting firm Farient Advisors.

A Facebook spokeswoman declined to comment on the filing, which followed Facebook’s annual shareholder meeting last week where it described the outcome of the votes but did not give exact figures.

Facebook said roughly 1.29 billion votes were cast “for” a proposal tha,上海凤楼夜网Lark,t would have the company move to a structure of one vote per share and do away with the supermajority shares, while 4.74 billion shares were voted “against” the proposal.

Setting aside the roughly 4.48 billion votes controlled by Zuckerberg and other insiders as of April that presumably would have been voted against the proposal, Harris said, about 83 percent of shares voted by outsiders supported the proposal – a higher level of support than shareholder measures usually receive.

Using a similar method, Harris also calculated Zuckerberg received support from only about 65 percent of investors, much lower than the usual 90-percent-plus support directors typically receive at big U.S. companies. Facebook Chief Operating Officer Sheryl Sandberg received a similarly low level of support from outsiders.

A similar shareholder proposal at last year’s Facebook annual meet,上海夜生活服务Fabi,ing received a comparable level of support, and opposition to Zuckerberg and Sandberg was also comparable.

Charles Elson, a professor at the University of Delaware who follows corporate governance, said the results show big investors are unhappy but stuck with Facebook’s voting structure. “People are upset, but there’s nothing they can do about it,” he said.

Facebook ha,上海夜生活网419Gabi,s been under scrutiny from regulators and shareholders after it failed to protect the data of some 87 million users that was shared with now-defunct political data firm Cambridge Analytica.

‘No doubt’ Russia behind hacks on U.S. election system: senior…

WASHINGTON ( ) – A senior Democratic lawmaker said Sunday he had “no doubt” that Russia was behind recent hacking attempts targeting state election systems, and urged the Obama administration to publicly blame Moscow for trying to undermine confidence in,上海夜网千花Pamela, the Nov. 8 presidential contest.

The remarks from Representative Adam Schiff, the top Democrat on the intelligence committee in the U.S. House of Representatives, come amid heightened concerns among U.S. and state上海夜网 officials about the security of voting machines and databases, and unsubstantiated allegations from Republican candidate Donald Trump that the election could be “rigged.”

“I have no doubt [this is Russia]. And I don’t think the administration has any doubt,” Schiff said during an appearance on ABC’s “This Week.”

Schiff’s call to name and shame the Kremlin came a week after Trump questioned widely held conclusions made privately by the U.S. intelligence community that Russia is responsible for the hacking activity.

“It could be Russia, but it could also be China,” Trump said during a televised debate with Democratic candidate Hillary Clinton. “It also could be somebody sitting on their bed ,上海夜生活网交流Macauly,that weighs 400 pounds.”

On Saturday, Homeland Security Secretary Jeh Johnson said hackers have probed the voting systems of many U.S. states but there is no sign that they have manipulated any voting data.

Schiff said he doubted hackers could falsify vote tallies in a way to affect the election outcome. Officials and experts have said the decentralized and outdated nature of U.S. voting technology makes such hacks more unlikely.

But cyber attacks on voter registration systems could “sow discord” on election day, Schiff said. He further added that leaks of doctored emails would be difficult to disprove and could “be election altering.”

The National Security Agency, FBI and DHS all concluded weeks ago that Russian intelligence agencies conducted, directed or coordinated all the major cyberattacks on U.S. political organizations, including the Democratic National Committee, and individuals, a U.S. official w,上海晚上耍女人的地方Falkner,ho is participating in the investigations said on Sunday.

    However, the official said, White House officials have resisted naming the Russians publicly because doing so could result in escalating cyberattacks, and because it is considered impossible to offer public, unclassified proof of the allegation.

Schiff and Senator Dianne Feinstein, the top Democrat on the U.S. Senate intelligence committee, said last month they had concluded Russian intelligence agencies were “making a serious and concerted effort to influence the U.S. election.”

Clinton calls national security team after attacks, as Trump…

WASHINGTON/HIGH POINT, N.C. ( ) – Democratic presidential nominee Hillary Clinton consulted national security advisers on Tuesday after weekend bomb blasts renewed fears of domestic attacks, as Republican Donald Trump accused her of pushing policies that made the United States less safe. ,上海夜生活服务Naia,

The two rivals in the Nov. 8 election have been vying to portray themselves as the best equipped to protect the nation.

The domestic security issue returned to the forefront after a New York City bomb injured 29 people, a pipe bomb went off and unexploded bombs turned up in separate incidents in New Jersey, and a man stabbed 10 people at a Minnesota mall.

Clinton spoke by phone with former Defense Department official Michele Flournoy, former CIA deputy head Mike Morell and other advisers, her,夜上海419龙凤论坛Faith, campaign said in an email.

“We can’t lose our cool and start ranting and waving our arms,” Clinton said on the call, according to her campaign in an 上海夜生活论坛apparent reference to Trump. “We shouldn’t toss around extreme proposals that won’t be effective and lose sight of who we are. That’s what the terrorists are aiming for.”

The call was supposed to be open to news media, but when reporters called in, they could not hear anything. Clinton’s campaign provided notes to reporters afterward.

