Argentina July tax revenue rose 53.4% vs July 2018

BUENOS AIRES, Aug 1 (Reuters) – Argentina collected 450.9 billion pesos ($10.27 billion) in July tax revenue, up 53.4% from the same month last year, the government reported on Thursday.

Inflation accounted for much of the increase in tax receipts. Rolling 12-month inflation was running at 55.8% in June.

VIX stock-market volatility gauge at nearly 2-month high as Trump plans new China tariffs

The CBOE Volatility Index VIX, +15.88%, a popular gauge of stock-market volatility known by its ticker symbol VIX, jumped to a nearly two-month high Thursday as stocks sold off in the wake of President Donald Trump’s announcement of new tariffs on $300 billion of Chinese goods. The VIX rose more than 13% to trade above 18.0 for the first time since June 4. Volatility has been subdued, with the VIX trading below its long-run average around 19. Trump, via Twitter, announced the U.S. would impose 10% tariffs on $300 billion of Chinese goods and products beginning Sept. 1, after trade talks this week failed to make much progress. Stocks sold off following the announcement, erasing gains, with the S&P 500 SPX, -0.90% down 0.8% at 2,955 and the Dow Jones Industrial Average DJIA, -0.90% falling more than 230 points, or 0.9%.

Trump pledge to impose another 10% tariffs on Chinese imports bolsters rate-cut expectations

Traders’ expectations for the Federal Reserve to ease policy rose in the fed fund futures market after President Donald Trump announced plans to impose 10% tariffs on the remaining $300 billion worth of imports that have up to now been untouched by levies. Expectations for the Fed to cut rates by 25 basis points at the September meeting of the Federal Open Market Committee climbed to 70.4%, from 48.6% a day ago, CME Group data show. This comes only a day after Fed Chairman Jerome Powell suggested July’s 25 basis point rate cut was more of an insurance policy against global economic risks.

Magnitude 6.8 quake strikes off Chile: USGS

SANTIAGO (REUTERS) – An earthquake of magnitude 6.8 struck off Chile’s coast on Thursday (Aug 1), the US Geological Survey (USGS) said.

The quake, initially reported as a magnitude 6.5, was centred 140km south-west of the coastal city of Valparaiso in central Chile, the USGS said.

(This story is developing)

Gold Prices Surging From Two-Week Lows

Gold prices rebounded sharply on Thursday, recovering from near two-week lows after Fed Chairman Jerome Powell dampened hopes of further rate cuts later this year, sending risk assets down and the dollar higher.

But the precious metal is soaring after U.S. President Donald Trump announced a new round of tariffs on Chinese goods in an effort to turn up the heat in the ongoing trade war between the two nations.

China is likely to respond in kind, dramatically enhancing the desire for safe haven gold.

Spot gold jumped $25.00 or 1.77 percent to $1,438.40 per ounce, bouncing from its lowest level since July 17 at $1,405.50 this morning. U.S. gold futures were up 0.87 percent at $1,450.60 an ounce.

The U.S. dollar rose above ¥109 for the first time in some two months in Tokyo trading after Fed Chairman Jerome Powell described the U.S. central bank’s 0.25 percentage-point interest rate cut as “a mid-cycle adjustment to policy,” tampering market expectations of a lengthy easing cycle.

Trump: U.S. Will Hit $300 Billion Worth Of Chinese Goods With 10% Tariff

WASHINGTON, Aug 1 (Reuters) – U.S. President Donald Trump said on Thursday he would impose an additional 10% tariff on $300 billion worth of Chinese imports starting Sept. 1, as talks aimed at easting tensions between the world’s two largest economies continue.

“Trade talks are continuing, and during the talks the U.S. will start, on September 1st, putting a small additional Tariff of 10% on the remaining 300 Billion Dollars of goods and products coming from China into our Country. This does not include the 250 Billion Dollars already Tariffed at 25%,” Trump tweeted.

In a string of tweets, Trump also faulted China for not following through on promises to buy more American agricultural products and personally criticized Chinese President Xi Jinping for failing to do more to stem sales of the synthetic opioid fentanyl.

U.S. stock prices fell after Trump’s announcement, with the Dow Jones Industrial Average falling into negative territory.

U.S. and Chinese negotiators ended two days of talks in Shanghai on Wednesday with little sign of progress, although both countries described the negotiations as constructive. Another round of meetings between the negotiators has been scheduled for September.

The United States and China have been locked in a trade war marked by tit-for-tat tariffs since last year. The tensions have disrupted global supply chains and roiled financial markets. (Reporting by Makini Brice and Susan Heavey; editing by Tim Ahmann, Dan Grebler and Jonathan Oatis)

Europa League 2nd round, 2nd leg – Shamrock Rovers need a goal against Apollon Limassol in extra-time

Apollon Limassol vs Shamrock Rovers – Kick-off 6pm

Ghana marks 400 years since American slave trade

Ghana’s parliament welcomes US House of Representatives speaker to West Africa, from where millions of Africans were sold into a life of slavery in the Americas.

It is 400 years since African slaves were brought to America.

The Speaker of the US House of Representatives, Nancy Pelosi, led a delegation to Ghana this week to commemorate the anniversary.

Pelosi described the trade as “a grave evil” which the modern US is still reckoning with.

The visit came as a new campaign gets underway in Ghana aimed at attracting African-Americans to the continent.

Al Jazeera’s Katia Lopez Hoda-Yan reports.