1 December 2014



Today’s Issue Cluster: US Retail

Internet – Everybody wants to rule the world
Oil – Why cratering prices may not crush shale producers
Europe – Relief in capitals at ‘reasonable’ UK plan to reduce immigration


MAJOR DATA POINTS

Japan – Oct: Core CPI Slows; 0.9% from 1.0% / WSJ / FT * *

China – Nov: Official PMI slips below forecast; 50.3 from 50.8 / R / WSJ / B / X *

India – Q3: Economic Growth Slows; +5.3% from +5.7% / WSJ / FT / NYT

EZ – Nov: Weak Inflation Raises Pressure on ECB; 0.3% from 0.4% / B / WSJ / NYT / R *

EZ – Non: Markit Manufacturing Expansion Grinds to a Halt; 50.1 from 50.6 / WSJ *

Germany – Nov: Markit Manufacturing Slump Pulls Euro Area Near Stagnation; 49.5 from 51.4 / B *

Brazil – Q3: Crawls out of recession; +0.1%, -0.2% yr / FT / WSJ

US – Nov: ISM Manufacturing Index Slows Slightly; 58.7 from 59.0 / WSJ / B / R *


MARKETS



ECONOMICS

World – Fresh Signs of a Global Slump WSJ / E * *


POLITICS & FISCAL POLICY

Taiwan – Premier Resigns After Landslide Defeat WSJ / FT / NYT / R / AP / B / WSJ / FT


MONETARY POLICY

World – Swiss Voters Reject Initiative on Central-Bank Gold WSJ / B / WSJ *

World – India scraps gold import restrictions FT / WSJ


FINANCE

Cards – Rewards: The Deals Get Sweeter WSJ *

Cards – Prepaids Face More Oversight WSJ *


REAL ESTATE

US – Soft New-Home Sales Weigh on Recovery WSJ *

US – Mortgage Lenders Set to Relax Standards WSJ *


SERVICES

Retail – Total Spending Fell 11% for Four-day Period, NRF Says WSJ / NYT *

Retail – Sales edge down at start of season: ShopperTrak R / FT

Retail – Online Sales Jump 22% B

Retail – Early opening eases US Black Friday rush WSJ / FT / NYT / R / NYT / B *

Retail – A Mix of Hope and Fear WSJ * *

Retail – Savings Rate Portends Healthy Holiday Spending WSJ *

Retail – Black friday mentions on the Bberg terminal / b *

Retail – “Black Friday” Mentions as a Percent of All Wire Stories / b *

Retail – Wal-Mart and Target Take Fight to Amazon WSJ

Retail – Surge of shoppers brings Black Friday chaos to UK FT / wsj / NYT / FT / WSJ

Retail – The End of the Impulse Shopper WSJ ** *

Retail – Accessories Are the Latest Fashion for Investors WSJ *


MANUFACTURING



TECH

Internet – European Parliament Approves Google Breakup Resolution FT / WSJ / NYT / R / FT / R / B / R / FT / WSJ / B

Internet – China charges Microsoft $140m for tax ‘evasion’ FT

Internet – Europe Targets U.S. Web Firms WSJ *

Internet – Everybody wants to rule the world E * *


TRADE & TRANSPORTATION

WTO – Reaches Deal to Modernize Global Trade WSJ / R

EU/US – Trade talks delay upsets Italy FT


COMMODITIES



ENERGY & ENVIRONMENT

Oil – Opec Leaves Production Target Unchanged WSJ / NYT / R *

Oil – Energy Quakes as Opec Stands Pat WSJ / FT / B / WSJ *

Oil – Opec’s Twist of Faith for Investors WSJ / NYT *

Oil – Opec may go into hibernation, reports of its death are exaggerated R *

Oil – Opec tests the mettle of US shale industry FT / R *

Oil – Opec Policy Ensures US Shale Crash, Russian Tycoon Says B / FT

Oil – Why cratering prices may not crush shale producers MW *

Oil – Here Comes $60 B / B *

Oil – Nikkei: Prices are in for a protracted slump N *

Oil – Plunge is threat and boon to global economies AP / FT / G&M / B / nyt / FT *

Oil – Isis threatens future oil supplies, warns IEA FT * *


LABOR & EDUCATION

Europe – Swiss voters reject immigration curbs FT / WSJ / NYT

Europe – Study Finds Germany is Benefitting From Immigration WSJ

Europe – Relief in capitals at ‘reasonable’ UK plan to reduce immigration FT / FT / B

Europe – Cameron plans benefits block to stem flow of EU migrants FT / WSJ / B / WSJ

Europe – Net UK migration surges 43% FT * *

Europe – Attitudes to migration and where migrants live ft *


HEALTH



ENDNOTE

Keyboard-shaped waffle iron cnet *


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