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It's been well over a couple of years since Apple officially announced the availability of iPhone SE in 2016 and since then the main iPhone line was upgraded on a regular basis but not the SE. But now we know why! Our source which is closely associated with Foxconn's manufacturing facility in India has confirmed the iPhone SE 2 is actually iPhone XE. According to the source, iPhone XE will feature an iPhone X or XS style edge-to-edge 4.8" AMOLED display, but sadly with the notch. The iPhone XE will be having Face ID and no Touch ID is reportedly...

The biggest Chinese newspaper explicitly warned the U.S. on Wednesday that China would cut off rare earth minerals as a countermeasure in the escalated trade battle, using an expression the publication has only used twice in history, both of which involved full-on wars. “We advise the U.S. side not to underestimate the Chinese side’s ability to safeguard its development rights and interests. Don’t say we didn’t warn you!” the People’s Daily said in a commentary titled “United States, don’t underestimate China’s ability to strike back.” The publication is the official newspaper of the Communist Party of China. The phrase “Don’t...

From the volume of bellicose rhetoric in China’s state media, you might think Beijing is digging in for a bloody fight to the finish in its trade conflict with the United States. But after the US administration this month jacked up import tariffs on US$200 billion of Chinese goods to 25 per cent, and threatened equal tariffs on another US$340 billion, the Chinese government faces a problem. The policy responses it is considering are all either impossible, impractical, ineffective or expensive. This leaves Beijing in an unenviable position. The usual trade-war response to the imposition of tariffs is to impose...

Allan Lichtman doesn't mind swimming against the political tide. Lichtman, a professor at American University in Washington, DC, was the most prominent voice predicting Donald Trump's victory in the run-up to the 2016 election. When Trump won, it marked the 9th(!) straight presidential election where Lichtman had correctly predicted the Electoral College winner. (That's all the way back to 1984, for you math wizards.) In short: Lichtman is someone the political world should listen to. So I reached out to him on Tuesday to see what he thought of Trump's current chances at a second term next November. Here's what...

While speaking at a meeting of Japanese business leaders in Tokyo, Trump said the stock market would be anywhere between 7,000 to 10,000 points higher if the U.S. central bank had chosen to keep interest rates steady. He also suggested that the growth rate in the U.S. would have exceeded 3 percent. "But they wanted to raise interest rates," he said. "You’ll explain that to me." Trump, despite hand-picking Chairman Jerome Powell more than a year ago, has been a frequent critic of the Fed, often urging policymakers to cut interest rates from the current target range of 2.25 percent...

A Republican ex-congressman and current Trump campaign adviser claimed President Trump, not the Obama-Biden administration, "owns" the economy in its current state. Former Rep. Jack Kingston, R-Ga., responded Monday on "The Story" to claims from 2020 presidential candidate Joe Biden, who charged Trump "inherited" a growing economy from himself and former President Obama. Biden made the original remarks at a Philadelphia rally earlier this month, telling the crowd at Eakins Oval that Trump was engaging in "alternative facts." "I know President Trump likes to take credit for the economy and the economic growth and the low unemployment numbers," Biden told...

TOKYO (Reuters) - U.S. President Donald Trump pressed Japanese Prime Minister Shinzo Abe on Monday to even out a trade imbalance with the United States and said he was happy with how things were going with North Korea despite its recent missile and rocket launches. Trump told a news conference with Abe after their summit that he wanted U.S. exports to be put on a fair footing in Japan through the removal of trade barriers. He said he hoped to have more to announce on trade very soon and said he and Abe had agreed to expand cooperation in human...

teven Rattner, "car czar" and counselor to the Treasury secretary in the Obama administration, cites three different modelers in his N.Y. Times commentary, "Trump’s Formidable 2020 Tailwind." The big picture: Trump wins all three modelers. Economists predict that the tailwind is large. Ray Fair, a professor at Yale, "found that the growth rates of gross domestic product and inflation have been the two most important economic predictors — but he also found that incumbency was also an important determinant of presidential election outcomes." "Mark Zandi, the chief economist at Moody’s Analytics, has looked at 12 models, and Mr. Trump wins...

The economy invariably ranks among the top issues on the minds of voters in presidential elections. At the moment, it appears to offer President Trump a meaningful tailwind. But how big is that tailwind? Fortunately, economists have worked hard to develop models for predicting election outcomes, and according to one of the best of these, it should be quite large. One of the first — and perhaps still the best — of these models was created by Ray Fair, a professor at Yale. He found that the growth rates of gross domestic product and inflation have been the two most...

Most Americans have never thought twice about intellectual property. But they should.The US Patent & Trade Office estimates that the intellectual property associated with 81 industries added $6.6 trillion to global GDP in 2014, the last year there’s data. That same year, IP-intensive industries accounted for a staggering 38% of U.S. GDP, a figure that may approach 50% today thanks to the speed at which technology is advancing.Our nation depends on it.So does your investment portfolio.A recent CNBC poll found that 1 in 5 American companies have reported that the Chinese have stolen intellectual property from them over the past...

