China has confirmed that Vice Premier Liu He will travel to Washington next week to sign the phase one trade deal with the U.S. After that, there’s round-two to look forward to. When President Trump announced the date on Twitter earlier this month he stated his intention to visit Beijing to start negotiations on the second phase. Meanwhile, China intends to open up oil and gas exploration to foreign companies, in an attempt to ease commercial frictions with the U.S.
The World Bank said that the global expansion will accelerate slightly to 2.5% in 2020, down from a previous 2.7% projection. In its latest Global Economic Prospects report the lender warned that conditions remain fragile as it lowered euro area and China estimates for this year. There was some good news from Germany this morning as industrial production rebounded, raising hopes the sector may be ending its protracted slump. (Bloomberg)
Grubhub, the food-delivery provider, has tapped financial advisers for help with a review of potential moves that could include a sale of the company or an acquisition, WSJ reports. Also on the menu is what to do in case an activist shows up. Going public nearly six years ago, Grubhub's market cap is now valued at roughly $5B, down from a peak of more than $13B just over a year ago - before competition from other delivery startups heated up. Expect more consolidation in the food-delivery business to come. (SA)
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Josh Fenili.