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In Michigan, which is likely to be a battleground state in 2020, EBW Electronics continued to produce lights for the auto industry even as nearby factories succumbed to competition and moved to Mexico.
President Trump’s tariffs may change that, executives told the NYT’s Peter S. Goodman. Pat LeBlanc, EBW’s chairman, who voted for Mr. Trump, said the trade war with China could halve the company’s profit for the year. “It’s killing us,” he said. “I just feel so betrayed.”
Chinese and American trade negotiators are meeting today in Beijing, hoping to extend a delicate truce. Tariffs as high as 25 percent on Chinese imports have left American companies such as EBW trying to pass higher costs of foreign components to their customers, struggling to keep up with competitors abroad and considering whether to move their plants and jobs outside the country.
• Mr. Trump says the U.S. has the stronger negotiating position: China, he said, will capitulate because it’s “not doing very well now.”
• He has a point: The Labor Department’s report on the U.S. job market, released on Friday, was surprisingly strong. And concerns about a slowdown in China, whose central bank said last week that it would pour 8 billion into the economy, have riled global markets in the new year. In the past month, China has approved more than 5 billion in new rail projects as a stimulus.
• Signs of a slowing economy: But factory orders are struggling not just in China but also in the U.S. The effects of Mr. Trump’s tax overhaul on consumer spending are expected to wane this year. The government shutdown is straining federal agencies. And rising interest rates are weighing on the American housing market.
• Key issues for negotiators: The trade talks are likely to focus on issues such as intellectual property, Huawei and energy, according to Bloomberg.
• Global markets are watching closely: Equities jumped in Asia today, European stocks opened up and oil prices rose as negotiations began.
Today’s DealBook Briefing was written by Andrew Ross Sorkin and Stephen Grocer in New York, and Tiffany Hsu and Gregory Schmidt in Paris.
Alexandria Ocasio-Cortez, the youngest woman ever elected to the House of Representatives, spent her first weekend in office trading barbs with a top House Republican over her tax proposal.
In an interview with Anderson Cooper on “60 Minutes,” Ms. Ocasio-Cortez, a 29-year-old Democrat from the Bronx, described a plan that would raise the tax rate for the richest Americans to as high as 70 percent. The rate, which would apply to those earning more than million a year, would be significantly higher than the current top rate of 37 percent, which was lowered in 2017 from 39.6 percent. She explained:
“That doesn’t mean all million are taxed at an extremely high rate, but it means that as you climb up this ladder, you should be contributing more.”
On Twitter, Representative Steve Scalise, Republican of Louisiana and the minority whip, called the suggestion an attempt to take “hard-earned money” and “give it to leftist fantasy programs.”
Ms. Ocasio-Cortez responded by accusing Republicans of “ripping off” American workers “for profit.” Mr. Scalise then said it was “not productive” to engage with her “radical followers,” and admonished her with a hashtag to “#StayClassy.”
• In the interview with Mr. Cooper, Ms. Ocasio-Cortez called herself a radical and said there was “no question” Mr. Trump is racist.
• She also responded on Friday to footage from her college years showing her dancing barefoot on a rooftop, posting another video of herself dancing into her office in Washington. “I hear the GOP thinks women dancing are scandalous,” she wrote on Twitter. “Wait till they find out Congresswomen dance too!”
Last year was rough for hedge funds.
But not for Ray Dalio and his Bridgewater firm, which manages 0 billion in assets. The company’s flagship Pure Alpha hedge fund recorded a gain of 14.6 percent last year, easily beating the broader market and rival funds. It was Pure Alpha’s best performance in five years; in 2017, it returned just 1.2 percent.
On average, hedge funds lost 2 percent last year through the end of November. “Macro” funds that bet on the direction of the global economy saw returns slide more than 4 percent.
Bridgewater attributed its high return in part to a highly diversified strategy.
Other hedge fund superstars had a far less successful 2018.
