Afternoon Coffee: China Sending Trade Envoy to Washington, SwanLeap Named Fastest-Growing Company for 2017

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The U.S.-China trade war saw signs of reprieve Thursday as China announced it is sending an envoy to Washington for talks, the Associated Press reports. The delegation, set to arrive in late August, will discuss “issues of mutual concern,” according to a statement. Both governments are set to impose additional rounds of tariffs next week.

SwanLeap’s Growth 

SwanLeap, a company being called the “eBay of Freight,” took the top spot in Inc.com’s annual list of America’s fastest-growing companies. Madison, Wisconsin-based SwanLeap offers a marketplace solution for freight procurement, where carriers can list their spare space and shippers can bid on spots. In 2017, the company took in just under $100 million and boasted a three-year growth rate of 75,660.8%.

Commodities Prices 

As inflation takes hold, consumer goods manufacturers are beginning to raise prices. The latest example is Kimberly-Clark, the owner of Kleenex and Huggies, which recently reported that it expects full year commodity cost inflation to range between $675 million and $775 million, according to CNBC. Kimberly-Clark will raise prices on most paper products by the "mid-to-high single digits" later this year.

Industrial Output 

And finally, an economic update: U.S. industrial output rose a seasonally adjusted 0.1% in July, held back by weakness in the mining and utilities sectors, The Wall Street Journal reports. Industrial production was up 4.2% year-over-year last month and has been rising since mid-2016.

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