Clinton has called for better intelligence, new efforts to counter online recruiting of militants and smashing Islamic State strongholds in the Middle East.

She has said Trump’s rhetoric against what he calls “radical Islamic terrorism” is helping Islamic State recruit more fighters.

At a rally in High Point, North Carolina, Trump countered by saying that Clinton, as Democratic President Barack Obama’s first secretary of state from 2009 to 2013, backed policies that made the United States less safe.

“I’m much tougher than her on this horrible situation, but she goes around saying it’s a recruiting tool,” Trump said.

The New York businessman accused Clinton of supporting policies in Iraq and Syria that he said allowed Islamic State to take root.

Trump has pointed to the pullout of U.S. troops from Iraq in 2011 – which occurred after the Obama administration and Iraqi leaders could not agree on the withdrawal – and what he has characterized as a push for regime change in Syria. A U.S.-led coalition has conducted air strikes on Islamic State in Iraq and northern Syria.

Trump also criticized Clinton for supporting the entry of some Syrian refugees into the United States, reiterating his call for tougher vetting of people seeking admission. He has instead proposed safe zones for refugees, which he says Gulf states would fund.

“There’s nothing like doing things with other people’s money,” Trump said at a rally later on Tuesday in Kenansville, North Carolina.

On Monday, U.S. authorities arrested Ahmad Khan Rahami following a shootout with police in Linden, New Jersey, in connection with the Saturday night bombing in Manhattan’s Chelsea n,上海夜网邀请码Lance,eighborhood. Rahami, 28, is a naturalized American citizen born in Afghanistan.

Law enforcement officials were also investigating the stabbings, also on Saturday night, at the St. Cloud, Minnesota, mall as “an act of terrorism. An off-duty policeman fatally shot the attacker, Dahir Adan, 20, whom an Islamic State news agency claimed as “a soldier” of the militant group. could not verify the claim.

Adan came from a Somali family that settled in the United States.


At the Kenansville rally, Trump said he would dislodge a political establishment that he said ignored working people.

“They go to the same restaurants, they go to the same conferences, they have the same friends and connections, they write checks to the same think tanks and produce the same papers, it’s a gravy train that never ends,” Trump said.

Democrats, in turn, criticized Trump’s business activities. U.S. Senate Democratic leader Harry Reid called the real estate developer a “fraud” in a speech on the Senate floor, pointing to his multiple bankruptcies and lawsuits.

Clinton’s campaign repeated its call for Trump to release his tax returns after The Washington Post reported Trump’s charitable foundation had spent thousands of dollars to settle lawsuits involving his businesses.

Factbox: Plans for electric car battery production in Europe

( ) – China’s BYD (1211.HK) (002594.SZ) is looking at launching battery production in Europe, the latest Asian battery maker aiming to make inroads in Europe as Brussels seek to build a home-grown industry to fuel a surge in electric car production.

Europe has only one operating factory producing battery cells for electric cars – a plant in Britain that produces batteries for Nissan (7201.T) vehicles such as the LEAF.

Below are details of plans to establish electric vehicle (EV) battery plants in Europe:

NORTHVOLT http://northvolt.com

The Swedish company, headed by a former T上海夜生活esla (TSLA.O) executive, aims to build Europe’s biggest lithium-ion battery factory, producing 32 gigawatt hours (GWh) of battery cells a year by 2023, rivalling Tesla’s U.S. “gigafactory”.

It has partnered with Siemens (SIEGn.DE), ABB (ABBN.S) and Volkswagen-owned (VOWG_p.DE) truckmaker Scania to build the 4 billion euro ($4.7 billion)plant while the European Investment Bank has provided financial support.

TERRAE https://www.terrae.com

The German-based consortium of 17 companies and research institutions plans to build two foundries, where lithium-ion battery cells are custom produced to customers’ specifications. The two factories aim to have a capacity of 34 GWh by 2028.

BYD http://en.byd.com (1211.HK) (002594.SZ)

Chinese electric vehicle maker BYD is also one of the world’s biggest battery producers with the lowest production costs in the industry, according to Bernstein Research.

BYD is considering cell production in Europe, an executive told , adding it was not clear where it might be located.

BYD has a growing business making electric buses and is also involved in monorails, solar farms, and energy storage. The company has two production sites for electric buses in Europe, in Hungary and France.

The company, backed by Warren Buffett’s Berkshire Hathaway Inc (BRKa.N), warned in March that Chinese subsidy cuts for new-energy vehicles could slash its quarterly profit by as much as 90 percent.

CATL www.catlbattery.com/en

China’s Contemporary Amperex Technology Co (CATL) (300750.SZ), one of the biggest EV battery producers, said in November it was planning a $2 billion initial public offering to boost its lithium-ion battery output six-fold to 50 GWh capacity by 2020.

In January last year, CATL bought a 22 percent stake in Finnish auto supplier Valmet Automotive and has said it plans to build a factory in Europe, but has not announced ,上海夜生活网419Fabi,details.

Volkswagen and Daimler (DAIGn.DE) have said they plan to buy batteries from CATL.

LG CHEM www.lgchem.com/global/main (051910.KS)

South Korea’s LG Chem plans to produce 100,000 EV batteries per ye,上海夜生活男人好去处Cain,ar at a Polish factory due to be completed this year.