The main fund of David Einhorn’s Greenlight Capital lost 34 percent last year, its worst performance since the firm opened in 1996, according to CNBC. Larry Robbins’s Glenview Capital Management suffered a 16 percent decline, in large part because of a hit to the firm’s health care portfolio, the WSJ reported. Third Point, run by Daniel Loeb, took an 11 percent hit. The S&P 500 ended the year down 6 percent.
The Wall Street roller coaster is a ride that many analysts now look to with trepidation, as the bull market approaches its 10th year. Analysts from Citigroup, BMO Capital Markets and Credit Suisse are trimming their forecasts for 2019, according to the WSJ, despite soothing words from the Fed chairman, Jerome Powell, about flexible rate policy as well as a blockbuster jobs report on Friday.
Major indexes are performing far below their highs, especially after a sharp sell-off in December and Apple’s decision on Wednesday to lower its quarterly revenue forecast for the first time in more than 15 years.
Many investors are considering safe haven assets like the Japanese yen and gold. Analysts are worried that pessimism could result in slumping equities and rising corporate bond yields, which could lower consumer and business confidence and spending.
The U.S. central bank, which steered the economy through the financial crisis and its rebound, has its work cut out: It must handle a slowdown in growth while keeping inflation in check and avoiding a recession.
Apple blamed China’s slowing economy and growing trade tensions with Washington when it announced last week that it was lowering its revenue forecast.
But the NYT’s Kevin Roose thinks the company should be more worried about his mom, a longtime Apple fan and tech-savvy retiree who lives in a small town in Ohio.
The problem? She likes her phone — a three-year-old iPhone 6S — as well as her first-generation Apple Watch and (relatively) ancient MacBook Air. She’s not looking to upgrade anytime soon. He writes:
“The most consequential hit to Apple’s bottom line may be from people who are holding on to their phones for longer. Back in 2015, iPhones were being replaced after roughly two years, on average, according to BayStreet Research, a firm that tracks smartphone sales. That period has jumped to roughly three years, and is expected to grow even more.”
Elsewhere in the orchard:
• Apple’s cheapest new model, the iPhone XR, hasn’t done very well, leading the company to cut its production forecast for the device.
• As it shifts from its hardware-first approach into a more services-focused strategy, Apple announced a deal with Samsung, its archrival, to offer iTunes movies and television content on the South Korean company’s television sets. Tomorrow, Samsung is expected to report its first drop in quarterly operating profit in two years, because of slower growth in China.
A growing number of venture capitalists are rooting for a market dip to calm the overheated start-up scene.
For the past few years, Silicon Valley start-ups have been awash in cash that has allowed them to expand quickly and sell or go public at high valuations. Yet that drove up the costs of deal making for venture capitalists, who often prefer to invest in young companies at lower prices in the hopes of making a bigger return later.
Now, some of these investors may get their wish for a market decline. Stocks tumbled late last year, led by tech giants such as Facebook and Apple, amid fears of slowing economic growth and a trade war with China. And so far this year, the stock market has had wild swings, whipsawed by confusing signals including Apple’s disappointing iPhone sales in China and American employers adding more jobs than expected last month.
It takes time for choppiness in the stock market to ripple out to the start-up market, but many venture capital investors are already preparing for a downturn. Some are setting aside money to pounce on investments and are preparing to write bigger checks with the expectation that new investors who flooded in recent years would flee. And they are keeping closer tabs on companies that were too expensive to invest in last year.
In the U.S., venture capital activity last year sank to a five-year low of 5,536 deals, though funding surged 30 percent from 2017, to .5 billion. In Asia, the number of deals and the amount of financing surged.
