Mustafa Yalcin/Anadolu Agency/Getty Images; Samantha Lee/Business InsiderBoeing has used corporate welfare to fund its "villainy."<ul class="summary-list"><li>Paul Constant is a writer at Civic Ventures, a cofounder of the Seattle Review of Books, and a frequent cohost of the "<a href="http://www.pitchforkeconomics.com/">Pitchfork Economics</a>" podcast with <a href="https://www.businessinsider.com/category/nick-hanauer">Nick Hanauer</a>.</li><li>In this opinion piece, he writes that the recent Boeing failures showcase the "parasitic relationship" between corporations and local government, as Boeing received large tax breaks.</li><li>Americans are starting to realize that these tax breaks don't actually benefit the local economy - and, in the case of Boeing, fund "villainy."</li><li>For more on this topic, listen to the latest episode of "<a href="https://pitchforkeconomics.com/episode/corporate-parasites-how-taxpayers-subsidize-profits-with-rana-foroohar-and-david-dayen/">Pitchfork Economics</a>."</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories.</a></li></ul>Until the next catastrophic oil spill or widespread outbreak of food-borne illnesses, Boeing is the reigning champion of American corporate malfeasance. Since the <a href="https://www.nytimes.com/interactive/2019/business/boeing-737-crashes.html">airplane manufacturer's new 737 Max models started crashing</a> in 2018, killing nearly 350 people in two separate crashes, Boeing has done nearly everything wrong. Reporters <a href="https://www.wsj.com/articles/boeing-knew-about-safety-alert-problem-for-a-year-before-telling-faa-airlines-11557087129">at the Wall Street Journal</a> discovered, for instance, that Boeing knew about the model's deficiencies about a year before planes started falling from the sky. The story of the 737 Max is <a href="https://www.wsj.com/articles/indonesias-report-on-lion-air-crash-blames-boeing-737-max-design-faa-11571991500">a tragedy of cost-cutting</a> in design and an indictment of a system of austerity in which the policing of government regulations have been largely outsourced to the very corporations which are supposed to be regulated. At nearly every turn, Boeing has revealed its willingness to hide the truth, mislead authorities, and ignore the consequences of its own actions.And Dennis Muilenburg, Boeing's outgoing CEO who ran the company during this whole saga, is <a href="https://www.businessinsider.com/boeing-muilenburg-payout-same-time-thousands-layoffs-2020-1">walking away with an astonishing $62 million</a> severance package. (For the sake of comparison, Boeing will compensate the families of the hundreds of people who died in the two 737 Max crashes with <a href="https://www.cnn.com/2019/09/24/business/boeing-737-max-compensation-intl-hnk/index.html">cash and benefits equaling $100 million dollars</a>, which eventually works out to less than $150,000 per family.)Perhaps worst of all, if you're a taxpayer in Washington state, you have helped to fund Boeing's bad actors behind the story of golden parachutes, irresponsibility, and avoidable deaths. Washington state leaders in 2013 gave Boeing a jaw-dropping $8.7 billion in tax breaks that are still rolling out to this day. Angela CiccuPaul Constant.During his presidential run last year, Governor Jay Inslee, who shepherded Boeing's tax breaks through Washington's legislature, <a href="https://crosscut.com/2019/03/jay-inslees-about-face-boeings-big-tax-break">says he is</a> "not happy with the Boeing situation" in retrospect. "If you've ever been mugged, you understand what it feels like," Inslee <a href="http://www.cc.com/video-clips/tt5dcz/the-daily-show-with-trevor-noah-jay-inslee---running-for-president-on-a-platform-of-fighting-climate-change---extended-interview">told Trevor Noah on The Daily Show in March 2019</a>. "These corporations put a gun to your ribs and say you're going to lose 20,000 jobs" unless you hand over the tax breaks, Inslee explained. And even though Boeing got the huge payout that they wanted out of Washington state, they killed those jobs anyway. In 2017 alone, a year in which Boeing enjoyed a $227 million share of that Washington state tax cut, the <a href="https://www.seattletimes.com/business/boeing-aerospace/last-year-boeing-saved-227m-from-state-tax-incentives-while-it-cut-6000-jobs/">company laid off 6,000 Washington workers</a>. Michael Hiltzik at the Los Angeles Times <a href="https://www.latimes.com/business/hiltzik/la-fi-hiltzik-boeing-washington-20170503-story.html">estimates that Boeing cut nearly 13,000 Washington jobs</a> between the announcement of the tax break and the end of 2017.Boeing is a particularly egregious example of the parasitic relationship between corporations and local governments, and they're exhibit A for the case against corporate welfare. As Governor Inslee learned, generous tax breaks provide no guarantee that a corporation will be a good neighbor. Boeing received the largest corporate tax break payout in Washington state history by far, and it repaid that taxpayer generosity by slashing and moving jobs, building substandard products that killed users, and delivering outsize paydays to the masterminds who oversaw one of the most embarrassing two-year periods in American corporate history.Of course, it's easy to paint Boeing as a villain, but the mechanism that Boeing used to fund its villainy is anything but unusual. In the latest episode of "<a href="https://pitchforkeconomics.com/episode/corporate-parasites-how-taxpayers-subsidize-profits-with-rana-foroohar-and-david-dayen/">Pitchfork Economics</a>," Nick Hanauer and Zach Silk discuss the many ways in which corporations suck wealth from the taxpayers in order to pay out investors and leadership. <a href="https://prospect.org/topics/david-dayen/">David Dayen</a>, the executive editor at the American Prospect, and <a href="https://www.ft.com/rana-foroohar">Rana Foroohar</a>, associate editor at the Financial Times, discuss the relatively short, trickle-down history of governments using taxpayer dollars to subsidize rapacious corporate behavior. This is the real story of welfare abuse, and it's absolutely maddening.Thankfully, the American people, like Governor Inslee, have seen more than enough evidence to understand that these tax breaks are handouts that do nothing to benefit the local economy. People in New York City, for instance, revolted against proposed state and city tax incentives to bring Amazon's proposed "HQ2" to town. At the time that Amazon announced it would be backing off from the HQ2 plans, anti-Amazon leaders including Alexandria Ocacio-Cortez were <a href="https://www.nytimes.com/2019/03/19/nyregion/newyorktoday/AOC-Amazon-nyc.html">painted as "villains"</a> for killing jobs. But even without the tax breaks, Amazon <a href="https://www.nydailynews.com/news/politics/ny-amazon-manhattan-office-space-queens-headquarters-20191206-23iban2vj5hfvk6z3jwfbje2by-story.html">is quietly going ahead with the jobs and investments in New York City</a> that it proposed anyway.And all that anecdotal evidence is backed up with fresh academic research. <a href="https://economics.princeton.edu/2020/01/06/new-data-on-state-and-local-business-tax-incentives-across-the-u-s/?mod=article_inline">A new study by Cailin Slattery and Owen Zidar</a> finds that most states and local governments offer $30 billion a year in welfare - as a "low-end estimate" - to corporations, and in some states the outgoing incentives exceed corporate tax revenues. <a href="https://docs.google.com/viewer?url=https%3A%2F%2Fstatic1.squarespace.com%2Fstatic%2F5acd55db36099bfff90bf5d6%2Ft%2F5e131101a2cf815a659a5d10%2F1578307842268%2Fjep.pdf">In their paper</a>, Slattery and Zidar conclude that they "do not find strong evidence that firm-specific tax incentives increase broader economic growth at the state and local level."Over the last 40 years of trickle-down doctrine in the United States, the prevailing philosophy has been to attract businesses to your area with low taxes, low wages, and few regulations. It has been an unsustainable model that has harmed workers, encouraged lazy and malicious business practices, and destroyed our reputation as global economic leaders. At the very least, our leaders need to understand that this rampant system of corporate subsidization must end. It's not just that public investments into our health, our infrastructure, and our future are hurting - it's that our corporations have grown lazy and entitled, and they're taking advantage of the system with no plan to ever pay us back. It's time to kick corporations off welfare for good.Get the latest Boeing stock price <a href="http://markets.businessinsider.com/stock/BA-Quote">here.</a> <h3>NOW WATCH: <a href="https://www.businessinsider.com/maye-musk-on-raising-successful-children-leveling-up-her-career-2020-1">Elon Musk's mother, supermodel Maye Musk, talks about raising successful children and leveling up her career at every age</a></h3>

It's time to end corporate welfare. Boeing is exhibit A for why.

