Archive for March, 2014

18 March 2014

Monday, March 17th, 2014



Today’s Issue Cluster: Oil

Ukraine – ‘Economic War with Russia: A High Price for German Business’
US – Retirees return to reverse mortgages, big banks stay away
Cigs – Experts urge ban on ads for tobacco in China


DATA POINTS

China – Feb: Housing Market Continues to Slow; +8.19% from +8.98% / WSJ / B / b *

China – Feb: FDI data indicates sharp slowdown on new year; +4.1% from +16.1% / R / WSJ / X *

EU – Feb: Car Sales Jump; +7.6% / B / WSJ / NYT / q * *

Germany – Mar: ZEW Investor Confidence Falls to Lowest Since August; 46.6 from 57.7 / B / AP / WSJ

Canada – Jan: Factory sales rise; +1.5% / G&M

US – Feb: Housing Starts Drop; -0.2% / R / AP / WSJ / B *

US – Jan: Both CPI and Core Inflation Little Changed; +0.1% / WSJ / AP / R / B * *


MARKETS

IPOs – Alibaba’s China e-commerce crown slips R *

IPOs – Weibo’s Worth Is Hard to Pin Down WSJ *

IPOs – Wall Street set for tech let-down FT *


ECONOMICS

EU – France and Germany squabble over who pays for banking union FT

EU – Renzi: A young man in a hurry FT / WSJ * * *

EU – Evolution of select eurozone 2014 GDP forecasts / b *


POLITICS & FISCAL POLICY

Ukraine – EU and US impose sanctions FT / WSJ / AP / B / B / NYT / R / reddit *

Ukraine – London Banks Could Feel Squeeze WSJ

Ukraine – Russian government admits economy in crisis R / B / B

Ukraine – Bargain hunters snap up Russian equities FT

Ukraine – Response to Crimea Vote Sets Western Companies on Edge WSJ *

Ukraine – ‘Economic War with Russia: A High Price for German Business’ S / WSJ * *


MONETARY POLICY

ECB – QE Not the Only Option on Inflation WSJ *


FINANCE

US – Wall Street Trains Fire on Idea of a Bank Tax WSJ *

US – Retirees return to reverse mortgages, big banks stay away R


REAL ESTATE

US – Crisis-hit US mortgage insurers return FT / WSJ


SERVICES

Cigs – States Urge Retail Giants With Pharmacies to Stop Selling Tobacco Products NYT / WSJ / FT *

Cigs – Experts urge ban on ads for tobacco in China CD

Pot – WA: Medical Marijuana Bill Dies NYT

Pot – CO: Denver job fair links industry, future workers AP / BW

Pot – UT: Lawmakers Approve Medical Use of Cannabis Oil WSJ

Pot – ‘The only thing green about that bud is its chlorophyll’ motherjones * * *


MANUFACTURING

Autos – GM Recalls 1.5m More Vehicles WSJ / R / FT / NYT / B / AP *


TECH

Software – End of Windows XP support puts ATMs at risk FT

Software – Microsoft soars on Office-for-iPad report R

Software – Microsoft Pursues New Tack on Piracy WSJ *


TRADE & TRANSPORTATION



COMMODITIES

Water – Food Prices Surge as Drought Exacts a High Toll WSJ / FT * *

Water – How El Nino affects weather r * *


ENERGY & ENVIRONMENT

Oil – Futures Decline as Sanctions Leave Energy Exports Alone WSJ

Oil – IEA says supply surge led by Iraq will ease tensions FT / WSJ / WSJ *

Oil – Iran’s Exports Peak After Interim Nuclear Deal WSJ

Oil – Libya output just 230,000 bpd as protests hit fields and ports r *

Oil – Canadian output hits record 4.3m bpd amid higher global demand FP

Oil – The progressively steeper summer drop in Alberta production G&M *

Oil – Surge in From US, Canada Helps Meet Demand WSJ

Oil – Big firms count the cost of tapping new discoveries FT / WSJ * *

Oil – Drillers Heading Into Deep Water WSJ *

Oil – Stays Thick in China Downturn WSJ *

Oil – East Coast crude import days are numbered as Bakken gets barged R *


LABOR & EDUCATION

South Africa – Losses mount in biggest post-apartheid mine strike R


HEALTH



ENDNOTES

Map of NCAAF I-A Team Fan Areas motw *


17 March 2014

Sunday, March 16th, 2014



Today’s Issue Cluster: Music Streaming

Internet – Internet Of Things To Unleash Massive Data Expansion
TPP – US: SK can’t join until KORUS issues fixed
Metals – Lithium: Producer Chases Tesla’s Bold Battery Plan


DATA POINTS

EZ – Feb: Inflation Rate Lower Than First Estimated; 0.7% was 0.8% / WSJ / AP / B / FT

