China Strikes Back at the U.S. With Its Own Tariffs

Supported by Business Day China Strikes Back at the U.S. With Its Own Tariffs Photo China on Wednesday outlined plans to impose tariffs on soybeans and other American goods. Credit Daniel Acker/Bloomberg SHANGHAI — China hit back at the United States on Wednesday with proposed tariffs on American soybeans, cars, chemicals and other goods, in a move likely to spark fears that the countries’ escalating confrontation could become an all-out trade war.
Moving with unusual speed, Chinese officials outlined plans to make it more costly to import 106 categories of American goods into China. The move came just hours after the Trump administration detailed its plan to impose tariffs on $50 billion in Chinese-made steel, aircraft parts, televisions and other products.
China’s new tariffs will amount to 25 percent on the American products. While Beijing did not immediately specify the value of the American goods that would be affected, government officials have said it would be roughly equal..

Children understand the value of money by age of 10, survey finds

Nearly a third of parents wish their own parents had taught them the importance of saving when they were young
Parents believe their children understand the value of money at 10 years old on average, a survey has found.
This is the age they stop believing money is infinite, that it must be earned, and it is important to save, according to the research from Santander.
While the average age across the survey for parents thinking their child had grasped how money works was 10, one in 14 (7 per cent) parents believed their child had understood the concept of money by the age of five.
Read more True scale of gender pay gap at UK's large firms set to be revealed The survey, which included the views of five to 15-year-olds as well as parents, found nearly nine in 10 (89 per cent) of boys said they like to save money for the future, compared with just over three-quarters (77 per cent) of girls.
When children were asked why they like to save money, nearly half (47 per cent) want to..

WPP boss Sir Martin Sorrell under investigation over personal misconduct allegations

Advertising boss known for huge salary is under investigation
Advertising giant WPP has appointed lawyers to lead an independent investigation into an allegation of personal misconduct by Sir Martin Sorrell, the firm’s chief executive.
Shares in the group dropped more than 2 per cent in early trading.
The Wall Street Journal, which first reported the investigation, said WPP's board was examining whether Sir Martin had misused company assets, citing unnamed sources.
Read more WPP's spin kings tell it like it is in wake of grim results The group said the investigation is ongoing, and the allegations “do not involve amounts which are material to WPP”.
In a statement, Sir Martin said: “Reports in the media have stated that WPP is investigating an allegation of financial impropriety by me, specifically as to the use of company funds.
“This allegation is being investigated by a law firm. I reject the allegation unreservedly but recognise that the company has to investig..

Australians Are the World’s Biggest Gambling Losers, and Some Seek Action

Australians Are the World’s Biggest Gambling Losers, and Some Seek Action
MELBOURNE, Australia — In pockets of suburbia all across Australia, electronic gambling machines known as pokies await their many customers in pubs, hotels and sports clubs, as common a fixture as A.T.M.s in a shopping mall.
But the unremarkable machines contribute to an extraordinary level of gambling. Government statistics show that they account for more than half of individual Australians’ annual gambling losses, a gargantuan 24 billion Australian dollars, or about $18.4 billion. On a per-capita basis, Australians lose far and away the most in the world: more than 1,200 Australian dollars every year (or $920).

Australia’s gambling losses per adult are more than double those in the United States, and around 50 percent higher than second-placed Singapore, according to H2 Gambling Capital, an analytics company.
As those figures swell, a public war is brewing between venue operators and people against gambling,..