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U.S. China News 2012.08.10

Fri, August 10, 2012

Olympic bragging rights come down to USA vs. China
USA TODAY
The USA likely will finish atop the medals table, just as the Americans have done in the previous four Summer Games. With three days of competition remaining before Sunday’s closing ceremony, the USA leads China 90-80 in the overall medal race.
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US STOCKS-Shares slip on Chinese data, S&P still up for week
Reuters
NEW YORK, Aug 10 (Reuters) – U.S. stocks fell on Friday on far weaker-than-expected growth in Chinese exports in a sign of a slowing global economy, but the S&P 500 was on track for a fifth straight week of gains. Data on Chinese trade and bank lending
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Oil falls on China slowing, weaker IEA demand forecast
Reuters
NEW YORK (Reuters) – Oil prices fell on Friday on data showing China’s total exports grew less than forecast and its crude oil imports fell in July, and on weaker global oil demand forecasts from the International Energy Agency. Those reports added to
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US stocks hit as China data disappoint
MarketWatch
NEW YORK (MarketWatch) — U.S. stocks fell Friday, curtailing a fifth week of gains for the Dow industrials and S&P 500 index, after Chinese trade data yielded disappointing results. The major indexes, however, came off their lows as the euro gained
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China’s Gu confesses to killing Briton Heywood: Xinhua |
Reuters
The murder scandal erupted after the former police chief Wang dramatically sought temporary refuge in a U.S. consulate in February, just weeks after he was said to have confronted Bo with Gu’s involvement. Bo was sacked as Chongqing boss in March and
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Stocks mixed on China, US
iAfrica.com
European equities posted mixed performances Thursday as Chinese data lifted hopes that Beijing would loosen monetary policy further and US trade figures turned out to be better than expected. London’s benchmark FTSE 100 index of top companies edged
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Stock market is ending the week on a sour note
Businessweek
U.S. stocks moved lower Friday following unsettling reports out of China and elsewhere in Asia. China’s export growth plunged, Singapore’s economy shrank and South Korea’s central bank issued pessimistic predictions. How China and other Asian countries
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Charting the slowdown in China, US export growth
MarketWatch
In China, export growth slowed to just 1% in July, which set off alarm bells in markets considering that the country is the workshop for the world. The Chinese authorities don’t adjust for price, however, and according to Lombard Street Research
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US Authorities Scrutinize Adelson China Center
Wall Street Journal (blog)
In the fall of 2007, during the Chinese ambassador’s tour of the U.S., one stop was Las Vegas Sands Corp.’s Venetian casino, where he helped celebrate the announcement of a planned Adelson Center for U.S.China Enterprise in Beijing. Guests dined on
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Olympics: Bolt retains sprint titles, US overtakes China in medal tally (Roundup)
New York Daily News
London, Aug 10 — Jamaican sprinter Usain Bolt became the first man to retain 100 and 200 titles at the Olympics Thursday by winning the 200-metre heat while the US displaced China from top position in the medal tally with just two days remaining for
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China, US compete in Africa
Deutsche Welle
On her African tour, US Secretary of State Hillary Clinton handed down plenty of thinly disguised criticism. Washington, she said, was determined to campaign on behalf of human rights and democracy in Africa, even though it would have been easier and
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China to release corn, rice from reserves
Reuters
BEIJING (Reuters) – China will release corn and rice from state reserves to help tame inflation and reduce imports as the worst U.S. drought in half a century pushes corn prices to global records, creating fears of a world food crisis. Friday’s
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China oil, iron ore imports slow in July with economy
Reuters
SHANGHAI (Reuters) – China’s imports of crude oil sank in July to a nine-month low and those of iron ore fell for the fourth time in five months as refineries and steel mills cut output due to slackening demand as growth in the world’s second-largest
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No need to choose China, US sides: Carr
The Australian
Former prime minister Paul Keating earlier this week called for Australia to loosen its ties with the US and shift its focus towards China. Mr Keating said Australia had underestimated the economic and human rights improvements in China in the past few
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Sands China deals probed by US for possible bribery violations-WSJ
Reuters
HONG KONG Aug 10 (Reuters) – U.S. authorities are investigating Macau casino operator Sands China Ltd, controlled by Las Vegas gambling mogul Sheldon Adelson, on possible violations of anti-bribery regulations, the Wall Street Journal said on Friday.