Canada – Feb: CREA house prices jump; +10.1% / CBC

US – Feb: Manufacturing Rises by Most in Six Months; +0.8% from -0.9% / AP / R / WSJ / B *

US – Mar: Empire State Manufacturing Improved; 5.6 from 4.5 / cr *

US – Mar: NAHB home builder sentiment ticks up, still sour; 47 from 46 / R / B *


MARKETS

IPOs – Alibaba, Weibo Prep in US WSJ / FT / R / AP / R / WSJ *

IPOs – Stock listings hit pre-crisis peak FT *


ECONOMICS

China – Relaxes controls on exchange rate FT / WSJ / AP / R / NYT / B / FT / WSJ / R / NYT

China – Plans to Spend Over $163b Redeveloping Shantytowns B / WSJ / AP / FT

China – Ranking EM vulnerability ft * * * *

China – Cities seek hub status on Maritime Silk Road CD *


POLITICS & FISCAL POLICY

Ukraine – Crimea Vote Won’t End Reliance on Kiev for Power, Water WSJ *

Ukraine – Russian return evokes Soviet ghosts for Tatar minority R *

Ukraine – Central and Eastern Europe Face Economic Threat From Crisis WSJ *

Ukraine – Russian Richest Face Margin Calls With Billions at Stake B / AP / R

Ukraine – Russia Wields $160b Stick in Sanctions Standoff B

Ukraine – Russian companies withdraw billions from west, say Moscow bankers FT

Ukraine – Fed Custody Holdings Record Decline Fuels Russia Speculation B / q *

Ukraine – Russia vows to switch to other currencies over US sanctions threat VR

Ukraine – State TV says Russia could turn US to ‘radioactive ash’ AFP / ab *

Ukraine – Foes of America in Russia Crave Rupture in Ties NYT


MONETARY POLICY

Fed – Officials Weighing How to Retool Rate Guidance WSJ

Fed – “It’s (Still) the Inflation, Stupid.” cfr *

Fed – Inflation Goal Is Elusive as Rents Stabilize B * * * *


FINANCE

US – FDIC sues 16 banks for rigging key interest rate FT / R / WSJ / AP / B

US – Small proves beautiful at boutique banks FT *


REAL ESTATE

US – Senate Lawmakers Unveil Bill to Eliminate Fannie, Freddie WSJ / R

US – Adjustable-Rate Mortgages Make a Comeback WSJ *


SERVICES

Media – Amazon Working on Music-Streaming Service WSJ

Media – Pandora’s Stock Rally Isn’t Solving Its Problems BW *

Media – Digital radio the third destructive wave in the last decade and a half a * *

Media – Which Streaming Music Source Is Winning? wsj / NYT *


MANUFACTURING

Planes – Aircraft orders at ‘unprecedented levels’ FT

Planes – Geographical logistics sequence for building the A380 motw *

Planes – Gulfstream G650 Is General Dynamics’ Profit Engine BW * *


TECH

Internet – US Plans to Give Up Oversight of Web Domain Manager WSJ / FT / NYT / AP / R / B

Internet – Internet Of Things To Unleash Massive Data Expansion IBD


TRADE & TRANSPORTATION

TTIP – EU, US to commit to remove all duties on bilateral trade R / FT / NYT / FT

TPP – US: SK can’t join until KORUS issues fixed R / FT / wsj / WaPo

EU/China – Closing In on Landmark Trade Deal WSJ


COMMODITIES

Metals – Copper: Catches a dose of Chinese flu FT / FT / FT *

Metals – Lithium: Producer Chases Tesla’s Bold Battery Plan NYT

Metals – Investors Snap Up Shares in Big Miners WSJ *


ENERGY & ENVIRONMENT

Ethanol – Prices Surge as Rail Problems Cut Supply WSJ


LABOR & EDUCATION



HEALTH



ENDNOTES

London’s subterranean building boom FT *


14 March 2014

Friday, March 14th, 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 *


13 March 2014

Wednesday, March 12th, 2014



Today’s Issue Cluster: Latin America

Ukraine – Russia Said to Ready for Iran-Style Sanctions in Worst Case
Water – EPA Proposed Rules Worry Farmers
Insurance – No Plan to Extend Enrollment Deadline or Delay Mandate


DATA POINTS

China – Jan/Feb: Industrial output slows; +8.6% from +9.7% / WSJ / FT / R / B / b *

Retail sales growth weakest since early 2011; +11.8% / NYT

Japan – Jan: Core machinery orders up; +13.4% / K

India – Feb: The consumer-price index rose; 8.1% from 8.8% / B

Australia – Feb: Adds Most Full-Time Workers Since 1991; +80k / B / ABC / SMH / Aus

Greece – Q4: Unemployment rises to 27.5% from 27.0% / AP

Canada – Jan: Statscan new house prices post biggest rise in 20 months; +0.3% / R *

