China August industrial output grows at slowest pace since 2002

BEIJING (REUTERS) – China’s industrial production growth skidded to its weakest pace in 17½ years in August, expanding just 4.4 per cent year-on-year, signalling further weakness in an economy hit by the trade war and slowing demand. Analysts polled by Reuters had forecast industrial output would rise 5.2 per cent from a year earlier, a slight rebound from the 17-year […]

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German factory orders sink in July, raising risk of recession

FRANKFURT (BLOOMBERG) – German factory orders fell in July, aggravating an industrial slump that has pushed Europe’s largest economy to the brink of recession. Demand fell 2.7 per cent from June, when it rose at the same pace, as orders from outside the euro region plunged. The economy ministry said “in light of ongoing international trade conflicts and modest business […]

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Details emerge on which military projects are losing their funding to Trump wall construction

WASHINGTON (AP) — President Donald Trump’s move to kill or delay hundreds of construction projects on U.S. military bases to fund about 175 miles of fencing along the U.S.-Mexico border is stoking the ire of Capitol Hill Democrats, who promise they won’t replace the money needed to revive the projects. Some are even vowing to try to use an upcoming […]

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U.S. Manufacturing Slowed in August in Latest Sign of Economic Weakness

The American manufacturing sector contracted last month, a key measure showed on Tuesday, heightening fears that the trade war with China could bring on a recession. Manufacturing accounts for just 11 percent of the country’s gross domestic product, but it is often seen as a harbinger of what lies ahead for the economy. Stocks fell on Wall Street after the […]

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Satellite photos suggest Iranian rocket exploded at launch pad

DUBAI, United Arab Emirates — A rocket at an Iranian space center that was to conduct a satellite launch criticized by the U.S. apparently exploded on its launch pad Thursday, satellite images show, suggesting the Islamic Republic suffered its third failed launch this year alone. While Iranian state media did not acknowledge the incident at the Imam Khomeini Space Center […]

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U.S. Durable Goods Orders Jump Amid Continued Rebound In Aircraft Demand

Reflecting a continued spike in orders for transportation equipment, the Commerce Department released a report on Monday showing new orders for U.S. durable goods jumped much more than expected in the month of July. The report said durable goods orders surged up by 2.1 percent in July following a downwardly revised 1.8 percent increase in June. Economists had expected orders […]

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Japan manufacturers turn pessimistic for first time since 2013: Reuters Tankan

TOKYO (REUTERS) – Japanese manufacturers turned pessimistic about business prospects for the first time in more than six years in August as the spectre of a global downturn looms large amid the escalating US-China trade war, the monthly Reuters Tankan survey showed on Monday (Aug 19). Concerns about weakening global demand intensified last week after a closely watched bond market […]

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BMW profits drop on higher costs, spending for new tech

FRANKFURT, Germany (AP) — Luxury automaker BMW BMW, +1.30%  saw net profit fall 29% to 1.48 billion euros ($1.63 billion) in the second quarter from a year earlier as profits were reduced by higher spending on revamping factories and on new technologies such as battery-only cars and smartphone-based services. The company said Thursday vehicle sales and revenue increased in the […]

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