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The Wire: China’s bizarre murder trial; battle for Aleppo; US cleanup in
San Jose Mercury News
The Wire: China’s bizarre murder trial; battle for Aleppo; U.S. cleanup in Vietnam; road crew paints over raccoon. By Karl Kahler · kkahler@mercurynews.commercurynews.com. Posted: 08/09/2012 12:17:03 PM PDT. August 9, 2012 7:17 PM GMTUpdated:
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US import prices fall on oil, industrial supplies
Reuters
U.S. stock index futures fell, hurt by trade and new bank lending data in China that suggested pro-growth policies have been slow to gain traction and more urgent action may be needed to stabilize the economy. Yields on U.S. government debt also slipped.
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Weak Asia data shows growing toll from downturn
U.S. News & World Report
“Given this backdrop, the 1 percent from China merely reconfirmed that the severe headwind from the euro zone crisis and the U.S. slowdown is blowing harder,” Societe Generale economist Yao Wei said in a report. Analysts expect China and other
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US economic data, China inflation in focus
MarketWatch
European stock markets wobbled on the edge of a fifth consecutive day of gains on Thursday, with some slim lines of support from Chinese economic data and well-received results from heavyweights Novo Nordisk AS and Nestlé SA. Read Europe markets
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China presses offensive against Bo with police trial
Chicago Tribune
HEFEI, China (Reuters) – China pressed ahead with an offensive against ousted politician Bo Xilai on Friday, a day after the murder trial of his wife, with a separate prosecution of four police officers accused of trying to cover up the killing that
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Where U.S.China Power Sharing Would Leave Japan
Forbes
English: President Barack Obama bids farewell to Chinese Ministers in the Roosevelt Room of the White House after the first U.S.China Strategic and Economic Dialogue on July 28, 2009. (Photo credit: Wikipedia). minister of Australia. In the past week
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Drought-hit US crops worse than feared, squeeze looms
Reuters
Lowest U.S. corn use in 6 years, soy in 9 years. * Russia wheat down 12 pct, China corn up 2.5 pct. * Record soy crop makes Brazil No. 1 in world. By Charles Abbott. WASHINGTON, Aug 10 (Reuters) – The worst U.S. drought in more than half a century has
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China’s July exports slow sharply, outlook grim
Xinhua
China’s trade surplus narrowed 16.8 percent year on year to 25.2 billion U.S. dollars in July, taking the combined trade surplus to 94.1 billion U.S. dollars for the first seven months of the year, according to the GAC. In the January-July period
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METALS-Copper drops after soft China trade data
Reuters
China’s July exports undershoot forecasts by big margin * China’s July copper imports rose 5.9 pct on mth * Coming up: U.S. Federal budget for July; 1800 GMT (Updates to add closing prices) By Eric Onstad and Harpreet Bhal LONDON, Aug 10 (Reuters)
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Asian stocks fall as China trade growth slides
U.S. News & World Report
By PAN PYLAS, Associated Press. LONDON (AP) — A round of weak Chinese economic figures that provided further evidence of a slowdown in the world’s second largest economy weighed on global markets Friday. However, the figures, which come a day
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Mid-Day ETF Update: ETFs, Stocks Continue to Weaken on China Trade
NASDAQ
reported that U.S. July import prices fell 0.6%, the fourth straight month that import prices fell, triggering worries of a deflationary period. But July export prices rose 0.5%, which may offset the risk. However, disappointing data on China’s
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China vs. the US in Africa: Who’s ‘Winning?’