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Marcio Jose Sanchez/APA firefighter hoses down hotspots from a wildfire in Santa Rosa, California, on Saturday, October 14, 2017.</div></div></div><ul><li>California wildfires have hit the state's marijuana industry, burning dozens of farms and leaving many more engulfed in smoke.</li><li>The price of marijuana could spike as much as 20% in the aftermath of the fires.</li><li>The full extent of the damage will be unclear until growers send crop samples for testing.</li></ul>Marijuana could get more expensive after <a href="http://www.businessinsider.com/category/santa-rosa-fire">a series of massive fires in Northern California</a> wiped out as much as a year's supply for some industry growers.Nearly two dozen wildfires spread through the <a href="http://www.businessinsider.com/santa-rosa-fire-map-2017-10">counties of Napa, Sonoma, and six others</a> last week, destroying an estimated 5,700 structures, and <a href="http://www.businessinsider.com/napa-sonoma-fires-aerial-photos-2017-10">burning over 200,000 acres</a> of land - a collective area roughly the size of New York City. <a href="http://beta.latimes.com/local/lanow/la-me-california-fires-20171014-story.html">Forty people</a> are dead.The fires scorched dozens of the region's marijuana farms, including those in Sonoma County and in Mendocino County - part of the <a href="http://www.businessinsider.com/life-of-trimmigrants-2016-10">Emerald Triangle</a>, which is considered the marijuana-growing capital of the US. The number of farms burned is expected to "<a href="https://www.nytimes.com/2017/10/13/us/california-fires-marijuana.html?_r=0">increase significantly</a>" as evacuation orders are lifted and growers return to their homes.The crop harvested later this month would have supplied California dispensaries through the end of 2018. The situation could create a shortage of marijuana in the state just months ahead of California's launch of a recreational marijuana market. Tamar Maritz, regional director for California at marijuana data insights company BDS Analytics, said Californians could expect to see prices rise as much as 10 to 20% in the aftermath of the fires.BDS Analytics found that in Colorado, Washington, and Oregon, a "major disruption in the supply chain" created price increases in a magnitude of 10% to 20%, according to Maritz. Those breakdowns varied from regulatory changes that shorted supply, to the debut of a recreational market.She added that those states saw prices return to normal one to three months after the event.The going rate nationwide for legal, non-medical marijuana is about $11 per gram or $34 for an eighth of an ounce, according to <a href="https://mjcharts.com/about/">MJCharts</a>. Using case studies from states with fully legalized marijuana, California could see the price of pot increase roughly $2 more per gram or $7 more per eighth of an ounce after the price hikes set in.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Josh Edelson/APMarijuana plants are covered in fire retardant.</div></div></div>The fires came at one of the worst times for the marijuana industry. Harvest takes place between the months of September and November, and most grows provide crop for the entire year. Many farmers had only just begun cutting their plants, <a href="https://www.forbes.com/sites/debraborchardt/2017/10/11/california-fires-destroy-cannabis-crops-at-harvest-time/#2684b45b30a1">according to Forbes</a>.California produces <a href="http://www.sfchronicle.com/science/article/Allure-of-legal-weed-is-fueling-land-rush-in-7948587.php">over half</a> of the marijuana consumed in the US. According to county surveys, there are between 3,000 and 9,000 marijuana farms in Sonoma County, where the fires hit hard. The number of farms in Mendocino County, where the illicit market thrives, is unknown.Both the California Cannabis Industry Association and the California Growers Association reported "<a href="http://www.sfchronicle.com/bayarea/article/Cannabis-harvests-threatened-by-Sonoma-County-s-12263991.php">several dozen</a>" members that have lost their farms in the blazes. It's too soon to say what percent of grows in California were affected by the fires, though it appears to be a minority.Smoke also blanketed huge swaths of Northern California last week, which presents a more widespread concern for the marijuana industry, according to Nick DiNicola, whose company, DiNicola Insurance Services, brokers insurance for companies in the cannabis space."A lot of the farms weren't destroyed but may not be able to sell their product because of all the pollution that came down from the fires," DiNicola told Business Insider.Smoke-exposed crops <a href="http://www.sfchronicle.com/bayarea/article/Cannabis-harvests-threatened-by-Sonoma-County-s-12263991.php">are more vulnerable to disease</a>, which could lead to unhealthy levels of mold, mildew, and fungus. The marijuana might also smell like fire, which causes it to lose value if it's meant to smell like "lemon haze" or "blueberry kush," <a href="http://www.sfchronicle.com/bayarea/article/Cannabis-harvests-threatened-by-Sonoma-County-s-12263991.php">according to the San Francisco Chronicle</a>.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Noah Berger/APFlames surround a marijuana plant as a wildfire burns near Oroville, California, on Saturday, July 8, 2017.</div></div></div>Still, the fires reached only a small section of the Emerald Triangle, which also includes Humboldt County and Trinity County. <a href="https://www.forbes.com/sites/debraborchardt/2017/10/11/california-fires-destroy-cannabis-crops-at-harvest-time/#2684b45b30a1">Local dispensaries</a> that source their inventory from the counties affected by the fires are more likely to experience higher prices.Marijuana extraction companies, which process marijuana plant material for oils and concentrates, could also have trouble getting their products to market, <a href="https://www.forbes.com/sites/debraborchardt/2017/10/11/california-fires-destroy-cannabis-crops-at-harvest-time/#2684b45b30a1">according to Forbes</a>.Maritz, of BDS Analytics, added that the full extent of the damage will be unclear until farmers collect what's left of their grow and send samples to marijuana testing facilities."The fire today isn't going to impact the inventory until tomorrow," Maritz said. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/parachuting-directly-into-wildfires-2016-9">Meet the badass fire fighters who parachute directly into the flames</a></h3> <div> </div> </div>

Marijuana could get more expensive after California wildfires wiped out a year's supply of weed

There is a new, shiny marketing trend in Indian FMCG industry. Be it a liquid soap or candies, facelift cream or premium biscuits, marketers are just adding 'gold' before or after the brand name, because of which consumers are attracted to it. 
 
Let alone the FMCG market, even the mobile phones that have 'gold' added to their names or the names of the colour variants, are a hit in the market. 
 
Take, for example, Colgate came out with a new toothbrush, priced it aggressively at Rs 77 per piece, and named it ‘360 Charcoal Gold Toothbrush’. The product was a hit in the market. The tagline, "Wake up to a gold morning... with the gold standard of whole mouth cleaning", hits at Indians’ undying love for gold, which contributed to its popularity. 
 
"The country is besotted with gold. That cuts across the literate and non-literate; it cuts across social, economic, political and religious divides," Harish Bijoor, brand consultant, told <a href="http://economictimes.indiatimes.com/industry/cons-products/fmcg/fmcgs-new-marketing-mantra-is-to-brand-products-gold-and-consumers-dont-seem-to-mind/articleshow/53292120.cms">ET</a>. 
 
Bijoor added that companies now shy away from using platinum and silver, having tried it in the past and failing. "Indians don't understand platinum. And silver remains a distant second to gold," he said. 
 
Some other products that have added ‘gold’ to their names are: Marico's Parachute Gold hair oil, Reckitt Benckiser's Dettol Gold liquid soap and bar soap, confectionery category leader Perfetti Van Melle's Alpenliebe gold candies, and Mondelez's premium biscuit Oreo's Golden Oreo variant. 
 
However, adding ‘gold’ to the name doesn’t always mean that pricing has to necessarily be aggressive since the metal is not always used in the products. Sometimes, companies just want to attract users by this name. 
 
However, every trend is ‘in’ for a limited period of time. Therefore, there are chances that companies might be overplaying with the gold thing. 
 "Marketers attach the gold name to brands to convey quality and premiumness but it needs to be done intelligently, linking it to a good, better, best in their portfolio. Otherwise it loses relevance as different marketers use the gold name for entry-level as well premium-quality products," says Devendra Chawla, group president, food FMCG and brands, <keyword id="44949" type="CITY" weightage="100" keywordseo="Future-group">Future Group</keyword>. 
 
It remains to be seen when the FMCG marketers realise this threat. 
 
