Bz Nwz




---

Today’s Issue Cluster: Ukraine Crisis

Fed – ‘Falling Short By Its Own Yardstick’
Trucks – China’s 24m Car Market Spurs Investment
Cloud – Google, Amazon and Microsoft’s Costly Spending War



---

MAJOR DATA POINTS

China – Apr: Official Manufacturing PMI Inches Up; 50.4 from 50.3 / WSJ / R / AP / b / b * *

SK – Apr: Exports Grow Faster Than Expected; +9% yr / WSJ *

US – Mar: Consumer Spending Jumps by Most in Five Years; +0.9% from +0.5% / B / R / AP / WSJ / r *

US – Week: Jobless Claims Unexpectedly Climb to Nine-Week High; +14k TO 344k / B / AP / WSJ *

US – Apr: ISM manufacturing growth accelerates; 54.9 from 53.7 / R / WSJ / r *

US – Apr: Markit factory activity growth slows slightly; 55.4 from 55.5 / R / m / r * *

US – Mar: Construction spending rises; +0.2% from -0.2% / AP / R / r *



---

MARKETS

Stocks – Dow Closes at a Record WSJ *

Stocks – Wall St weighs ‘sell in May and go away’ FT *



---

ECONOMICS

China – Rejects sign it may soon be #1 economy AP / B / e wsj / wapo * * *

China – EU: Actually, We’re #1 / eu *

China – Bloated Local GDP Numbers Go on a Diet wsj *

China – Plans Measures to Boost Trade After Unexpected Drop B

China – No kick-start coming for stalled growth engine FT *



---

POLITICS & FISCAL POLICY

Ukraine – East Unravels as Pro-Russia Militants Widen Fight B

Ukraine – Pro-Russian Separatists in East Seek Legitimacy Through Referendum WSJ

Ukraine – IMF says Russian economy already in recession AP / FT / WSJ

Ukraine – Russia’s Aerospace Industry Faces Squeeze Over Sanctions WSJ

Ukraine – Crisis could halt Europe’s defense downturn: Airbus CEO R

Ukraine – Some US companies starting to feel pain R

Ukraine – Norway oil fund loses on Russia government bond holdings FT

Ukraine – Crisis A Tightrope Walk for German Businesses S

Ukraine – French Banks Play Russian Roulette cfr *



---

MONETARY POLICY

Fed – To Keep Trimming Stimulus FT / WSJAP / R / NYT / B / WSJ *

Fed – ‘Falling Short By Its Own Yardstick’ nyt * *



---

FINANCE




---

REAL ESTATE

Canada – What Google searches reveal about housing market G&M *



---

SERVICES

Tourism – Chinese Boost Bets on Australian Tourism WSJ *

Tourism – Chinese Tourists are spending a lot / E *



---

MANUFACTURING

Trucks – China’s 24m Car Market Spurs Investment B

Machinery – China’s Construction Cracks Run Deeper for Zoomlion and Sany WSJ *



---

TECH

Cloud – Hewlett-Packard, Foxconn Launch Joint Server Venture WSJ

Cloud – Microsoft Targets Box, Dropbox wsj

Cloud – Google: Weapon of Choice WSJ *

Cloud – Google is waging a financial war of attrition q *

Cloud – Google, Amazon and Microsoft’s Costly Spending War wsj *



---

TRADE & TRANSPORTATION




---

COMMODITIES

Weeds – Dow Chemical Gets Preliminary US Nod for New Weedkiller WSJ

Weeds – Farmers Widen Their Arsenal of Herbicides WSJ *



---

ENERGY & ENVIRONMENT

Pollution – Plagues China’s coastal waters FT

Pollution – A shift in the wind in China FT * * *



---

LABOR & EDUCATION

PubEd – Congress Is Going Back to School WSJ *

PubEd – Charter-School Fight Flares Up in Illinois WSJ *



---

HEALTH




---

ENDNOTES

Political Preferences on Social Media Sites nyt *

Twitter politically polarized pew / q *



---




---

Today’s Issue Cluster:




