Markets
China's CPI up 2.8 pct in July
The reading beat market expectations of 2.7 percent. On a month-on-month basis, the PPI dropped 0.2 percent last month, narrowing from the 0.3-percent drop recorded in June, according to the NBS. The CPI in urban and rural areas registered a year-on-year growth of 2.7 percent and 2.9 percent, respectively. Consumer prices in China were up 2.8 percent on year in July, the National Bureau of Sta... [Full Article...]
China Decries US Ban on Chinese Firms As 'Abuse of State Power'
The offshore yuan was stable versus the dollar even after China's central bank set the yuan's daily midpoint at 7.0136 per dollar, its weakest level since April 2, 2008. Spot gold held near the more than six-year peak touched Wednesday, with rising 0.3% to $1,505.20 an ounce as investors sought the safety of the precious metal. [Full Article...]
Asian stocks follow Wall Street lower as trade war worsens
The U.S. labeling is an arbitrary unilateral and protectionist practice, which seriously damages worldwide rules and will significantly impact the global economy and financial markets, it said. Tradingd 300 to 500 Points in Early Trading, With the Indicees 25,689. China's Shanghai Composite Index ended down 0.3%, marking a sixth consecutive day of declines. [Full Article...]
US Calls China "Thuggish Regime" For Singling Out Diplomat In Hong Kong
Last week, US President Donald Trump described the protests in Hong Kong as "riots", borrowing the same terminology used by Beijing. "Canadians in Hong Kong should monitor local media for information and advice on upcoming demonstrations, avoid areas where demonstrations and large gatherings are taking place, and follow the instructions of local authorities". [Full Article...]
Billionaire alleges that Epstein misappropriated 'vast sums ... from me and my family'
In a letter to the members of his Wexner Foundation on Wednesday obtained by CNBC , Wexner explained that Epstein misappropriated more than $46 million from him and his family. It was through Wexner that Epstein acquired his seven-story Manhattan mansion near Central Park. Les Wexner, the billionaire retail mogul who created Limited Brands, had remained largely silent in recent weeks, even as ... [Full Article...]
Arizona iced tea maker turns to weed market
The New York-based company said it reached a licensing deal with cannabis company Dixie Brands Inc . in a move that would provide growth opportunities for marijuana-infused drinks . While Arizona is best known for its iced tea, its push into the pot world will reportedly start with vape pens and gummies, but it could expand to include drinks like lemonade, soda, coffee, seltzer, and yes, iced ... [Full Article...]
Barneys New York on the brink after filing for bankruptcy
The $ 75 million gained in the deal will help keep the remaining stores open, including Barneys famous Madison Avenue location in New York City, as well as pay for its financial commitments to vendors. Barneys quickly became an icon in the high fashion world for both men and women in the 1970s. It went bankrupt once before in 1996, after a falling out with a Japanese partner. [Full Article...]
Richland Mall Sears To Close Its Doors In October
Sears parent company Transform Co is planning to close 26 Sears and Kmart stores in October, with liquidation sales starting on August 15, AL.com reports. Sears is moving forward on a strategy it believes will revitalize its brand. The apparel-free, smaller-sized format (the footprint ranges from 10,000 sq. [Full Article...]