Wednesday, 21 August, 2019

Goldman Sachs lowers U.S. fourth quarter GDP forecast

Containers reading 'China Shipping' and 'Cosco Shipping'  sit on the docks at the Los Angeles Port in Los Angeles California USA on Aug 8 2019 Goldman Sachs Lowers Growth Forecast amid Recession Fears Due to Trade War with China
Russell Knight | 13 August, 2019, 08:38

Goldman Sachs Group is raising concerns of a U.S. recession as the trade war with China intensifies, boosting the impact on economic growth.

Goldman Sachs said it lowered its fourth-quarter US growth forecast by 20 basis points to 1.8 per cent on a larger than expected impact from the developments in the trade tensions.

"We have increased our estimate of the growth impact of the trade war", said Goldman Sachs chief USA economist Jan Hatzius in a note to clients Sunday.

"Overall, we have elevated our estimate of the expansion impression of the trade conflict", the bank mentioned in the note authored by three of its economists, Jan Hatzius, Alec Phillips and David Mericle. It again said it no longer expects a trade deal between ongoing U.S.

Goldman Sachs affirmed its expectation Trump's new round of tariffs will be implemented on Sept.1.

Celtics Schedule: NBA Reveals Boston’s Slate For 2019-20 Regular Season
It will also be the first time in franchise history that the Celtics will play outside of the US on Christmas Day. The Celtics will open on the road in Philadelphia on Wednesday, October 23, at 7:30 p.m.

Fire at 24-hour day care kills four siblings and owner's child
The children haven't been formally identified, but the Erie Fire Department says the dead range in age from 8 months to 7 years. Still, the day care received a full fire inspection on December 28, 2018, and was found to be in compliance.

Watch Bray Wyatt's Insane WWE Summerslam Entrance
All these symbols have been a true testament to the deep story-telling WWE has woven into Bray Wyatt over the past few months. As for the match itself, it served its objective in re-establishing Bray Wyatt as a big star in the WWE.

"We expect tariffs targeting the remaining $300bn of U.S. imports from China to go into effect", said Goldman.

Goldman Sachs said it lowered its fourth-quarter United States growth forecast by 20 basis points to 1.8% on a larger than expected impact from the developments in the trade tensions. China allowed its currency to weaken, crossing the 7 yuan-per-dollar threshold, making that country's products cheaper on the global market, while also announcing it would halt imports of agricultural goods from the US. China quickly retaliated by banning purchases of USA agricultural products such as soybeans. In an earlier note to investors, Goldman asserted "a trade deal now looks far off" as Chinese policymakers seem more and more inclined not to make major concessions.

'The business sentiment effect of increased pessimism about the outlook from trade war news may lead firms to invest, hire, or produce less, ' according to the note. Trump's new 10 percent levy he announced July 31 also figured prominently in Goldman's downbeat assessment. He said that despite the risks, a crisis of the magnitude seen during the previous recession "would be a great surprise".

The People's Bank of China, however, denied using their currency to undermine the USA position and blamed fall in the Yuan on the trade war and disrupted economy.

Recommended

Burford alleges manipulation of shares around Muddy Waters attack Burford alleges manipulation of shares around Muddy Waters attack Muddy Waters described Burford as being a "perfect storm for an accounting fiasco" with "laughter-inducing" corporate governance. Finding what it believes to be evidence of illegal market manipulation of its shares last week, Burford C.

Hong Kong airport suspends check-ins due to protests Hong Kong airport suspends check-ins due to protests But in recent years, some have accused the Communist Party-ruled central government of steadily chipping away at their freedoms. Only flights that had already begun boarding or those cleared for landing were allowed to use runways at the airport.

Taylor Swift Has a New Song Coming on Friday! Taylor Swift Has a New Song Coming on Friday! The 29-year-old was introduced to the stage by Alex Morgan , who won the World Cup with the USA women's football team in July. There were plenty of surfboards to hand out at the 2019 Teen Choice Awards on Sunday night.