---

MAJOR DATA POINTS




---

MARKETS

Bonds – Rush in Asia breaking records FT *

Bonds – Junk fever hits new high with jumbo Numericable deal FT *



---

ECONOMICS

China – Poised to pass US as world’s leading economic power FT

China – Li Keqiang-dicator shows growth slowing in March / b *



---

POLITICS & FISCAL POLICY

Ukraine – EU Escalates Response to Russia’s Actions WSJ / B / WSJ * *

Ukraine – Appetite for Russian Assets Returns WSJ *



---

MONETARY POLICY

Fed – Likely to reiterate flexible policy on rates AP / WSJ *



---

FINANCE

EU – Banking Authority Releases 2014 Bank Stress-Test Scenarios FT / WSJ *



---

REAL ESTATE




---

SERVICES




---

MANUFACTURING




---

TECH

Internet – Gogo Faces In-Flight Wireless Challenge From AT&T WSJ *



---

TRADE & TRANSPORTATION




---

COMMODITIES

Commodities – Favoured in rotation from stocks and bonds FT *



---

ENERGY & ENVIRONMENT

Coal – Obama Power-Plant Pollution Rule Upheld by Top US Court WSJ / B / NYT *

Coal – GE deal for power arm could fire up Alstom WSJ / FT / FT *

Coal – To Fill China’s Nuclear Gap WSJ *



---

LABOR & EDUCATION

China – World’s factory comes under wage and labour strain FT *

China – Record 1.11 vacancies per applicant in Q1 / b *



---

HEALTH

Pharma – In Drug Mergers, There’s One Sure Bet: The Layoffs WSJ / FT / FT * *



---

ENDNOTES

Most popular male, female names by country motw / motw * *



---




---

Today’s Issue Cluster:




---

MAJOR DATA POINTS




---

MARKETS

M&A – The Megadeal Makes a Comeback WSJ * *



---

ECONOMICS

Asia – Export Engine Sputters WSJ *



---

POLITICS & FISCAL POLICY

Ukraine – Moscow relief at level of US action FT

Ukraine – Sanctions Cause Headaches in the Energy Sector NYT

Ukraine – Russia puts stop to debt sales as crisis escalates FT *



---

MONETARY POLICY

ECB – Draghi Says Unlikely to Engage in Quantitative Easing WSJ / WSJ



---

FINANCE

China – ‘Lending bubble a global threat’ AP



---

REAL ESTATE




---

SERVICES




---

MANUFACTURING

Planes – Japan to keep its share of production of Boeing’s new 777X aircraft R

Planes – Airbus Orders Hurt by Cancellations WSJ / R



---

TECH

Internet – AT&T to Launch In-Flight Wi-Fi WSJ / nyt



---

TRADE & TRANSPORTATION




---

COMMODITIES

Crops – Markets Gird for Return of El Niño WSJ * *



---

ENERGY & ENVIRONMENT

NatGas – Prices Climb WSJ *



---

LABOR & EDUCATION




---

HEALTH

Pharma – Pfizer ignites pharma takeover battle FT / WSJ / NYT / FT / WSJ / FT / WSJ / FT / WSJ * * * *

Pharma – Meda falls after rejecting sweetened Mylan bid FT

Pharma – Drug innovation: In the recovery room FT

Pharma – Drugs Aim to Help Elderly Rebuild Muscle WSJ *



---

ENDNOTES

Tax Freedom Day By US State tf *



---




---

Today’s Issue Cluster: Livestock

Mobile – Few Consumers Are Buying the Technology
China – Land Sales: The Ever-More Lucrative Habit Officials Just Can’t Kick
MERS – Saudi Arabia Reports Eight More Deaths



---

MAJOR DATA POINTS

US – Apr: NAR pending home sales end losing streak; +3.4%, -7.9% yr / R / WSJ / B / r *



---

MARKETS

M&As – Encouraging signs that 2014 spree is the real deal FT *

M&As – $88b in healthcare deals pushes sector to all-time record r *



---

ECONOMICS

EU – Recovery fails to lift continent’s companies FT / FT * *

EU – Greece: Warned of €14.9b financing gap FT

EU – Portugal: Set for Clean Exit from Bailout Program WSJ / FT / FT * *

EU – Germany: Debates Tax Cuts Amid Rapid Rise in Revenue WSJ *

EU – UK: A fifth of big businesses pay no corporation tax FT *



---

POLITICS & FISCAL POLICY

Ukraine – US toughens sanctions on Russia FT / WSJ / B / NYT / R / AP / WSJ

Ukraine – Russian economy feels sanctions fallout FT / B / NYT

Ukraine – European Firms Seek to Minimize Russia Sanctions NYT / NYT

Ukraine – White House Split Over Russia / FT / WSJ / B / AP / AFP / WSJ *



---

MONETARY POLICY




---

FINANCE

Mobile – Few Consumers Are Buying Technology NYT



---

REAL ESTATE

China – Aims to build over 7m public homes this year R

China – Land Sales: The Ever-More Lucrative Habit Officials Just Can’t Kick wsj *

