- China's consumer price inflation stayed at 1.4% in March, above expectations of 1.3%, while producer prices fell slightly less than expected. The Chinese March inflation data is the first in a batch of key economic data that will climax with release of first-quarter growth numbers on April 15.
- General Electric (GE) is close to selling all its real estate holdings, Reuters reports citing a source. A consortium led by Blackstone (BX) and Wells Fargo (WFC) is the buyer of the $30 billion real estate portfolio, the report says.
- U.K. wages for workers starting new jobs increased in March by the biggest amount in six months, suggesting the pick-up in earnings is gaining momentum. The number of Britons finding permanent jobs via recruitment agencies in March grew at the same strong pace as in February, which was the fastest since October. However, U.K. industrial output edged up by a disappointing 0.1% in February, signaling the recovery is still uneven.
- Shell's (RDS.A; RDS.B) $70 billion deal to buy BG Group faces regulatory scrutiny in China and other countries, the Wall Street Journal reports. The deal would transform Shell into the dominant player in the world's growing liquefied natural gas market and would make it the biggest international player in Brazil's oil-rich waters.
- Australian fans of Apple (AAPL) flocked to its store in Sydney to get the world's first up-close look at the company's smartwatch, which Apple expects will be its next runaway hit.
More from China
There is plenty of skepticism about the value of this deal and whether it is very meaningful.
What matters to me is that Costco's model works perfectly in a trade war. Oh, and irony of ironies: you know where it works best? Shanghai.
Should this agreement come off the way it reads overnight, the warmer relationship between the U.S. and China should increase demand on both sides of the Pacific, resulting in an improved environment for growth.
After many a false start, the Phase 1 deal long trumpeted by the U.S. president appears to be coming together. It's still not down on paper, but investors should look East if Sunday's tariffs do avoid implementation.