LG Chem supplies batteries to Volkswagen, General Motors (GM.N) and Renault SA (RENA.PA).

SAMSUNG SDI http://www.samsungsdi.com (006400.KS)

South Korea’s Samsung SDI Co plans to open a factory near Budapest this year which would be able to produce batteries for 50,000 electric vehicles a year.

Samsung SDI, an affiliate of Samsung Electronics Co Ltd (005930.KS), also produces rechargeable batt,上海仙霞路夜生活Quaid,eries for electronic devices such as smartphones and energy storage systems.

Samsung SDI, which already has a plant in Austria assembling battery packs, has supplied batteries to Volkswagen and BMW.

SK INNOVATION eng.skinnovation.com/main.asp (096770.KS)

South Korea’s SK Innovation plans to break ground this year on a battery plant in Hungary and launch production from 2020, producing 7.5 GWh of batteries per year.

Customers would include Daimler, it said.

SK Innovation started as Korea Oil Corporation and owns South Korea’s largest crude oil refiner. It also has divisions for chemicals, lubricants, batteries and electronic materials.

GSR CAPITAL www.gsrcapital.com/en

Last year, Chinese investment firm GSR Capital bought Nissan Motor Co’s (7201.T) electric vehicle battery business – Automotive Energy Supply Corp – including battery plants in Japan, the U.S. state of Tennessee and England.

The UK plant produces 2 GWh of lithium ion batteries per year for Nissan electric vehicles.

In February, GSR signed a $4.5 billion joint venture deal with Turkey’s Zorlu Holding to build a factory that would launch production in 2023 for batteries for electric vehicles and energy storage systems.

GSR said in March it would invest $500 million in Swedish electric car maker National Electric Vehicle Sweden (NEVS) and planned to start production of EV batteries at NEVS.

GSR Capital Chairman Sonny Wu told the Swedish plant may launch output in mid- to late-2019 and GSR was also looking at elsewhere in Europe for additional battery factories.

GS YUASA www.gs-yuasa.com/en (6674.T)

Japanese battery maker GS Yuasa Corp said in January it would set up a factory in Hungary that would assemble lithium ion batteries and would consider producing cells on the site in the future.

Last year, the Nikkei business daily reported the company would begin mass-producing a new lithium-ion battery that would double the range of electric cars as early as 2020.

LISHEN http://en.lishen.com.cn

Chinese battery maker Tianjin Lishen plans to open a sales office in Germany, its first in Europe, and has held talks with Volkswagen and Daimler, a source at the company said in April.

Lishen’s biggest shareholder is China Electronic Technology Group (CETC), a state-owned firm managed by the central government, according to its website.

SAFT https://www.saftbatteries.com

France’s Saft, owned by energy company Total (TOTF.PA) produces a range of batteries, including for back-up power and industrial applications, but not for electric vehicles.

In February, it created an alliance with Siemans, Solvay (SOLB.BR) and Manz (M5ZG.DE) to develop a new generation of batteries.

The group will focus on advanced high-density lithium-ion and solid-state technology, targeting the market for electric vehicles, railway, marine sectors, among others.

CONTINENTAL https://www.continental-automotive.com (CONG.DE)

German auto parts and tyre maker Continental AG formed a joint venture in March with China’s CITC Ltd to produce so-called “mild” hybrid batteries in China.

Continental also said it was considering making EV batteries using solid-state technology, but for now was holding out for more advances to be made in the field.

($1 = 0.8544 euros)

Clinton camp says FBI should say what it knows about Trump’s Russia…

WASHINGTON/FT. LAUDERDALE, Fla. ( ) – A top aide to Hillary Clinton urged the FBI on Tuesday to disclose what it knows about any ties between Donald Trump and Russia, accusing the agency of unfairly publicizing its inquiry into Clinton’s email prac,上海夜生活怎么玩Hadley,tices while staying quiet about the Republican presidential candidate.

The Federal Bureau of Investigation opened a preliminary inquiry in recent months into allegations that Trump or his associates might have had questionable dealings with Russian people or businesses, but found no evidence to warrant opening a full investigation, according to sources familiar with the matter. The agency has not publicly discus,上海凤楼夜网Paisley,sed the probe.

A week before Election Day, the Clinton campaign was trying to contain damage from the announcement by FBI Director James Comey on Friday that his agency was looking into newly discovered emails that might relate to Clinton’s use of a private server while she was secretary of state.

Clinton has voiced confidence the FBI will not find anything problematic.

She campaigned on Tuesday in the battleground state of Florida, where she was joined in Dade City by former Miss Un,上海夜生活论坛Kaia,iverse Alicia Machado, whom Trump had mocked for gaining weight. Chants of “Lock her up!” from dozens of Trump supporters gathered nearby could be faintly heard while Clinton spoke.

In Ft. Lauderdale, a young man who yelled, “She’s a liar” was escorted out of the rally. Several other protesters removed during the course of her speech.

“I am sick and tired of the negative, dark, divisive, dangerous vision and behavior from people who support Donald T上海夜生活论坛rump,” Clinton said as another protester was removed from the rally.