The surprise announcement that Susan Zirinsky would replace David Rhodes as CBS News president was the latest major personnel change at CBS after the ouster of Leslie Moonves, the company’s longtime chief executive. (NYT)
• The joint venture between Morgan Stanley and Mitsubishi UFJ Financial Group has not only created a leading investment bank in Japan, it has given the Wall Street bank an added .8 trillion on its balance sheet. (WSJ)
• Apollo is said to be in talks to secure financing to buy all or part of General Electric’s jet-leasing unit, a business that could be worth as much as billion. (Bloomberg)
• Starboard Value, the New York hedge fund and activist investor, is said to be pushing the discount retailer Dollar Tree to sell its Family Dollar business, which it bought for billion in 2015, and to raise some prices above . (WSJ)
• A Visa subsidiary said last month that it had offered 30 pence a share, or 2 million, for Earthport, a payments firm based in London. The offer was about four times the company’s previous closing share price, but some shareholders want more options. (Bloomberg)
• Should negotiations between Sears and its chairman, Edward Lampert, over his .4 billion takeover bid be unsuccessful, the retailer is said to have tapped Abacus Advisory, a longstanding liquidator, to shed inventory. (Reuters)
Politics and policy
• “Not much headway made today,” President Trump conceded on Twitter after a meeting on border security and the government shutdown yielded little progress on Saturday. (NYT)
• The Fed chairman, Jerome Powell, tried to ease the fears of investors by suggesting that the Fed could afford to watch and wait before deciding whether to continue raising interest rates. (NYT)
• Coping with a partial government shutdown, federal civilian agencies that are out of funds are ordering some contractors to halt work. (WaPo)
• President Emmanuel Macron of France is struggling with violent protests as a grass-roots rebellion has morphed into an assault on his presidency and French institutions. (Reuters)
• The rapper 2 Milly has sued the maker of the Fortnite video game, claiming that the company used his dance moves in the game without his permission. (WSJ)
• Amazon is building a logistics network in rural India to reach customers who don’t have smartphones or credit cards, but who do have money to spend. (WSJ)
• Tesla broke ground today on its billion Shanghai Gigafactory, as the electric-car maker looks to strengthen its presence in China, the world’s biggest auto market. (Reuters)
• As China prepares its Nasdaq-style board for start-ups, technology companies in the country are hopeful the move will pave the way for a lower listing threshold and easier access to funding. (Reuters)
• Kenichiro Yoshida, the chief of Sony, says he considers it “a creative entertainment company” and sees the PlayStation Network as a way to bring Sony movies, shows and music to consumers. (NYT)
• Netflix wins big at the Golden Globes, taking home trophies for best TV comedy and best foreign film, among others. (WSJ)
Best of the Rest
• The parent company of Pacific Gas and Electric Company announced on Friday that it would be making changes to improve safety, including “a board refreshment process.” (WSJ)
• Facing billions of dollars in damages stemming from wildfire liability claims, PG&E and other utilities want legislators to let them pass the costs on to homeowners through higher electricity rates. (NYT)
• Claiming their big-box stores are worth much less than their tax assessment, retailers are trying to win property tax appeals, but homeowners and small businesses will have to pay more or live with smaller town budgets. (NYT)
• The investment adviser Vanguard retained its title as the fastest-growing fund manager for the seventh straight year. (FT)
• Netflix’s decision to remove an episode of its comedy show “Patriot Act” from its service in Saudi Arabia raises questions of whether entertainment giants will fight for values like free expression. (NYT)
• The overall number of guests affected by the Marriott hacking, in which Chinese intelligence is the leading suspect, declined to 383 million. But the company’s Starwood hotel unit didn’t encrypt the passport numbers of roughly five million guests. (NYT)
• New car sales in Britain dropped last year as new emissions tests led to supply bottlenecks, diesel drivers held onto their cars for longer and uncertainty mounted over the country’s exit from the European Union. (FT)
• Barclays’s former chief executive, John Varley, and three others are to face trial this week on charges stemming from an inquiry into the bank’s emergency refinancing arrangements with Qatar in 2008. (FT)
• Iran is proposing snipping four zeros from the rial after the currency plunged last year. (Reuters)
• Lowe’s, the home improvement retailer, plans to hire more than 65,000 workers this year, including 50,000 seasonal positions and nearly 10,000 permanent employees focused on inventory management. (WSJ)
• The average rents in U.S. shopping malls gained less than 1 percent in the fourth quarter from a year earlier, and they could dwindle further this year as economic growth slows. (WSJ)
• A strong economy and sluggish home sales led to an increase in residential rents in 2018, but as a wave of new apartments hits the market this year, landlords may have a tough time raising rents. (WSJ)
Thanks for reading! We’ll see you Tuesday.
