Markets
China Strikes Back: Imposes Tariffs on $75 Billion of U.S. Goods
China's finance ministry called the new tariffs "a forced move to deal with US unilateralism and trade protectionism". The tariff is a retaliation after President Trump revealed plans for a 10% tax on $300bn of goods from China. Stock futures indicated stocks would decline when markets opened. President Donald Trump said this month he would slap tariffs on all remaining imports from China on... [Full Article...]
Fed will remain flexible, rates not on preset course: minutes
Most European bonds fell as a gauge of German manufacturers reinforced recession concerns and European Central Bank minutes showed officials were anxious that investors would lose faith in their ability to revive inflation. MCX Silver was down 0.25 per cent at Rs 43,785 per 1 kg. The Japanese yen gained 0.1% to 106.54 per dollar. After the Fed cut the benchmark interest rate for the first ti... [Full Article...]
Apple, Google, and Mozilla taking steps to block Kazakhstan's surveillance system
Apple , Google and Mozilla have joined forces to stop the Kazakh government from creating an internet surveillance system that uses their respective web browsers. Google and Mozilla have announced new efforts to specifically combat plans by the government of Kazakhstan to get its citizens to install a security certificate that could give it greater powers over what people look at online. [Full Article...]
Eurozone business activity picks up in August but still muted
Economists had forecast the index to drop to 50.6. "The decline in the headline PMI mainly reflected a much weaker contribution from new orders", the release said. "Survey respondents commented on a headwind from subdued corporate spending as softer growth expectations at home and internationally encouraged tighter budget setting". [Full Article...]
[Funding alert] Fintech startup Tala raises $110M in Series D round
![[Funding alert] Fintech startup Tala raises $110M in Series D round](https://impactalpha.com/wp-content/uploads/2019/08/ShivaniSiroyaTechCrunchDisruptNY2017wSzLzHyyyLGl.jpg)
The company said the funding will fuel its expansion in India, support the launch of new products centered on financial health, and help Tala grow its team across all its offices, including its Bengaluru engineering hub. According to Tala, it has tripled its core credit businesses in the last one year by lending more than $1bn to around four million customers. The intelligence arrived after mi... [Full Article...]
Fed minutes: Officials were divided on rate cut
Most European bonds fell as a gauge of German manufacturers reinforced recession concerns and European Central Bank minutes showed officials were anxious that investors would lose faith in their ability to revive inflation. The kiwi is the other currency which is holding more firm on the day and that owes to less dovish remarks by RBNZ governor Orr earlier in Asia Pacific trading. [Full Article...]
Asian stocks lower after US indexes tumble on recession fear
History shows that a recession has followed every time that the values of a two-year yield and a 10-year yield invert. The inversion, where 2-year yields trade higher than 10-year yields, is considered by some analysts to be a sign that the United States economy is likely to enter a recession. [Full Article...]
Virginians can expect lower gas prices this fall, AAA says
However, low gas prices are no guarantee. You can start to expect lower gas prices with the end of summer nearing. The main reason for the cheaper gas is because crude oil prices are dropping. Part of the year-to-year deficit stems from the pending closure of Philadelphia Energy Solutions, the largest refinery on the East Coast. As of Monday, August 19, the average gas price in Virginia wa... [Full Article...]