Technology can be a beautiful thing. But in the matter of who wields it, it can be vital to distinguish friend from foe. The late historian Samuel Eliot Morison, in his classic 15-volume naval history of World War II, bequeathed us a "grimly humorous" anecdote from the aftermath of the 1942 Doolittle Raid on Japan -- in which, in order to surprise Japan with a retaliatory bombing less than five months after Pearl Harbor, two U.S. aircraft carriers, the Hornet and the Enterprise, sailed much closer to Japanese waters than Tokyo was expecting. After U.S. bombers took off from...

The American/China Chamber of Commerce found that 82 percent of American-owned manufacturers in China are suffering significant pain from Trump Trade War tariffs. ‘AmCham’ surveyed business conditions for its 900 member American-owned companies operating across China during the week of May 16-20, following President Trump’s announcement that he was raising tariffs on $200 billion U.S. imports from  China from 10 percent to 25 percent. The survey found that due to the U.S. action and the retaliatory Chinese response, American-owned companies in China reported that 52.1 percent were experiencing lower demand; 42.4 percent were experiencing higher manufacturing costs and 38.2...

New orders for U.S.-made capital goods fell more than expected in April, further evidence that manufacturing and the broader economy were slowing after a growth spurt in the first quarter.The slowdown was driven by exports and a buildup of inventories.Orders for non-defense capital goods excluding aircraft dropped 0.9% last month as demand weakened almost across the board, the Commerce Department said.Overall orders for durable goods, items ranging from toasters to aircraft that are meant to last three years or more, tumbled 2.1% in April. .... The renewed trade tensions are expected to weigh on exports, which earlier this year...

Lori Rodriguez, a 27-year-old communications professional in New York City, is not saving for retirement, and it isn’t necessarily because she can’t afford to — it’s because she doesn’t expect it to matter. Like many people her age, Rodriguez believes climate change will have catastrophic effects on our planet. Some 88% of millennials — a higher percentage than any other age group — accept that climate change is happening, and 69% say it will impact them in their lifetimes. Engulfed in a constant barrage of depressing news stories, many young people are skeptical about saving for an uncertain future. “I...

Huawei Technologies founder Ren Zhengfei has moved to quell a rising tide of nationalistic fervour in China against US firms, including Google and Intel, following last week’s blacklisting of the world’s No 2 smartphone maker by the Trump administration. Speaking to mainland media outlets on Tuesday, Ren cautioned Chinese media and consumers against equating buying decisions with patriotism and called for an end to criticism of US corporations. In a global setback for Huawei’s 5G technology, US President Donald Trump also signed an executive order barring US companies from using telecommunications equipment made by firms posing a national security risk...

When we read about farmers feeling the pinch in their profits due to the trade war with China, we think of farms and crops. A part of the economic story sometimes overlooked is that of companies who depend on agricultural sales, the companies that service farm communities, like Deere & Co. It was announced Friday that the company’s quarterly earnings missed Wall Street expectations. The agricultural equipment manufacturer is feeling the effects of the trade war between the U.S. and China. Since the beginning of the year, Deere stocks have declined 2% and nearly 1% in the past twelve...

WASHINGTON- The United States on Thursday terminated Turkey's preferential trade treatment under a program that allowed some exports to enter the country duty free, but it has halved its tariffs on imports of Turkish steel to 25%. The White House said it was appropriate to terminate Turkey's eligibility to participate in the Generalized System of Preferences (GSP) program, based on its level of economic development. The decision was effective May 17, it added.The U.S. Trade Representative (USTR) in early March said Turkey was no longer eligible to participate because it "is sufficiently economically developed." It had begun reviewing the NATO...

ROYAL OAK, Mich. — Frank Houston knows something about the longtime estrangement of white men from the Democratic Party. His family roots are in nearby Macomb County, the symbolic home of working-class Reagan Democrats who, distressed by economic and social tumult, decided a liberal Democratic Party had left them, not the other way around. Mr. Houston grew up in the 1980s liking Ronald Reagan but idolizing Alex P. Keaton, the fictional Republican teenage son of former hippies who, played by Michael J. Fox on the television series “Family Ties,” comically captured the nation’s conservative shift. But over time, Mr. Houston...

On Saturday, Apple CEO Tim Cook, who was recently acclaimed as an even better leader than the legendary Steve Jobs, carved out a morning from his very busy schedule to deliver a commencement speech for the 2019 graduates of Tulane University in New Orleans. [cut] But as soon as Cook stepped up to the podium on Saturday, his message to Tulane’s graduates became the very opposite of what was expected of him—instead of presenting himself as a role model for the young graduates in the audience, Cook encouraged them to challenge older generations’ successes and to find their own. “In...

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