US – Feb: Retail Sales Rise; +0.3%, +1.5% yr / WSJ / R / AP / B *

US – Feb: Import prices post largest gain in a year; +0.9% from +0.4% (was +0.1%) / R *

US – Jan: Business inventories up; +0.4% from +0.5% / R

US – Jan: Sales post largest drop in 10 months; -0.9% from -0.1% / R *

US – Week: Jobless claims fall to new three-month low; -9k to 315k / R / AP / B *


MARKETS

World – Who holds and prints the $100t of global debt? ft * *


ECONOMICS

Venezuela – Fears Spread Of Approaching Bloody Face-Off NYT / R

Venezuela – Set to ease currency rules FT *

Venezuela – Key economic statistics over the last year / afp *

Brazil – Economy faces trouble after World Cup, election R / R

Argentina – To Halve Energy Subsidies as Imports Erode Reserves B / B

Chile – A South America Stalwart Tries New Revival Tactic WSJ / R

Mexico – Stalled Government Spending Chokes Growth WSJ / R *

Mexico – President takes on vested interests FT

Puerto Rico – Investors Flip for Debt Offering WSJ *

Colombia – Investors Can’t Get Enough wsj / NYT

Nicaragua – The Comandante’s Canal NYer / DT / wired * *

LatAm – One phone, many countries E * *


POLITICS & FISCAL POLICY

Ukraine – Merkel Changes Tack with Russia’s Putin WSJ / WSJ / FT / WSJ / AP / R / B *

Ukraine – Russia Said to Ready for Iran-Style Sanctions in Worst Case B / R / R

Ukraine – US energy exports would not scare Russia FT / AP / WSJ *


MONETARY POLICY

RBNZ – Raises Rate to Become First Developed Nation to Tighten B / FT / AP / b *

World – Central banks in forward guidance rethink FT / Rq *

World – OECD Sees Need for Cautious Fed Tapering WSJ


FINANCE

China – Copper hit as banks cut import financing FT / R / FT / r *


REAL ESTATE



SERVICES

Cigs – China Tobacco Ban Faces Hurdles to Beat Habit B

Cigs – The Average Number Smoked per Person Annually / im *

E-Cigs – Imperial fires up legal battle FT / AP

Pot – Boom prompts US marijuana industry to go on recruitment drive FT

Pot – Providers of Medical Marijuana Face New Fears NYT


MANUFACTURING

Ship – Iran Expands Tanker Fleet As Sanctions Ease WSJ

Ship – Oil tankers: hull yes FT *


TECH

Cyber Security – Investors flock to start-ups FT *


TRADE & TRANSPORTATION

TTIP – US claims EU abandoning tariff pledge FT / R


COMMODITIES

Water – EPA Proposed Rules Worry Farmers NYT


ENERGY & ENVIRONMENT

Power – Risks National Blackout From Small-Scale Attack WSJ / IBD / NYT * *

Power – Companies Cut Dividends as Energy Subsidies Hit Earnings WSJ

Power – Germany’s future without fossil fuels is leaving its largest producer behind q * *


LABOR & EDUCATION

US – Compensation Climbing Thanks to Surging Benefits Costs wsj *


HEALTH

Insurance – February Health Coverage Enrollments Well Behind Target NYT / WSJ / R / B / IBD / wapo * *

Insurance – No Plan to Extend Enrollment Deadline or Delay Mandate NYT

Insurance – Companies wary of Obamacare unknowns as they plan for 2015 R / WSJ


ENDNOTES

Areas Served by Major London Railway Stations im *

Areas Served by Major Paris Railway Stations im *


12 March 2014

Tuesday, March 11th, 2014



Today’s Issue Cluster: Crops

Japan – Q4 growth, external balance suffer blow in test for Abenomics
Ships – New orders threaten fragile sector recovery
China – Export Prowess Wanes in US, Europe


