South Korea seeks US help in bitter trade spat with Japan. Asian shares advance after Fed signals US rate cut likely. The Latest: Markets end up after Powell hints at rate cut.
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The Early Bird Newsletter

Thursday, July 11th

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South Korea seeks US help in bitter trade spat with Japan
Politics

South Korea seeks US help in bitter trade spat with Japan

South Korea is seeking U.S. help in a bitter diplomatic row with fellow American ally Japan over its moves to tighten controls on high-tech exports. The government said Thursday that Foreign Minister Kang Kyung-wha discussed the issue with U.S. Secretary of State Mike Pompeo by phone ...

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Dilip Patel
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Asian shares advance after Fed signals US rate cut likely

Shares rose Thursday in Asia, tracking gains on Wall Street after Federal Reserve Chairman Jerome Powell suggested the U.S. central bank is ready to cut interest rates for the first time in a decade. Hong Kong's Hang Seng jumped 1.2% to 28,539.74 while the Shanghai Composite index add...

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Jerome Powell
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The Latest: Markets end up after Powell hints at rate cut

The Latest on Federal Reserve Chairman Jerome Powell's presentation of the Fed's semi-annual monetary report to Congress. (all times local) 7:20 p.m. Testimony by Chairman Jerome Powell to a House Committee about the economic outlook led investors to send stock prices u...

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Jerome Powell
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Powell's message to Congress: Rate cut is likely coming soon

Pointing to a weaker global economy, rising trade tensions and chronically low inflation, Chairman Jerome Powell signaled Wednesday that the Federal Reserve is likely to cut interest rates late this month for the first time in a decade. Delivering the central bank's semiannual report ...

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Jerome Powell
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Many Fed officials saw stronger case for rate cut last month

Most Federal Reserve officials expressed concern at a meeting last month that the outlook for the U.S. economy was weakening, and many said the Fed should soon cut rates if uncertainty continued to weigh on growth. Some businesses, particularly in manufacturing, have pulled back on sp...

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Tensions over history, North keep Japan, South Korea at odds
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Tensions over history, North keep Japan, South Korea at odds

Japan and South Korea, two major U.S. allies, are again at odds, this time over Tokyo's decision to tighten controls on exports of sensitive materials that are mainly used in computer chips and display screens used in TVs and smartphones. The tensions reflect animosities that have persisted for deca...

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Businesses find problems, pitfalls in making goods overseas
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Businesses find problems, pitfalls in making goods overseas

Danica Lause manufactured knitted hats in China for four years and struggled the whole time. "I was unable to achieve the level of quality control our brand requires in any of the factories we worked with in China," says Lause, whose company, Peekaboos, makes hats with openings for we...

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China's largesse in Tonga threatens future of Pacific nation
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China's largesse in Tonga threatens future of Pacific nation

The days unfold at a leisurely pace in Tonga, a South Pacific archipelago with no traffic lights or fast-food chains. Snuffling pigs roam dusty roads that wind through villages dotted with churches. Yet even in this far-flung island kingdom there are signs that a battle for power and ...

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Trump trade representative to investigate French tech tax
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Trump trade representative to investigate French tech tax

The White House is launching an investigation into France's proposed tax on internet giants like Google, Amazon and Facebook — a move that could lead to U.S. taxes on French imports. U.S. Trade Representative Robert Lighthizer expressed concern that the tax, expected to be passed by t...

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Report: PG&E ignored repairs on aging power lines
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Report: PG&E ignored repairs on aging power lines

A report in the Wall Street Journal says Pacific Gas & Electric, which is blamed for some of California's deadliest recent fires, knew for years that dozens of its aging power lines posed a wildfire threat but avoided replacing or repairing them

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Anthony Rendon
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California Democrats turn up pressure on gig economy

The battle between California lawmakers and ridesharing companies such as Uber and Lyft heated up Wednesday as Assembly Speaker Anthony Rendon offered harsh words laced with expletives for businesses in the gig economy. "They use a lot of really cute words basically to describe the sa...

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Virgin Orbit conducts drop-test of rocket from Boeing 747
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Virgin Orbit conducts drop-test of rocket from Boeing 747

Virgin Galactic's sister company Virgin Orbit conducted a drop test of its air-launched satellite booster over California on Wednesday, a key step toward space missions. The 70-foot (21.3-meter) LauncherOne rocket was released from a Boeing 747 flying 35,000 feet (10,668 meters) over ...

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Ukraine: Chernobyl's radioactive dust shelter unveiled
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Ukraine: Chernobyl's radioactive dust shelter unveiled

Ukraine's President Volodymyr Zelenskiy on Wednesday inaugurated a giant structure built to confine radioactive debris at the nuclear reactor that exploded in Chernobyl in 1986. The confinement structure for the Chernobyl nuclear power plant's Reactor No. 4 cost 1.5 billion euros (alm...

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