Trump and other Republicans have seized on Comey’s announcement, which did not indicate any wrongdoing by Clinton, to ratchet up criticism of the Democratic candidate. She leads in most opinion polls ahead of the Nov. 8 election.

Trump urged people on Tuesday who voted early for his Democratic rival to cancel their ballots and switch to him.

“This is a message for any Democratic voters who have already cast their ballots for Hillary Clinton and who are having a bad case of buyer’s remorse, in other words you want to change your vote,” Trump told a Wisconsin rally.

“So if you live here or in Michigan or Pennsylvania or Minnesota, you can change your vote to Donald Trump.”

Several states, including those cited by Trump, have a process to allow voters who cast early ballots to change their votes, either by submitting new ballots or showing up at their polling place on Election Day.


Clinton campaign manager Robby Mook questioned why the FBI director had not released any information about the agency’s Russia inquiries.

“If you’re in the business of releasing information about investigations on presidential candidates, release everything you have on Donald Trump. Release the information on his connections to the Russians,” Mook said on CNN.

The FBI inquiry reviewed allegations that Trump or his associates might have violated the Foreign Corrupt Practices Act or engaged in contacts or commerce with people in Russia who are subject to U.S. or international financial sanctions.

The U.S. government has blamed Russia for cyber attacks on Democratic Party organizations. Democrats criticize Trump for taking what they say is a pro-Russia foreign policy stance.

Russia’s possible role in the campaign again came into focus when online magazine Slate said a group of computer scientists had been alarmed by records showing thousands of apparent connection attempts between an email server operated on behalf of the Trump Organization and computers inside a Russian company, Alfa Bank in Moscow.

Trump campaign spokeswoman Hope Hicks said the server, which had been used to send out hotel marketing material, had been dormant for years.

Prominent U.S. cyber security company FireEye said it had been hired by Alfa Bank to investigate the records and had been granted access to the bank’s systems in Moscow to look for evidence of any relationship with Trump’s company or any signs of hacking or infection. FireEye said so far it had found no emails being sent back and forth or any other link.


Opinion polls showed Clinton’s lead has narrowed slightly since early last week but it was too early to say whether the email controversy was hurting her.

Clinton led businessman Trump in the latest /Ipsos poll of likely voters released on Monday, by 44 percent to 39 percent. Clinton, hoping to be the first woman elected president, strengthened her lead over Trump in polls after the release last month of a 2005 video in which the Republican bragged in vulgar terms about groping women.

But in a dramatic twist, Comey told Congress in a letter on Friday that the FBI was reviewing the newly discovered emails.

Comey had announced in July that the FBI had completed a probe into the email practices, concluding there were no grounds to bring any charges.

Clinton’s team has been pressing the FBI to provide details on the new trove of emails, which Comey said may or may not be significant in the case.

Little is publicly known yet about the emails, other than that they were found during an unrelated probe into former U.S. Representative Anthony Weiner, the estranged husband of top Clinton aide Huma Abedin.

Comey’s letter has provided Republicans with fresh fodder for attack in the waning days of the campaign. U.S. House of Representatives Speaker Paul Ryan said on Tuesday that a Clinton presidency would bog down in “scandal baggage.”

Congressional Republicans, who had been concerned Trump risked damaging their majorities in the House and Senate, were also encouraged by his recent statements on efforts to repeal the Affordable Care Act, popularly known as Obamacare. A campaign aide said if Trump wins, he would ask Congress to begin working on legislation to repeal the law before the Jan. 20 inauguration.

Republican Speaker Ryan re-elected to U.S. House from Wisconsin

WASHINGTON ( ) – Republican Paul Ryan was re-elected to the U.S. House of Representatives by voters in his Wisconsin district on Tuesday, positioning him to reassert his claim to remain speaker of the House, the highest-ranking post in the U.S. Congress.

The 2012 vice presidential nominee, if returned to the speaker’s chair by House members, may have a smaller Republican majority to work with if voters elect fewer Repub,上海夜生活怎么玩Fabiana,licans. Most House races were still undecided.

Like all members of the House, other Republicans were also running for re-election from their home districts, including House Majority Leader Kevin McCarthy of California and House Majority Whip Steve Scalise of Louisiana.

Along with Ryan, they were expected to seek re-election to their leadership上海夜网 posts. Closed-door leadership elections in both parties were expected to take place later in November. A new speaker will be elected by all members of Congress in January.

Ryan, 46, has been speaker sinc,上海足浴夜网联系方式Hal,e October 2015. His re-election to that job is not certain. Some House conservatives have criticized h,上海高端夜生活在那里Dakota,im, and they may have a stronger hand after Tuesday’s voting.

A number of Republican lawmakers were angered in October when Ryan said he would not campaign with or defend Republican presidential nominee Donald Trump, who was in a closely fought race with Democratic presidential nominee Hillary Clinton on Tuesday night.

Phony bank accounts not a ‘systemic’ issue: U.S. regulator

WASHINGTON ( ) – A U.S. ba上海夜生活nk regulator said on Thursday that an industry-wide review prompted by Wells Fargo & Co’s (WFC.N) sales practices scandal had uncovered some instances of phony accounts at other lenders but little evidence of a “systemic” problem.