DATA POINTS

EZ – Dec: Factory Output Unexpectedly Falls, Led by Energy; -0.2%, +2.1% yr / B

Japan – Feb: Wholesale prices up; +1.8% / K

India – Feb: Exports Shrink; -3.67% / WSJ / ET

South Africa – Q4: Current account deficit narrows as imports drop; 5.1% GDP / R

US – Week: MBA: Mortgage Applications Decrease; -2% / cr *


MARKETS



ECONOMICS

Japan – Companies to Boost Wages WSJ / FT / NYT / FT *

Japan – Q4 growth, external balance suffer blow in test for Abenomics R * * *

Japan – Misery Index Rising to 33-Year High on Abenomics B

Japan – Waiting to Ride Export Curve WSJ

Japan – Yen-Pinching Undercuts Push Against Years of Deflation NYT

Japan – Weak Yen No Longer Enough to Lift Prices WSJ *


POLITICS & FISCAL POLICY

Ukraine – Kremlin Corp debt weighs in West’s standoff with Russia R / FT / WSJ *

Ukraine – German Firms Could Soon Provide Gas to Kiev S * *

Ukraine – Native languages From 2001 Census / am *


MONETARY POLICY

BOJ – Holds steady despite export worries FT / WSJ / R / B

BOT – Thailand Reduces Key Rate as Political Unrest Hurts Economy FT / WSJ / B *


FINANCE

EU – ECB to probe €3.7t of eurozone bank assets FT / WSJ / NYT / B / R

EU – Ministers Optimistic Over Deal on Bank-Rescue System WSJ / R / B


REAL ESTATE

US – Two Senators Draft Plan to Phase Out Freddie and Fannie NYT / FT / WSJ / AP / R / B * *


SERVICES

Media – Industry Worries About Comcast-TWC WSJ *

Media – Comcast and TWC unpopular / q * *

Media – Nearly one in three US households have no internet choice q * *


MANUFACTURING

Ships – New orders threaten fragile sector recovery R


TECH

Mobiles – Son promises Sprint/T-Mobile price war FT / WSJ / WSJ / R *

Mobiles – Europe’s Telecom Companies Push to Consolidate WSJ *


TRADE & TRANSPORTATION

China – Export Prowess Wanes in US, Europe B


COMMODITIES

Crops – China Slowdown Is Rocking Raw Materials WSJ *

Crops – Trade fears sprout in the GMO divide FT

Crops – Ottawa gives railways grain quota FT / WSJ / R / G&M

Crops – Excess China grain sows seeds of unrest CD *

Crops – China’s Cofco takes on global trading houses FT *

Crops – Philippines under pressure over high rice prices R / WSJ *

Crops – New threat to Brazil’s breadbasket: a pesky caterpillar R

Crops – Farm sector keeps getting more and more productive cd *

Water – El Niño warning puts farmers and commodities investors on alert FT

Water – Drought in Vietnam Causes Coffee Headache WSJ

Water – In Australia, a Battle Over Cattle as Firefighters WSJ

Water – China launches water-pipeline project q * * * *


ENERGY & ENVIRONMENT

Nuclear – Japan opening the way to restart power plants E / e *

Nuclear – Solving Fukushima water problem a long, hard slog WSJ / JT *


LABOR & EDUCATION

US – Obama Will Seek Broad Expansion of Overtime Pay NYT / WSJ / AP / B


HEALTH

Pharma – Generic-Drug Failures Spur Concern as FDA Steps Up Action B

Pharma – Warning on Australia poppy shortage FT / q * * * **


ENDNOTES

European Citizens Favourite European Country Other Than Their Own im *


11 March 2014

Monday, March 10th, 2014



Today’s Issue Cluster: Shale

China – Opens door to private banks
US – Public pensions need more than investment windfall
Pharma – White House Withdraws Plan Allowing Limits to Medicare Coverage for Some Drugs


DATA POINTS

Germany – Jan: Trade surplus narrows; +€17.2b from +€18.3b / AP *

UK – Jan: Manufacturing Output Grows More Than Forecast; +0.4% / B *

UK – Feb: Retail Sales Growth Slows; +0.7% from +5.4% / WSJ

Australia – Mar: NAB Business Sentiment Sours; 0 from +7 / WSJ

US – Jan: Wholesale inventories rise; +0.6% from +0.4% / R

US – Jan: Wholesaler sales fall; -1.9%, +3.9% yr / AP *

US – Jan: JOLTS Job Openings Increased as Hiring Fell; 3.97m from 3.91m / B *

US – Feb: NFIB Small Business Index Declines; 92.7 from 94.1 / cr *


MARKETS

Bonds – China Firm’s Default May Not Be the Last WSJ / FT / WSJ / NYT * *

Bonds – Muni Costs Hit Investors in Wallet WSJ *


ECONOMICS

EMs – Consumer stocks hit as retail dream fades FT *

DMs – The 2007-08 crisis was the beginning of the end for developed markets, right? / r *


POLITICS & FISCAL POLICY

Ukraine – Russia warns over ‘lawlessness’ in east AP / WSJ

Ukraine – Europe prepares sanctions against Russia FT / WSJ / S

Ukraine – Russian Oligarchs Fear Economic Casualties if Crisis Escalates NYT


MONETARY POLICY

BOE – Carney Pushes Low-Rate Message as Weale Dissents on Slack B / R / WSJ / FT


FINANCE

China – Opens door to private banks FT / WSJ / AP / NYT / B / R / WSJ

China – Shadow lending slows sharply FT

China – Online Funds Hit Bank Profits WSJ

China – For Online Money Funds, the Game Changes WSJ *

China – Taiwanese Banks Feel Squeeze WSJ *


REAL ESTATE



SERVICES

Gaming – International groups dealt weak hand in Japan’s casino gamble FT

Gaming – China’s gambling capital battles to shed bad boy image DT

Gaming – Qihoo, Baidu Bets On Mobile Apps Paying Off IBD *


MANUFACTURING

Drones – Find Fans Among Farmers, Filmmakers WSJ *


TECH

Mobiles – SoftBank’s Son Vows ‘Massive Price War’ If T-Mobile Deal Allowed B / WSJ

