In China electric vehicles are subsidized, but only those produced with batteries made by companies on a specially approved list of manufacturers. Only one country is home to all 57 manufacturers on the list, China. So while foreign batteries aren't illegal in Chinese electric vehicles, they are made completely noncompetitive because their Chinese competition is subsidized. Trefor Moss reports: SUZHOU, China—Batteries have emerged as a critical front in China’s campaign to be the global leader in electric vehicles, but foreign auto makers and experts say it is rigging the market to favor … [Read more...]
How to Attract Amazon’s HQ2
If you’re a small business owner, then you probably can’t relate to the full court press from what seems like all of New England—and the rest of America for that matter—hoping to lure Amazon CEO Jeff Bezos to choose their city or state for its second headquarters. You might be saying to yourself “no one put on a press conference to have me move to start a business.” Which is why I like the approach New Hampshire is taking. Yes, it wants Bezos. But it doesn’t have to fund HQ2 with tax breaks residents end up paying. “Everyone else is still trying to play catchup to this tax incentive we … [Read more...]
Currency Traders Don’t Like New Zealand’s New Government
A coalition led by the Labour Party in New Zealand has taken control of the government, and currency traders are punishing the country by selling off the New Zealand dollar. James Glynn writes: Despite finishing second in an inconclusive general election, 37-year-old Labour leader Jacinda Ardern emerged victorious after smaller parties agreed Thursday to form a government. The coalition ends nearly a decade of conservative rule that helped propel the island economy to one of the fastest growth rates in the developed world. The uncertainty created by the prospect of a switch in policies and … [Read more...]
Wal-Mart Goes Up-Market on the Internet
Wal-Mart's head of U.S. e-commerce, Marc Lore is leading an assault on internet shopping for the traditionally brick and mortar retailer. Wal-Mart is working with up-market department store Lord & Taylor (owned by Hudson's Bay Co.) to add the retailer's website to WalMart.com. Suzanne Kapner and Sarah Nassauer explain that the plan is to make the website an internet mall featuring higher-end brands. They continue: Additional brands that eventually could be included in the project include men’s clothing company Bonobos and online retailer Jet.com, both of which are owned by Wal-Mart, as … [Read more...]
Welcome to Hôtel de Crillon: You’ve Arrived
You know you’ve arrived, literally and figuratively, the minute you see Place de la Concorde up on your left and Hôtel de Crillon on your right. As your driver pulls up you are surrounded by regally dressed staff, guiding you to the historic facade as if it’s your movie being premiered. Welcome to the mansion built for Louis XV, and, since July 2017 after a four-year renovation, for you too. The minute you walk inside Hôtel de Crillon you know how Louis XV must have felt. The entrance is unlike that of any hotel I’ve ever been in—it feels like a mansion—there’s no lobby. There’s no check-in … [Read more...]
The Bears have Punched Themselves Out
You are investing through what has become the third longest bull market in history. Over recent months it has also been one of the calmest markets on record. The first chart in this post by James Mackintosh shows the percentage of newsletter writers who are bullish versus those who are bearish. Bull-bear sentiment is often used as a contrary indicator. The greater the percentage of bulls, the greater the likelihood the market will fall is the thinking. After more than eight years of a relentless bull market, most of the bears seem to have punched themselves out. … [Read more...]
Will NAFTA Negotiations Help or Hurt?
Negotiators are looking for a "win-win-win" outcome, but they're also talking about the collapse of the trade pact. Will negotiations over NAFTA have a positive or negative effect on business in America? Jacob M. Schlesinger writes: Donald Trump’s presidency has so far been largely good for big business and investors, with deregulation in train, hopes for corporate tax cuts, and stocks hitting records. But the risk of a serious jolt now looms: the potential end of the North American Free Trade Agreement, which has governed continental commerce for a quarter-century. Because the likelihood … [Read more...]
Economic Freedom: Where does USA Rank?
You may be surprised at how far you need to scan your finger down the list to locate the United States in the Economic Freedom of the World: 2017 Annual Report co-published by the Cato Institute, the Fraser Institute in Canada and more that 70 think tanks around the world. The United States, which has held a spot in the top ten for decades, now ranks 11th. Going back to the period 1980-2000, the U.S. was an economic beast, generally ranked 3rd freest economy in the world behind Hong Kong and Singapore. And then came the decline. After the U.S. ranked 2nd in 2000 it’s been mostly downhill … [Read more...]
Is it Time to Worry about a Stock Market Crash?
Tomorrow marks the 30-year anniversary of the 1987 stock market crash when U.S. shares plunged over 20% in a single day. The 1987 crash was blamed on a new innovation in financial markets at the time—portfolio insurance. Since the crash, controls have been put in place to prevent sharp one-day declines in markets, but risks remain. Volatility strategies that have been adopted by many investors have characteristics similar to those of portfolio insurance and market structure has shifted. Index-based ETFs that are bought and sold by investors with little regard for the value of the underlying … [Read more...]
Can Grocers Cut Out the Milk Middlemen?
Grocers like Kroger are moving to expand their private label business. Now Kroger is leading a new trend for grocers, bottling their own milk. The move could harm Dean Foods and other milk producers who have traditionally supplied the grocers. Heather Haddin and Benjamin Parkin report: Milk is a low-margin commodity, susceptible to price swings. Americans are drinking less of it, even as demand rises for cheese, butter and other dairy products. But grocery executives say ensuring for themselves a steady supply of what remains one the most frequently purchased items in their stores is worth … [Read more...]
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