SHANGHAI: Washington's blacklisting of technology giant Huawei has taken a toll on U.S. semiconductor shares, but China-listed firms have rallied as investors bet they can gain from Beijing's stepped-up efforts to build a homegrown supply chain.Share price gains of little-known firms such as Shenzhen Fastprint Circuit Tech and Jiangsu Changjiang Electronics Technology could be fleeting, analysts say, but Huawei's troubles could accelerate a long-term campaign in China to replace imported technologies.Since the White House added Huawei Technologies Co Ltd to a trade blacklist last week, several global companies have suspended business with the world's largest telecoms equipment maker. Citic Securities called the U.S. ban on Huawei "a warning bell" for China's chip industry, highlighting the importance of establishing independent supplies in the chip industry chain.Rapidly escalating Sino-U.S. trade tensions have also raised the stakes for Shanghai's Nasdaq-style technology board, … [Read more...] about Trump’s Huawei ban raises hopes for Chinese chip suppliers
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For many Democrats desperate to beat Trump, Biden’s their man
PHILADELPHIA: The crowded 2020 presidential race features six women, three African Americans and a dozen youthful contenders. But Denise Haley is going old school, supporting white male frontrunner Joe Biden as the Democrat best positioned to beat Donald Trump."He could lead the nation and bring us back together," Haley, who is black, told AFP of the 76-year-old former vice president, reflecting what appears to be a solidifying sentiment amid voters whose support has given Biden a commanding poll lead.Haley, a 60-year-old health care professional, was in the crowd Saturday when Biden came to Philadelphia, Pennsylvania to address the biggest, most boisterous rally of his four-week-old White House campaign.Many attendees thrilled at Biden essentially sidestepping discussion of the gruelling primary battle ahead and focusing on the general election face-off with Republican Trump, whom he often attacked with explicit condemnation."Biden is Trump's biggest rival and has the highest chance … [Read more...] about For many Democrats desperate to beat Trump, Biden’s their man
European stocks tumble as Trump threatens China tariffs
PARIS: President Donald Trump sent global stock markets tumbling on Monday (May 6) by threatening to hike tariffs on US$200 billion of Chinese goods to force the pace in stuttering trade talks between the economic superpowers.Equities in Asia, Europe and the US were a sea of red as Trump's remarks rekindled fears of a trade war with potentially devastating consequences for world growth."For 10 months, China has been paying Tariffs to the USA of 25% on 50 Billion Dollars of High Tech, and 10% on 200 Billion Dollars of other goods," Trump tweeted on Sunday night. "The 10% will go up to 25% on Friday."Many markets, however, pared early steep losses as analysts suggested that Trump was playing a game of brinkmanship and would ultimately save ongoing trade talks.The Dow Jones index, which fell by over 400 points at the opening bell, had clawed back more than half of that loss by the late New York morning.Eurozone stocks were also in better shape at the end of the European trading day … [Read more...] about European stocks tumble as Trump threatens China tariffs
Trump, Democrats agree to spend $2 trillion on US infrastructure
President Donald Trump and Democratic leaders agreed on Tuesday to spend $2 trillion on U.S. roads, bridges, power grids, water and broadband infrastructure, while leaving the thorny details of how to pay for it all to another meeting in three weeks. The two sides met at the White House and described their discussion in positive terms, but the air of bipartisan cooperation may not last long. Republicans are not willing to roll back tax cuts from Trump's 2017 tax reform legislation, an idea Democrats who largely opposed that measure have floated as a way of financing the infrastructure plans. Trump has not decided whether he would support an increase in fuel taxes to fund infrastructure projects, according to his top economic adviser, Larry Kudlow. Still, the meeting between Trump, House of Representatives Speaker Nancy Pelosi and Senate Democratic leader Chuck Schumer contrasted with previous, more heated discussions on immigration and border security. "We just had a very productive … [Read more...] about Trump, Democrats agree to spend $2 trillion on US infrastructure
At Trump golf course, undocumented employees said they were sometimes told to work extra hours without pay
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By Joshua Partlow The Washington Post David A. Fahrenthold Tues., April 30, 2019 HILLSDALE, N. Y.—His bosses at the Trump country club called it “side work.” On some nights, after the club’s Grille Room closed, head waiter Jose Gabriel Juarez — an undocumented immigrant from Mexico — was told to clock out. He pressed his index finger onto a scanner and typed his personal code, 436. But he didn’t go home. Instead — on orders from his bosses, Juarez said — he would stay on, sometimes past midnight. He vacuumed carpets, polished silverware and helped get the restaurant at Trump National Golf Club Westchester in Briarcliff Manor, New York, ready for breakfast the next day. All off the clock. Without being paid. Article Continued Below “It was that way with all the managers: Many of them told us, ‘Just clock out and then stay and do the side work,’ “ said Juarez, who spent a decade at … [Read more...] about At Trump golf course, undocumented employees said they were sometimes told to work extra hours without pay