Monday's economy & business stories

WSJ: New trade limits on chips for Huawei could hurt U.S. company growth

Illustration: Sarah Grillo/Axios

The Trump administration is weighing new trade restrictions that could force factories across the globe to obtain licenses if they want to use U.S. equipment to make chips for Huawei products, the Wall Street Journal reports.

Why it matters: The restrictions "risk disrupting the global supply chain for semiconductors and dent growth for many U.S. companies," the WSJ reports, citing unnamed U.S. industry participants. One goal of the proposed restrictions is for China to see the action as a threat, per the WSJ.

Go deeperArrowFeb 17, 2020 - World

The next decade of smart city growth

Illustration: Rebecca Zisser/Axios

Transportation and energy upgrades are expected to be the big drivers of smart city spending over the next decade.

Why it matters: Global spending on smart city projects will reach nearly $124 billion this year, an 18% increase over 2019, according to IDC, a market research firm.

How Uber, Lyft made traffic worse

Photo: Smith Collection/Gado/Getty Images.

Ride-sharing companies aren't the traffic solution they'd once hoped to be, the Wall Street Journal reports.

The big picture: "Multiple studies show that Uber and Lyft have pulled people away from buses, subways and walking, and that the apps add to the overall amount of driving in the U.S.," per the Journal.

Jury to deliberate in Weinstein trial without police witnesses

Harvey Weinstein. Photo: Stephanie Keith/Getty Images.

A jury will begin deliberations in Harvey Weinstein's rape trial on Tuesday without testimony from any police witnesses, the Wall Street Journal reports.

Why it matters: Prosecutors called 28 people to testify throughout the trial, including six women who've accused Weinstein of sexual misconduct. But none of the witnesses were law-enforcement officers. Police witnesses add context to cases that could sway how jurors view the case.

How Trump’s economy stacks up

Source: "Presidents and US Economy", Trump figures through 2019 courtesy of Alan Blinder; Note: Data shows real GDP and Q1 growth in each term is attributed to the previous president; Chart: Axios Visuals

Average economic growth under President Trump has outpaced the growth under Barack Obama, but not all of his recent predecessors.

Why it matters: GDP is the most comprehensive economic scorecard — and something presidents, especially Trump, use as an example of success. And it's especially relevant since Trump is running for re-election on his economic record.

GM to exit Australia, New Zealand and Thailand

GM's Holden brand is popular among racing fans down under, and it's been a regular fixture at events like the Bathurst 1000 V8 Supercar Race in Australia. Photo: Speed Media/Icon Sportswire via Getty Images

General Motors is retiring its Holden brand from sales in Australia and New Zealand and winding down operations in the two countries and Thailand by 2021, the company confirmed in a statement Monday.

Why it matters: The Holden brand has been in Australia and New Zealand for 160 years, per a GM statement issued in Australia. It is beloved by many motor racing fans down under. Holden produced Australia's first wholly locally made car in 1948.

Go deeperArrowUpdated Feb 17, 2020 - Economy & Business