<a href="https://mohitze.files.wordpress.com/2015/03/treasure_treasure_chest_euro.jpg">Image source</a>

Indians are so fond of gold that they don’t mind shelling extra money for FMCG products with ‘gold’ in their names

<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div><ul><li>President Donald Trump released a list of $200 billion worth of Chinese goods that may be subject to tariffs.</li><li>The list represents a major escalation of the Trump-China trade war.</li><li>The list is massive, covering everything from tuna to wooden doors to industrial chemicals.</li><li>Check out the highlights below.</li></ul>President Donald Trump <a href="http://www.businessinsider.com/trump-china-tariff-list-trade-war-escalation-2018-7">escalated the trade war with China</a> on Tuesday with the release more than $200 billion worth of Chinese exports to the US that could be subject to new tariffs.As opposed to previous tariffs, which focused mostly on industrial goods, the <a href="https://ustr.gov/sites/default/files/301/2018-0026%20China%20FRN%207-10-2018_0.pdf">roughly 200-page list</a> runs the gamut - from consumer products to food to industrial chemicals. This means American consumers are likely to notice any potential price increases right away.If Trump follows through on this threat, just under 50% of all Chinese imports would be subject to a tariff.Here's a rundown of the major goods that are on Trump's new list:<ul><li>Meat: pork; beef intestine; rabbit meat; venison; frog legs</li><li>Fish and seafood:&#xa0;live fish including&#xa0;ornamental fish, trout, eels, tuna, and carp; chilled or frozen meat of various types of trout, salmon, halibut, plaice, sole, albacore, tuna, herring, mackerel, cobia, swordfish, pollack, whiting, catfish, rays, and more; various types of salted or smoked fish; other seafood including various types of lobsters, crabs, shrimps, prawns, oysters, scallops, mussels, clams, squid, octopus, conchs, abalone, sea cucumbers, and sea urchins.</li><li>Non-meat animal products such as eggs and dairy:&#xa0;Whey products; butter; various types of eggs including chicken; honey; hair of animals including human, hog, horse and badger; animal intestines, bladders; feathers; bones including shells, beaks, corals, hooves, antlers, and more.</li><li>&#xa0;Vegetables:&#xa0;onions; garlic; cauliflower and broccoli; cabbage; carrots; turnips; radishes; beats; cucumbers; peas of various types; beans; lentils; celery; mushrooms; peppers of various types; squash; okra; sweet corn; potatoes; sweet potatoes and yams; some types of tomatoes; spinach; Brussels sprouts.</li><li>Fruit and Nuts:&#xa0;Coconuts; cashews; almonds; hazelnuts; walnuts; chestnuts; pistachios; macadamia nuts; pecans; dates; figs; pineapples; guavas; oranges; mandarins; clementines; raisins; grapes; apples; pears; quinces; peaches; berries including strawberries, raspberries, cranberries, blueberries and others; bananas; a variety of dried fruits; peels of various fruits.</li><li>Cereals:&#xa0;wheat, including durum wheat; barley; oats; corn; various types of rice; grain sorghum; buckwheat; quinoa; and more.</li><li>Mill products:&#xa0;flours including those form wheat, corn, buckwheat, rice, rye, other cereals, potatoes, and bananas;&#xa0;groats and meal of various types including wheat, corn, oats, and rice; malt; starches of wheat, corn, potato, and more</li><li>Oil seeds:&#xa0;soybeans; seeds of sunflower, flax seed, sesame, mustard, poppy and more; planting seeds for certain crops; cocoas and mint leaves; and seaweeds.</li><li>Sugars and candies: cane sugar; candies with no cocoa</li><li>Breads and Pasta:&#xa0;uncooked pasta; various breads, pastries, cakes, and biscuits.</li><li>Prepared vegetables and fruits: various vegetables and fruits previously listen in their prepared or preserved forms; various fruit jams including strawberry, pineapple, apricot, and more; peanut butter; various fruit juices including orange, pineapple, lime, grape, apple, and more.</li><li>Other food items: soy sauce; condiments and seasonings; protein concentrates.</li><li>Beverages and vinegars: water, including mineral water; fruit or vegetable juices and juice mixes; beer from malt; wine, including rice wine; ethyl alcohol; vinegars</li><li>Food processing waste and animal feed: brans from processing; oil cakes; dog or cat food; animal feed</li><li>Tobacco products: various types and preparations of tobacco; tobacco refuse; cigars; cigarettes; smoking tobacco</li><li>Salts and minerals:&#xa0;salt/sodium chloride; sulfur; graphite; quartz; types of clays; chalk; slate; marble; granite; sandstone; dolomite; gypsum; some plasters; some types of cement; mica; Epsom salts</li><li>Ores, slag, and ash:&#xa0;ores of iron, copper, nickel, cobalt, aluminum, lead, zinc, tin, chromium, tungsten, uranium, titanium, silver, other precious metals, and others; slag, various types of ash.</li><li>Mineral fuels and oils:&#xa0;coal; lignite; peat; coke; tars; various types of light oil; various types of kerosene; petroleum oils; liquefied fuels including natural gas, propane, butane, ethylene, and&#xa0;petroleum;&#xa0;oil shale and tar sands</li><li>Inorganic Chemicals:&#xa0;chemicals such as chlorine,&#xa0; sulfur; carbon, nitrogen, oxygen, and silicon; acids including sulfuric, nitric, and more; various types of fluorides, chlorides, sulfates, nitrates, carbonates, and more. (See full list below.)</li><li>Organic chemicals:&#xa0;(See full list below.)</li><li>Fertilizers: animal or vegetable fertilizers; urea; ammonium sulfate; sodium nitrate; and more.</li><li>Tanning and drying extracts, dyes, and paints</li><li>Essential oils, perfumes:&#xa0;perfume; lip or eye make up preparations; manicure or pedicure products; shampoo; hairspray; bath salts.</li><li>Soaps and cleaning products: various types of soap; leather and textile treatments; polishes for shoes and furniture.</li><li>Glues, adhesives, and enzymes</li><li>Cigarette lighter fluid</li><li>Photographic goods: various types of photo plates; instant film; various types of film in rolls; various types of motion picture film.</li><li>Various chemical products: pesticides; herbicides; fungicides</li><li>Plastics: vinyl flooring and other plastic floor and wall coverings; sausage casings; bags; gloves including baseball gloves; rain jackets; machinery belts.</li><li>Rubber:&#xa0;latex; rods, tubes, and other products; conveyor belts; various types of transmission belts; various types of&#xa0;pneumatic tires; gloves; gaskets; dock fenders.</li><li>Raw hides and leather:&#xa0;animal skins including cow, buffalo, sheep, goats, reptile; various types of leather made from&#xa0;cow, buffalo, sheep, goats, reptile; leather trunks and suitcases; leather handbags; CD cases; gloves including ski, ice hockey, and typical use; belts; fur clothing, incluidng artificial fur.</li><li>Wood: fuel wood; charcoal; various types of wood including oak, beech, maple, ash and cherry; moldings; rods; particleboard; various types of plywood; doors; corks and stoppers; wicker and bamboo baskets.&#xa0;</li><li>Wood pulp products</li><li>Paper: Newsprint; writing paper; vegetable parchment; carbon paper; self-adhesive paper; cigarette paper; envelopes; tablecloths; handkerchiefs; folders.</li><li>Silk</li><li>Wool or animal hair products:&#xa0;cashmere; yarns; tapestries and upholstery.</li><li>Cotton: fibers; thread; yarn; denim; satin.</li><li>Flax: yarn; fabrics</li><li>Man-made textiles:&#xa0;polypropylene;&#xa0;rayon;&#xa0;nylon; polyester</li><li>Other textile products, rope, twine: hammocks; fish nets; carpets;</li><li>Fabrics:&#xa0;corduroy; gauze; terry towel; lace; badges; embroidery</li><li>Headgear: caps; hairnets; wool hats; safety headgear like hard hats; head bands.</li><li>Stone, plaster, cement, asbestos: stone for art; marble slabs; roofing slate; millstones; sandpaper; floor or wall tiles; cement bricks.</li><li>Ceramics:&#xa0;fire bricks; pipes; tiles; porcelain and china.</li><li>Glass and glassware: balls; rods; drawn or blown glass; float glass; tempered safety glass; mirrors;&#xa0;carboys, bottles, jars, pots, flasks, and other containers; microscope slides; woven fiberglass</li><li>Precious stones and pearls: diamonds; silver and products made of silver; gold and products made of gold; platinum; palladium.</li><li>Iron and steel and products derived from the metals:&#xa0;drums; tubes; pipes; doors; windows; screws; horseshoes;&#xa0;</li><li>Copper: plates; cables; tubes; pipes; springs</li><li>Nickel: bars; rods; wires</li><li>Aluminum:&#xa0;powder; cable; wire; screws.</li><li>Various metal products, tools, cutlery:&#xa0;industrial items made from lead, zinc, tin, and more; saw blades; bolt cutters; hammers; wrenches; crow bars.</li><li>Machinery, both industrial and retail: steam turbines; engines; fuel-injection pumps; air compressors; air conditioning machines; refrigerators; cream separators; hydraulic jacks; escalators; manure spreaders; copiers; automatic beverage-vending machines</li><li>Electronics: vacuum cleaners; hair clippers; spark plugs; generators; bicycle lights; electric amps; television cameras; various types of TVs; video projectors.</li><li>Vehicles and parts: axles; driving shafts; gear boxes; radiators.</li><li>Parachutes</li><li>Ships and boats: sailboats;&#xa0;motorboats; canoes;&#xa0;yachts.</li><li>Instruments for scientific or medical purposes: microscopes; cameras for non-art purposes; gauges for pressure, electrical currents, and more.</li><li>Clocks and watches</li><li>Furniture, bedding, mattresses: car seats; wood chairs; furniture designed for offices, kitchens, and more; mattresses; chandeliers; lamps.</li><li>Assorted items: buttons; stamps; paintings; collections of zoological, botanical, mineralogical, anatomical, historical, archaeological interest; antiques of an age exceeding one hundred years</li></ul>&#xa0;<div><p style=" margin: 12px auto 6px auto; font-family: Helvetica,Arial,Sans-serif; font-style: normal; font-variant: normal; font-weight: normal; font-size: 14px; line-height: normal; font-size-adjust: none; font-stretch: normal; -x-system-font: none; display: block;"> <a title="View China tariff list on Scribd" href="https://www.scribd.com/document/383657448/China-tariff-list#from_embed" style="text-decoration: underline;">China tariff list</a> by <a title="View Brett LoGiurato's profile on Scribd" href="https://www.scribd.com/user/187024194/Brett-LoGiurato#from_embed" style="text-decoration: underline;">Brett LoGiurato</a> on Scribd</div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/north-korean-defector-calls-out-kim-jong-un-terrorist-singapore-summit-2018-6">North Korean defector: Kim Jong Un 'is a terrorist'</a></h3> <div> </div> </div></hr>

