17 September 2014



Today’s Issue Cluster: China Economy

Space – Startup Disruption Reaches the Final Frontier
Silicon Valley – ‘Europe strikes back’
Coal – Dirtiest Becomes Most Popular on EPA Rules


MAJOR DATA POINTS

EZ – Aug: Inflation Remains at Record Lows; 0.4% from 0.4% / WSJ / B / NYT *

US – Aug: Consumer prices post first decline in 16 months; -0.2% from 0.1% / R / WSJ / B *


MARKETS

China – Opens Stock Market to Foreign Investors WSJ *

China – Stock Rally Defies Construction Slowdown B *

China – Yuan Takes Corporate Profits Down With It WSJ *


ECONOMICS

China – Economic Slump Complicates Beijing’s Restructuring Plans WSJ *

China – Electricity output contracts 2.2% / b *

China – Cement production growth has slipped sharply q *

China – Moment of Truth: Financial Reform or Growth? WSJ *

China – State Companies Begin Hunt for Investors WSJ *

China – Record number of companies in red ink N * *

China – Firms Feel Unwelcome According to Survey WSJ / WSJ / B *

China – Aims to Shed Light on Local Debt WSJ *

China – Weak Demand for Asia’s Exports Sows Confusion wsj

China – Shanghai free-trade zone struggles to live up to its hype FT / *


POLITICS & FISCAL POLICY



MONETARY POLICY

PBOC – Provides $81b in Liquidity to Five Banks B / WSJ / B / B

PBOC – Struggles as Chinese Borrowers Hold Back WSJ


FINANCE

China – Credit Gauge Misses Estimates as Growth Risks Escalate B / b *

China – ‘Loans enough to ease collapse fears, not enough to drive rebound’ b *

China – Bad loans squeeze profits at biggest banks N *

China – Shape-shifting shadow banks evolve once more E *

China – Securitization Surge Raises Concerns WSJ *

China – State Banks Report Surge in Soured Loans WSJ / FT / R / N *

China – Bad bank clean-up crew FT / FT * * * *


REAL ESTATE

China – January to August Home Sales Decline WSJ / WSJ / b *

China – Property developers borrow at record pace FT / WSJ

China – Property Slump Spurs Record Loans to Builders B

China – Property Developers’ New Financing Tool Raises Red Flags WSJ *

China – Developer Debt Risk Rises as Sales Miss B *


SERVICES



MANUFACTURING

Space – Boeing-SpaceX Team Split $6.8b Space Taxi Award WSJ / NYT / FT / B / R

Space – Airbus to streamline through disposals FT / WSJ

Space – Startup Disruption Reaches the Final Frontier wsj


TECH

Silicon Valley – ‘Europe strikes back’ FT / FT / nyt *

Silicon Valley – Internet Power Balance Tilts Toward Asia WSJ *

Silicon Valley – Asian tech groups fail to exploit early advantage against Apple FT *

Silicon Valley – Tying up the internet FT * * * *


TRADE & TRANSPORTATION



COMMODITIES



ENERGY & ENVIRONMENT

Coal – China limit on ash content set to hit global miners FT / WSJ / SMH / ABC / SMH / SMH / smh / r *

Coal – Dirtiest Becomes Most Popular on EPA Rules B


LABOR & EDUCATION



HEALTH

Demog – China: Stern Warnings About Falling Fertility Rate wsj *


ENDNOTE

The countries that have declared independence from the UK gp *


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