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China's Xi Jinping warns over economy in high-level meeting: reportExternal Link

Chinese President Xi Jinping has reportedly warned top officials to be wary of "black swans" and "grey rhinos" in face of a slowing economy. A report in state news outlook Xinhua said Xi told senior Communist Party officials in a speech to take action to lower risks to the economy. It came on the heels of data released Monday that showed China last year saw its slowest growth in decades. Some experts said the Communist Party is concerned that an economic slowdown could spark civil unrest, and want to avoid another Tiananmen Square incident such as seen in 1989. China's growth problems have been compounded by trade tensions with the U.S. A black swan refers to an unforeseen event that could cause turmoil, while grey rhinos refer to a highly likely threat that's currently being ignored.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 22 Jan 2019 08:21:22 GMT
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Meal-delivery startup Munchery shuts downExternal Link

On-demand meal-delivery startup Munchery has gone out of business, the company said in an email to customers Monday. "Today, with a heavy heart, we're reaching out to announce that Munchery is closing its doors and ending operations effective immediately. Any outstanding orders with Munchery will be canceled and refunded," the email said. The San Francisco-based business was founded in 2010 and had raised $125.4 million in venture funding, according to CrunchBase. Munchery laid off 30% of its workforce last May and significantly scaled back operations, ending its services in New York, Los Angeles and Seattle to focus on San Francisco, its biggest market. Aside from Munchery, other meal-kit delivery services have also struggled -- startups Spoonrocket and Sprig have shut in recent years, and the industry's "success story," Blue Apron Holdings Inc. , has seen its stock price plummet 85% since going public in 2017.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 22 Jan 2019 03:00:35 GMT
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Report reveals secret North Korean missile base headquartersExternal Link

A new report has identified a secret headquarters for North Korea's ballistic missile force, complicating ongoing denuclearization talks with the U.S. In a report released Monday, the Center for Strategic and International Studies think tank identified the previously undisclosed base, among one of about 20 previously secret ballistic missile bases it had previously reported on in November. The researchers said the headquarters proves North Korea is not serious about dismantling its nuclear missile program, since the denuclearization talks have focused on shuttering declared and verified bases. The White House said Friday that President Donald Trump was "looking forward" to a second summit with North Korean leader Kim Jong Un to discuss dismantling North Korea's nuclear program. After last year's summit, Trump said North Korea no longer posed a nuclear threat.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Mon, 21 Jan 2019 23:51:06 GMT
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Brandon Truaxe, founder of popular beauty brand Deciem, dies at 40External Link

Brandon Truaxe, the 40-year-old founder of Canadian beauty brand Deciem, has died, the company announced Monday in an Instagram post. "Whilst we can't imagine a world without you, we promise to take care of each other and will work hard to continue your vision," the post said. A cause of death was not released. Deciem was founded in 2013 and became a popular global brand known for low prices and customer loyalty. It was on track to make $300 million in sales in 2018, the Canadian Press reported. Truaxe was also known for his erratic behavior, and in October was removed as CEO after the company's largest shareholder, cosmetics giant Estée Lauder Cos. , objected after he temporarily closed all Deciem stores because of what he called "major criminal activity."

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Mon, 21 Jan 2019 22:35:49 GMT
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U.S., China remain at loggerheads over intellectual theft issue: reportsExternal Link

Discussions between the U.S. and China over allegations that the latter has engaged in decades of intellectual property theft have gone nowhere, Bloomberg News reported Monday. The topic was the top of the agenda in recent trade talks between the two, but there was little in the way of constructive progress over what to do, said the report. In public, China denies the accusations of IP theft, but late last year proposed a new law to ban companies from new financing, such as issuing bonds, if they are caught stealing technology. U.S. President Donald Trump said Saturday that trade talks were progressing, but that media reports saying the U.S. would ease up on sanctions against China were not true. Those reports served to drive gains for global stocks last week.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Mon, 21 Jan 2019 09:29:06 GMT
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