Trump wants to hit another $200 billion worth of Chinese imports with tariffs - here's what could get slammed

<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div><ul class="summary-list"><li>President Donald Trump announced tariffs on $200 billion worth of Chinese goods on Monday, escalating the US-China trade war.</li><li>The tariffs will apply to a slew of Chinese goods, ranging from minerals to food to clothing.</li><li>The US Trade Representatives office removed almost 300 items from an initial list released in July.</li><li>But&#xa0;5,745 Chinese goods will still get hit. </li><li>We complied the major categories of goods that will be subject to the tariffs.</li></ul>President Donald Trump kicked the trade war with China into high gear Monday, formally announcing the <a href="https://www.businessinsider.com/trump-china-trade-war-tariff-chinese-goods-2018-9">imposition of tariffs on $200 billion worth of Chinese goods</a>.The tariffs cover a wide array of goods, from minerals used in manufacturing, to vegetable juices, to leather handbags. All of the goods with face a 10% duty until the start of 2019, when the tariffs will jump to 25%.While the <a href="https://www.businessinsider.com/trump-china-trade-war-wilbur-ross-tariff-price-increase-2018-9">Trump administration is downplaying</a> the effect of the tariffs, many economists expect prices for these goods will increase once the tariffs are officially imposed on September 24.The new list of goods that will be subject to the tariffs was released by the US Trade Representative Robert Lighthizer's office on Monday.The final list is notably different from the <a href="https://www.businessinsider.com/trump-china-tariff-full-list-of-goods-products-2018-6">previous round of tariffs</a> on $50 billion worth of Chinese goods, because there are consumer products on the list. The previous round focused <a href="https://www.businessinsider.com/trump-tariffs-trade-war-prices-go-up-2018-4">almost exclusively on industrial equipment</a> and machinery, while the new round includes items like hats, TVs, and food.There were 297 items removed from the USTR's initial list, released in July, after the public comment periodThose include:<ul><li>Certain consumer electronics including smartwatches and bluetooth devices</li><li>Certain industrial chemicals used for manufacturing textiles</li><li>Certain health and safety products including bicycle helmets</li><li>Certain types of child safety furniture including high chairs and car seats</li></ul>The USTR did not specify how it determined which products to remove beyond assertions that the official followed an inter-agency procedure and listened to feedback from businesses. The <a href="https://www.businessinsider.com/trump-trade-tariffs-apple-products-cloud-industry-2018-9?r=UK&amp;IR=T">smartwatch removal drew interest</a> after it was revealed that Apple, makers of the Apple Watch, <a href="https://www.washingtonpost.com/technology/2018/09/18/trumps-tariffs-wont-bite-apple-illustrating-tim-cooks-political-sway/">directly lobbied the White House</a>.Even with the removals, 5,745 full or partial tariff lines are included on the final list that represent roughly $200 billion worth of Chinese imports.Here's a breakdown of the major categories included in the list:<ul><li>Meat:&#xa0;pork; beef intestine; rabbit meat; venison; frog legs</li><li>Fish and seafood:&#xa0;live fish including ornamental fish, trout, eels, tuna, and carp; chilled or frozen meat of various types of trout, salmon, halibut, plaice, sole, albacore, tuna, herring, mackerel, cobia, swordfish, pollack, whiting, catfish, rays, and more; various types of salted or smoked fish; other seafood including various types of lobsters, crabs, shrimps, prawns, oysters, scallops, mussels, clams, squid, octopus, conchs, abalone, sea cucumbers, and sea urchins.</li><li>Non-meat animal products such as eggs and dairy:&#xa0;Whey products; butter; various types of eggs including chicken; honey; hair of animals including human, hog, horse and badger; animal intestines, bladders; feathers; bones including shells, beaks, corals, hooves, antlers, and more.</li><li>Vegetables:&#xa0;onions; garlic; cauliflower and broccoli; cabbage; carrots; turnips; radishes; beats; cucumbers; peas of various types; beans; lentils; celery; mushrooms; peppers of various types; squash; okra; sweet corn; potatoes; sweet potatoes and yams; some types of tomatoes; spinach; Brussels sprouts.</li><li>Fruit and Nuts:&#xa0;Coconuts; cashews; almonds; hazelnuts; walnuts; chestnuts; pistachios; macadamia nuts; pecans; dates; figs; pineapples; guavas; oranges; mandarins; clementines; raisins; grapes; apples; pears; quinces; peaches; berries including strawberries, raspberries, cranberries, blueberries and others; bananas; a variety of dried fruits; peels of various fruits.</li><li>Cereals:&#xa0;wheat, including durum wheat; barley; oats; corn; various types of rice; grain sorghum; buckwheat; quinoa; and more.</li><li>Mill products:&#xa0;flours including those form wheat, corn, buckwheat, rice, rye, other cereals, potatoes, and bananas; groats and meal of various types including wheat, corn, oats, and rice; malt; starches of wheat, corn, potato, and more</li><li>Oil seeds:&#xa0;soybeans; seeds of sunflower, flax seed, sesame, mustard, poppy and more; planting seeds for certain crops; cocoas and mint leaves; and seaweeds.</li><li>Sugars and candies:&#xa0;cane sugar; candies with no cocoa</li><li>Breads and Pasta:&#xa0;uncooked pasta; various breads, pastries, cakes, and biscuits.</li><li>Prepared vegetables and fruits:&#xa0;various vegetables and fruits previously listen in their prepared or preserved forms; various fruit jams including strawberry, pineapple, apricot, and more; peanut butter; various fruit juices including orange, pineapple, lime, grape, apple, and more.</li><li>Other food items:&#xa0;soy sauce; condiments and seasonings; protein concentrates.</li><li>Beverages and vinegars:&#xa0;water, including mineral water; fruit or vegetable juices and juice mixes; beer from malt; wine, including rice wine; ethyl alcohol; vinegars</li><li>Food processing waste and animal feed:&#xa0;brans from processing; oil cakes; dog or cat food; animal feed</li><li>Tobacco products:&#xa0;various types and preparations of tobacco; tobacco refuse; cigars; cigarettes; smoking tobacco</li><li>Salts and minerals:&#xa0;salt/sodium chloride; sulfur; graphite; quartz; types of clays; chalk; slate; marble; granite; sandstone; dolomite; gypsum; some plasters; some types of cement; mica; Epsom salts</li><li>Ores, slag, and ash:&#xa0;ores of iron, copper, nickel, cobalt, aluminum, lead, zinc, tin, chromium, tungsten, uranium, titanium, silver, other precious metals, and others; slag, various types of ash.