Of all the cases of economic espionage charged by the DOJ's National Security Division since 2012, more than 80% of them implicated China.World Politicsread more
"Whilst there is a big dispute at the moment, I think there's also potential for resolution," UBS chairman Axel Weber says of the U.S.-China trade negotiations.World Economyread more
There are alternative financial centers and investors can turn to Singapore, Tokyo or Shanghai if Hong Kong doesn't "shape up," says the founder and chairman of Citic Capital.Asia Economyread more
The Kingdom and oil and gas industry have been slow to shore up defenses, raising red flags about the possibility of longer term fall-out in the region.Technologyread more
Tensions between South Korea and Japan may ultimately disrupt the high-end tech sectors, says Heenam Choi, CEO at South Korea's sovereign wealth fund.Traderead more
On Sunday, the 71st Primetime Emmy Awards honored the best comedies, dramas, limited and variety series from the last year.Entertainmentread more
U.S. President Donald Trump's national security advisor said on Sunday that White House Asia policy adviser Matt Pottinger would become his top deputy.Politicsread more
Removing Neumann is a difficult decision for Son, who has long believed in WeWork and Neumann's vision to quickly expand the company.Technologyread more
Datadog went public on Thursday and instantly hit a $10 billion valuation, becoming the fourth cloud software debut to reach that level this year.Technologyread more
There are challenges with Iran, North Korea, the Afghan Taliban, Israel and the Palestinians — not to mention a number of trade pacts.Politicsread more
Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
(New throughout; adds analyst quotes)
NEW YORK, Sept 6 (Reuters) - A mixed employment report on Friday morning and an even-keel message from U.S. Federal Reserve Chair Jerome Powell left yields modestly lower, firming up market expectations the central bank will cut interest rates by the expected 25 basis points at its September meeting.
The Fed will continue to act "as appropriate" to sustain an economic expansion now in its 11th year, Powell said Friday in Zurich, repeating a pledge that financial markets have taken to signal a further reduction in interest rates.
"There was nothing out of the ordinary that would sway the market one way or the other to think there was something different about how he has been talking about the markets since Jackson Hole," said Justin Lederer, Treasury analyst and trader at Cantor Fitzgerald.
"We are expecting a 25 basis point cut in two weeks," said Lederer. Neither Powell's remarks nor the employment data changed that perspective. "It did not put a 50 basis point cut in play."
Treasury yields were modestly lower than where they had been going into the panel discussion, with the two-year yield down 1.6 basis points to 1.524% and the 10-year yield down 1.7 basis points to 1.548%. The Labor Department's report earlier Friday showed job growth had slowed more than expected in August, but losses were cushioned by strong wage gains, which should support consumer spending and keep the economy expanding moderately amid rising threats from trade tensions.
"It was a generally weak report. The U.S. labor market has been the last line of defense amid softening global economic data and we can't read too much into any single report. But this is one more piece of evidence that the Fed is behind the curve," said Bill Merz, head of fixed income research at U.S. Bank Wealth Management.
The economy's waning fortunes, underscored by an inversion of the U.S. Treasury yield curve, have been largely blamed on the White House's year-long trade war with China. Washington and Beijing slapped fresh tariffs on each other's exports on Sunday. While the two economic giants on Thursday agreed to hold high-level talks in early October in Washington, the uncertainty, which has eroded business confidence, lingers.
The jobs report is unlikely to change what the Fed does at its next monetary policy meeting. "The labor market continues to be the strongest point of data across the economic landscape, and thats not what has been the catalyst for the Fed shifting to an easing bias," added Merz. (Reporting by Kate Duguid; Editing by Dan Grebler and Alistair Bell)