Rolling coverage of the latest economic and financial news, as Hong Kong’s economy tumbles into recessionBreaking: Hong Kong in recessionGDP plunged by 3.2% in last quarterPro-democracy protests hit tourism and spendingEarlier:Introduction: Chinese factories suffer another contractionUS Federal Reserve cut interest rates last night 1.52pm GMT Over in New York, stocks have dipped at the start of trading, despite Donald Trump’s attempts to bolster trade deal hopes.The Dow Jones industrial average has dropped by 62 points, or 0.2%, to 27,124.#Breaking Facebook shares are up more than 4% as Q3 EPS were $2.12 vs $1.91 forecast .Average revenue per user: $7.26 vs $7.09 forecastPrices are indicative only. $NDX $SPX $ES_F $NQ $FB pic.twitter.com/UXvmZEALag 1.27pm GMT Newsflash: President Trump has just announced that he will sign a ‘phase one’ trade deal with President Xi soon.China and the USA are working on selecting a new site for signing of Phase One of Trade Agreement, about 60% of total deal, after APEC in Chile was canceled do to unrelated circumstances. The new location will be announced soon. President Xi and President Trump will do signing! Continue reading…
Via: Hong Kong protests drag economy into recession – business live
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PIERS MORGAN: A phone call I received from a fired-up Trump should be a warning to Democrats
President Trump called me for a chat on Saturday. It was our first conversation since he unfollowed me on Twitter in April after I wrote a Mail column telling him to ‘Shut the f*ck up Read more…