Tag Archives: U.S.

How China plans to beat the U.S. at technology

Jack Ma: ‘It’s not made in China, it’s made on the internet’ President Trump has made technology a key battleground in U.S. relations with China. He launched an investigation into alleged Chinese theft of U.S. intellectual property earlier this year. But some experts say a bigger concern is Beijing’s huge bets on the technologies of the future. The Chinese government is throwing its weight behind sectors like artificial intelligence, electric cars and computer chips, pumping in money to create tech champions with global clout. Related: China wants to build a ...

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China, Goldman Sachs to invest $5 billion in U.S. manufacturing

4.1% unemployment, lowest in 17 years Here’s a Wall Street alliance with China that is sure to make President Trump smile. China’s richest sovereign wealth fund is teaming up with Goldman Sachs to invest at least $ 5 billion in mostly U.S. manufacturing, a person familiar with the matter told CNNMoney. Trump has vowed to rejuvenate America’s manufacturing industry, a promise that propelled him to win the White House amid strong support from the Rust Belt. China Investment Corp., better known as CIC, asked Goldman Sachs(GS) to partner with it ...

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Amazon second headquarters bid spans U.S., Mexico border

NYC went orange in a bid for Amazon’s next headquarters Amazon’s proposal deadline for cities to host its second headquarters has passed, but a newly announced pitch has surfaced an innovative concept: a campus that spans three cities and two countries. In fact, a proposal out of New Mexico offers a facility that spans three cities and two countries. The bi-national campus would include El Paso, Texas; Juarez, Mexico; and Las Cruces, New Mexico. The joint proposal comes from two New Mexico-based nonprofits: the Mesilla Valley Economic Development Alliance (MVEDA) ...

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China to overtake the U.S. as largest market for air travel

Boeing vs. Airbus: The middle of the market battle China is going to surpass the U.S. as the world’s largest air travel market in the next five years — sooner than expected. In its annual forecast, the International Air Transport Association shifted its expectations about the center of gravity of world air travel eastward, away from the U.S. and Europe. The global airline industry group anticipates that 7.8 billion passengers will travel by air by 2036. That’s nearly double the 4 billion it anticipates will fly this year. The IATA ...

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Cutting U.S. corporate taxes could mean a windfall for foreign investors

Does the U.S. have the highest corporate tax rate? Republicans are selling a corporate tax cut as a way to help the middle class and make American businesses more competitive. But a new analysis published in Tax Notes asserts that lowering the corporate rate could also be a windfall for foreign investors. The analysis, done by Tax Policy Center senior fellow Steve Rosenthal, assumed the current top corporate rate would be cut to 20%. That is the proposed change outlined by President Trump and key congressional Republicans. Of the estimated ...

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Tax reform, North Korea top U.S. agenda at IMF/World Bank meetings

Trump’s shifting views on stock market highs Dimming prospects of tax reform in the U.S.The economic crisis in Venezuela. Persistent nuclear threats fromNorth Korea. These are just some of the monumentalchallenges facing global finance ministers and central bankers as they gather in Washington this week for the annual meetings of the International Monetary Fund and the World Bank. Here’s a look at four of the key issues likely to be on the agenda: Tax reform A big question heading into this week’s meetings: Can the Trump administration deliver on its ...

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Turkey's currency slumps on U.S. visa spat

Turkey’s currency is suffering the effects of the country’s escalating feud with the United States. The Turkish lira slumped as much as 6.6% against the U.S. dollar on Monday after a spat over visas between the two countries intensified. The nosedive in the currency came after the U.S. embassy in Ankara announced late Sunday that it would cease processing most kinds of visas for Turkish citizens. Turkey’s embassy in Washington D.C. quickly responded in kind,saying it would halt visa applications for Americans. The lira clawed back most of those losses ...

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NASCAR says U.S. allows people 'right to peacefully express' themselves

How NFL teams responded to Trump during anthem NASCAR said it respects both the national anthem and that the U.S. Constitutionprotects the right to free speech. The anthem has elicited strong reactions throughout the sports world. In the NFL, the WNBA, MLB and even in the world of pro tennis, athletes have taken a knee during the performance of the Star-Spangled Banner at sporting events in a gesture first used by Colin Kaepernick. The former 49ers quarterback began kneeling in 2016 as a way to protest the treatment of black ...

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U.S. government sues over alleged bitcoin Ponzi scheme

Martin Shkreli guilty of securities fraud Bitcoin is a relatively new currency, but that doesn’t mean investors are safe from old school fraud. The U.S. Commodity Futures Trading Commission said Thursday that it’s suing a New York man and his company over an alleged bitcoin Ponzi scheme. It’s the agency’s first fraud suit involving bitcoin. The CFTC, an independent agency that monitors U.S. derivatives markets, claims that Nicholas Gelfman of Brooklyn, New York and his fund Gelfman Blueprint, Inc., which primarily invests in bitcoin, “fraudulently solicited more than $ 600,000 ...

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