</li><li>Mineral fuels and oils:&#xa0;coal; lignite; peat; coke; tars; various types of light oil; various types of kerosene; petroleum oils; liquefied fuels including natural gas, propane, butane, ethylene, and petroleum; oil shale and tar sands</li><li>Inorganic Chemicals:&#xa0;chemicals such as chlorine, sulfur; carbon, nitrogen, oxygen, and silicon; acids including sulfuric, nitric, and more; various types of fluorides, chlorides, sulfates, nitrates, carbonates, and more. (See full list below.)</li><li>Organic chemicals:&#xa0;(See full list below.)</li><li>Fertilizers:&#xa0;animal or vegetable fertilizers; urea; ammonium sulfate; sodium nitrate; and more.</li><li>Tanning and drying extracts, dyes, and paints</li><li>Essential oils, perfumes:&#xa0;perfume; lip or eye make up preparations; manicure or pedicure products; shampoo; hairspray; bath salts.</li><li>Soaps and cleaning products: various types of soap; leather and textile treatments; polishes for shoes and furniture.</li><li>Glues, adhesives, and enzymes</li><li>Cigarette lighter fluid</li><li>Photographic goods:&#xa0;various types of photo plates; instant film; various types of film in rolls; various types of motion picture film.</li><li>Various chemical products:&#xa0;pesticides; herbicides; fungicides</li><li>Plastics:&#xa0;vinyl flooring and other plastic floor and wall coverings; sausage casings; bags; gloves including baseball gloves; rain jackets; machinery belts.</li><li>Rubber:&#xa0;latex; rods, tubes, and other products; conveyor belts; various types of transmission belts; various types of pneumatic tires; gloves; gaskets; dock fenders.</li><li>Raw hides and leather:&#xa0;animal skins including cow, buffalo, sheep, goats, reptile; various types of leather made from cow, buffalo, sheep, goats, reptile; leather trunks and suitcases; leather handbags; CD cases; gloves including ski, ice hockey, and typical use; belts; fur clothing, incluidng artificial fur.</li><li>Wood:&#xa0;fuel wood; charcoal; various types of wood including oak, beech, maple, ash and cherry; moldings; rods; particleboard; various types of plywood; doors; corks and stoppers; wicker and bamboo baskets.</li><li>Wood pulp products</li><li>Paper:&#xa0;Newsprint; writing paper; vegetable parchment; carbon paper; self-adhesive paper; cigarette paper; envelopes; tablecloths; handkerchiefs; folders.</li><li>Silk</li><li>Wool or animal hair products:&#xa0;cashmere; yarns; tapestries and upholstery.</li><li>Cotton:&#xa0;fibers; thread; yarn; denim; satin.</li><li>Flax: yarn; fabrics</li><li>Man-made textiles:&#xa0;polypropylene; rayon; nylon; polyester</li><li>Other textile products, rope, twine:&#xa0;hammocks; fish nets; carpets;</li><li>Fabrics:&#xa0;corduroy; gauze; terry towel; lace; badges; embroidery</li><li>Headgear: caps; hairnets; wool hats; head bands.</li><li>Stone, plaster, cement, asbestos:&#xa0;stone for art; marble slabs; roofing slate; millstones; sandpaper; floor or wall tiles; cement bricks.</li><li>Ceramics:&#xa0;fire bricks; pipes; tiles; porcelain and china.</li><li>Glass and glassware:&#xa0;balls; rods; drawn or blown glass; float glass; tempered safety glass; mirrors; carboys, bottles, jars, pots, flasks, and other containers; microscope slides; woven fiberglass</li><li>Precious stones and pearls:&#xa0;industrial diamonds;&#xa0;silver and products made of silver; gold and products made of gold; platinum; palladium.</li><li>Iron and steel and products derived from the metals:&#xa0;drums; tubes; pipes; doors; windows; screws; horseshoes;</li><li>Copper: plates; cables; tubes; pipes; springs</li><li>Nickel:&#xa0;bars; rods; wires</li><li>Aluminum:&#xa0;powder; cable; wire; screws.</li><li>Various metal products, tools, cutlery:&#xa0;industrial items made from lead, zinc, tin, and more; saw blades; bolt cutters; hammers; wrenches; crow bars.</li><li>Machinery, both industrial and retail:&#xa0;steam turbines; engines; fuel-injection pumps; air compressors; air conditioning machines; refrigerators; cream separators; hydraulic jacks; escalators; manure spreaders; copiers; automatic beverage-vending machines</li><li>Electronics:&#xa0;vacuum cleaners; hair clippers; spark plugs; generators; bicycle lights; electric amps; television cameras; various types of TVs; video projectors.</li><li>Vehicles and parts:&#xa0;axles; driving shafts; gear boxes; radiators.</li><li>Parachutes</li><li>Ships and boats:&#xa0;sailboats; motorboats; canoes; yachts.</li><li>Instruments for scientific or medical purposes:&#xa0;microscopes; cameras for non-art purposes; gauges for pressure, electrical currents, and more.</li><li>Clocks and watches</li><li>Furniture, bedding, mattresses:&#xa0;car seats; wood chairs; furniture designed for offices, kitchens, and more; mattresses; chandeliers; lamps.</li><li>Assorted items: buttons; stamps; paintings; collections of zoological, botanical, mineralogical, anatomical, historical, archaeological interest; antiques of an age exceeding one hundred years</li></ul>Here is the full list, via the USTR:&#xa0;<div><p style=" margin: 12px auto 6px auto; font-family: Helvetica,Arial,Sans-serif; font-style: normal; font-variant: normal; font-weight: normal; font-size: 14px; line-height: normal; font-size-adjust: none; font-stretch: normal; -x-system-font: none; display: block;"> <a title="View US-China Tariff List 09.17.18 on Scribd" href="https://www.scribd.com/document/388885888/US-China-Tariff-List-09-17-18#from_embed" style="text-decoration: underline;">US-China Tariff List 09.17.18</a> by <a title="View Brett LoGiurato's profile on Scribd" href="https://www.scribd.com/user/187024194/Brett-LoGiurato#from_embed" style="text-decoration: underline;">Brett LoGiurato</a> on Scribd</div> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/inside-trump-maga-hat-factory-california-make-america-great-again-2018-8">Inside the Trump MAGA hat factory</a></h3> <div> </div> </div>

Trump just announced tariffs on another $200 billion worth of Chinese goods. Here are all the products that will get hit.