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七星彩高手论坛手机版【生】【化】【危】【机】【是】【新】【事】【态】【的】【恶】【魔】，【与】【机】【器】【人】【叛】【变】【是】【同】【一】【个】【级】【别】【的】【恶】【性】【事】【件】，【其】【人】【伦】【道】【理】【更】【是】【让】【人】【无】【法】【接】【受】。【但】【凡】【提】【到】【现】【实】【版】【生】【化】【危】【机】，【大】【家】【都】【要】【起】【一】【身】【鸡】【皮】【疙】【瘩】。 “【那】【会】【不】【会】【传】【染】？【整】【条】【飞】【船】【上】【的】【人】【都】【会】【变】【成】【这】【种】【生】【化】【人】【吗】？”【这】【种】【东】【西】【黄】【凤】【还】【是】【很】【害】【怕】【的】，【她】【往】【风】【吹】【云】【身】【边】【靠】【了】【靠】。 【风】【吹】【云】【刹】【那】【间】【化】【身】【成】【为】【打】【了】【胜】【仗】
“【你】【说】【的】【是】【什】【么】？”【韩】【子】【禾】【看】【着】【眼】【前】【这】【位】，【眸】【子】【里】【的】【温】【度】【可】【以】【算】【是】【极】【速】【降】【低】，【但】【是】【很】【显】【然】，【她】【这】【姐】【姐】【姐】【夫】，【应】【该】【没】【看】【出】【来】。 “【韩】【子】【禾】”【因】【为】【一】【直】【仔】【细】【打】【量】【这】【里】【这】【个】【韩】【子】【禾】，【所】【以】【没】【有】【错】【过】【韩】【子】【禾】【这】【基】【本】【上】【可】【以】【忽】【略】【不】【计】【的】【反】【应】。 【不】【能】【不】【说】，【眼】【前】【这】【个】【跟】【自】【己】【顶】【着】【一】【张】【面】【孔】【的】【女】【人】，【有】【更】【加】【深】【沉】【的】【城】【府】，【所】【以】，【这】
【这】【一】【次】【江】【诚】【对】【这】【个】【话】【题】【的】【看】【法】【跟】【上】【次】【一】【样】，【那】【就】【是】【现】【在】【的】【人】【实】【在】【是】【太】【闲】【的】【无】【聊】【了】，【所】【以】オ【会】【讨】【论】【那】【么】【无】【聊】【的】【话】【题】。 【上】【次】【在】【网】【上】【讨】【论】【江】【诚】【的】【智】【商】【有】【多】【高】，【他】【本】【人】【就】【是】【这】【么】【评】【价】【那】【些】【参】【与】【讨】【论】【的】【人】。 【反】【正】【他】【觉】【得】【现】【代】【人】【可】【能】【是】【闲】【的】【蛋】【疼】，オ【会】【一】【天】【到】【晚】【谈】【这】【种】【事】【情】。 【对】【江】【诚】【来】【说】【这】【种】【无】【赖】【的】【事】【情】，【他】【一】【向】【都】【会】【屏】
【话】【不】【多】【说】，【下】【本】【书】【预】【计】11【月】【份】【同】【大】【家】【见】【面】，【希】【望】【大】【家】【多】【多】【支】【持】。七星彩高手论坛手机版【从】【小】，【他】【就】【无】【忧】【无】【虑】【的】，【有】【妈】【妈】【的】【疼】【爱】，【有】【管】【家】【叔】【叔】【的】【照】【顾】。 【虽】【然】【没】【有】【父】【亲】。 【就】【在】22【岁】【的】【时】【候】，【他】【也】【在】【某】【处】【上】【班】，【生】【活】【清】【淡】【而】【幸】【福】。 【就】【在】【某】【周】【日】【的】【一】【天】，【他】【在】【家】【无】【聊】，【就】【在】【这】【时】，【从】【小】【带】【他】【长】【大】【的】【管】【家】【叔】【叔】，【带】【了】【一】【个】【很】【美】【很】【美】【的】【女】【孩】【来】【家】【里】，【对】【他】【说】：“【金】【峰】，【这】【是】【我】【远】【方】【的】【侄】【女】，【来】【家】【里】【出】【了】【点】【事】，