The Office of the Comptroller of the Currency reviewed more than 40 large and midsize banks after Wells Fargo’s phony accounts scandal first erupted in 2016, wrapping up the process at the end of 2017. The full findings have not been made public.

The OCC said in a statement that it had not identified any “systemic issues” at the other banks mirroring those at Wells Fargo, where bank employees had created potentially millions of unauthorized accounts in customers’ names to meet sales goals.

But the review did uncover “some weaknesses” in internal sales practices, the OCC statement said. In particular, few banks had a centralized approach to risk governance over sales practices before the regulatory review.

The OCC said it had notified banks earlier in 2018 of any particular issues that turned up in the review, and that most banks took “timely actions” to address those weaknesses after they were identified by the regulator.

The OCC also found some instances in which accounts were opened without customer consent. It did not specify how many improper accounts it had found at other banks, but said reasons why the accounts were opened had included sales promotions lacking in risk controls or “isolated” instances of employee misconduct.

There was no evidence that any of the unauthorized accounts found at other banks had been opened by bank employees in o,上海夜哪里艳遇Hallie,rder to meet to sales incentives or quotas, the OCC said.

Those banks have either already addressed any unauthorized accounts or are taking remedial action, including closing the accounts and refunding any improper fees, th,上海夜网官方网站Gabrielle,e OCC said.

A Wells Fargo spokesperson declined to comment,夜上海419龙凤论坛Kai,.

The Trump tightrope: Republicans weigh response with eye toward future

WASHINGTON ( ) – With Donald Trump’s U.S. election prospects dimming and controversy swirling around him, future Republican presidential hopefuls may be weighing whether standing by their man is the savvy move.

Party strategists fear voters fleeing Trump will also fail to support Republican candidates for the U.S. Senate and House of Representatives, possibly costing the party control of Congress.

If Trump loses the Nov. 8 presidential election to Democrat Hillary Clinton, his polarizing candidacy may reverberate well past 2016, tarring future Republican White House hopefuls, potentially including House Speaker Paul Ryan, U.S. Senator Marco Rubio and Indiana Governor Mike Pence, Trump’s vice presidential running mate.

Trump was struggling in opinion polls before a 2005 video released last week showed him talking in sexually aggressive terms about seducing women. Afterward came stories in several news outlets alleging Trump had inappropriately touched women.

Trump has angrily ,上海夜网Fabiana,denounced the stories, the media and Republicans who have declined to support him.

“The brand has already been irrevocably damaged. There’s nothing we can do in the short term,” said Doug Heye, a former top official with the Republican National Committee. Looking to the 2018 U.S. congressional election and the 2020 presidential election, Heye said: “In two to four years, the stain on our party’s soul won’t be washed away.”

To be sure, a Trump loss is no guarantee the Republicans would suffer for long. Four years after Barry Goldwater’s massive loss in 1964, Richard Nixon staged a Republican comeback. The conservative Heritage Foundation think thank has said Goldwater launched a shift to the right that would end half a century of liberal dominance in American politics.


For Republicans weighing a run for president in four years, deciding whether to back Trump may be a defining moment equal to what politicians faced in 2002 when they decided whether to back Republican President George Bush’s Iraq invasion. By 2006, public sentiment had turned harshly against the Iraq war, some Republican politicians lost their jobs, and Democrats seized both the House and Senate.

Republican presidential hopefuls of the future may be asking,上海夜网推油Gabriel,: How can I be loyal and stand by Trump while at the same time expand the party’s base to include sectors the candidate has alienated?

More broadly, they may ask: What’s the right side of history?

Trump’s candidacy has attracted passionate support from a core group of voters but also driven away some moderates and independents. Republicans such as Heye fear Trump, who already has alienated large populations of Hispanic voters because of his hard line on immigration, will cost the party a generation of women voters as well.

Ryan, Rubio and Pence all have, to some degree, sought to distance themselves from Trump. Ryan this week told colleagues he would no longer publicly defend Trump, in essence washing his hands of him. Rubio, who ran against Trump in the Republican primary and is fighting for re-election in his home state of Florida, has criti上海夜生活cized Trump’s remarks about women, but has not withdrawn his support.

Pence is routinely forced to answer for his running mate’s conduct, but managed at last week’s vice presidential debate to outline policy differences with him.

If Trump leads the party to crushing defeat next month, he may for years haunt Republican office-holders who supported him.

“I predict a chaotic round of finger pointing after the election, as people try to justify their position,” said Jim Manley, a former top aide to Senate Minority Leader Harry Reid who witnessed the Democratic wave in 2006 first-hand.

Democrats are trying to link vulnerable Senate candidates to Trump at every turn. On Thursday, the advocacy group American Bridge highlighted Trump’s praise of Rubio on local Florida television, even as Rubio has avoided appearing at any Trump events in the state. Clinton on Twitter this week noted that Ryan has not recanted his endorsement of Trump.


Strategists say Pence would have the hardest time emerging from Trump’s shadow. “I think for Pence, it’s really tough,” said Republican operative Liz Mair.

Pence excited some conservative voters with his debate performance. A Politico/Morning Consult poll taken afterward showed him as the top choice for 2020 among Republicans, at 22 percent. Ryan, Texas Senator Ted Cruz and Rubio followed.