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Skye Gould/Business Insider</div></div></div>Solving America's energy problems, like reducing dependence on foreign oil and moving the country to a lower-carbon economy, will be a major election issue and a top priority for the next president.<a href="https://www.hillaryclinton.com/briefing/factsheets/2015/09/23/hillary-clinton-vision-for-modernizing-energy-infrastructure/">Hillary Clinton's energy plan</a> is thoughtful and detailed, to the level of addressing funding sources. Her campaign has placed a priority on investing in and incentivizing renewable-energy technology to help create jobs and transition the US to a lower-carbon economy.She mentioned boosting domestic solar power production - which is an <a href="http://www.businessinsider.com/wunder-capital-solar-investing-2016-6">increasingly profitable market</a> - as a priority for her campaign, in the first debate in September. Here's where Clinton stands. <div class="KonaFilter image-container display-table"><div><div class="image on-image">Skye Gould/Business Insider</div></div></div><h2>Renewable energy</h2>Clean technology - solar, wind, and hydroelectric - is a rapidly growing sector of the US economy. Clinton's campaign has the stated goal of generating half of the US's electricity from renewable resources by the end of her first term. Her campaign has specific strategies for accomplishing this, including launching a $60 billion <a href="https://www.hillaryclinton.com/issues/climate/">Clean Energy Challenge</a> to partner with local municipalities to cut carbon pollution and expand clean-energy technology to lower-income families.Clinton also wants to cut oil and gas subsidies and invest in clean-energy research, specifically installing a half-billion solar panels by the end of her first term, according to <a href="http://sciencedebate.org/20answers">Science Debate</a>. <div class="KonaFilter image-container display-table"><div><div class="image on-image">REUTERS/Balazs KoranyiThree oil and gas rigs owned by Transocean Ltd sit idle in the Grand Harbor in Valletta, Malta October 22, 2015.</div></div></div><h2>Oil drilling </h2>Oil drilling is an efficient yet highly destructive and invasive process for obtaining fossil fuel.In March, the Obama administration announced that it would <a href="https://www.washingtonpost.com/news/energy-environment/wp/2016/03/15/obama-pulls-plans-to-allow-oil-drilling-off-southern-atlantic-coast/?utm_term=.2ae5dac64826">not open new oil reserves</a> near the southeastern Atlantic coast for drilling. Obama, however, did free up three massive reserves on sensitive habitat in Alaska earlier this year, though environmental activists say the land <a href="http://www.theatlantic.com/technology/archive/2016/03/will-any-oil-company-ever-drill-in-the-arctic/474234/">should never be drilled</a>. Clinton opposes Arctic drilling and has expressed skepticism for oil production off the southeastern Atlantic coast, according to <a href="http://www.cfr.org/campaign2016/hillary-clinton/on-energy-and-climate">CFR</a>. Some experts say that closing the southeastern Atlantic to oil drilling is a smart move. Installing wind power off of the southeastern Atlantic coast could produce more jobs and more energy over the next two decades than drilling for oil, according to <a href="http://oceana.org/sites/default/files/sc_offshoreenergy_op.pdf">a study</a> from Oceana, a conservation-focused environmental nonprofit.<h2><div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://pictures.reuters.com/archive/USA--TB3EACB1GDLSQ.html">Jim Urquhart/Reuters</a>Lee White pumps water from a natural gas well platform owned by Encana south of Parachute, Colorado, December 8, 2014.</div></div></div></h2><h2>Hydraulic fracturing or 'fracking'</h2>Fracking is a method of injecting liquid deep into the earth's crust to release previously inaccessible natural-gas reserves. Fracking has helped the US significantly increase domestic fuel production, and it's a popular method anywhere there's shale, like North Dakota, Pennsylvania, and Oklahoma. Fracking has also come under intense scrutiny for its environmental impact. It has been shown to <a href="http://www.scientificamerican.com/article/fracking-can-contaminate-drinking-water/">contaminate groundwater</a> - used for drinking - in Wyoming, and there have been <a href="http://www.theoec.org/campaign/fracking-impacts-water-quality">multiple</a> <a href="http://www.athensnews.com/opinion/readers_forum/study-on-fracking-health-risks-reinforces-call-for-moratorium/article_bb60bb35-8424-5d6e-a1b9-159258c07e9c.html">reports</a> all over the US of similar issues. Wastewater disposal from fracking, which is injected deep into the ground, has also been <a href="http://www.ecowatch.com/fracking-earthquakes-2013542184.html">linked to earthquakes</a> in Texas. <a href="https://www.hillaryclinton.com/briefing/factsheets/2016/02/12/hillary-clintons-plan-for-ensuring-safe-and-responsible-natural-gas-production/">Clinton's campaign</a> has expressed that domestically produced natural gas can play an "important role in the transition to a clean energy economy." Her campaign also said that they'll focus on creating new standards and safeguards to make fracking safer and less environmentally destructive. <div class="KonaFilter image-container display-table"><div><div class="image on-image">REUTERS/Jonathan ErnstActivists hold a rally against government approval of the planned Keystone XL oil pipeline, in front of the White House in Washington January 10, 2015.</div></div></div><h2>Keystone XL pipeline</h2>The Keystone XL pipeline is a proposed $8 billion oil pipeline that would bring crude oil from Alberta, Canada, to refineries on the Gulf coast of Texas, reports <a href="http://www.nytimes.com/2016/01/07/business/international/transcanada-to-sue-us-for-blocking-keystone-xl-pipeline.html">The New York Times</a>. It was the subject of massive protests over the past few years and was ultimately vetoed by the Obama Administration.Most of the oil produced in Alberta's oil sands - a process with <a href="http://www.businessinsider.com/photos-destructive-canada-oil-sands-2012-10/#t-thousands-flock-here-to-make-real-money-in-the-oil-sands--where-creating-synthetic-crude-begins-in-the-strip-mine-3">notorious environmental repercussions</a> - is bought by American companies. The Clinton campaign opposes construction of the Keystone XL oil pipeline, saying that the project, "distracts from U.S. efforts to combat climate change," according to <a href="http://www.cfr.org/campaign2016/hillary-clinton/on-energy-and-climate">CFR</a>. Clinton echoed Obama's comments regarding the pipeline, when he said in a <a href="https://www.whitehouse.gov/the-press-office/2015/11/06/statement-president-keystone-xl-pipeline">2015 statement</a> that the pipeline "has occupied what I, frankly, consider an over-inflated role in our political discourse." The pipeline, according to Obama, would not lower gas prices for American consumers, nor would it make any "meaningful, long-term contributions," to the US economy. The Obama Administration <a href="http://www.businessinsider.com/trancanada-is-suspending-its-permit-for-the-keystone-xl-pipeline-2015-11">rejected</a> Trans Canada's application last year. Clinton has remained silent on the proposed Dakota Access Pipeline, which has been the subject of protests by the Standing Rock Sioux tribe on the border of North and South Dakota in recent weeks. The pipeline could pose a threat to the local environment and water resources.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Sascha Schuermann/Getty ImagesA coal miner.</div></div></div><h2>Coal power</h2>Coal is one the cheapest and most polluting fuel sources. Coal production <a href="http://www.eia.gov/totalenergy/data/monthly/#coal">has fallen</a> over the past decade, and it's critical to the economies of many Appalachian and Rust belt states. Coal power is the US's <a href="http://www.ucsusa.org/clean_energy/coalvswind/c02c.html#.V-WIfJMrIlK">top source of carbon dioxide</a> - a primary cause of global warming - in the air, according to the Union of Concerned Scientists, a nonprofit advocacy organization.Clinton's campaign announced a <a href="https://www.hillaryclinton.com/briefing/factsheets/2015/11/12/clinton-plan-to-revitalize-coal-communities/">$30 billion initiative</a> to invest in the "economic diversification" of former coal-mining towns. Clinton's plan, while supporting long-term healthcare for retired coal miners, will also focus on redeveloping former coal-mine sites for different uses. She'll finance her plan using "unappropriated" resources from the <a href="https://www.law.cornell.edu/uscode/text/30/1231">Abandoned Mine Reclamation Fund</a>.<h2><div class="KonaFilter image-container display-table"><div><div class="image on-image">Thomson ReutersSteam and other emissions are seen coming from a power station.</div></div></div>Emissions</h2>Reducing harmful emissions from power generation is one of the key tenets of the <a href="http://www.businessinsider.com/obama-paris-climate-change-agreement-2015-12">Paris climate accords</a>, an international agreement ratified by over 60 countries.Clinton's campaign <a href="https://www.hillaryclinton.com/issues/climate/">called for</a> reducing gas emissions based on the terms set by the Paris agreement by up to 30% by 2025, relative to 2005 levels, and to "put the country on a path" to cutting emissions more than 80% by 2050. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/brutal-hillary-clinton-ad-donald-trump-debate-2016-9">Watch the brutal Hillary Clinton ad that pits Trump against himself</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="lsbWY2NjE6yF6b_VF7iQaBKwS-bHRI1_" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Here's where Hillary Clinton stands on energy issues

