Good morning Thursday. Breaking: He says that China intends to bring a set of preconditions to the US on trade dealings, t according to the WSJ. More about that below. (Has this email been sent to you? Sign up here.)
The Democratic Party 2020 could not agree on how to reform the economy
The Democratic presidential conductors who took part in the debate last night agreed that the economic policies of President Trump were hampering America. But they were different – sometimes sharp – how to fix it.
• Senator Elizabeth Warren the government wants to stop oil and pharmaceutical companies, and replace individual health insurance with individual health care.
• Senator Amy Klobuchar they questioned liberal policies as an individual payer's health care and instead demanded modest alternatives such as a government-supported optional health insurance plan.
• Senator Cory Booker He said that he felt strongly about “the need to check corporate consolidation,” but not being able to support Mr Warren's call to break up technical giants such as Facebook and Google.
• Beto O Rourke want to answer a question about how high it could raise the marginal tax rate for wealthy people, saying, “I want to support a tax rate and tax code that is fair to everyone.” t
• Representative John Delaney He recommended that Medicare-for-all be enacted It could break up hospitals across the country.
Main take-away food According to the candidates, America must move left on fiscal policies. But they cannot agree on the recommendations like Medicare-for-all the answer.
Mr. Trump's campaign responded arguing that the Democrats were proposing that “the government would radically take American society that would end the American Dream so that many people have access to the growing Trump economy.
We will hear more from 10 other Democratic competitors – including Joe Biden, Senators Bernie Sanders and Kamala Harris, and Mayor Pete Buttigieg from South Bend, Ind. – tonight at 9 p.m. East.
Andrew Ross Sorkin wrote Today's DealBook in New York, and Michael J. de la Merced and Jamie Condliffe in London.
Trump refuses to deny China more tariffs
Days before a central meeting with President Xi Jinping of China at the 20 summit meeting in Japan – a moment of momentum or negotiating breaks for trade discussion – President Trump succeeded in reaching the agreement.
“B may be my Plan B my Plan A,” the president said in an interview with Fox Business yesterday. “My Plan B is, if we don't deal, that I'll make a tariff and maybe I don't have 25 percent, but maybe at 10 percent, but I tariff the rest of the $ 600 billion which we are discussing. ”
It also protected the use of levies, The NYT was written by Ana Swanson and Adam Satariano. He argued that they forced Mexican to fight a deal on immigration and encouraged companies to abandon China, at a great cost to the Chinese economy.
China was “90 per cent” before the talks fell, Mr Trump said. But he argued that the United States would not back the important demands, and that they still need provisions as protections for American intellectual property and for China to open its market to foreign companies.
Negotiations are resuming. "Mr Trump held a call with Mr Xi last week, and addressed Treasury Secretary, Steven Mnuchin and Robert Lighthizer, the main trade negotiator, with his colleague, Liu He, Deputy Principal of China, Monday," reported by NYT.
But China could be playing hard. He says that Mr Xi intends to issue a set of preconditions which the United States must fulfill before Beijing which would extend an agreement, WSJ reports, citing anonymous sources. These include the withdrawal of Huawei's ban, raising all punitive tariffs and the ongoing demands that China buys more US exports.
So this G-20 meeting is now much. It is “being widely viewed as an attempt to get the negotiations back,” says the WSJ, adding that “people are close to the talks in the White House and out of the White House caring for prospects. too hopeful for the meeting. ”
Bigger: American tariffs on Chinese goods are being cut as goods launched through other Asian countries, especially Vietnam. And the ideological fight between Washington and Beijing it may survive for a long time.
A new bug could keep the 737 Max based
Pilots tested erroneous activation of anti-stall software those considered to cause two fatal crashes in the past year, anonymous sources told the NYT. The software pushes down the nose of the plane.
Pilot project could not follow Boeing instructions quickly and easily to control the plane to get back, and rated the failure as disastrous. The case tested during a normal flight is unlikely, but the F.A.A. he wants to arrange it anyway.
The problem is linked to a specific flight control computer chip, the sources told the NYT. It created a delay in the pilot to put an important step in stabilizing the jet.
“The discovery could take confidence from the assurances Boeing hasIn discussions with regulators, airlines and aviation unions, well trained pilots can easily deal with software malfunction based on their understanding of standard emergency procedures, ”Ms. Kitroeff and Ms. Hsu.
Bigger: Boeing I will not rename the 737 Max.
Trump continues to attack Jay Powell
President Trump was not happy when the Fed did not have lower interest rates last week, although the central bank indicated that it would do so later this year. And it will not allow the question to go.
“This is a man, no one has ever heard it before, and now I did it and he wants to show how hard it is? ”Mr Trump, Jay Powell, chairman of the Fed said yesterday. “He's not doing a good job.” T
The time is, say, odd. Mr Powell himself proposed on Tuesday that the FED could lower interest rates if economic conditions deteriorated – partly as a result of Mr.'s trade war. Trump.
It seems that President Mario Draghi would have preferredpresided over by the president of the European Central Bank. “We should have a Draghi, instead of our fed person,” he said, just after criticizing Mr Draghi for trying to promote the European economy.
Mr Trump again discussed Mr Powell's position. “I have the right to discourage it, I have the right to fire it,” he said, before he added, “I never suggested that I was going to do that.” Mr Powell to be fired, but it is unclear whether he could be discouraged.)
Mark Zuckerberg wants Washington to do more
Today at the Aspen Ideas Festival in Colorado, Facebook C.E.O. He acknowledged that his company continued to make mistakes – but he also said that the government was acting too late in its efforts to fix some of the biggest problems on the internet.
