Columbus, OH

Business Insider

The US became Germany's top trading partner, ending an eight-year streak by China. The shift reflects competition over electric vehicles.

Trade between the US and Germany is growing. Concerns over China might be driving the shift.

Reuters

(Reuters) - A look at the day ahead in U.S. and global markets from Mike Dolan. The shock shooting on Saturday of former President Donald Trump, who is seeking a return to the White House, is reverberating around world markets, with bets that the incident boosts his re-election chances steepening the Treasury yield curve and lifting stock futures first thing.

Morning Bid: Trump hit steepens curve; China's economy judders

A property crisis, local government debt, weak demand and unemployment are hurting China's economy.

Xi tackles slow growth as economy 'hits the brakes'

WashingtonExaminer

The Chinese economy has slumped to its slowest rate in five quarters. It is in danger of faltering if solutions are not found at the Third Plenum meeting, particularly to the long-term property crisis. If a solution is not found, it should raise concerns for the international community. Past outcomes of the Plenum have changed […]

The Chinese economic slowdown should concern the global community

Business Times

China's central bank, the People's Bank of China (PBOC), maintained its key policy rates unchanged on Monday, signaling a likely hold on the benchmark lending rate later this month. This decision comes as the nation grapples with mounting pressures on its currency and a slowing economy.

China's Central Bank Holds Rates Steady Amid Yuan Pressure and Economic Slowdown

China says it’s opposed to proposed American investment restrictions on its tech industry — and that it reserves the right to take action against the measures. The country’s commerce ministry said Monday that the U.S. should “stop politicising and weaponising economic and trade issues, and lift investment restrictions on China,” according to Reuters.

China warns the U.S. it's ready to fight back against restrictions on tech investments

Chicago, IL

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Foodie in Chicago

Shortly before 3 AM, people in the Chicago area may have felt their houses shake as a 3.4-magnitude earthquake occurred about 60 miles west of the city. (CHICAGO) The United States Geological Survey (USGS) reported a 3.4-magnitude earthquake around Somonauk, IL. Somonauk is in DeKalb and LaSalle Counties, 64 miles west of Chicago.

Did You Feel the Earthquake?

Virginia State

Cheryl E Preston

You may have seen tennis shoes across telephone wires in Virginia and wondered about their significance.I was initially told this was done in honor of someone who had died from gun violence in the area.

Tennis shoes on wires across Virginia have different meanings

Markets Insider

Politicians who champion trade restrictions on China are in for a rude awakening, Kenneth Rogoff warns. According to the Harvard professor, barriers on free trade with the Asian powerhouse are a recipe for economic fallout. He sees the results being price increases in the US, as well as political backlash.

The US battle against Chinese trade could hurt the Americans it's supposed to protect, Harvard professor says

Margaret Minnicks

WVTF reported that a new Virginia law will become effective on July 1, 2024. The law will prevent utility companies from disconnecting services on various occasions, which could leave someone without power for days.

A new law will keep utilities from being disconnected on weekends and holidays in Virginia

HuffPost

After Joe Biden’s dismal showing at a recent U.S. presidential debate, Filipinos are bracing for another round of "America First."

The Philippines Finds Itself Trapped Between Surging Trump And Rising China Tensions

Fox News

Actress Ashley Judd called for President Biden to step aside, doing so by attacking former President Trump and her loved ones who plan to vote for him.

Actress Ashley Judd calls for Biden to step aside, says Trump supporters in her family leave her ‘shaken’

Denver, CO

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David Heitz

The Denver City Council voted Monday to spend $5 million to shuffle 250 homeless people from the street directly into leased housing. The contract goes to Housing Connector, which has experience in such matters, according to a memo from city staff to the City Council. Extra money is included in the contract for things such as unexpected repairs, said Midori Higa of the Department of Housing Stability. She said if someone has a bad day and breaks a window, a replacement will be covered.

$5 million will move 250 Denver homeless people into apartments, city says

On July 9, Ruchir Sharma, Chairman of Rockefeller International, shared his insights on CNBC’s “Closing Bell Overtime” regarding the emerging opportunities in global markets, particularly as the U.S. economy shows signs of deceleration. Rockefeller International, part of Rockefeller Capital Management, provides a range of financial services, including...

U.S. Economy Could Come to a ‘Virtual Standstill’ in Next 6 Months, Warns Rockefeller International Chairman

WASHINGTON (Reuters) - The U.S. may need to take further and "more creative" actions beyond tariffs to protect U.S. industries and workers against China's growing excess industrial capacity, the U.S. Treasury's top economic diplomat said on Wednesday.

US needs stronger defenses against China's overcapacity, Treasury official says

California State

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The HD Post

CALIFORNIA – Starting July 1, landlords will only be allowed to collect one month’s rent for the security deposit on a rental property. Assembly Bill 12, signed into law last October, says regardless of whether the residential property is unfurnished or furnished, only one month’s rent can be charged in addition to any rent for the first month paid on or before initial occupancy.

Law limiting security deposits goes into effect July 1

Kentucky State

Northern Kentucky Tribune

Kentucky’s Community Actions Partnerships have announced the starts date for the Low-Income Home Energy Assistance Program (LIHEAP) Summer Subsidy, aimed at helping Kentucky households offset summer cooling costs.

LIHEAP Summer Subsidy program to help with summer cooling costs to begin enrollment July 16

Robert Rapier is a chemical engineer who works in the energy industry. Robert has over 20 years of international engineering experience in the chemicals, oil and gas, and renewable energy... In June, the Energy Institute released the 2024 Statistical Review of World Energy. The Review provides a comprehensive picture of...

U.S. Oil Production Develops Massive Lead Over Russia And Saudi Arabia

While U.S. retail spending was unchanged in June, the data was better than the decline economists expected. Weak motor vehicle sales are partly attributed to a cyber attack that disrupted data collection. Retail sales data feeding into gross domestic product (GDP) calculations show that the economy in the second quarter...

US Consumer Spending Remains Surprisingly Resilient

Global markets reacted to the attempted assassination of Donald Trump with a surge of bets that could pay off if the former US president wins in November. Shares of Trump Media rose 30%; the price of bitcoin reached its highest level in two weeks; and South Korean defense and nuclear energy stocks climbed. It’s based on “anticipation that the Republican’s return to the White House would usher in tax cuts, higher tariffs and looser regulations,” Bloomberg wrote.

Global markets bet on Trump

NewsBreak

China’s economic growth slows, as key economic meeting begins

China’s economic growth missed forecasts by a wide margin, slowing to an annual rate of 4.7%. The underwhelming figures highlighted Beijing’s failure to...

China’s economic growth slows, as key economic meeting begins

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