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">REUTERS/Philip Massie</div></div></div>The major stock averages finished the day little-changed while shares of Valeant Pharmaceuticals, the most high-profile holding of high-profile hedge fund manager Bill Ackman, fell 50% after a run of very disappointing earnings news. First, the scoreboard:<ul><li>Dow: 17,237.5, +8, (+0.05%)</li><li>S&amp;P 500: 2,014, -5, (-0.3%)</li><li>Nasdaq: 4,726, -23, (-0.5%)</li><li>WTI crude oil: $36.45, -2%</li></ul><h2>Bill Ackman's Terrible, Horrible, No, Good Very Bad Day</h2>The header sort of says it all. Bill Ackman, by our math, <a href="http://www.businessinsider.com/pershing-square-holdings-halted-2016-3">lost about $1 billion on Tuesday</a> as shares of Valeant Pharmaceuticals were cut in half after the <a href="http://www.businessinsider.com/r-valeant-cuts-2016-revenue-forecast-2016-3">company gave a disappointing earnings outlook</a> and <a href="http://www.businessinsider.com/valeant-q1-guidance-call-2016-3">basically did nothing</a> to reassure investors that the very messy last six months are close to being anything like fixed.Here are some of the gory details from Linette Lopez (emphasis mine):The way analysts talked to Pearson on Tuesday morning was the same way a parent talks to a teenager who just had the police called on his or her house party. It was the same way you talk to a dog that just chewed up the furniture. One analyst, David Maris of Wells Fargo, even asked Pearson if he would forgo his golden parachute if the board asked him to leave.Pearson sounded clueless. He said he didn't even know he had a golden parachute totaling about $200 million. He also said he didn't know when the company would release its annual report, giving April as his best guess. Valeant will be penalized if it isn't released by March 16.It was just one of many missteps on the call led by a man who once could do no wrong on Wall Street. Fudged numbers, estimate changes, issues with the company's new business model and partners - the analysts, usually so lenient with Valeant - caught it all.So this went badly!And it is almost unbelievable that a company worth roughly $20 billion in the morning would be worth half that at the close. But it happened. <a href="http://www.businessinsider.com/r-valeant-cuts-2016-revenue-forecast-2016-3">The stock chart is real</a>.The amazing thing, though, is that this is not a new problem. Certainly the stock falling 50% today is new, but consider that shares of Valeant <a href="http://www.businessinsider.com/valeant-shares-crash-october-21-2015-10">fell as much as 40% in one day</a> back in October. In the last six months, the stock is off 80%. There is so much to say here: on the hubris on management, on the company's major shareholders, on the pharmaceutical-industrial complex that more or less enabled the roll-up strategy the company propagated in the last several years. With Tuesday's collapse Valeant shares are now basically flat over the last five years. And while this is certainly a convenient time for value-based investors to look at Valeant and related parties and have the last laugh, we'll give The Motley Fool's Morgan Housel <a href="https://twitter.com/TMFHousel/status/709788580932145152">credit where credit</a> is due on nailing what seems to have really gone wrong here/ Housel <a href="https://twitter.com/TMFHousel/status/709788580932145152">tweeted Tuesday</a> that Facebook CEO Mark Zuckerberg has made clear he doesn't really care about the money. And now he has tens of billions. Valeant CEO Mike Pearson, in contrast, has made clear he measures success by value returned to and created for shareholders. And the project has gone up in flames. In entirely unrelated pharmaceutical news, <a href="http://www.businessinsider.com/pharmaceutical-company-stock-up-over-300-2016-3">shares of Celator Pharmaceuticals gained more than 300%</a>. <h2>US Economy</h2>It's a busy week for US economic data and Tuesday saw the week's largest data-dump. At 8:30 a.m. ET we got a <a href="http://www.businessinsider.com/empire-fed-manufacturing-march-2016-2016-3">manufacturing reading from the New York Fed</a> that came in better-than-expected, <a href="http://www.businessinsider.com/retail-sales-february-2016-2016-3">retail sales fell less than expected</a>, while the latest reading on <a href="http://www.businessinsider.com/producer-price-index-march-15-2016-3">producer prices fell 0.2%</a>, in-line with expectations. <a href="http://www.businessinsider.com/nahb-housing-market-index-march-2016-2016-3">Homebuilder confidence</a> came in slightly lower than expected, though this measure's March reading matched the level seen in February. On balance, well, it was all fine. Nothing major happening in the economy that we didn't know about already, basically. Retail sales were a slight disappointment but, again, this is a series that uses nominal dollars and so the 0.1% headline decline in February's sales was impacted by a decline in the price of oil. The biggest jump in sales seen during the month came from building materials retailers. So that's good! In the producer price index the cost of medical services rose more than the prior month, indicating potential upside for the next PCE inflation reading. This measure, which is preferred by the Fed over the consumer price index (which we'll get on Wednesday morning), <a href="http://www.businessinsider.com/personal-income-and-spending-feb-26-2016-2">rose to 1.7% in January</a> and is quickly closing in on the Fed's 2% goal. <h2>Federal Reserve</h2>The Federal Reserve kicked off its two-day meeting on Tuesday which will culminate in Wednesday afternoon's policy announcement at 2:00 p.m. ET and a press conference from Fed Chair Janet Yellen at 2:30 p.m. ET. Expectations are for the Fed to keep interest rates pegged at 0.25%-0.50%. The more interesting part of the release will be the updated "dot plot" - which gives a "House view" of sorts on where Fed officials think interest rates will be at various points in the future - as well as new economic projections for GDP, unemployment, and inflation. Chair Yellen's press conference will also, of course, be closely tracked, particularly for any indications that the Chair sees inflation pressures building in way that the Fed will not choose to look past. For years inflation has run below the Fed's 2% target, but as we noted ticked higher in January and signs point to growing price increase in the economy. But will the Fed, as it did in 2014, view this increase as temporary? Or will the Fed begin, for the first time in the post-crisis era, see durable, robust price pressures make their way into the economy. And, if they believe "this time is different" on the inflation front, how will this shape the path of future policy? We'll have full coverage tomorrow. <a href="http://www.businessinsider.com/fomc-meeting-statement-preview-march-2016-3">To hold yourself over, read Akin Oyedele's full preview here</a>. <h2>Amazon</h2>Regular readers of this space know we love Amazon. And on Tuesday, analysts at <a href="http://www.businessinsider.com/amazon-planning-world-domination-2016-3">RBC Capital Markets covering freight transportation stocks wrote</a> about how firms and investors in their coverage area have taken notice of Amazon's move into the more boring logistics space. Not unlike the shockwaves seen through media stocks in recent months, the worries here are that investors in companies like, say FedEx or UPS, will start to get nervous about how Amazon will eventually impact operations even if the clear endgame isn't known. In fact, it will likely be even worse until the endgame is clear, regardless of who wins. Here's RBC (all emphasis mine):Amazon has been making waves across our coverage universe over the past few months by taking what appears to be a targeted and methodical approach to procuring and managing freight transportation capacity internally rather than outsourcing. These actions coupled with several peak shipping seasons of underwhelming service performance by FDX and UPS led to a great deal of concern among investors that Amazon is in the process of actively developing its own internally controlled supply chain capable of moving product across the globe all the way to a customer's doorstep.Our view is that this is partially true: Amazon is trying to build a global supply chain to reduce costs and create deeper customer relationships. Similarly, we believe Amazon is working to create a limited pickup and delivery operation to meet niche customer requirements and to keep the traditional parcel carriers "honest" with regards to pricing and service commitments. However, we do not think the company can yet build a full-scale pickup and delivery business capable of supplanting the likes of UPS, FDX and the USPS.At the core, we think the decisions Amazon is making today parallel those made by Walmart during the 1980s, as the company began to integrate itself more fully with its suppliers to aggressively reduce costs across all aspects of its business, especially the supply chain. This can accomplish two things: reduce costs in any way possible and ensure that customers receive goods in a timely manner year round.So, a lot to unpack here (<a href="http://www.businessinsider.com/amazon-planning-world-domination-2016-3">you can read my full thoughts on the matter here</a>), but the basic point is that more and more industries no longer look at Amazon at arm's length: they are knock at the door. Loudly. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/mythbusters-co-hosts-no-more-2016-3">Adam Savage reveals why he and 'MythBusters' cohost Jamie Hyneman won't be working together anymore</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="8yMjBqMTE64Z8GLc4yQx9nPkambvO6n4" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