Mobiles – Wireless Bills Go Up, and Stay Up WSJ *


TRADE & TRANSPORTATION

TTIP – EU & US pressed to drop dispute-settlement rule FT / WSJ


COMMODITIES

Metals – Iron: Slumps on Chinese demand fears FT / B / FT / FT * *

Metals – Copper: Drops Sharply on China Worries WSJ / FT / b * * * *


ENERGY & ENVIRONMENT

Shale – US: In Fracking, the Energy Business Gets Neighborly WSJ

Shale – US: ‘Saudi America’ E / cd / cd * * * * *

Shale – US: Boom Spurs Refining Binge WSJ

Shale – US: New fracturing technology increases shale output by 20% cd *

Shale – US: Under fire over thirst for water FT *

Shale – US: ‘Dream of Oil Independence Slams Against Costs’ B

Shale – US: ‘Fracking Boom Leaves Texans Under a Toxic Cloud’ B * * * * *

Shale – US: CA fracking opponents introduce new moratorium bill R

Shale – US: In CO referendum, fracking faces ‘catastrophe’ G&M

Shale – US: Drilling could jump in 2014 in MS, LA AP

Shale – UK: Brakes put on revolution FT

Shale – Poland: Proposes Tax Breaks for Industry WSJ

Shale – World: BHP chief warns of reliance FT

Shale – China: Faces a bumpy road en route to boom CD *


LABOR & EDUCATION

US – Public pensions need more than investment windfall R *


HEALTH

Pharma – White House Withdraws Plan Allowing Limits to Medicare Coverage for Some Drugs NYT


ENDNOTES

Most desirable living environment by US county ispol *


10 March 2014

Sunday, March 9th, 2014



Today’s Issue Cluster: US Labor



DATA POINTS

China – Feb: Exports Unexpectedly Fell; -18.1% from +10.6% / WSJ / R / FT / AP / B *

China – Feb: Inflation Slows to 13-Month Low; +2.0% / B / R / WSJ / AP *

China – Feb: Total Credit Growth Slows; +Y0.9t from +Y2.6t / WSJ *

China – Jan/Feb: Auto Sales Gain in Start of Year; +10.7% / WSJ

India – Feb: Car Sales Rise; +1.4% / WSJ

Japan – Q4: Economy Expands Less Than Initially Estimated; +0.7% was +1.0% / B / WSJ / K

Japan – Jan: Current account deficit rises; -Y1.5t (-$15b) / K / AP

France – Jan: Industrial Output Drops; -0.2% / B / WSJ / q * *

Canada – Feb: Housing starts inch higher to 192,236 from 191,513 / CBC / G&M / R *


MARKETS

Currencies – China Weakens Yuan by Largest Degree Since 2012 WSJ / FT / WSJ

Currencies – Asia’s rollercoaster creates winners and losers FT *

Currencies – Australian Exporters Reap Boon WSJ


ECONOMICS

EU – Why Euro-Zone Chiefs Buck the Trend WSJ *


POLITICS & FISCAL POLICY

Ukraine – Moscow Tightens Squeeze Over Energy WSJ / npr * *

Ukraine – Bargain hunters move into Russia FT *

Ukraine – Russia Can’t Afford Another Cold War NYT / FT / WSJ / B / NYT / NYT * *


MONETARY POLICY

World – Forward guidance threatens to ‘encourage excessive risk’ FT / B / ft * * *


FINANCE

EU – Forex probes set to dwarf Libor cases FT *


REAL ESTATE

US – Surging Home Prices Are a Double-Edged Sword WSJ *

US – New-Home Building Is Shifting to Apartments WSJ *

US – Mess in the West: Home Sales Index Hits 7-Year Low wsj *

US – Zillow: Negative Equity declines further in Q4 2013 cr *

US – CoreLogic: 4m Residential Properties Returned to Positive Equity in 2013 cr *

US – New homes are 1,000 square feet larger than in 1973 cd * *


SERVICES

F&B – Fyffes and Chiquita merge to create top banana company FT / WSJ / AP / B / NYT / q * *

F&B – Banana fungus getting closer to Latin America q * * *


MANUFACTURING

Planes – Boeing to Inspect Wings of Undelivered Dreamliners for Cracks WSJ / R / NYT / AP / B

