1. Aluminum product manufacturer Arconic is negotiating an offer. According to people familiar with the matter, aluminum product manufacturer Arconic Inc. is discussing the acquisition offer for the entire company, even though the company only announced the sale of its building responsible department last month. The company was spun off from Alcoa Corp. in 2016. Arconic said in February that it would complete a "strategy and portfolio evaluation" by the end of 2018, but did not provide details on this. Sources said on Friday that Arconic is in talks with private equity firms interested in acquiring the company, including a consortium of Blackstone Group LP and Carlyle Group LP, another consortium of KKR & Co and Onex Corp. And Apollo Global Management LLC. Arconic shares rose 4.7% on Friday, at $22.23 a share.
2. Officials of China and the United States concluded a two-day trade talk on August 23 and did not make a major breakthrough. The Chinese Ministry of Commerce said on August 24 that China and the United States held deputy ministerial-level consultations on economic and trade issues and had conducted constructive and frank exchanges on economic and trade issues of mutual concern. The two sides will maintain contact on the next steps.The latest round of mutual tariff measures between China and the United States took effect on August 23. A spokesperson for the Chinese Ministry of Commerce said in a statement on the US tax on US$16 billion in Chinese products. China is firmly opposed to this and has to continue to make the necessary counterattacks. The Ministry of Commerce subsequently stated that China had filed a taxation measure against China’s $16 billion exported to the United States under the US 301 investigation.