China – Wuxi City Eases Some Property Rules as Home Sales Slip WSJ / X

China – ‘Property bubble will not wreck economy’ X



---

SERVICES

Ads – Online originals face battle to win over advertisers’ hearts FT *

Ads – Newspaper revenue continued its precipitous free fall in 2013 cd *

Ads – Small Businesses Search in Vain for Web Help WSJ *



---

MANUFACTURING

World – New report calls US a ‘rising star’ of global manufacturing R / AP / FT

World – In new world order, Canadian factories to fall behind G&M *



---

TECH

Explorer – Microsoft rushes to fix browser after attacks; no fix for XP users R / WSJ / FT / wsj



---

TRADE & TRANSPORTATION




---

COMMODITIES

Livestock – Killer virus spreads unchecked through US hog belt, pushing pork to record R / WSJ / ft / WSJ *

Livestock – China Tightens Restrictions on Imports of US Hogs WSJ / WSJ

Livestock – Beef, pork reach record highs R / AP

Livestock – After Japan beef deal, Australia eyes cattle sales to China R *

Livestock – Fake Meats, Finally, Taste Like Chicken NYT *

Fish – Farming Explores Deeper, Cleaner Waters WSJ / NYT

Fish – Up to 27% of America’s imported tuna is caught illegally q * * * *



---

ENERGY & ENVIRONMENT

NatGas – US: Why Marcellus Shale Gas Doesn’t Get to New England WSJ *

NatGas – US: Storing up problems FT *

NatGas – Europe: Seeks alternative supplies FT / G&M *

NatGas – Brazil: The World Cup is causing a surge in LNG demand B



---

LABOR & EDUCATION




---

HEALTH

MERS – Saudi Arabia Reports Eight More Deaths B / R / WSJ / FT / R *



---

ENDNOTES

The Land-locked Countries of the World im *



---




---

Today’s Issue Cluster: US Real Estate

Ukraine – Soviet Yearnings: Hopes Rise in Transnistria of a Russian Annexation
US – ‘Housing Market Is Still Holding Back the Economy’
Defense – Strong US firm profits defy regular gloomy warnings



---

MAJOR DATA POINTS

Japan – Apr: Inflation Quickens to Fastest Since 1992; +2.7% / B / WSJ / K / b / * *

China’s First-Quarter Current-Account Surplus Narrowed; +$7b from +$44b / WSJ / b *

US – Apr: Consumer sentiment up more than expected; 84.1 from 80.0 / R / B / r *



---

MARKETS




---

ECONOMICS




---

POLITICS & FISCAL POLICY

Ukraine – S&P Downgrades Russia to BBB-Minus, One Notch Above Junk WSJ / AP / B

Ukraine – Russia raises interest rates FT / NYT / AP

Ukraine – Putin says sanctions hurt Russian economy, but not critically R

Ukraine – Obama: New sanctions against Russia are ‘teed up’ AP / FT / WSJ

Ukraine – Russian memo to WTO says sanctions are illegal R

Ukraine – Putin Drops Plan to Boost Economy Through Spending WSJ

Ukraine – Gulf states gain from Russia’s debt freeze FT *

Ukraine – US & EU trade dependency on Russia / b *

Ukraine – Divisions Extend to East Itself WSJ *

Ukraine – Soviet Yearnings: Hopes Rise in Transnistria of a Russian Annexation S / E *



