Bedugul Coffee: Wednesday Morning Briefing: China hits back at renewed U.S. trade threats

Trade

China lashed out at renewed threats from the White House on trade, warning that it was ready to fight back if Washington was looking for a trade war, days ahead of a planned visit by U.S. Commerce Secretary Wilbur Ross.

Fresh off a $7 billion rescue for its loss-making South Korean operation, General Motors faces a new threat as Trump considers higher vehicle import tariffs that could “make or break” its Asian subsidiary.

Tariffs on steel, threats of car import levies and intense pressure for a two-way economic deal: despite warm personal ties, Trump is giving Japanese Prime Minister Shinzo Abe a decidedly tough time on trade.

Italy

Italy searched for a last-minute exit from almost three months of political turmoil, with its biggest party looking to make a renewed attempt to form a coalition government with the right-wing League, a source said.

Commentary: Italy's newly-coalesced populist government is committed to a strategy of confrontation with the European Union that it helped found and now may destroy, writes John Lloyd."This will be a struggle for the future of Europe – and thus for the shape of the 21st century world."

Abhinav Ramnarayan

@abhinavvr

Italy bond auction completed. Of course, its borrowing costs way, way higher than in recent history. But selling nearly 6 billion euros of bonds should calm any fears over market access. #italy #markets

5:33 AM - FEB 8, 2018

World

Belgian authorities faced questions over why a prison inmate, believed to have been radicalized in jail, was let out for a day and used it to kill three people in the city of Liege as well as a former associate.

Russian Foreign Minister Sergei Lavrov has rejected Ukraine’s allegation that Moscow was behind Tuesday’s murder of a Russian dissident journalist in Kiev, Russia’s state news agency TASS reported.

The Israel-Gaza border fell quiet under an Egyptian-brokered ceasefire after the most intense flareup of hostilities between Palestinian militants and Israel since a 2014 war.

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Tech

At Beijing security fair, an arms race for surveillance tech

It can crack your smartphone password in seconds, rip personal data from call and messaging apps, and peruse your contact book. The Chinese-made XDH-CF-5600 scanner - or “mobile phone sleuth”, as sales staff described it when touting its claimed features - was one of hundreds of surveillance gadgets on display at a recent police equipment fair in Beijing.

8 Min Read

Tesla hits parked California police vehicle; driver blames 'Autopilot'

The driver of a Tesla Model S crashed into an unoccupied, parked police vehicle in Laguna Beach, California, and the driver told investigators the Tesla was in “Autopilot” mode at the time, police said.

3 min read

Panasonic plans to develop cobalt-free car batteries

Tesla's battery cell supplier Panasonic said it is aiming to develop automotive batteries without using cobalt in the near future amid soaring prices of the key battery ingredient.

2 min read