The president has repeated some familiar claims -- the Federal Reserve was too quick to raise interest rates in recent years, and too slow to cut them (despite his chivvying).
He also blames the Fed’s tight monetary policy for the slowdown in US manufacturing -- although his own trade war with China is probably a bigger factor....
The Fed cut rates to a range of 1.5%-1.75% yesterday. Trump, though, argues they should be below Germany and Japan -- so effectively below zero.
There’s relief for Northern Ireland today -- US aerospace manufacturer Spirit Aerosystems has bought the historic Short Brothers factory from Bombardier, saving thousands of jobs.
Ouch! The manufacturing sector in Chicago suffered a dramatic contraction this month.
The Purchasing Managers Index in the Chicago region has tumbled to 43.2 in October from 47.1 in September, a level that suggests output and activity crumbled.
I guess this is partly due to the strike by General Motors staff this month, which ultimately won workers pay rises and protected their healthcare provision.
The protests in Hong Kong began against a bill that would have allowed Hong Kong citizens to be extradited to mainland China, or scores of other countries where there’s currently no extradition treaty.
Critics of the bill, which was abandoned last month, feared it could allow any citizen to be arrested and swept out of the City state to face charges.
But as protestors in this video explained, the demonstrations became about other issues too - including police brutality, and attempts to undermine the “one country, two systems” formula created when Britain handed Hong Kong over in 1997.
Many of the protesters are young people, also angry about economic issues such as unaffordable property and income inequality.
But some older people are on the streets too, trying to protect the younger generation. One, called Uncle Wong, told us his story here:
Reuters is reporting that Hong Kong police have fired tear gas to try to break up anti-government protests in the densely populated district of Mong Kok on the Kowloon peninsula today.
Demonstrations were expected on Hong Kong island to coincide with Halloween celebrations.
Some protestors are wearing masks, to challenge an anti-mask ban brought in by the Hong Kong authorities earlier this month.
AP has more details:
Organizers are calling on supporters of the protest movement to take part in a “masquerade” that will put to the test a recent government ban on masks at public gatherings aimed at quelling the increasingly violent protests now in their fifth month.
Digital fliers circulated online called on people to wear masks depicting Hong Kong Chief Executive Carrie Lam and Chinese President Xi Jinping and other senior officials.
They also said people could wear a mask and dress in red for the march, which was set to begin at a large park and proceed to the Lan Kwai Fong bar and nightclub district.
Just in: the protests in Hong Kong have helped to force make-up and fragrance firm Estee Lauder to cut its profit forecasts.
Estee Lauder has told shareholders that net sales in Hong Kong fell in the last quarter.
It blamed “events impacting key shopping areas” in recent months; namely, the widespread protests that forced shop closures and kept tourists away.
This took the shine off an 11% increase in total net sales, to $3.9bn.
Estee Lauder also warns that it faces various social, economic and political risks, including “cContinued challenges in Hong Kong impacting key shopping areas”.
It also cites Brexit, and the US-China trade wars, in a list of various “geopolitical tensions, regulatory matters, global security issues, currency volatility and economic challenges” that could hit consumer spending.
The company now expects 2020 adjusted profit between $5.85 and $5.93 per share compared with its prior range of $5.90 to $5.98.
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