---

MONETARY POLICY

ECB – Ready to Act if Inflation Misses Target WSJ / B / S *

ECB – QE: real prospect or fantasy game? FT / r *



---

FINANCE

China – Financial System to be Tested as Trust Products Mature WSJ *



---

REAL ESTATE

US – Demand for Home Loans Plunges WSJ *

US – ‘Housing Market Is Still Holding Back the Economy’ nyt * * *

US – A lack of supply means lofty house prices are unlikely to fall far E *

US – Jumbo Mortgage Rates Lower Than Expected WSJ / B *

US – Mortgage Lenders Ease Rules for Home Buyers in Hunt for Business WSJ * * *

US – Prices surging — in part because houses are getting bigger wapo * *

US – Chinese take Manhattan: replace Russians as top apartment buyers R

US – AIA Billings Index indicated contraction in March cr *



---

SERVICES

E-Cigs – Makers Breathe Easier After FDA Proposes Rules WSJ / NYT / AP / R / B / WSJ *

E-Cigs – Tobacco’s Vapor Labor Looks Good on Paper WSJ *

E-Cigs – US groups light up for extra marketing FT



---

MANUFACTURING

Defense – Ukraine Crisis Boosting Interest in Military Hardware, Says Saab Chief WSJ

Defense – Strong US firm profits defy regular gloomy warnings R *



---

TECH

Internet – FCC accused of violating net neutrality FT / WSJ / NYT / R



---

TRADE & TRANSPORTATION

Parcels – Amazon, in Threat to UPS, Tries Its Own Deliveries WSJ * *



---

COMMODITIES

Markets – Shift to Brighter View of China WSJ *

Markets – Bigger food price swings hit consumer goods groups FT *



---

ENERGY & ENVIRONMENT

Alt – Global investment in clean energy E *

Alt – Wind: China’s Turbine Makers Face Market Consolidation B

Alt – Solar: German Power Premium Shrinking on Surge B *

Alt – Biofuels: Fuels from corn waste not better than gas AP

Alt – Biofuels: Wasted energy FT *



---

LABOR & EDUCATION




---

HEALTH

Sugar – Drastic measures FT * * *



---

ENDNOTES

Baseball’s Borders Refined: Mets & A’s Don’t Have a Single Zip Code NYT * * *



---




---

Today’s Issue Cluster: Water

Fragile Five – Pariahs to investor darlings
China – To allow private investment in 80 projects
Coal – ‘Best Hope’ Rising With Costliest US Power Plant



---

MAJOR DATA POINTS

SK – Q1: Economy Grows More Than Forecast as Exports Climb; +0.9%, +3.9% yr / B / b *

Germany – Apr: Ifo Says Positive Mood Despite Ukraine Crisis; 111.2 from 110.5 / B / WSJ / r *

US – Mar: Orders for Durable Goods Poured In; +2.6% from +2.1% / B / R / r *

US – Week: Jobless Claims Rise More Than Forecast; +24k to 329k / B / WSJ / R / r *



---

MARKETS

Fragile Five – Pariahs to investor darlings: What’s next? ft *



---

ECONOMICS

China – To allow private investment in 80 projects R *

China – Firms Turn to Foreign Investors to Borrow WSJ *

China – PMI shows output and jobs link worsening / b *



---

POLITICS & FISCAL POLICY

France – Treads fine line on EU deficit-cutting targets FT / WSJ / R / E / AFP / FT / r * *



---

MONETARY POLICY

RBNZ – Raises Key Rate for Second Month as Recovery Gains Pace B / NZH / AFP / SMH

