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US budget deficit forecast $1 trillion higher over next decade, watchdog says
WASHINGTON, Aug 20 (Reuters) - U.S. federal budget deficits will be nearly $1 trillion higher over the next decade than projected in January by the Congressional Budget Office as a result of tax and spending legislation and tariffs, a budget watchdog said on Wednesday.Reuters
Wed, Aug 20
Japan's Nikkei falls for second day on lower chip shares
By Rocky Swift TOKYO, Aug 20 (Reuters) - Japan's Nikkei share average slid for a second day on Wednesday, coming off of record highs and dragged lower by chip-related companies.SoftBank Group 9984.T plunged 7.6%, while Advantest 6857.T, a maker of chip-testing equipment, lost 6.1%. The losses...Reuters
Wed, Aug 20
Japan's exports log biggest drop in 4 years as US tariff impacts intensify
TOKYO, Aug 20 (Reuters) - Japan's exports posted the biggest monthly drop in about four years in July, government data showed on Wednesday, as the impact of U.S. tariffs intensified, raising concerns about the outlook for the export-reliant economy.Reuters
Wed, Aug 20
Trump Expands 50% Steel and Aluminum Tariffs to Include 407 Additional Product Types
The Trump administration has quietly expanded its 50% steel and aluminum tariffs to include more than 400 additional product categories, vastly increasing the reach and impact of this arm of its trade agenda.Tiger News
Wed, Aug 20
Oil prices rise after supply concerns resurface as Ukraine peace talks stall
BEIJING, Aug 20 (Reuters) - Oil prices rose on Wednesday as supply concerns are resurfacing while peace talks ending Russia's invasion of Ukraine are likely to take longer, leaving in place sanctions on Russian crude and raising the chance of further restrictions on its buyers.
Reuters
Wed, Aug 20
Japan's Nikkei to ease off record peak as trade honeymoon fades
TOKYO, Aug 20 (Reuters) - Japan's Nikkei share average .N225 will likely ease off recent record highs toward year-end, according to strategists in a Reuters poll, though much depends on a fragile trade agreement with the United States.Reuters
Wed, Aug 20
Australia shares set to inch higher at open, NZ slips
Aug 20 (Reuters) - Australian shares are likely to edge higher at open on Wednesday after data on Tuesday showed local consumer sentiment improved sharply in August, while investors globally await U.S. Federal Reserve Chair Jerome Powell's comments later this week.Reuters
Wed, Aug 20
Trump eyes US government stakes in other chip makers that received CHIPS Act funds, sources say
WASHINGTON, Aug 19 (Reuters) - U.S. Commerce Secretary Howard Lutnick is looking into the federal government taking equity stakes in computer chip manufacturers that receive CHIPS Act funding to build factories in the country, two sources said.Reuters
Wed, Aug 20
Bessent says US has had very good talks with China on tariffs
Aug 19 (Reuters) - Treasury Secretary Scott Bessent told Fox News on Tuesday that the United States has had very good talks with China regarding tariffs as the countries attempt to reach a trade deal during a 90-day pause in tariff implementation.Reuters
Wed, Aug 20
Intel gets $2 billion lifeline in the form of SoftBank equity investment
SoftBank to become 6th largest Intel shareholder, according to LSEG dataSoftBank not seeking board seat or committing to buy Intel chips, says sourceIntel shares rise ~7%; SoftBank shares close down 4%By Jaspreet Singh, Max A. Cherney and Anton Bridge Aug 19 (Reuters) - Intel INTC.O is getting a ...Reuters
Tue, Aug 19
Pop Mart's Net Profit Soars Nearly 400% in First Half; Labubu Generates 4.8 Billion Yuan in Revenue
TradingKey - On August 19, Pop Mart disclosed its financial results for the first half of the year, revealing significant boosts in both revenue and profit, driven by the global appeal of Labubu. Revenue surged about 200%, while profit surged close to 400%.TradingKey
Tue, Aug 19
Dual Leaders Emerge in Battery Swapping: NIO Leads in Network, CATL Bets Big on Infrastructure
TradingKey - As a pioneer of the battery-swapping model in China, NIO has built over 3,000 swap stations nationwide, with users completing more than 30 million battery swaps cumulatively.
TradingKey
Tue, Aug 19
H20’s “Backdoor” Scandal Unresolved — Why Is NVIDIA Pushing Another China-Specific Chip?
TradingKey - After the partial lifting of export restrictions on its H20 chip in China, NVIDIA is accelerating the development of its next-generation product tailored for the Chinese market. According to Reuters, citing sources on August 19
TradingKey
Tue, Aug 19
ARM Poaches Amazon AI Chip Chief; Accelerates Custom Silicon Shift
TradingKey - According to Reuters, global semiconductor intellectual property giant Arm has successfully hired Rami Sinno, former head of Amazon’s artificial intelligence (AI) chip division, reflecting the company’s latest progress in accelerating strategic transformation and building an in-house...
TradingKey
Tue, Aug 19