【雷】【毅】【整】【个】【人】【就】【石】【化】【了】。 【然】【后】【听】【到】【宋】【太】【生】【说】【句】，“【真】【好】，【免】【费】【洗】【了】【个】【脸】！” 【雷】【毅】【直】【接】【就】【跳】【起】【来】，【宋】【太】【生】【赶】【紧】【后】【退】！ “【兄】die，【别】【冲】【动】！” “【宋】【狗】【子】！！！” “【我】【突】【然】【想】【起】【我】【还】【有】【些】【事】【情】【没】【做】，【我】【先】【走】【了】【啊】，【小】【少】【爷】【就】【交】【给】【你】【了】！” 【宋】【太】【生】【说】【完】，【直】【接】【狂】【奔】【离】【去】。 【雷】【毅】【气】【得】【直】【翻】【白】【眼】。
【镇】【中】【心】【的】【一】【幢】【两】【层】【小】【楼】【外】【聚】【集】【了】【不】【少】【人】，【有】【人】【举】【着】【木】【牌】【高】【喊】【口】【号】：“【放】【了】【他】【们】！”，【也】【有】【人】【聚】【成】【一】【团】【互】【相】【攀】【谈】。 【今】【早】，【一】【个】【喜】【悦】【的】【消】【息】【传】【遍】【了】【整】【个】【雾】【松】【镇】，【在】【街】【头】【巷】【尾】【成】【为】【人】【们】【的】【谈】【资】。 【在】【昨】【晚】，【镇】【子】【里】【最】【为】【恶】【名】【昭】【著】【的】【三】【位】【地】【头】【蛇】【进】【入】【黑】【鸦】【旅】【店】【喝】【酒】，【企】【图】【侵】【扰】【一】【位】【漂】【亮】【的】【外】【地】【姑】【娘】， 【可】【这】【次】【他】【们】【惹】【到】【了】
【再】【次】【被】【那】【一】【片】【来】【自】【于】【未】【知】【植】【物】【上】【的】【叶】【子】【治】【疗】【之】【后】，【刘】【安】【现】【在】【表】【现】【出】【来】【的】【移】【动】【速】【度】【更】【快】【了】【几】【分】，【身】【体】【也】【不】【再】【如】【同】【刚】【出】【现】【之】【时】【那】【般】【僵】【硬】，【已】【经】【变】【得】【极】【为】【灵】【活】。 【所】【以】【在】【林】【尘】【三】【人】【躲】【开】【它】【的】【攻】【势】【之】【后】，【它】【很】【快】【便】【再】【次】【发】【起】【了】【攻】【势】，【极】【为】【嗜】【血】【的】【它】【根】【本】【就】【没】【有】【给】【三】【人】【任】【何】【的】【思】【考】【时】【间】。 “【这】【样】【下】【去】【迟】【早】【会】【被】【它】【给】【耗】【死】”，【林】
【乔】【景】【沉】【盯】【着】【哭】【的】【伤】【心】【欲】【绝】【的】【儿】【子】，【十】【分】【心】【疼】。 “【小】【姨】【欺】【负】【你】【了】？” 【小】【奶】【宝】【抱】【着】【爸】【爸】【的】【脖】【子】，【哭】【着】【摇】【头】：“【没】【有】，【她】【说】，【麻】【麻】【不】【要】【我】【了】。” 【乔】【景】【沉】【笑】【了】【笑】，【将】【小】【奶】【宝】【的】【脸】【上】【的】【泪】【痕】【擦】【了】【擦】，【轻】【轻】【开】【口】：“【妈】【妈】【怎】【么】【会】【不】【要】【你】【呢】？【你】【是】【妈】【妈】【的】【心】【头】【宝】，【妈】【妈】【不】【要】【什】【么】【都】【可】【以】，【就】【是】【不】【可】【能】【不】【要】【你】。” 【小】【奶】【宝】