Paper – Industry Finds New Life WSJ / IBD


TECH

3-D Printing – Beware! Bn * *


TRADE & TRANSPORTATION

Pipeline – Canadian Regulators Approve Enbridge Reversal WSJ / NYT / FP *


COMMODITIES

Dairy – Asian Demand for Milk Shakes Up Market WSJ *


ENERGY & ENVIRONMENT

NatGas – Obama urged to ‘send a message’ to Putin with US energy exports FT / WSJ

NatGas – To Beat Coal as Australia Export B *


LABOR & EDUCATION

US – Jobs Rebound Eases Fears of Spring Stall WSJ / NYT / WSJ * * * *

US – Job growth eases pressure on Fed FT / WSJ / wsj / R / nyt

US – February Employment Report / cr / cr * *

US – Two Charts / q * *

US – Job Loss Numbers Are Heartening, but Hiring Remains Slow NYT * *

US – All New Low-Wage Jobs In 2013 Had Sub-30-Hour Weeks IBD *

US – Incomplete Recovery for Working-Age Men nyt *

US – Labor Force Participation for 55+ Back to 1960s / b *

US – ‘Boomer bulge’ hits employment data FT

US – College Grads Taking Low-Wage Jobs Displace Less Educated B

US – The union movement misses a big opportunity to halt its decline E / B * *


HEALTH

Pharma – Scouts Seek New Star Drugs for Cancer, Diabetes WSJ * *


ENDNOTES

Fed Laughter and Housing Prices elliott *


7 March 2014

Thursday, March 6th, 2014



Today’s Issue Cluster: Autonomous Vehicles

Pot – As US states allow marijuana sales, Dutch reverse course
Weather – Here comes El Nino; good news for US woes
Insurance – US Companies Test Plans To Cut Their Health Costs


DATA POINTS

Germany – Jan: Industrial Output Higher Than Expected; +0.8% from +0.1% / WSJ / AP / B *

France – Q4: Revises down jobless rate as Hollande battles slow growth; 10.2% was 10.9% / FT / WSJ

Canada – Feb: Surprise Job Loss; -7k / R / B / G&M / CBC *

Canada – Jan: Trade gap narrows as imports fall; -C$177m from -C$922m / CP *

US – Feb: Adds jobs; +175k from +129k / FT / AP / R / WSJ / B *

US – Feb: Unemployment Rate Rises; 6.7% from 6.6% / NYT *

US – Jan: Trade deficit steady as exports bounce back; -$39.0b from -$39.1b / R / B / WSJ / AP *

US – Q4: Household Worth Climbs; +3.8% / B / WSJ * *


MARKETS

EMs – Value is eroding fast FT / E / B * *

IPOs – Companies rush to sell debt amid blockbuster week FT / WSJ * *


ECONOMICS

Turkey – Banks Face Uncertain Future WSJ *

Turkey – Leader’s Woes Hurt Presidential Run WSJ / FT


POLITICS & FISCAL POLICY

Ukraine – EU leaders slap initial sanctions on Russia AP / FT

Ukraine – Oligarch tries to stamp Kiev authority on restive east FT

Ukraine – Crimea accelerates vote on joining Russia FT / WSJ *

Ukraine – Crimea: A region divided FT * * * *


MONETARY POLICY

ECB – Holds rates, hints at all-or-nothing policy stance R * * * *


FINANCE

US – New Lenders Spring Up to Cater to Subprime Sector WSJ / FT / B *


REAL ESTATE

China – Major Builders See Leisure as the Next Big Thing WSJ / R *


SERVICES

Cigs – Makers surge on deal talks FT

E-Cigs – Teenage Use Likely Gateway to Smoking: Study B / NYT

Pot – As US states allow marijuana sales, Dutch reverse course AP


MANUFACTURING



TECH



TRADE & TRANSPORTATION

AVs – Auto industry ponders robot-car liability FT

AVs – Regulators Back Efforts to Develop Cars That Drive Themselves WSJ / AP / Pol

AVs – Progress Faster Than Rules of Road B / FT / R / 0AP

AVs – US to Propose Vehicle-to-Vehicle, Crash-Avoidance Systems WSJ / AP / R / AP

AVs – The High-Tech Car Of The Future Is Around The Corner IBD

AVs – Are Further Away Than You Think TechReview *

AVs – Costs remain high wapo *

AVs – Auto Makers More Cautious Than Tech Firms NYer *

AVs – Protesters show up at the doorstep of Google self-driving car engineer ars *