Cruz, who was Trump’s leading rival for the 2016 Republican nomination, illustrated the perils of trying to respond to Trump’s candidacy. After holding out, Cruz endorsed Trump last month, just before the candidate went into a public-opinion tailspin.

Cruz and Rubio, as well as Ryan, have come under fire from some Republicans for appearing to waver on Trump, at times standing by him and at other times criticizing him.

“People that waffle are going to have more trouble than people who pick a side,” said Brian Bartlett, a Republican strategist who worked for Mitt Romney’s 2012 presidential campaign.

He said Ohio Governor John Kasich, another presidential candidate who consistently refused to endorse Trump, may emerge in the strongest position of all. Other potential 2020 contenders, such as South Carolina Governor Nikki Haley, may benefit from not being on the ballot this year, thus being spared from being asked constantly about Trump while campaigning.

But that assumes the anti-Trump forces in the party hold sway after the election. There will still be a significant chunk of the party who will view Trump’s critics as disloyal, Bartlett warned, which may put some establishment politicians on the spot to explain why th,上海高端夜生活在那里Sabina,ey did not do more to support the nominee.

Exxon shareholders reject proposal to split CEO, chair roles

DALLAS ( ) – Exxon Mobil Corp shareholders rejected a proposal on Wednesday that would have split the roles of chairman and chief executive, securing CEO Darren Woods’s role as he looks to improve results at the world’s largest publicly traded oil producer.

Woods, who became chairman and CEO in January 2017, has struggled to recover from failed bets taken by his predecessor Rex Tillerson, the former U.S. secretary of state, that resulted in billions of dollars in write-downs and a stock price that has lagged peers.

Exxon under Woods has moved aggressively to launch major expansion programs to find and produce new reserves of oil and natural gas, as well as expand the company’s refining and chemical footprint.

Woods in March told Wall Street investors that the expansions should help double Exxon’s earnings by 2025 to about $31 billion.

Still, Exxon’s first-quarter earnings fell short of expectations as weakness in its chemical and refining operations offset a boost from higher crude prices.

By voting to keep the roles combined, shareholders effectively gave support to Woods to lead the board and employees as they jointly try to meet those goals.

“No one in our industry can match our opportunity set today,” Woods told fellow shareholders at the company’s annual meeting in Dallas.

Shares of Exxon rose 3.4 percent to $81.1,夜上海419龙凤论坛Dallas,3 on Wednesday after an analyst upgraded the company’s stock, saying its low valuation relative to peers presented a buying opportunity.


Woods vowed that he would continue to work to address climate change, especially through biofuels research.


But outside the Dallas meeting, about 30 people gathered to protest what they said was Exxon’s lack of accountability for its impact on global climate change.

There were no climate-related proposals for Exxon’s shareholders to consider at this year’s meeting after one was approved last year requiring an annual carbon report. Protesters on Wednesday said they were biding their time this year.

“There’s not a lot of optimism they’ll (Exxon executives) will make good on it, but if they don’t, we’ll be back next year with an even stronger shareholder proposal,” s,上海新夜网龙凤Barrett,aid Molly Rooke, a former Exxon employee who now volunteers with the environmental group 350.org.

Rooke’s fellow protesters held a bevy of signs outside the meeting emblazoned with such slogans a,上海夜网官方网站Jackson,s “Exxon Mobil, Climate Criminal” and “Arrest Exxon.”

Shareholders also rejected a proposal that would have forced Exxon to provide greater disclosure on its lobbying expenditures and change its bylaws to how special meetings are called.

Shareholders approved a full slate of 10 nominees to the company’s board of directors.

Allies in G7 vow to fight U.S. tariffs, see threat to growth

WHISTLER, British Columbia ( ) – The上海夜网 United States’ allies in the G7 vowed on Thursday to push back against Washington’s decision to impose tariffs on their steel and aluminum exports, saying as they gathered for a meeting that the move threatens global growth.

The escalating trade conflict between the United States and many key allies will dominate the three-day meeting in Canada of financial leaders from the Group of Seven industrialized nations that began on Thursday, with U.S. Treasury Secretary Steven Mnuchin the top target for their complaints and lobbying.

The United States on Thursday said it was moving ahead to impose tariffs of 25 percent on steel imports and 10 percent on aluminum, starting at midnight (0400 GMT on Friday), ending months of uncertainty about potential exemptions and sending a chill through financial markets.

French Finance Minister Bruno Le Maire demanded a “permanent and total exemption” from the tariffs and said that European Union countries would respond with their own measures.

The U.S. tariff decision “is unjustified and unjustifiable and will have dangerous consequences for global growth,” Le Maire said in comments to media on his way to the meeting of policymakers from the United States, Britain, Germany, France, Italy, Japan and Canada in the mountain resort of Whistler, British Columbia.

His German counterpart, Olaf Scholz, said EU member states would show their unity and sovereignty by acting in a determined way. “Our response should be clear, strong and smart,” Scholz told .

Canadian Fin,上海足浴夜网联系方式Tabitha,ance Minister Bill Morneau said the tariffs would color the G7 meeting.