RBA – Australia’s Slowing Inflation Restrains Rate-Rise Bets B / wsj / WSJ *



---

FINANCE

EU – German banks next to join ‘coco’ party FT *

EU – Deutsche Bank rights issue back on table FT / FT / FT *



---

REAL ESTATE




---

SERVICES

Online – US regulators to propose new net neutrality rules WSJ / FT / R / NYT



---

MANUFACTURING




---

TECH

Mobiles – Apple shares jump on iPhone sales FT / WSJ / B * *

Mobiles – China becomes the iPhone growth story FT

Mobiles – As Phone Subsidies Fade, Apple Could Be Hurt WSJ *

Mobiles – ‘Why Apple has stopped growing’ q *



---

TRADE & TRANSPORTATION

Rail – Freight Train Blues Hit Car Supplies WSJ *

Rail – Canada Toughens Rules for Shipment of Dangerous Goods WSJ / AP / G&M *



---

COMMODITIES

Water – Desalination Plant Said to Be Planned for Thirsty Beijing NYT *

Water – Without action today, Asia’s future will be a dry one N * *

Water – Shortages pose growing risk for American companies FT / NPR

Water – Drought in SW Fuels Dispute Over Silvery Minnow WSJ *

Water – Brushing Teeth With Sewer Water Next Step as Texas Faces Drought B *

Water – California’s big dry shows little let-up FT / AP / NYT *

Water – El Niño Probably Won’t Quench California’s Thirst 538 *



---

ENERGY & ENVIRONMENT

Coal – Black Lung Disease Spurs New Rules WSJ *

Coal – Light Goes Out on UK Industry WSJ *

Coal – The fuel of the future, unfortunately E *

Coal – ‘Best Hope’ Rising With Costliest US Power Plant B * * *



---

LABOR & EDUCATION




---

HEALTH

Costs – Price of Treatment May Influence Doctors NYT * *

Costs – Health Care Spending’s Recent Surge Stirs Unease NYT

Costs – Come Off the Boil wsj *



---

ENDNOTES

Which Team Every State/Province is Rooting For In The NHL Playoffs im *



---




---

Today’s Issue Cluster: Gaming

Crops – Corn: Grain Belt Shifts North
Oil – ‘Saudi America’: Mirage?
G7 – Most Still Trying to Recoup Lost Jobs



---

MAJOR DATA POINTS

China – Apr: HSBC PMI Signals Weakness Persists in Economy; 48.3 from 48.0 / WSJ / R / B / AP *

EZ – Apr: Markit PMI Shows Economic Growth Accelerates; 54.0 from 53.1 / WSJ / B / NYT / R / AP *

US – Apr: Markit PMI shows factory activity expands, pace stalls; 55.4 from 55.5 / R / m *

US – Mar: New home sales dive to eight-month low; -14.5%, -13.3% yr / R / WSJ / AP / B * * *



---

MARKETS




---

ECONOMICS

US – The Great Moderation Is Back nyt *

US – Big Manufacturers Are Upbeat, but More Worried about the World wsj *

US – Sluggish Economic Recovery Proves Resilient WSJ *

US – Towns Taxed by Shift to More Homes, Fewer Stores WSJ *



---

POLITICS & FISCAL POLICY

Ukraine – Russia looks for economic self-reliance FT * * *

Ukraine – How Much Russia Controls Of The World’s Commodities bi *



---

MONETARY POLICY

Fed – Looks Likely to Stick to Policy Path WSJ



---

FINANCE




---

REAL ESTATE

China – Smart Players Are Selling WSJ *

China – Gives Timetable for National Property Registry WSJ



---

SERVICES

Gaming – Russia Said to Weigh Plan to Introduce Gambling in Crimea B / RT / MT

Gaming – Consortium Led by Macau Mogul to Raise Stake in Russian Casino WSJ

Gaming – SK gives Caesars Entertainment go-ahead to open casino FT / FT *

Gaming – Macau Rides High on New Round of Casino Construction NYT

Gaming – Australian casinos bet on the Chinese FT * * * *

Gaming – US casinos gain from Chinese gambling appetite FT

Gaming – Adelson Tests His Influence in Push to Ban Online Gambling NYT

Gaming – Caesars Making Bid for Casino in Upstate New York NYT / WSJ *



---

MANUFACTURING




---

TECH

Cloud – Court Conflicted on Aereo Online Video Service WSJ / AP / NYT / R / B / BW / WSJ *

Cloud – A Price War Erupts WSJ *

Cloud – Amazon has big lead q *

Cloud – Beyond Amazon, Google and Microsoft WSJ *



---

TRADE & TRANSPORTATION




---

COMMODITIES

Crops – Coffee: Prices Hit 26-Month High WSJ / B *

Crops – Corn: China to become top importer in 2020 FT

Crops – Corn: Grain Belt Shifts North B *

Crops – Sugar: Mexican producers deny imports threaten US industry R *

Crops – Soybeans: Jump on inventory fears FT *

Crops – Wheat: Trends in the World’s Top Exporters b *

Crops – GMO: China rejections of US corn cost up to $2.9b R / WSJ / AP *

Crops – Bees: Dying faster in northern Europe q * *



---

ENERGY & ENVIRONMENT

Oil – ‘Saudi America’: Mirage? NYT

Oil – Iraq Output Exceeds Hussein Era WSJ * *

Oil – OPEC output / r *

Oil – China Inc joins the big league in services R *



---

LABOR & EDUCATION

G7 – Most Still Trying to Recoup Lost Jobs NYT *



---

HEALTH

Pharma – GSK chief quick to distance Novartis deal from megamerger mania FT / WSJ / WSJ / WSJ * * *