AVs – Google: ‘Robot Cars Are Smoother, Safer’ TechRev

AVs – The world wants its self-driving cars made by a tech company q * * *

AVs – Electronics component suppliers bank on making cars smarter N *

AVs – Bosch wants piece of self-drive car market FT *

AVs – Benz brings ‘intelligent innovations’ to Guangzhou CD *

AVs – Self-driving cars to be 9% of global auto sales in 2035 R

AVs – Demand Seen Boosted by Japan’s Aging Population B

AVs – A big winner: Television q

AVs – What Will Happen to Public Transit in a World Full of Autonomous Cars? A


COMMODITIES

Metals – Palladium jumps on South Africa strikes FT / WSJ * *


ENERGY & ENVIRONMENT

Weather – Here comes El Nino; good news for US woes AP / R / B / H *


LABOR & EDUCATION



HEALTH

Insurance – US Companies Test Plans To Cut Their Health Costs NYT *

Insurance – New US health marketplaces signing up few uninsured WaPo / WSJ *


ENDNOTES

This is what a new UK flag might look like Atlantic:
Present Flag = St. George + St. Andrew + St. Patrick *
Wales = St. David *
Present UK + St. David *
Present UK – St. Andrew + St. David *


6 March 2014

Wednesday, March 5th, 2014



Today’s Issue Cluster: Japan

India – From northern backwaters, a new business elite rises
Autos – Carmakers fear EM gloom could overshadow EU rebound
Obamacare – Insurers’ Losses May Reach $5.5b in 2015


DATA POINTS

Germany – Jan: Manufacturing Orders Jump; +1.2% from -0.2% / WSJ / B

UK – Feb: Halifax house prices see fastest growth in five years; +2.4% from +1.1% / R / r *

Greece – Dec: Jobless Rate Remains High; 27.5% from 27.6% / WSJ

India – Q4: Current-Account Gap Narrows to Four-Year Low on Gold; -$4.2b from -$5.2b / B

South Africa – Feb: SACCI business confidence rises; 91.9 from 90.5 / R

US – Jan: Factory orders fall; -0.7% from -2.0% / R / AP *

US = Q4: Productivity slows; +1.8% was +3.2% / AP / R *

US – Week: Jobless claims tumble to three-month low; -26k to 323k / R / AP / WSJ / B *

US – Feb: Challenger planned layoffs fell; -7.3% / R *


MARKETS

Bonds – Junk rally approaches end of line FT *

Bonds – Deflation fears drive down eurozone borrowing costs FT / FT *

Bonds – Fed Was Biggest Buyer of Treasuries in 2013 NYT *

Bonds – Sales of US munis plunge in February R *

Bonds – Munis Regain Popularity WSJ *


ECONOMICS

India – Official GDP Figures Keep Shifting wsj *

India – From northern backwaters, a new business elite rises R *

India – India sets Modi-Gandhi poll battle date FT / WSJ / r / rte * * *

India – Traders brace for stock rally R *


POLITICS & FISCAL POLICY

Ukraine – EU divided on response to Russian invasion FT / WSJ / FT / AP

Ukraine – Exxon Says Russian Projects Remain on Track WSJ *


MONETARY POLICY

ECB – Keeps main rate at record low of 0.25% FT / WSJ / NYT / AP / R / B / WSJ *

BOE – Keeps Benchmark Rate at Record Low FT / WSJ / R / NYT / AP / B


FINANCE

China – Bear Stearns Moment Seen by BofA in Solar Default FT / WSJ / B / WSJ * *

China – At NPC, Proposed Changes Include Bank Deposit Insurance WSJ / B *

China – Shadow Banks Raise Credit Crisis Risks IBD *


REAL ESTATE

Australia – Builds on China demand for property FT / SMH / ABC / Aus * *


SERVICES

Media – Chinese Firm Considers Investing in New Hollywood Production Company WSJ *

Media – Why the music industry’s “fat head” is eating its “long tail” ft * *


MANUFACTURING

Autos – Carmakers fear EM gloom could overshadow EU rebound R *


TECH

Stocks – The current froth is driven by revenue FT * * * *


TRADE & TRANSPORTATION

TPP – US staring contest with Japan stretches out pact R / wsj

EU/US – Trade talks face growing hostility, ministers warn R

US/India – New Delhi hardens stance against protectionism ahead of visits R


COMMODITIES

Metals – EU plans voluntary rules on conflict mineral imports FT

Metals – Nickel benefits from Indonesia export ban FT

Metals – Indonesia May Cut Mineral-Concentrate Export Duty as Standoff With Miners Persists WSJ

Metals – Weaker Yuan Hurts Copper WSJ *

Metals – ‘Stabilizing forces set to prop up the steel sector’ CD *


ENERGY & ENVIRONMENT

NatGas – Crisis Pressures US on Exports WSJ / FT / NYT

NatGas – US price at odds with low stocks FT / WSJ * * *


LABOR & EDUCATION

Japan – Wages rise for first time in nearly two years FT / B / wsj / WSJ / WSJ *

Japan – Labor shortage has Tokyo mulling more foreign workers N *

Japan – Abenomics struggles to deliver public works boom R * *

Japan – BOJ Questions Whether Exports Will Recover WSJ

Japan – ‘Financial tourists’ check in and out of stock market FT *

Japan – Bank Taps Appetite for Tokyo Real Estate WSJ *


HEALTH

Obamacare – Health Plans Given Added Two-Year Reprieve WSJ / NYT

Obamacare – Insurers’ Losses May Reach $5.5b in 2015 B

Obamacare – ‘Not-So-Secret War On Private Medicare Plans’ IBD *


ENDNOTES

The cost of living around the world; Singapore #1 e *


5 March 2014

Tuesday, March 4th, 2014



Today’s Issue Cluster: China

ECB – Readies back door step to loosen policy
E-Cigs – Elude the Authorities Under Aliases
Planes – As Boeing, Airbus factories hum, suppliers get rattled


