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July 2019

Business & Trade

U.S. trade deficit surges to five-month high as imports soar

U.S. trade deficit surges to five-month high as imports soar

The deficit in the international trade of goods and services of the United States rose by 8.4{dd299c883823a46beb0705d70a03c819bede140f906792bc593d52b8d4c5e8ee} in May to 55,500 million dollars, the highest figure in five months and with a significant increase in imports from Mexico despite the protectionist efforts of President Donald Trump.

In May, exports reached a value of 210,600 million dollars, 2{dd299c883823a46beb0705d70a03c819bede140f906792bc593d52b8d4c5e8ee} more than in the previous month; and imports rose 3.3{dd299c883823a46beb0705d70a03c819bede140f906792bc593d52b8d4c5e8ee} to 266.2 billion dollars, the Department of Commerce reported Wednesday.

In the first five months of the year, the trade deficit increased by 6.4{dd299c883823a46beb0705d70a03c819bede140f906792bc593d52b8d4c5e8ee} compared to the same period of 2018, to a total of 261,400 million dollars.
The increase in May was largely due to the abrupt increase in automobile imports of 7.5{dd299c883823a46beb0705d70a03c819bede140f906792bc593d52b8d4c5e8ee}, as well as the 11{dd299c883823a46beb0705d70a03c819bede140f906792bc593d52b8d4c5e8ee} increase in crude imports.

The deficit with China, very sensitive politically for the commercial war unleashed by the US president, rose by 12{dd299c883823a46beb0705d70a03c819bede140f906792bc593d52b8d4c5e8ee} in May, to 30.2 billion dollars.
Last weekend Trump met in the framework of the G20 summit in Japan with Chinese President Xi Jinping and reached a new truce in the trade dispute, which has encouraged the financial markets.

Trump agreed not to impose new tariffs on Chinese imports. The president came to the White House with the promise to reduce the huge trade deficit in the country, but after more than two years in office has not managed to reduce the imbalance.

In fact, economists consider that the trade balance is not a significant indicator of the economic health of a country. The United States, as the world’s leading economy, often sees deficits rising historically during boom times by increasing Americans’ appetite for imports.

Indeed, the United States is experiencing a period of solid economic expansion, with an annual growth rate of 3.1{dd299c883823a46beb0705d70a03c819bede140f906792bc593d52b8d4c5e8ee} in the first quarter of 2019, spurred by the aggressive fiscal stimulus launched by Trump through tax cuts for companies and, to a lesser extent, the workers. These tensions have caused concern in the financial markets and doubts about the evolution of the global economy.

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Real Estate

Chicago’s weak housing market carries an upside

Chicago's weak housing market carries an upside

Weak house prices offer a potential boost to Chicago to compete against other metropolitan centres around the world. A new study conducted by Demographia, the study looks at house prices. As the growing paces of house prices are slow in Chicago. So the study basically compares the house prices with household income. That gives an index of affordability: how much can a house with an approximate average income buy.

With the study of around five million, Chicago ranks 13th among the most affordable cities according to the new study. Cities like Hong Kong, London, Los Angeles, Toronto, Miami and New York also Dallas / Ft. Worth and Houston are now less accessible compared to Chicago. Whereas only Atlanta and Philadelphia have cheaper house prices.

Chicago was the 35th most affordable of the 47 cities according to the report when the study was extended with at least two million people.
Chicago is rated 3.6 on a 5-point scale for affordability.

Unfortunately, the study does not include Western Europe outside of the United Kingdom. But these data will be helpful to local vendors to launch another company which needs expansion space. A little more bounce in the local real estate market would surely be good, too.

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Law & Order

Virginia Lt. Gov. Justin Fairfax resigns from law firm amid sexual assault allegations

Facebook's cryptocurrency project Libra could appeal to some progressive lawmakers

The lieutenant governor of Virginia is retiring from a law firm where he has worked since last year amid accusations of sexual assault against him.

Justin Fairfax has been absent from Morrison & Foerster since February after two women publicly accused him of assaulting them in 2000 and 2004. The firm said he had conducted an internal investigation into Fairfax and found no evidence of misconduct during his employment.