Pharma – Deals fever grips industry FT / WSJ / WSJ / WSJ * * *



---

ENDNOTES

The warmest month of the year in each country motw *



---




---

Today’s Issue Cluster: Higher Education

E-Cigs – Industry awaits looming federal regulation
Autos – EU: Sales Are Still Low, But They Are Rising
NatGas – Oil reserves jump on shale but gas tumbles in 2012



---

MAJOR DATA POINTS

US – Mar: NAR existing home sales hit 1-1/2 year low; -0.2% / R / AP / WSJ / B *



---

MARKETS




---

ECONOMICS




---

POLITICS & FISCAL POLICY

Ukraine – Under Russia, Life in Crimea Grows Chaotic NYT

Ukraine – Russia Could See Second-Quarter Recession, Says Finance Ministry WSJ



---

MONETARY POLICY

Fed – Wage inflation threatens Fed interest rate plans, say economists FT / R



---

FINANCE

Mobile – Baidu joins China payments race FT

Mobile – Facebook targets financial services FT

Mobile – Walmart pushes into money transfer market FT / NYT / WSJ *



---

REAL ESTATE




---

SERVICES

Pot – Finding a Bank for Shops Is Still a Pipe Dream WSJ

Pot – Marijuana Debate Scrambles Political Spectrum as 2016 Looms WSJ *

E-Cigs – Industry awaits looming federal regulation AP

E-Cigs – Reports of injuries jump amid rising popularity R

E-Cigs – No smoke without fear FT *



---

MANUFACTURING

Autos – EU: Carmakers clash with Brussels over tougher fuel efficiency test FT *

Autos – EU: Sales Are Still Low, But They Are Rising nyt * * *



---

TECH

Telecoms – Comcast Profit Rises 30% on Video Subscriber Additions WSJ / FT / NYT / q *

Telecoms – Netflix trades barbs over Comcast’s TWC deal FT / WSJ / FT / WSJ * *



---

TRADE & TRANSPORTATION

AVs – Rio Tinto sending more self-driving trucks to mines Down Under N

AVs – The robot is ready – so when will deep sea mining start? R *

AVs – Autonomous cargo vessels could set sail without a crew E *



---

COMMODITIES

Metals – Platinum, Palladium Drop on Signs of Progress in South Africa WSJ

Metals – Nickel Prices Hit 14-Month High WSJ *

Metals – Chinese rare earth miner’s profits nosedive X / WSJ / X

Metals – India Hasn’t Ironed Out Mining Problems WSJ / WSJ *



---

ENERGY & ENVIRONMENT

NatGas – Qatar’s LNG dominance challenged WaPo

NatGas – Price in US Rises as Refiners Export More to Other Countries WSJ *

NatGas – Oil reserves jump on shale but gas tumbles in 2012 R * *



---

LABOR & EDUCATION

HigherEd – Federal Plans That Forgive Student Debt Skyrocket WSJ *

HigherEd – Banks Take Interest in College Lending WSJ *

HigherEd – Grad Students Driving the Growing Debt Burden WSJ *

HigherEd – Pace of US Student Lending Shows Signs of Easing wsj *

HigherEd – Private Schools Push Back at TN Plan for No-Cost Community College WSJ *

