14 March 2014



Today’s Issue Cluster: European Union

China – Big Four Banks See $70b Vanish From Stocks
Mongolia – Property boom set to cool
Pharma – Panel Recommends Replacement for the Pap Test


DATA POINTS

EZ – Q4: Employment Rose in Late 2013; +0.1% / WSJ

Japan – Jan: Industrial output revised downward; +3.8% was +4.0% / K

India – Feb: Wholesale Inflation Eases to 9-Month Low; 4.68% from 5.05% / B / WSJ / ET

US – Feb: Producer prices fall, offer little sign of inflation pressure; -0.1% from +0.2% / R / AP / B / WSJ *

US – Mar: UMich consumer sentiment edges lower; 79.9 from 81.6 / R *


MARKETS

Euro – Relentless rise confounds traders FT / WSJ / B / FT / ft / WSJ *


ECONOMICS

EU – France: Protests against high taxes lead to promises of reforms FT * * *

EU – Italy: Tax-cutting plans fuel debt worries FT

EU – 26 quarters into downturn Italy still 8.9% smaller / r *

EU – UK: Manufacturing output increases FT *

EU – UK: From a spark to a flame E *

EU – UK: Aerospace and automotive are manufacturing’s star performers FT *

EU – UK: Medium-sized companies an overlooked success story FT *

EU – UK: Economic recoveries since 1955 r *

EU – UK: Osborne under pressure to cut taxes FT *

EU – UK: Poll dispels Ukip image as party of disgruntled Tories FT *

EU – Taking Europe’s pulse E * *

EU – Euro zone GDP since 2008 peak / r *

EU – Purchasing Power Index / im *

EU – Average gross hourly earnings per employee / im *


POLITICS & FISCAL POLICY

Ukraine – West readying sanctions after Crimea vote AP / R / FT / B / b *

Ukraine – Tensions rise as two die in Donetsk clashes FT

Ukraine – Russian Troops Mass at Border NYT

Ukraine – Putin ally warns on cost of sanctions FT / WSJ / WSJ *

Ukraine – Jittery customers run on banks in Crimea AP


MONETARY POLICY

BOE – Faces Tough Decisions About Raising Interest Rates WSJ * *


FINANCE

China – China cracks down on mobile phone payments FT / WSJ / NYT / C / CD

China – Big Four Banks See $70b Vanish From Stocks B

China – PBOC ready to cut bank reserves if growth falters R / B / wsj

China – Stimulus Decision Looms as Investment Slows B / WSJ *

China – Fresh corporate default tests resolve FT

China – Li says defaults ‘unavoidable’ WSJ / AP / R / B / q *

China – Official figures both understate and overstate inflation E *


REAL ESTATE

China – Housing Prices to Face New Headwinds WSJ / b / CD * * *

China – ‘No crisis in housing within a decade’ CD

Mongolia – Property boom set to cool N *


SERVICES

Retail – US Sales Rebound After Tough Winter WSJ / B *


MANUFACTURING



TECH

Amazon – Raises Prime delivery price to offset costs FT / WSJ / AP / R / NYT / IBD / WSJ / q * *

Microsoft – Poised to fight back as iPad generation shuns Office R

Intel – SlowS Shift to New Technology WSJ

Alibaba – Tackles weaknesses ahead of IPO FT *

Facebook – Has colonized Europe q *


TRADE & TRANSPORTATION

Rail – US: Surge in Shipments of Oil Sidetracks Other Industries WSJ

Rail – Canada: CP fires back over grain shipments G&M

Rail – Mexico: ‘An attempt to boost competition needs a rethink’ E *


COMMODITIES

Cotton – Traders Wonder: How High Is Too High? WSJ * *


ENERGY & ENVIRONMENT



LABOR & EDUCATION

US – Senators Strike Deal on Long-Term Jobless Benefits WSJ / FT / AP


HEALTH

Pharma – Panel Recommends Replacement for the Pap Test NYT

Pharma – Big companies still betting on “messed up” Indian drugs market R / FT *


ENDNOTES

Top 40 US tech companies not as Silicon Valley-centric as you’d expect motw *


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