“There will be some challenging discussions I’m sure,” Morneau told a news conference as top policymakers gathered. “We are not saying there won’t be frictions,” he added. “We’re not saying we won’t have strong words. We’re not saying we won’t be able to send messages.”


Mnuchin, who was not at the introductory discussion panels focused on development and sharing the benefits of global growth, is scheduled to meet individually with many of his global counterparts during the three-day meeting.

Bank of England Governor M,上海021夜网Idaia,ark Carney said the U.S. decision to target trade in goods, not services, was misplaced.

“This focus on goods trade, bilateral goods is not the right focus in a hyperconnected world where most of the economic activity, most people work, most small businesses, most women work in the service sector,” Carney told a panel.

“If we were to liberalize services to the same degree as we have liberalized (trade in) goods, these balances would be cut in half for the United States and for the UK,” Carney added.

Related CoverageJapan joins U.S. allies in attacking Trump’s tariff decisionBOJ’s Kuroda calls for ‘rational’ G7 debate on tradeSee more stories

International Monetary Fund Managing Director Christine Lagarde said if trade is “massively disrupted,” the level of public trust in leaders will be severely damaged.

“First of all, those who will suffer most are the poorest, the less privileged people, those w,上海夜网推油Tallulah,ho actually rely on imported goods to have their living,” she said, adding that longstanding supply chains also would be disrupted.

The U.S. actions on trade policy, which also include potential tariffs and investment restrictions on China and a national security probe that could lead to tariffs on auto imports, are expected to also dominate the G7 summit of world leaders in Quebec next week.

Britain could sell 10 percent stake in RBS as soon as this week:…

LONDON ( ) – Britain could sell a 10 percent stake in Royal Bank of Scotland (RBS.L) as soon as this week, Sky News reported on Monday,上海夜生活网交流Sabine,, citing banking sources.

The British government still holds a 71 percent stake in the bank after stepping in with a taxpayer bailout durin,上海新夜网龙凤Babette,g the financial crisis.

Sky reported that bankers expected Britain to announce the disposal of a stake worth at least 3 billion pounds ($4 billion), but added that any share sale could be delayed by market conditions or ministers’ concerns about value for money for taxpayers.

At Friday’s closing share price of just under 290 pence, little more than half the 502 pence the g上海夜生活论坛overnment paid for them, the Treasury stands to lose billions of pounds on the sale.

The British government pumped 45.5 billion pounds into RBS in the depths of the financial crisis, and efforts since then to recoup the money have been stymied by the plunge in the bank’s share price, regulatory probes in the United States and Brexit.

In particular, a long-running investigation by the U.S. Department of Justice into the bank’s mis-selling of toxic mortgage-backed securities delayed the share sale.

But RBS agreed a smaller than expected $4.9 billion settlement earlier this month, paving the way for a long-awaited return of cash to UK taxpayers.

Britain said in November it would sell 15 billion pounds of RBS shares over five years, with 3 billion pounds to be sold by the end of the 2018-2019 fiscal year.

“We don’t comment on m,上海足浴夜网联系方式Sabina,arket speculation,” a spokesman for the finance ministry said. A spokesman for RBS declined to comment on the report

Both RBS and Lloyds were rescued during the 2007-9 financial crisis. Britain sold its remaining stake in Lloyds last year.

As Trump talks of trade losses, China is a win for U.S. East Coast…

CHARLESTON, S.C. ( ) – For America’s fastest growing East Coast ports, trade with China equals billions of dollars of investment and thousands of well-paid jobs in the heart of Trump country and not, as the president portrays it, the death knell for America’s middle class.

At Atlantic ports in the southern United States, harbor channels are being deepened to handle bigger ships moving through a widened Panama Canal; cranes are being heightened to unpack the larger stacks of containers; new ship berths and expanded rail hubs are opening the door wider for the imported goods demanded by American consumers and businesses.

Exports are on the rise too, and could be boosted if President Donald Trump strikes deals to export tens of billions of dollars in commodities and energy to China in an effort to cut America’s $375 billion trade deficit with the world’s second largest economy.

“China is where the growth is,” said South Carolina Ports Authority chief executive Jim Newsome. “I don’t think the world can function without free trade … The global supply chain is based on trade and I don’t think you can walk that back.”

Interviews with officials at key southeastern ports as well as federal employment data illustrate a piece of the U.S. trade puzzle often lost in the back and forth among national policymakers amid talk of tariffs and import restrictions.

Concern over a trade war flared anew this week as Washington said it still held the threat of imposing tariffs on $50 billion of imports from China unless Beijing addressed theft of American intellectual property, and China responded that it was ready to fight back.

One reason for China’s success in winning market share in the United States has been investment by American port operators to ensure that goods get to U.S. stores with relative speed and without losing their cost advantage.

Charleston, for example, touts a 29-day window for getting goods from Shanghai to Atlanta. Research published last year by the Federal Reserve Bank of Minneapolis found that for many goods the journey from China to the United States adds as little as 3 percent to the wholesale cost.

Along with other south Atlantic ports like Savannah, Georgia, and Jacksonville, Florida, officials in Charleston spent years planning for that future and along the way created thousands of the sort of blue-collar middle-wage jobs that Trump’s election campaign pledged to expand.