Justin had cooperated fully with the investigation said by a man from the firm in a statement to Fox News. He also concluded that their investigation was done and Justin’s license has ended and which was informed to them by Justin. However, Justin has decided to leave the firm and the decision was respected by the company.

Vanessa Tyson, one of Fairfax’s accusers, said that she forced her to have oral sex during 2004, Democratic National Convention in Boston. She said Virginia’s lieutenant governor took advantage of her past as a survivor of “incest.”

Justin Fairfax accuser says the data is found in your case: “pure cowardice”
Meredith Watson claimed that Fairfax raped her in 2000 when they were both students at Duke University. Fairfax denied the accusations and said that both meetings were consensual.

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Real Estate

Marcus Investments expands real estate fund to $80 million

Marcus Investments expands real estate fund to $80 million

Marcus Investments LLC has expanded the size of the real estate fund it is currently raising to $ 80 million, the company said in a recent filing with the SEC.

Marcus’ family office in Milwaukee planned to raise $ 60 million for Marcus RE Fund I LP, but investor interest was high, said by Chris Nolte.
Nolte said that they have expanded the increase gave the initial reactions of the market around it. He thinks it is a good idea.

The fund would invest in Midwestern retail “power centers” with funds contributed by family offices, consultants, wealth managers and institutions. The fund is expected to close on October 1 stated by Nolte.

The real estate division of Marcus Investments, Berengaria Development, actively invests in power centers, and has added 850,000 square feet worth $ 125 million to its portfolio in the last 20 months, including Grafton Commons.

Nolte also stated that they are really like the community and they also like the combination of tenants that they have. As they are managing with the vacancy which was created by Best Buy Game.

Nolte said that he has faith on Berengaria’s sales strategy. In his statement he said that everyone has heard about decline in retail but it is not true.

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Crypto

Operator of Newly Launched Binance US Appoints Former Ripple Exec as New CEO

Operator of Newly Launched Binance US Appoints Former Ripple Exec as New CEO

The US-based Binance Crypto Exchange operator appointed the former Ripple executive as its new CEO which was announced on July 2.
BAM Trading Services (BAM), the operator of the Binance US has hired Catherine Coley, a former liquidity management expert at Ripple.

Coley served as Director of XRP Institutional Liquidity, her most recent position before Binance in the United States her experience includes experience in foreign exchange. Five years in the financial services company Morgan Stanley with one year in the commercial bank Silicon Valley Bank Binance, currently the largest encryption exchange per adjusted daily trading volume, has officially announced the launch of Binance US in partnership with BAM on June 13. After the launch, Binance subsequently restricted services to US-based customers, in the recently updated conditions of use of June 14.

On June 6, Binance confirmed reports that the exchange plans to launch its own stable soon.

Ripple is a major cryptocurrency company that backs XRP, the third largest currency by market capitalization to date. Recently, Ripple CEO Brad Garlinghouse declared that bitcoin (BTC) and XRP are not competitors, arguing that bitcoin is a store of value or “digital gold”. On the other hand, XRP provides an efficient solution to Fiduciary transfers.

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Business & Trade

Gold steadies as stocks surge; growth risks, bets on rate cuts lend support

Gold steadies as stocks surge; growth risks, bets on rate cuts lend support

Gold prices hit a one-week high on Wednesday, boosted by the optimism of safe havens, while hopes for a quicker resolution.

Spot gold advanced 0.5{dd299c883823a46beb0705d70a03c819bede140f906792bc593d52b8d4c5e8ee} reaching $ 1,425.64 an ounce, at 0711 GMT. At the beginning of the session, gold reached $ 1,435.99, a peak since June 25.

Futures on gold in the United States rose 1.5{dd299c883823a46beb0705d70a03c819bede140f906792bc593d52b8d4c5e8ee} to $ 1,429.30 an ounce.
The appointment of the leaders of the European Union of the head of the IMF, Christine Lagarde, as a replacement for Mario Draghi at the seat of authority of the European Central Bank, strengthen expectations of easing monetary policy in the bloc.