DATA POINTS

China – Jan: HSBC services PMI ticks up; 51.0 from 50.7 / R *

Australia – Q4: Economy Expanded Faster Than Forecast; +0.8% from 0.6% / B / SMH / Aus / ABC

South Africa – Feb: HSBC PMI rises; 51.5 from 50.3 / m *

EZ – Feb: Markit PMI shows business activity picking up speed; 53.3 from 52.9 / FT / AP / m * *

EZ – Jan: Economic Expansion Accelerates as Retails Sales Rise; +1.6% / WSJ *

Brazil – Feb: HSBC business activity expands; 50.8 from 49.9 / m *

UK – Feb: Markit Services PMI Expands for 14th Month as Confidence Increases; 58.2 from 58.3 / B / WSJ / m *

US – Feb: ADP private sector adds jobs; +139k from +127k / R / WSJ / AP / B *

US – Feb: ISM Service Industries Expand at Slowest Pace in Four Years; 51.6 from 54.0 / R / WSJ / B / r * *

US – Jan: CoreLogic House Prices up; +12% / cr *

US – Week: MBA Mortgage Applications Increase; +9% / cr / r *


MARKETS



ECONOMICS

China – Sets 7.5% Growth Target WSJ / FT / R / B / AP / q * *

China – Sinopec sale points to next round of state privatization R *

China – Property promotions add to price correction concerns R

China – Property Trust Defaults Forecast as Risks Flagged B

China – Unlikely to see a sharp correction in property market R

China – Population Weighted YoY Home Price Index May Be at a Turning Point / b *

China – Banks Show Too-Connected-to-Fail Link to Loans B

China – High-Interest Web Banks on the Rise NYT

China – Yuan must trade lower if Beijing is to rein in lending FT


POLITICS & FISCAL POLICY

Ukraine – US considers sanctions on Russian banks FT / AP / WSJ / FT *

Ukraine – Putin’s Gambit Stings Economy as Allies Lose Billions B

Ukraine – Rouble rebounds as tension fades FT

Ukraine – Russia spends $11b supporting rouble FT / r *

Ukraine – EU unveils €11bn aid package to shore up Kiev FT / AP / WSJ

Ukraine – USDA Official: Grain Markets May Have Reacted Prematurely WSJ

Ukraine – Gazprom to raise gas prices for Kiev FT / WSJ / AP / RIAN * *

Ukraine – World’s 6th largest wheat exporter / b *

Ukraine – How forces stack up / R / bi * *

Ukraine – Russian speakers: Smaller subdivisions / motw *

Ukraine – Germany Appears Crucial to Ending Crisis NYT / WSJ / B / tnr * * *

Ukraine – EU Dependency On Gazprom / bi / r * *

Ukraine – Russia warns could ‘reduce to zero’ economic dependency on US AFP

Ukraine – Russian reserves on a downward path, -$17b so far this year / r *

Ukraine – Russia Tries to Woo Back Moldova S *


MONETARY POLICY

ECB – Readies back door step to loosen policy R / B / r * *

ECB – Draghi seeks to revive reviled loan bundles to boost credit FT *

ECB – Slower pace of lending declines / b *


FINANCE

Italy – Time to modernise FT * *


REAL ESTATE

Turkey – Turmoil Puts Property Market at Risk WSJ / WSJ / WSJ *


SERVICES

E-Cigs – Elude the Authorities Under Aliases NYT *

Tobacco – China: Government coughers E *


MANUFACTURING

Planes – Air Lease Warns on Asian Jet Boom WSJ

Planes – As Boeing, Airbus factories hum, suppliers get rattled R


TECH

Cloud – New Software Firms Take Off WSJ *


TRADE & TRANSPORTATION



COMMODITIES

Water – In California, Drought Plays Out Unexpectedly WSJ

Water – Brazil Drought Jolts Commodities’ Prices WSJ * *


ENERGY & ENVIRONMENT

NatGas – Surge in US Prices Deflates Hopes in Asia WSJ *

NatGas – Cold winter brings relief to Canada producers G&M *

NatGas – Japan’s nuclear power plan changes the price equation for BC LNG G&M * *


LABOR & EDUCATION



HEALTH



ENDNOTES

What your candy says about your politics wapo *