US attorney: Epstein abuse probe steadfast despite his death US  attorney: Epstein abuse probe steadfast despite his death But without the results from the post mortem examination, questions still loom regarding the precise cause of Epstein's death. The staff at the facility also failed to follow protocols on the day of Epstein's August 10 death, while in custody.

Varun Dhawan steps into Govinda’s shoes in Coolie No. 1: See posters Varun Dhawan steps into Govinda’s shoes in Coolie No. 1: See posters Mumbai: The adaptation of the cult comedy film Coolie No 1 has been in the news ever since the film got announced. Not just her debut film Kedarnath , but her second film Simmba also released in the same month of December.

All Flights Cancelled Out Of Hong Kong Airport Amid Democracy Protests All Flights Cancelled Out Of Hong Kong Airport Amid Democracy Protests The flight cancelations left many visitors stranded in the airport, surrounded by scores of protesters. Police stormed a number of underground train stations, firing tear gas and arresting protesters.

No-Deal Brexit Could Deepen Europe's Shortage of Medicines No-Deal Brexit Could Deepen Europe's Shortage of Medicines The US president branded Johnson as Britain's Trump and said the sides were on the verge of making a breakthrough in ties. This month, Britain joined the United States in a maritime security mission in the Gulf to protect merchant vessels.

Death toll in Myanmar landslide climbs to 56 Death toll in Myanmar landslide climbs to 56 The intense monsoon rains have also forced the evacuation of almost 38,000 people across the country, according to the UN. A deluge of mud had descended on Thae Pyar Kone village in Monday state on Friday, and washed out homes and a monastery.

Bodies Found in Manitoba Confirmed to be Wanted Murder Suspects Bodies Found in Manitoba Confirmed to be Wanted Murder Suspects Four days later on another BC highway, the Royal Canadian Mounted Police allege the teenagers murdered botanist Leonard Dyck. They were also wanted in the murder of a young tourist couple - Australian Lucas Fowler and American Chynna Deese.

Henry Onyekuru: Everton sell Nigeria forward to Monaco Henry Onyekuru: Everton sell Nigeria forward to Monaco But the French club stated clearly that the 54-year-old was not sacked at the club, but left on mutual agreement. He will replace Nacer Chadli at Monaco, who is leaving to join Anderlecht.

India want Davis Cup tie moved from Pakistan amid rising tensions India want Davis Cup tie moved from Pakistan amid rising tensions Pakistan has downgraded diplomatic ties with India amid a lockdown in India-administered Kashmir and stopped a cross-border train. If the tie takes place as per the schedule, India will travel to Pakistan to compete in a Davis Cup fixture after 55 years.

Fortnite World Champ "Bugha" swatted during Sunday livestream Fortnite World Champ Part of what makes swatting so unsafe is the potential for law enforcement to harm the swatting target or their loved ones. After Bizzle clutched up and won the game, he and Dubs were trying to figure out what happened to Bugha .

Manchester City Defeat Won't Define Our Season, Says West Ham Star Manchester City Defeat Won't Define Our Season, Says West Ham Star The one damning verdict of West Ham's defeat was the roar the fans gave as if they had scored a goal. It is going to change the dynamic - not just for the team but also for the spectators.

Chelsea boss Frank Lampard frustrated after heavy loss at Manchester United Chelsea boss Frank Lampard frustrated after heavy loss at Manchester United Manchester United were in need of a fast start to the campaign to erase memories of a awful end to last season and got it. He entered the fray as a second-half substitute with United scoring just seven minutes after he came on.

Argentinian peso crashes on surprise election outcome, USD/ARS rises more than 30% Argentinian peso crashes on surprise election outcome, USD/ARS rises more than 30% Argentina's opposition leader Alberto Fernandez , won the primary elections on Sunday securing, 47.37% of votes. Fernandez's lead far exceeded the margin of 2-8 percentage points forecast in recent opinion polls.