China keeps growth target at 6.5 percent, stays focused on financial risks

China aims to expand its economy by around 6.5 percent this year, the same as in 2017, while pressing ahead with its campaign to reduce risks in the financial system, Premier Li Keqiang said Monday. The goal was kept unchanged even though the economy grew 6.9 percent last year and exceeded the government's target. Sources previously told Reuters that China will maintain its growth target at "around 6.5 percent".

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  China keeps economic growth target of around 6.5 percent this year

  Reuters
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  China Sets 2018 GDP Target at About 6.5% as Stability Push Intensifies

  Bloomberg

Businesses 'need to have a business plan' which reflects ...

Of all the major markets that international companies operate in, "China is going to have the most volatility", says Frank Lavin of Export Now.

Trump Tariffs Are a Gift for OPEC and Russia. Not Shale

President Donald Trump's planned 25 percent import tariff on steel is a gift to OPEC and Russia. Steel used in oil pipelines has to meet rigorous technical specifications to ensure it doesn't corrode or fracture during a lifetime that may well exceed 30 years -- far longer than that of a domestic appliance or an automobile.

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  Trump Declares Trade Wars Good and ‘Easy to Win’

  Dispatches From the Culture Wars
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  Trump Threatens to Tax European-built Cars as Trade War Rhetoric Builds

  VOA News

JPMorgan, HSBC Among Banks to Help Manage Saudi Dollar Bond

Saudi Arabia selected banks including JPMorgan Chase & Co. and HSBC Holdings Plc to help arrange the sale of a dollar-denominated bond, people familiar with the matter said, as the kingdom seeks to plug its budget deficit. Goldman Sachs Group Inc. and Citigroup Inc. will also manage the offering that may happen as soon as this month, the people said, asking not to be identified because the information isn’t public. The Saudi Finance Ministry declined to comment.

Uber CEO Calls MIT Study About Driver Pay ‘Incompetent’

Uber and its CEO, Dara Khosrowshahi, pushed back swiftly against a new MIT study claiming that the median income for Uber and Lyft drivers is just $3.37 per hour, and that 30% are actually losing money while they work. On Twitter, Khosrowshahi wrote that "MIT = Mathematically Incompetent Theories," and shared a response from the company's chief economist, Jonathan Hall. MIT = Mathematically Incompetent Theories (at least as it pertains to ride-sharing).

• Uber Challenges Study Suggesting Its Drivers Earn $3.37 Per Hour

  Tech News Tube
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  Report: Uber And Lyft Drivers Often Make Less Than Minimum Wage

  Yahoo View

SM Investments' Sy-Coson on Record Numbers

Mar.04 -- SM Investments Vice Chair Teresita Sy-Coson discusses the company's performance and her investment thoughts. She speaks on "Bloomberg Markets." (Video edited to remove incorrect graphic.) (Corrects spelling of guest's last name.)

Treasury Yields Pop on Fear of Trade War, More Robust Inflation

U.S. Treasury yields rebounded on Friday in reaction to President Trump’s tariff announcement on Thursday that sparked fear of a trade war and more robust inflation. According to Treasury data, the yield on the benchmark 10-year Treasury Note rose 6 basis points to 2.868 percent, while the yield on the 30-year Treasury Bond was up 6 basis points at 3.143. Some are saying that top Chinese officials could retaliate against unfriendly tariffs by reducing purchases of U.S. debt in the coming years, even as the Treasury Department prepares to increase supply.

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  Signs of the booming economy that a trade war could derail

  New York Post
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  China says it does not want a trade war with U.S.

  Reuters

THE INSURTECH REPORT 2.0: The technologies disrupting the insurance industry and what incumbents can do to stay ahead

This report from Business Insider Intelligence, Business Insider's premium research service, will briefly review major changes in the insurtech segment over the past year. It will then examine how startups and legacy players across the insurance value chain are using technology to develop new business models that cut costs or boost revenue, and, in some cases, both. The fundamentals of insurance — policy creation, underwriting, and claims management — are starting to experience true disruption, while innovation in reinsurance has also continued at pace.