The traders accepted the decision kicking the yields of the German Bund to 10 years at historical lows.

US President Donald Trump announced on Tuesday the names of two candidates to fill the vacancies on the Federal Reserve Board and stated that he wants lower rates.

SPDR Gold Trust, the world’s largest gold backed exchange trading fund, said its holdings fell 0.2{dd299c883823a46beb0705d70a03c819bede140f906792bc593d52b8d4c5e8ee} to 798.44 tonnes on Tuesday. However, the shares have gained more than 5{dd299c883823a46beb0705d70a03c819bede140f906792bc593d52b8d4c5e8ee} in the last month, indicating the interest of bullion investors. Silver fell 0.2{dd299c883823a46beb0705d70a03c819bede140f906792bc593d52b8d4c5e8ee} to $ 15.28 per ounce.

Platinum rose 0.6{dd299c883823a46beb0705d70a03c819bede140f906792bc593d52b8d4c5e8ee} to $ 832.60 per ounce which reached a three-month high of $ 1,568 in the previous session.

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Marketing

Keys to Be Successful in Business Marketing

Business advertising is the point at which a business markets and offers its products and enterprises to different organizations or associations. These different associations may exchange these merchandise and ventures or use them in their own business to help their tasks. Business showcasing is frequently called as modern advertising or business-to-business (B2B) promoting.

The ideal case of Business to business promoting is the vehicle business. Car organizations purchase different extra parts, for example, tires, batteries, gadgets and entryway locks which are produced freely by different organizations and sold straightforwardly to car makers to collect autos.

Indeed, even the Service business is additionally occupied with huge number of business to business exchanges. For instance Companies represent considerable authority in housekeeping offer types of assistance solely to different associations, as opposed to singular customers.

Business-to-client showcasing is the point at which a business markets and offers its merchandise and ventures to retail buyers for individual use. While most organizations that sell legitimately to buyers can be alluded to as B2C organizations. The business-to-shopper as a plan of action contrasts fundamentally from the business-to-plan of action, which alludes to exchange between at least two organizations.

Business advertise (B2B) versus Customer promoting (B2C)

B2C showcasing varies from B2B advertising in various key manners. A Business advertise has not very many clients when contrasted with a purchaser showcase which has enormous quantities of clients. A business advertise normally sells a tweaked item where as a customer showcase sells a homogenous item. A Business to business exchange is an enormous worth exchange as buy amount is exceptionally high where as business to buyer exchange is a little worth exchange. Cost can be haggled in business markets where as cost is typically fixed in customer showcase. Business markets have protracted and complex selling process with numerous chiefs however in buyer advertise purchasing choice are basic and are made by people.

Keys to accomplishment in Business markets are:

1) Value creation and Customer fulfillment

Business starts with esteem creation. It is the prime goal of the business to make and convey an incentive in an effective way which will at last lead to benefits. Worth prompts consumer loyalty. Client experience is a necessary piece of B2B promoting. The client experience is the key brand differentiator, significantly more than the cost and item.

2) Social media showcasing

Web based life showcasing is the point at which an organization utilizes online networking stages, for example, Facebook or Twitter to advertise its item or administrations. Online life showcasing is truly outstanding and productive stages for advertisers. Most internet based life stages have worked in information investigation apparatuses which empower organizations to follow the advancement, achievement, and commitment of advertisement crusades. Organizations address a scope of partners through internet based life promoting including current and possible clients.

3) Mobile promoting

Versatile showcasing is an advanced promoting procedure whose point is arriving at an intended interest group on their Smartphone, tablets, and other cell phones through email, SMS and mixed media messages.

Cell phone utilization has expanded on different occasions during the most recent couple of years, application use has likewise exceptionally expanded. Along these lines, versatile advertisers have progressively exploited Smartphone applications as a showcasing asset. Advertisers intend to advance the perceivability of an application in a store, which will expand the quantity of downloads. This training is called App Store Optimization (ASO).

4) Multimedia Content Marketing

Showcasing utilizing Multimedia content pulls in more clients. B2B advertisers are generally embracing this pattern. The essential driver is the craving to make content additionally captivating, convincing, and shareable than simply the customary modes. The most widely recognized types of visual substance incorporate 360-degree recordings.