Facebook arose during the handling of the fake video Nancy Pelosi, he said. That's “He was mistakenly executed on our side, ”he said. “It took some time for our systems to put that emphasis on it and fact checkers would see it as false.”
The US government has not done enough to limit the effects of issues such as electoral interference, he said. From the Russian misrepresentation campaign in 2016, he said that “the signal sent to the world was‘ O.K. We are open for business. “Facebook's chief added,“ Countries can try to do this and our companies will do their best to limit it, but essentially, the American Government will not be of much benefit. ”
But he continued to play his responsibility. “As a private company we don't have the tools to stop the Russian government,” he said. “We can achieve the best possible protection, but our government is the one with the tools to put pressure on Russia, not us.”
Huawei employees were reported to have worked on Chinese military research
The Trump administration's concern that Huawei is a national security threat is due to its close connection with Chinese government. Now Bloomberg News reports that its employees collaborated on research projects with the Chinese defense team, bringing "closer links with the country's military than previously identified."
• “Over the past decade, Huawei workers have been working with members of the various organs of the Freedom of the People Army at least 10 research efforts involving artificial intelligence to radio communications.”
• “They include a joint effort with the Chief Military Commission's investigative branch – the main body of the armed forces – to achieve and categorize feelings in online video views, and an initiative with the National University of Ireland minority to explore and analyze ways of doing so. satellite images and geographical coordinates. ”
But Huawei says he was not authorizing the research. “Huawei is unaware of his employees publishing a research paper in their individual capacity,” said Bloomberg spokesman. “Huawei only develops and produces communications products that conform to civilian standards worldwide, and does not define military R&D products.” (It is worth noting that the research comes back to 2006.)
Bigger: Huawei says that in discussions with Verizon and other US companies over royalty payments for the use of its patented technology. it is laundering the globe for new suppliers. And it you lost a court case accused a United States chip designer of stealing trade secrets.
Carl Icahn He is looking for four seats on the Occidental Petroleum board, adding to his opposition to the purchase of the company Anadarko.
Tina Sharkey It is said that he went down as the C.E.O. the Brandless household goods manufacturer in March due to conflicts with the company's largest backup, SoftBank Vision Fund.
President Trump's allies are reported proposing that it be removed Kevin McAleenan as the Homeland Security secretary acting among the controversy about detention of migrants.
Bill Wehrum, which has helped drive forward pro-coal rules by the Environmental Protection Agency, will lead the regulator's air quality office.
Swiss name is named Re Russell Higginbotham as the C.E.O. its Asian reinsurance arm.
The read speed
• Receipts of more than $ 256 billion of drug manufacturers were announced this year. The investors are not happy with all of them. (DealBook)
• President Emmanuel Macron of France said that he does not think that his government would have to lower his part in Renault, after the administration had done his work with Fiat Chrysler. (Reuters)
• Private equity firms are pushing for capital of $ 2.5 trillion. Of course, Blackstone raised over $ 12 billion for its infrastructure fund and Warburg Pincus has raised $ 4.25 billion for a fund focused on China and Southeast Asia. (FT, Bloomberg, TechCrunch)
• F.C.C. Sinclair Broadcasting inquired about her disclosure made to regulators as part of her failure to buy Tribune. (Reuters)
Politics and policy
• The Supreme Court moved to limit the power of federal agencies, but refused to abolish two main precedents, until there were four conservative judges. (NYT)
• The Senate managed to run a $ 4.6 billion border financing bill which put fewer restrictions on the administration of the Trump than House praise, which began Combat. (NYT)
• The Seanad panel approved a bill package aimed at reducing the cost of prescription drugs. (NYT)
• The White House provided a new $ 50 billion investment fund for Palestinian projects as “the I.P.O.” The Palestinians have little interest. (NYT)
• Mark Carney, governor of the Bank of England, recommended that he would support an interest rate cut if the UK left the E.U. not to deal. (FT)
• European governments will seek to maintain economic links with Iran by encouraging a credit line to trade. (WSJ)
• Foreign investment in Britain has fallen to the lowest level in six years. (FT)
• Google, the University of Chicago and the University of Chicago Medical Center are inviting allegations that patient data has been shared with the technological company without the identification of identifiable date stamps or doctors' notes. (NYT)
• Reddit has limited access to a pro-Trump forum, stating that its users have violated rules that prevent material that encourages violence. (NYT)
• Would you pay $ 30 a month to check your email? A company called Superhuman is doing so betting. (NYT)
• President Trump criticized the chief executive of underwriting the E.U., Margrethe Vestager, arguing that her actions against high-tech companies show. (FT)
• Speaking about: The E.U. He ordered Broadcom to stop the alleged anti-competitive practices. (WSJ)
• N.S. Last year, for the second time, they have been reported to have inappropriately collected messages and text messages. (WSJ)
The rest is best
• Wayfair workers challenged the company's work with detention facilities for migrant children. Is there a customer boycott near him? (NYT)
• How hedge funds decide whether companies are worth investing memories to help them make a profit. (Business Insider)
• Carlos Ghosn will not receive unpaid retirement benefits of 4.44 billion, or about $ 41 million, from Nissan. (Bloomberg)
• The largest refinery on East Coast East, which suffered a massive explosion and fire last week, will close. (Bloomberg)
• Rich Americans are looking for higher taxes. Why don't they just start carrying out more checks on philanthropy? (WSJ editorial)
Thank you for reading! We'll see you tomorrow.
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