HigherEd – Rule targets US for-profit colleges over student debt AP / WSJ

HigherEd – ‘Too many degrees are a waste of money’ E *

HigherEd – Most lucrative degrees in computer science A *

HigherEd – Small US Colleges Battle Death Spiral as Enrollment Drops B *

HigherEd – Asian countries hoist the ‘Students Wanted’ sign N * *

HigherEd – Cost of University in the EU am *

HigherEd – Nations Chasing Harvard Merge Colleges to Ascend Rankings B *

HigherEd – US share of the world’s foreign students dropped from 23% to 18% BW *

HigherEd – Universities Try a Cultural Bridge to Lure Foreign Students NYT

HigherEd – US Colleges Straining to Restore Diversity WSJ *



---

HEALTH

Pharma – Novartis buys GSK business for up to $16b in restructuring FT / NYT

Pharma – Ackman drives bid for Botox maker Allergan FT / WSJ *

Pharma – Pfizer / AstraZeneca: combination therapy FT / FT

Pharma – Big deals are back in the mix FT / r * *



---

ENDNOTES

Mapped: Which US taxpayers loaned $192b to the government last year wapo *



---




---

Today’s Issue Cluster: China Economy & Environment




---

MAJOR DATA POINTS

Japan – Mar: Posts largest-ever trade deficit FT / WSJ / AP / B / R / * b *

US – Mar: Conf Bd leading indicators up for 3rd straight month; +0.8% from +0.5% / AP / R



---

MARKETS




---

ECONOMICS

China – Market reform is crucial to avoiding the middle-income trap WSJ

China – ‘Will not see hard landing’ CD / CD

China – Factories face new challenge as growth slows AP

China – Investors Rush Into Health Care WSJ *

China – Surging Loans Could Pose a Risk to HK’s Economy wsj / B * *

China – ‘Investment to shape Asean’s destiny’ ft *

China – Workforce smaller, more savvy, more restive R *

China – By 2030 cities will be home to about 1b people E *

China – A billion shoppers E *

China – The rural-urban divide: Ending apartheid E * *

China – ‘Seizing land no way to finance local government’ E *

China – New middle classes may soon become more demanding E *

China – Middle class is changing the global tourism industry E *



---

POLITICS & FISCAL POLICY

Ukraine – Russian debt and equity sales stall FT

Ukraine – Banks retreat from Moscow deals FT

Ukraine – Companies Map Contingency Plans as Crisis Escalates WSJ



---

MONETARY POLICY

World – ‘The Eroding Power of Central Banks’ S * *



---

FINANCE




---

REAL ESTATE

China – Home Prices Ease on Tighter Credit B / WSJ / CD / CD

China – Land sale revenue rise ‘unsustainable’ CD *

China – Seen Cracking on Property Controls B

China – Towers where no lights burn at heart of puzzle FT *



---

SERVICES

Toys – The growth of tablets and smartphones has hit toymakers FT



---

MANUFACTURING

Autos – China: Domestic Car Makers Struggle to Lure Buyers WSJ *

Autos – China: Global carmakers seek inroads FT / AP

Autos – China: Toyota Revs Up Ambitious Plans WSJ / WSJ

Autos – China: Nissan Says Political Tensions No Longer Hurting Sales WSJ

Autos – China: GM to battle VW with $12b investment R / AP / B / CD

Autos – China: Fiat, Chrysler to Build Jeeps WSJ

Autos – China: Set to replace US as Volvo’s biggest market this year R

Autos – China: Premium car brands eye China’s secondhand market R

Autos – China: Daimler/BYD Unveils Plans for All-Electric Car WSJ / R

Autos – China: Tesla to Start Model S Sales B / FT

Autos – China: Geely Shouldn’t Drive Solo WSJ *



---

TECH

IPOs – Alibaba’s worth is flotation teaser FT *

IPOs – Drop in Tech Stocks Hits Startup Funding WSJ *

IPOs – Tech Fall Isn’t Seen as Sign of Trouble WSJ * *



---

TRADE & TRANSPORTATION

Pipeline – Administration Delays Keystone Decision WSJ / FT / NYT / AP / B / R / G&M

Pipeline – Liberal donor’s $100m ‘depends on Keystone’ B / R



---

COMMODITIES




---

ENERGY & ENVIRONMENT

China – Pollution in cities is becoming a political issue E * *

China – Details Vast Soil Pollution WSJ / FT / AP / R / NYT / B / CD * *

China – Six years of Beijing air pollution q * *

China – Clean-up may cost additional 1.3% GDP / b *

China – Bid to move polluting firms watched warily in nearby regions R



---

LABOR & EDUCATION

Germany – Online retailers under fire over working conditions R / WSJ / FT



---

HEALTH

MERS – Spreads From Middle East to Southeast Asia WSJ / WSJ

Flu – Wikipedia is better than Google at tracking trends LS / q * *



---

ENDNOTES

Canadian Pizza Chain Threatens to Unleash ‘Pizza Cake’ eater *



---




---

Today’s Issue Cluster: Autos

Ukraine – Russia Economy Worsens Even Before Sanctions Hit
Google – Axel Springer accuses of seeking digital ‘superstate’
Pharma – Nasal Spray Holds Hope in Fighting Flu Epidemic