5) Effective Personal selling and Executive Branding

Dissemination channel is the way through which the item arrives at the last client. Individual selling is the most favored type of conveyance and advancement utilized by B2B advertisers The venders advance the item through their mentality, appearance and authority item information. Official Branding is the point at which an official exhibits his expert qualities as an approach to pull in the clients. Official marking is otherwise called notoriety the executives. Particularly in B2B conditions, official marking is presently viewed as a need. Senior administration must make and build up their own image picture to pull in new clients.

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Law & Order

New law makes it illegal to start walking on the countdown timer

New law makes it illegal to start walking on the countdown timer

A new law based around crosswalks was established Hawaii, that came into practice this Monday states that a pedestrian cannot legally step foot on a crosswalk while there is a countdown timer being flashed. What is the penalty which a person who violates this law going to face? A fine which can be up to a hundred and thirty dollars. The captain of the Honolulu Police Department, Ben Moszkowicz said that what this law essentially did was to actually clarify what has already been the rule for years.

Ben supported the law, saying that “The only safe and appropriate time for you to begin crossing the street is when you see either the white upraised palm or you see the picture of the man walking.” He further elaborates, “What the law does (is that) it clarifies if you’re already in the intersection when the countdown timer begins, then you should have enough time and it’s legal for you to continue crossing.”

The law was passed by the legislation to curb the number of pedestrians losing their lives on the streets of Hawaii. It came as a response to the 43 pedestrian deaths in 2018 compared to 15 in 2017.

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Real Estate

Soaring Manhattan real estate sales could be a mirage

Soaring Manhattan real estate sales could be a mirage

Sale of real estates in the state of Manhattan experienced a rise for the first occasion in over one and a half years, however this rise is unlikely to stay around for long by any means. The sales volumes for Manhattan based real estate grew by about thirteen percent during the second quarter of the year, as per reports made by Miller Samuel and Douglas Elliman. The median price which an apartment sold in Manhattan fetched a record $1.2 million, though the average price of the apartment sales stayed at $2.1 million.

This has been widely welcomed and cheered by real estate developers as well as brokers, as Manhattan real estate sector went from registering losses for six straight financial quarters to registering a positive highlight this year. This is being advertised as a turnaround in terms of sales for the real estate sector of Manhattan. However, the experts in the field are aware that the real cause of the surge in amount of sales is in reality, taxes.

New York launched a new mansion tax on July 1st. This law adds tax between 0.25 percent to 4 percent for sales which are worth $2.5 million or higher. This is why many big money buyers rushed to buy their properties in the second quarter instead of the third quarter and hence save up on taxes. But experts believe that this will come back to bite the real estate sector due to an underperforming third quarter on cards.

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Crypto

Crypto News: Twitch Enables Bitcoin Payments

Crypto News: Twitch Enables Bitcoin Payments

Twitch is slowly starting to tolerate Bitcoins as a way to make transactions again, as per reports from Blockonomi. The huge video-game streaming platform had recently enabled clients to pay for memberships by using the prominent digital currency of Bitcoins. However, that component was scrapped from the platform not long ago at the beginning of this year. Presently, it appears, the capacity to make payments with Bitcoin has been enabled – at the very least in a portion of Twitch’s marketplace.

BitPay, a transaction processor that changes over the digital crypto currency into fiat cash, is supposedly preparing to handle the Bitcoin transactions, as indicated by Blockonomi. So in spite of the fact that Twitch is probably not going to get real Bitcoins, a standout amongst the most prominent gaming stages on the planet is empowering Bitcoin-based transactions. This is another noteworthy advance toward regularisation of acceptance for crypto currencies.

What makes this more exciting is the fact that the owners of Twitch are Amazon.com, the e-commerce giant. This raises the possibility that perhaps over time Amazon would accept Bitcoins too. Such an event is an exciting development for supporters of crypto currencies as a giant like Amazon can make other companies be more willing to join the group of companies which are slowly opening up to Bitcoins.

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