Here is what you need to know.
China is reportedly planning to slash import tariffs as soon as next month. Beijing is planning to cut the average tariff rate on imports from most of its trading partners as soon as next month, Bloomberg says.
Argentina’s GDP craters in the 2nd quarter as an economic crisis grips the country. Argentina’s gross domestic product fell 4.2% year-over-year in the second quarter after a severe drought roiled agricultural production and as the country works with the International Monetary Fund to stem a spiraling economic crisis.
Jack Ma says Trump’s trade war with China will wreck Alibaba’s plans to help create 1 million US jobs. “The promise was made on the premise of friendly US-China partnership and rational trade relations,” Ma told the Chinese state-run news outlet Xinhua. “That premise no longer exists today, so our promise cannot be fulfilled.”
Japan had its 2nd major bitcoin heist of the year.Hackers stole 6.7 billion yen ($US60 million) in bitcoin and two other cryptocurrencies from the Japanese digital exchange Zaif on September 14, the company said Thursday.
Canadian cannabis producer Tilray had a wild day after its CEO appeared on ‘Mad Money.’ Shares soared as much as 93% – before being halted at least five times and finishing up 38% – Wednesday after CEO Brendan Kennedy laid out his company’s growth prospects to the CNBC host Jim Cramer on “Mad Money.”
Aston Martin is seeking a $US6.7 billion valuation for its IPO. The British maker of luxury cars has set a price range of 7.50 pounds to 22.50 pounds, or about $US10 to $US30, for its October initial public offering, Reuters says.
India’s richest man’s plan to revolutionise the country’s telecom industry with cheap data seems to be working. Two years ago, Reliance Industries’ chairman, Mukesh Ambani, developed a plan to bring cheap data to India, and on Wednesday the latest figures released by the Telecom Regulatory Authority of India showed his Reliance Jio unit added 1.79 million subscribers in July, 10 times as much as all rivals combined.
Stock markets around the world are higher. Hong Kong’s Hang Seng (+0.26%) led the gains in Asia, and France’s CAC (+0.64%) is out front in Europe. The S&P 500 is set to open little changed near 2,911.
Earnings reporting is light. Darden Restaurants reports ahead of the opening bell, and Micron Technology releases its quarterly results after markets close.
US economic data keeps coming. The Philly Fed and initial claims are set for release at 8:30 a.m. ET before existing-home sales cross the wires at 10 a.m. ET. The US 10-year yield is up 1 basis point at 3.07%.
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