“It is an issue that has been glossed over – the importance of these hubs…Absolutely the investments have been critical to the trade with China,” said Michigan State University economist Oren Ziv, who is in the initial stages of research on how port investments affect local economies.


China’s rise as a global manufacturing center, as Trump often notes, displaced many manufacturing jobs in the United States, particularly producing lower-value goods like furniture.

One influential and widely cited study by economists David Autor, David Dorn and Gordon Hanson estimated that the “China shock” caused the loss of 2.4 million manufacturing jobs in the United States between 1999 and 2011. Other studies have disputed this, saying the numbers were much lower, and that trends like automation by successful manufacturers played an outsized role.

But whatever the impact, t,上海夜生活男人好去处Ida,he flood of imports has required more labor to move those goods around the country.

Nationally, jobs in transportation and “material moving” increased by 1.2 million between 2012 and 2017, according to federal data. That included more than 190,000 additional truck drivers with a median wage of $20 an hour, roughly 13 percent above the national median.

That set of occupations accounted for about 10 percent of the country’s overall increase in jobs during the period, behind only generally lower paying positions in food service and personal care.

The port in Savannah, the country’s fourth busiest container dock, now pushes 11,000 container loads of goods a day through its gates – 7 million microwave ovens worth of cargo space, about triple what was handled as of 2003.

The groundwork was laid when officials offered incentives for companies like Home Depot (HD.N) and others to build distribution centers on land owned by the port authority.

That has now burgeoned into 56 million square feet (5.2 million square meters) of warehouse space around the port, filled as fast as it can be built.

The vacancy rate in early 2018 was 0.52 percent according to Colliers International data supplied by Savannah Port officials.

A new rail hub designed to accommodate longer trains, along with $2 billion in dredging and other investments planned for the next decade will allow the port to compete for shipments of goods intended for destinations as far away as Chicago, said Georgia Ports Authority chief operating officer Ed McCart,上海夜生活群Sabrina,hy.


Jacksonville is also deepening its channel, having in recent years switched its business model from north-south trade with Puerto Rico as the anchor destination, to a focus on China.

In Charleston, container traffic has been growing on average 8 percent a year since the end of the 2007-2009 recession as trade flows reoriented from Europe to Asia.

A $560-million dredging project, split between the state and federal governments, will deepen the harbor from 45 to 52 feet (13.7 to 15.8 meters) and allow ships carrying up to 18,000 20-foot (6-meter) containers to unload; the current largest is 14,000 containers.

A new $1.5 billion terminal currently under construction will add the ability to handle an additional 700,000 containers a year when it opens in 2021, with further expansion planned.

To be sure, the benefits move in both directions.

Charleston, for e,上海夜生活服务Kailani,xample, ships about 上海夜生活$2 billion worth of vehicles a year to China, aiding the rise of BMW’s (BMWG.DE) plant in Spartanburg, South Carolina, as a source of high-end vehicles for the Chinese market. The Spartanburg plant is the single largest exporter of vehicles in the United States.

Likewise, if the Trump administration does manage to boost exports to China of agricultural goods and natural gas, the bigger ships and bigger harbors will have more outbound cargo.

The three ports are not major grain shippers like New Orleans or the Pacific Northwest, but exports of oil seeds, meat and wood pulp have been growing. They now account for about a quarter of U.S. wood pulp exports to China, and Charleston’s exports of meat grew tenfold to $107 million from 2003 to 2017.

But even if the boost in exports to China never happens, the dredging and expansion will continue, despite the trade debate raging in Washington.

“Why don’t we think this is an issue? We continue to grow,” said McCarthy of the Georgia Ports Authority.

“We have a terminal (Savannah) that can handle 5.5 million (containers). The design over the next 10 years is to handle 8 million and we are going to stay true to that.”

To view a graphic on Ports expansion capturing more Chinese trade, click: tmsnrt.rs/2L82eJA

Advent plans conversion, not expansion of Walmart’s Brazil ops

SAO PAULO ( ) – Advent International, the buyout firm acquiring 80 percent of Walmart Inc’s (WMT.N) Brazilian operations, plans to invest in converting store formats instead of opening new ones, an executive said on Tuesday.

Walmart, the world’s biggest retailer, announced on Monday it sold an 80 percent stake in its Brazilian operations to Advent, partially exiting an underperforming business and taking a non-cash charge of roughly $4.5 billion.

Patrice Etlin, a managing partner at A,上海仙霞路夜生活Tamara,dvent International in Brazil, said at an industry event in Sao Paulo that the firm would invest “billions of reais” over the next two years in the operations and expects to convert unprofitable hypermarkets into cash-and-carry wholesale stores.

Advent plans to expand brands developed by Walmart in Brazil such as Maxxi, used in cash-and-,上海夜生活论坛Macey,carry stores, and T,上海夜生活男人好去处Gabrielle,odo Dia, of small-scale supermarkets, along with the membership-only retail chain Sam’s Club, Etlin said. Advent’s partner said hypermarkets face the most challenging scenario.

Under the terms of the agreement, Advent will pay Walmart royalties just for the use of its global brands. The buy上海夜网out firm said it has yet to decide which of the almost dozen regional brands acquired by Walmart in Brazil over the last 20 years will be kept.