Newsletter Oct 9, 2024

Quick Six

China raises 'serious concern' about trade amid US curbs
The US and China argued about trade between the world's two biggest economies on Tuesday, with China's commerce minister urging Washington to lift sanctions on his country's firms "as soon as possible". Chinese Commerce Minister Wang Wentao's call with US Commerce Secretary Gina Raimondo was described by Beijing as "candid, in-depth and pragmatic". It comes after sharp US tariff hikes on Chinese electric vehicles, EV batteries and solar cells took effect -- with levies also placed on other products.
SEE HOW THE US PLANS TO BAN CHINESE TECHNOLOGY

US states file suit against TikTok for targeting young users
A group of 14 US states on Tuesday filed lawsuits accusing TikTok of ensnaring young users with addictive features and targeted ads, harming their minds and violating their privacy. The wave of local court lawsuits demanding corrective measures and financial penalties comes as the popular video-snippet sharing app faces a ban in the US if it remains owned by China-based ByteDance. TikTok called the claims inaccurate and misleading.
SEE WHY THE 14 STATES ARE TAKING TIKTOK TO COURT

Hurricane Helene damage could cost private insurance $14B
Hurricane Helene losses covered by private insurance companies is estimated at $11 billion, according to Moody's, which said the deadly storm that tore across the southeast will be between $8-14 billion. The Moody's RMS estimate represents insured losses caused by wind, storm surge and precipitation-induced flooding. The company says losses to the National Flood Insurance Program from Hurricane Helene could reach more than $2 billion.
HURRICANE MILTON READY TO GIVE FLORIDA A 1-2 PUNCH

You Might Like

Markets

DJIA	42,080.37	0.30%
S&P 500	5,751.13	0.97%
Nasdaq Composite	18,182.92	1.45%
Japan: Nikkei 225	39,172.30	0.60%
UK: FTSE 100	8,190.61	-1.36%
Crude Oil Futures	73.67	0.14%
Gold Futures	2,638.10	0.10%
Yen	148.14	-0.04%
Euro	1.10	-0.06%
* As of market close

New poll gives Harris slight lead over Trump

Kamala Harris has taken a slim lead over Donald Trump in the US presidential race, a new poll showed Tuesday, as the Democrat slammed her rival for "weakness" during a late media blitz before the election. Vice President Harris and Republican former president Trump, who was doing a three-hit airwaves blitz of his own Tuesday, are tied as they scramble to get out the vote and reach undecided voters. The overall result is in line with an aggregate of national polling collated by RealClearPolitics.com, which has Harris ahead by 2 percentage points.

HARRIS ON THE OFFENSIVE, ATTACKS TRUMP ON MEDIA BLITZ

Biden pitches $90B plan to fix water pipes

President Joe Biden on Wednesday set a 10-year deadline for American cities to replace their lead pipes -- a massive project that an industry group said could cost more than $90 billion, mostly paid for by water customers. The largest city in the swing state of Wisconsin has the fifth-highest number of lead pipes in the US. Biden's announcement of a new EPA rule governing lead in water came a decade after the crisis in Flint, highlighting the continuing dangers of lead in tap water.

WHO WILL PICK UP THE TAB FOR WATER PIPE REPLACEMENT?

Hurricane Milton shuts down Disney parks

Walt Disney World and all the major Orlando-area theme parks are closing ahead of Hurricane Milton, a Category 4 storm churning toward a projected landfall in central Florida. Disney's affiliated parks will start closing Wednesday afternoon, including Animal Kingdom, Hollywood Studios, Magic Kingdom, EPCOT, as well as SeaWorld and Universal Studios. Magic Kingdom is closing for only the 12th time in 53 years.

WHY IT'S A RARITY FOR DISNEY TO SHUT DOWN OPERATIONS

Extra point

Disney World's Magic Kingdom has only closed 12 times in its 53-year history -- 10 times for hurricanes. What caused the other two closings?

Tuesday's answer: Tesla's original co-founders were Martin Eberhard and Marc Tarpenning in 2003, with Ian Wright joining a short time later. Elon Musk joined the board in February 2004 and later became CEO.

IBTimes will always protect your security and privacy. Please read our detailed Privacy Policy. Please do not reply to this email. Click here to adjust your notification preferences or unsubscribe.