STOCKS DO NOTHING, VALEANT CRASHES: Here's what you need to know

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">AP/Lionel CironneauYahoo CEO Marissa Mayer</div></div></div>Here are the top business stories of the past seven days. <a href="http://www.businessinsider.com/us-gdp-advance-estimate-q2-2016-2016-7">The US economy</a> grew by less than expected in the second quarter, according to an advance estimate released Friday. But underneath the bad headline is the real story of what's going on in the economy right now, and the story is pretty simple: <a href="http://www.businessinsider.com/us-gdp-shows-the-consumer-is-winning-2016-7">consumers are winning.</a><a href="http://www.businessinsider.com/verizon-acquires-yahoo-2016-7">Verizon bought Yahoo</a>. The deal, announced Monday morning, marks the end of an era for Yahoo and is another piece of what has been a multiyear, <a href="http://www.businessinsider.com/why-verizon-wants-to-buy-yahoo-2016-7">$10 billion plan from Verizon to take on Facebook and Google, the biggest names in digital advertising</a>. Yahoo activist investor, Eric Jackson of SpringOwl asset management, <a href="http://www.businessinsider.com/eric-jackson-springowl-asset-management-yahoo-sale-verizon-2016-7">told Business Insider on Monday his firm was "subdued" by the sale</a>. The sale seemed to <a href="http://www.businessinsider.com/yahoo-hiring-spree-after-verizon-deal-2016-7">trigger a strange hiring frenzy</a>. It is unclear if Marissa Meyer, Yahoo CEO, <a href="http://www.businessinsider.com/marissa-mayer-to-stay-on-at-yahoo-2016-7">will stay with the company</a>. Her golden parachute will be <a href="http://www.businessinsider.com/marissa-mayer-says-yahoo-sale-not-failure">worth $54.9 million if she gets fired</a>. <a href="http://www.businessinsider.com/dallas-fed-manufacturing-activity-july-2016-2016-7">Business leaders in Texas can't find workers who can follow directions and do simple math</a>. The Dallas Federal Reserve announced that its business-activity index figure rose to -1.3 in July. The report also includes comments from respondents' completed surveys, edited slightly for publication. And many in the July report pointed to the shortage of quality labor.<a href="http://www.businessinsider.com/caterpillar-cuts-earnings-forecast-and-warns-about-global-economy-2016-7">The warning signs for the economy started stacking up</a>. Caterpillar, the world's largest maker of massive industrial equipment lowered its 2016 earnings forecast on Tuesday, saying it did not expect economic conditions or its key industries to improve. The restaurant sector <a href="http://www.businessinsider.com/restaurant-sector-recession-could-lead-the-economy-lower-2016-7">could be sending a warning sign about the US economy</a>, too. And service-sector activity in July grew at the slowest pace in five months, according to Markit Economics' preliminary report. <a href="http://www.businessinsider.com/oil-bear-market-july-2016-2016-7">Oil is in a sneaky bear market</a><a href="http://www.businessinsider.com/oil-bear-market-july-2016-2016-7">.</a> West Texas Intermediate crude and Brent crude prices have fallen by over 20% since their <a href="http://www.businessinsider.com/q2-of-2016-was-oils-best-since-the-global-financial-crisis-2016-6">respective early-June peaks</a>.<a href="http://www.businessinsider.com/federal-reserve-policy-statement-july-27-2016-7">The Fed held rates</a>. There are now fewer reasons to be worried about the US economy, according to the Federal Reserve. "Near-term risks to the economic outlook have diminished," the Fed's policy statement said on Wednesday. As expected, the Federal Open Market Committee left the benchmark fed funds rate unchanged in a 0.25% to 0.50% range.<a href="http://www.businessinsider.com/deutsche-bank-second-quarter-results-revenue-profit-net-income-all-fall-2016-7">Deutsche Bank's profits nosedived</a>. Profits fell in the second quarter nosedived to just <a href="http://www.businessinsider.com/deutsche-bank-second-quarter-results-revenue-profit-net-income-all-fall-2016-7">20 million euros</a>, or $22 million, from 800 million euros in the same period last year. John Cryan, the bank's CEO, <a href="http://www.businessinsider.com/deutsche-bank-second-quarter-2016-results-2016-7">said something that should frighten the bank's employees</a>. Edward Misrahi, the founder and chief investment officer of Ronit Capital, said<a href="http://www.businessinsider.com/ronit-capital-edward-misrahi-deutsche-bank-2016-7"> that Deutsche Bank was his No. 1 short trade</a>.<a href="http://www.businessinsider.com/linear-technology-analog-devices-merger-talks-2016-7">A big tech deal landed</a>. Analog Devices <a href="http://investor.analog.com/releasedetail.cfm?ReleaseID=981238">struck a deal to buy chipmaker Linear Technology</a>. The $30 billion merger is more <a href="http://www.businessinsider.com/linear-technology-analog-devices-merger-talks-2016-7">evidence of the tech market's most dominant trend right now</a>. There are <a href="http://www.businessinsider.com/analog-devices-linear-technologies-advisers-credit-suisse-2016-7">two clear winners on Wall Street from the deal</a>. <a href="http://www.businessinsider.com/bridgewater-responds-to-new-york-times-2016-7">Bridgewater Associates fired back</a>. The giant hedge fund hit back at <a href="http://www.businessinsider.com/bridgewater-responds-to-new-york-times-2016-7">The New York Times for its recent story on the company's culture</a>. Bridgewater called the story a<a href="http://www.businessinsider.com/bridgewater-responds-to-new-york-times-2016-7">"distortion of reality"</a> - but only part of it. The firm has always proudly owned the part of its culture where everything is recorded, either on audio or video, in the name of "radical transparency."<a href="http://www.businessinsider.com/facebook-earnings-round-up-of-analyst-reaction-q2-2016-7">Facebook crushed it</a>. Facebook smashed it last quarter, and Wall Street went nuts. <a href="http://www.businessinsider.com/facebook-q2-2016-earnings-2016-7">The social-networking giant reported its second-quarter earnings on Wednesday</a> - and the numbers beat analysts' expectations on just about every important metric.<a href="http://www.businessinsider.com/ford-misses-on-q2-earnings-says-there-are-risks-to-achieving-guidance-2016-7">And Ford whiffed</a>. Ford on Thursday reported second-quarter earnings that missed analysts' expectations, also saying there were risks to achieving the company's full-year outlook. Business Insider spoke with CFO Bob Shanks right after earnings were released, and he said that while issues surrounding Britain's vote to leave the European Union and challenges with the struggling Brazilian market might have looked like major problems for the quarter, Ford had actually planned for them. But he did point to a red flag for the entire auto market: <a href="http://www.businessinsider.com/ford-cfo-unexpected-risks-for-the-rest-or-the-year-2016-7">There has been an unexpected acceleration in the pace of incentive spending</a>.<a href="http://www.businessinsider.com/amazon-earnings-q2-2016-2016-7">Amazon is on a roll</a>. It beat across the board, with Amazon setting another record-high quarterly profit for the third consecutive quarter. It also transpired that a business Amazon launched a year ago <a href="http://www.businessinsider.com/amazon-business-hits-1-billion-in-a-year-2016-7">has already generated $1 billion of revenue</a>. <a href="http://www.businessinsider.com/sab-miller-employees-told-to-stop-working-on-the-ab-inbev-deal-2016-7">The biggest takeover</a> in years had a rocky patch when SABMiller and its shareholders were waffling about the price of its takeover by Anheuser-Busch InBev. But that's <a href="http://www.businessinsider.com/sabmillers-board-recommends-ab-inbevs-new-offer-2016-7">over now</a>, and Chinese regulators approved the deal too. <a href="http://www.businessinsider.com/stock-market-trading-range-hits-record-2016-7">The stock market did nothing</a>. The stock market has been really boring. And now we have some data to really - and I mean really - back that up. Ryan Detrick, senior market strategist at LPL Financial, <a href="https://twitter.com/RyanDetrick/status/758738564326694912">noted on Twitter that Thursday</a> marked the 11th straight day the S&amp;P 500 closed inside a 1% trading range, the first time this has ever happened, according to record going back 45 years. This really is the "<a href="http://www.businessinsider.com/sp-500-trading-in-a-range-2016-7">dullest market in decades</a>." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/tony-robbins-paul-tudor-jones-investing-strategy-asymmetric-risk-reward-2016-6">TONY ROBBINS: Here's the secret to investing like hedge fund billionaire Paul Tudor Jones</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="tmdTBiNDE6SKN_YOQvCv5SewPEU8ta9Z" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

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STOCKS DO NOTHING, VALEANT CRASHES: Here's what you need to know

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