CNBC.com
U.S. Secretary of State Hillary Clinton is in the midst of an 11-day trip across sub-Saharan Africa. Speaking on Aug. 1 on the topic of “Remarks on Building Sustainable Partnerships in Africa,” at the University of Cheikh Anta Diop in Dakar, Senegal
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Fed Can’t Fix US Economic Headwinds, Clarida Says: Tom Keene
Bloomberg
“We have the headwinds from the fiscal cliff, from the slowdown in China, from the turmoil in Europe. None of those are monetary-policy issues.” U.S. gross domestic product slowed to a 1.5 percent annual rate in the second quarter from a revised 2
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US GOLD – Comex gold outshines industrial commodities on China easing
FXstreet.com
“Crude and copper are suffering some pretty significant losses, obviously the China numbers are negatively impacting sentiment in those markets,” a US-based gold trader said. “But gold is holding up and has even started to push higher. The markets
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Chinese Rescue of Battery Maker Saves US Jobs, CEO Says
Bloomberg
A123 Systems Inc. (AONE)’s chief executive officer said the company’s financial rescue by China’s largest auto-parts maker will preserve U.S. jobs, after the agreement drew criticism from congressional Republicans. A123, a maker of lithium-ion
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VanceInfo, HiSoft to merge to create China outsourcing leader
Reuters
Each VanceInfo share will be exchanged for the right to receive one hiSoft share and each American Depositary Share of VanceInfo will be exchanged for the right to receive one hiSoft ADS. Immediately prior to the merger, hiSoft will effect a 13.9482-to
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Greater Percentage Of Web Attacks Hitting U.S., China
Investor’s Business Daily
The percentage of worldwide Internet attacks carried out against Chinese and American users rose sequentially in the first quarter, says a study. About 16% of all attacks against Internet users were against China’s Internet users, according to a report
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US STOCKS SNAPSHOT – Wall St dips at open on China data
Reuters
NEW YORK Aug 10 (Reuters) – U.S. stocks opened lower on Friday after a far weaker-than-expected rate of growth in Chinese exports, but the S&P 500 remained on track to post its fifth straight week of gains. The Dow Jones industrial average dropped 38
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Stocks Fall on China, France Growth Concern; Euro Slips
Businessweek
Stocks fell for the first time in six days and most commodities declined as worse-than-expected Chinese trade and French industrial output data added to evidence that the global economy is slowing. The euro weakened, while U.S. Treasuries gained and
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U.S. Stocks Open Lower; China Data Weigh -2-
NASDAQ
U.S. Stocks Open Lower; China Data Weigh -2-. Nordstrom Inc.’s (JWN) fiscal second-quarter earnings fell 11% on higher costs related to e-commerce and technology investments, along with the one-week shift of the high-end shoe and apparel retailer’s
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Canadian Currency Falls Versus US Before Unemployment Report
Bloomberg
Canada’s currency fell against its U.S. counterpart for the first time in six days as slower growth in China damped investor optimism that the nation’s employment market added jobs last month. “Its kind of a wash with all the other commodity currencies
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Cnooc to Submit Oil Deal for Review
Wall Street Journal
WASHINGTON—China’s Cnooc Ltd. said it plans to defend its $15 billion proposed buyout of Canadian oil producer Nexen Inc. before U.S. regulators by describing itself as a publicly traded company that has a record of compliance with U.S. law.
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China Automotive Systems’ CEO Discusses Q2 2012 Results – Earnings Call
TheStreet.com
Joining us today are Mr. Hanlin Chen, Chairman; Mr. Qizhou Wu, Chief Executive Officer; Mr. Jie Li, Chief Financial Officer; and Mr. Daming Hu, Chief Accounting Officer of China Automotive Systems. They will be available to answer questions later in
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US Agent Orange cleanup in Vietnam indicative of stronger ties
MinnPost.com
The clean-up is well-timed: The US is looking to increase its presence in the Asia Pacific region economically, diplomatically, and militarily. At the same time, relations in the Pacific are particularly strained, not least between China and Vietnam
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US Deploying Surveillance Drones Near China
Antiwar.com
In keeping with the Obama administration’s antagonistic military postures towards China, the US has backed various neighboring countries from Japan to the Philippines. And it’s no surprise drones have taken a larger role in what the Pentagon plans to
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US students’ tales exemplify interest
China Daily
Tao Tao Holmes had a straightforward, if exotic, plan: explore the Chinese language and maybe devote some free time during the summer to a worthy cause. Multiple trips as a child to the Summer Palace in Beijing and the Great Wall — majestic but also
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Emerging-Market Currencies Rangebound After US, Chinese Data
Wall Street Journal
By Georgia Wells. Emerging-market currencies traded in a narrow range Thursday, caught between weak Chinese economic data and an upbeat reading on U.S. weekly jobless claims. U.S. filings for initial jobless claims fell by 6000 to 361000 in the week
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Loonie’s strength tests Canada-US trade
MarketWatch
Also supporting the Canadian dollar are such mega-deals as the pending $15 billion all-cash merger struck between Canadian oil company Nexen (US:NXY) and China’s Cnooc Ltd. (US:CEO), said Nakamoto. “Acquisitions tend to increase the dollar … When
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9 on trial in China over teenager’s sale of kidney for iPad and iPhone
CNN
The likelihood of the defendants’ being found guilty is high: Chinese criminal courts convicted 99.9% of the people who stood trial in 2010, a U.S. State Department report said, citing the Chinese Supreme People’s Court. Is technology making us crazy?
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