Why Corporate America Hates Trump’s Tariffs Proposal

President Donald Trump has proposed tariffs on aluminum and steel that he says will put the country first. While the policy would hit the auto and aerospace industries hardest, it would also have ramifications for a wide range of businesses — and products that Americans purchase daily. Beer, soft drinks, candy, canned soup and even pharmaceuticals rely on aluminum for packaging.

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  Trump's Steel, Aluminum Trade Threat Hangs Over Nafta Talks

  Bloomberg Video
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  Tariff Impact Stretches to Copper, Gold, Crude Oil

  FX Empire

Bitcoin Moves Ahead, with $12,000 in its Sights

Bitcoin had quite a week last week, gaining 14.08% Monday through Friday’s end of day $11,052.62. Friday saw Bitcoin and the cryptomarket struggle for direction, in spite of the strong weekly gain for Bitcoin, with Bitcoin gaining just 1.28%, with a mid-day sell-off seeing Bitcoin fall to an intraday low $10,774.01, testing its first major support level of $10,829 before moving back through to $11,000 levels by the close. Bitcoin’s dominance has been on the rise this year and now sits at 41.4%, the highest level since December of last year, which is reflected in Bitcoin’s rise in market cap, which now sits at $192.28bn, still well below its December peak $323.8bn, but well above this year’s $103.02bn low.

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  Bitcoin Back in the Red and Holding on to $11,000

  FX Empire
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  Bitcoin Cash, Litecoin and Ripple Daily Analysis – 04/03/18

  FX Empire

MIT study that found low pay for Uber drivers to be revisited

The study, by the MIT Center for Energy and Environmental Policy Research, found that drivers' median pretax profit was $3.37 per hour, using results from a survey of more than 1,100 workers of the ride hailing companies. Uber and other companies have defended their business models saying their drivers enjoy the flexibility of their work and on average earn more than the minimum wage, but have lost a series of court cases on the issue. Khosrowshahi criticized the MIT study in a tweet on Friday as "Mathematically Incompetent Theories (at least as it pertains to ride-sharing)," and linked to a response by Uber chief economist Jonathan Hall that challenged the study's methodology.

• Uber Challenges Study Suggesting Its Drivers Earn $3.37 Per Hour

  Tech News Tube
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  Report: Uber And Lyft Drivers Often Make Less Than Minimum Wage

  Yahoo View

USD/JPY Fundamental Weekly Forecast – Trade War Fears Could Make Yen Desirable Asset

The Dollar/Yen closed sharply lower last week after posting a volatile two-sided trade. The dollar was supported as the spread between U.S. government bond yields and Japanese government bond yields widened due to hawkish comments from Fed Chair Powell. The Forex pair weakened after President Trump announced tariffs on steel and aluminum, triggering a collapse in the stock market.

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  Trump and May blame Russia, Syria for E.Ghouta suffering

  ABS-CBN News
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  WH to WTO: 'We're not going to take it anymore'

  CNN

3 Charts to Know: Top Sector Losers from Trump's Tariffs

U.S. investors are steeling themselves for Donald Trump's expected official sign-off on global tariffs on steel and aluminum. Bloomberg's Ramy Inocencio reports on which sectors and companies are likely to be the biggest losers on "Bloomberg Daybreak: Asia." RAMY INOCENCIO AT THE WALL TAKING A LOOK AT THE LIKELY LOSERS HERE IN A GLOBAL TRADE WAR. LOOKING AT WHAT WE HAVE IDENTIFIED HERE ON BLOOMBERG NEWS, THESE ARE THE TOP FIVE SECTORS THAT WILL BE NEGATIVELY IMPACTED BY THESE TARIFFS ON STEEL AND ALUMINUM IF THAT HAPPENS AS EXPECTED LATER THIS WEEK.

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  Trump's tariffs are for places where he needs to win back support

  CNN
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  Electrolux suspends $250 million U.S. investment after steel tariff announcement

  Digital Trends