---

DATA POINTS

Japan – Mar: Consumer Confidence Drops to Lowest Since 2011; 37.5 from 38.5 / B / K

Japan – Apr: Reuters Tankan business mood up, outlook clouded by tax hike; 25 from 18 / R *

Germany – Mar: Producer Prices Lower Than Expected; -0.3%, -0.9% yr / WSJ

Canada – Mar: Inflation Rate Rebounds on Energy; 1.5% from 1.1% / B / R / CBC / G&M

US – Apr: Philly Fed manufacturing index picks up; 16.6 from 9.0 / MW *

US – Week: Applications for jobless aid up; +2k to 304k / AP / WSJ / R / B *



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MARKETS

EMs – Bond investors parse the frontier story FT *

EMs – Cash Returns to Asia WSJ *



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ECONOMICS

China – Slowdown Likely to Spur Stimulus, Not Reforms WSJ

China – $90b credit squeeze FT / NYT / b *

China – Now the world’s 3rd biggest foreign investor / wef *



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POLITICS & FISCAL POLICY

Ukraine – EU sanctions push on Russia falters amid big business lobbying FT / WSJ / WSJ

Ukraine – Russia Economy Worsens Even Before Sanctions Hit NYT



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MONETARY POLICY

Fed – Economy Thawing Out, ‘Beige Book’ Finds WSJ / B / FT / AP / R / NYT / WSJ *



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FINANCE

US – Big Banks Ramp Up Business Lending WSJ *



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REAL ESTATE




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SERVICES




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MANUFACTURING

Autos – Makers Renew Efforts to Woo First-Time Buyers in China WSJ *

Autos – China Hunts Down ‘Zombies’ in Effort to Fix Failed Policies B

Autos – Chinese-brand cars lose traction at home FT

Autos – China’s Embrace of Foreign Cars NYT *

Autos – China’s car joint ventures aren’t built to last r *

Autos – Purifying Air for China’s Car Makers WSJ *

Autos – BMW takes China sales drive on the road FT *

Autos – Ford’s SUVs Propel Its China Gains WSJ *

Autos – Nissan’s Datsun relaunch seen as key N *

Autos – Can New Hyundai Sonata Match Predecessor? WSJ *

Autos – EU car sales upturn fails to halt price war R / WSJ / NYT

Autos – French and Italian carmakers make up lost ground in Europe FT *

Autos – Porsche’s 2013 Operating Profit Nearly Matched VW’s WSJ *

Autos – Porsche’s success looms over Maserati sales push R

Autos – GM’s Opel Could Break Even Ahead of Schedule WSJ *

Autos – Car sales discounts threaten European market recovery FT *

Autos – EU Slaps Fines on Car, Truck Bearings Makers WSJ *

Autos – UK Car Demand Hits 10-Year High in March WSJ *

Autos – UK car industry revs up fight against EU exit FT / r * *

Autos – Huge hit to jobs as automotive manufacturing ends in Australia ABC

Autos – Red light in Brazil auto market raises risk of a pile-up R

Autos – Cadillac Test Drivers Warned of Ignition Switches Turning Off in 2006 WSJ *

Autos – Ram Pickup Makes Its Move Against GM, Ford in US WSJ *

Autos – Does Tesla Really Need a $5b Battery? WSJ *



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TECH

Google – Shares dip 5% as earnings disappoint FT / NYT / B / WSJ / R / IBD / q * * *

Google – Axel Springer accuses of seeking digital ‘superstate’ FT / NYT



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TRADE & TRANSPORTATION




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COMMODITIES

Copper – Rebounds After a Beating WSJ *



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ENERGY & ENVIRONMENT




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LABOR & EDUCATION

UK – Wages rise above inflation after six-year squeeze FT / WSJ *



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HEALTH

Pharma – Nasal Spray Holds Hope in Fighting Flu Epidemic NYT *



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ENDNOTES

The Border Between Yankee and Red Sox Nation hsac * *



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