Bz Nwz




---

Today’s Issue Cluster: Coal

Asean – Majority of companies weathering slower growth
Planes – Bombardier: To slash 1,750 jobs, cut business jet production
H5N2 – Egg Farms Hit Hard



---

MAJOR DATA POINTS

Russia – Q1: Economic contraction ‘less than feared’; -1.9% / AFP

Ukraine – Q1: Economy contracts as conflict takes toll; -17.6% / AP

US – Apr: Industrial output falls for 5th month; -0.3% from -0.3% / B / WSJ / R / AP *

US – May: UMich consumer sentiment falls; 88.6 from 95.9 / R / B *



---

MARKETS

China – Bull run sparks foreign investor scramble FT * *

China – Investors Are Staying on the Risky Margins WSJ *

China – Perfect Storm breaks FT *



---

ECONOMICS

Asean – Hard economics hit Southeast Asia consumer dream FT * * *

Asean – Majority of companies weathering slower growth N *

EMs – Don’t expect a quick recovery FT * * *



---

POLITICS & FISCAL POLICY




---

MONETARY POLICY




---

FINANCE

Cards – High-income Canadians using cash the least G&M *

Cards – Visa, MasterCard Get Credit Where Due WSJ *



---

REAL ESTATE




---

LABOR & EDUCATION

Asean – Rising wages send companies in search of cheaper workers N * *

Asean – Aging Asia scrambling for nursing workforce N *



---

SERVICES

Ads – Mobile operators plan to block online advertising FT *

Ads – Advertisers Turn TV Back On WSJ *



---

MANUFACTURING

Planes – Bombardier: To slash 1,750 jobs, cut business jet production G&M / WSJ *

Planes – Bombardier: Flies into jet set turbulence FT *

Planes – Bombardier: Investors wary of enthusiasm for regional jets G&M *

Planes – Embraer: Tugged by Brazil’s Economic Woes WSJ

Planes – China: Anti-corruption drive grounds private jet sales FT *



---

TECH




---

TRADE & TRANSPORTATION




---

COMMODITIES

Gold – Global Demand Falls 1% in Q1 WSJ *

Platinum – Tarnished FT

Manganese – Augurs ill for steel outlook FT

Aluminum – Tumbling premiums put LME queues back in spotlight r *

Zinc – Traders dig in as price rebounds / FT * * *



---

ENERGY & ENVIRONMENT

Coal – India: Modi Prods Monopoly WSJ *

Coal – Japan: Struggles to Find Balanced Energy Strategy WSJ *

Coal – China: Fires Away WSJ *

Coal – US: Rising demand for natgas from pivoting power generators WSJ *

Coal – Glencore Under Fire on Colombia Mines WSJ

Coal – Duke Energy will be in federal court for ash crimes AP



---

HEALTH

H5N2 – Bird flu outbreak hits Nebraska poultry farm: USDA R / AP

H5N2 – Egg Farms Hit Hard NYT / AP / B / AP *

H5N8 – Different bird flu strain detected in Indiana backyard flock AP



---

ENDNOTE

Regional Giraffe Patterns wiki *



---




---

Today’s Issue Cluster: Oil

Currencies – Bolivar: Venezuelan currency continues plunge
China – When a hot money outflow threatens to become a torrent
TPP – Senate compromise gives Obama ‘fair’ trade deal



---

MAJOR DATA POINTS

US – Apr: Producer Prices Fall; -0.4% from +0.2% / R / WSJ / B

US – Week: Jobless Claims Fall; -1k to 264k / WSJ / R / B *



---

MARKETS

Currencies – Bolivar: Venezuelan currency continues plunge FT / R

Currencies – EMs: India much better positioned than Brazil FT * * *

Currencies – Euro: US data is now in the driving seat WSJ *

Currencies – Yen: ‘Comatose since the end of March’ FT *



---

ECONOMICS

China – Gloomy data prompts talk of fresh stimulus FT

China – Launches Stimulus Aimed at Local Debt Crisis WSJ / FT * *

China – Economy Not Getting High on Stimulants WSJ * *

China – When a hot money outflow threatens to become a torrent ft *



---

POLITICS & FISCAL POLICY




---

MONETARY POLICY




---

FINANCE




---

REAL ESTATE

China – Housing Market Shows Signs of Life WSJ



---

LABOR & EDUCATION




---

SERVICES

Gaming – Macau: Cold Streak Spurs Construction Queries WSJ / N *

Gaming – Las Vegas: Investors Place New Bets on a Rebound WSJ *

Gaming – Macau vs. Nevada (Gaming Revenue) / b *



---

MANUFACTURING




---

TECH




---

TRADE & TRANSPORTATION

TPP – Senate compromise gives Obama ‘fair’ trade deal FT / WSJ / R



---

COMMODITIES

Honey – 42% of US hives died in past year AP / WSJ / NYT / R *



---

ENERGY & ENVIRONMENT

Oil – Shale Producers Ready to Raise Production WSJ / FT / B * *

Oil – Many investors are diametrically opposed to David Einhorn’s view FT *

Oil – Fracking could unlock 140b barrels worldwide FT *

Oil – Drillers Answer Low Prices With Cost-Saving Innovations NYT *

Oil – Saudi claims price strategy success FT *

Oil – Saudis spend like there’s no price drop FT * * *

Oil – IEA: OPEC Battle for Market Share Just Beginning WSJ / FT / R *

Oil – OPEC Sees Price Below $100 in the Next Decade WSJ / B *

Oil – Iraqi refinery may be destroyed in battle to save it R *

Oil – ‘Impression of a crowded speculative bet’ WSJ *

Oil – China imports surpass those of US for first time FT *

Oil – US Gasoline Prices Rev Up for Summer WSJ *

Oil – At the gas pump, US biofuel lobby scores a point R *

Oil – Spoils Slow to Flow WSJ *



---

HEALTH

Pharma – Drug ‘super spenders’ cost US healthcare system $52b FT

Pharma – Teva bids for Mylan amid pressure on copycat drugmakers FT *



---

ENDNOTE

Record art sales at auction since 1700 e *



---




---

Today’s Issue Cluster: LatAm

Pistachios – Iran’s About to Shake the World Market
Crops – El Niño blows back; commodity markets wary of false alarm
TPP – Senator Warren hits back at Obama in Pacific Rim trade fight



---

MAJOR DATA POINTS

Japan – Mar: Current-Account Surplus Widens to Biggest Since 2008; +¥2.8t not +¥2.1t / WSJ / B

China – Apr: Industrial-production growth improves slightly; +5.9% from +5.6% / WSJ

China – Apr: Retail sales slowest pace since 2006; +10.0% from +10.2% / FT / R *

EZ – Q1: Economy picks up pace but Germany lags; +0.4% from +0.3% / R / FT / NYT / AP / WSJ *

US – Mar: Business inventories suggest Q1 GDP contraction; +0.1% from -0.2% / R

US – Apr: Retail sales flat from +1.1% / R / R / B / cr *

US – Apr: Import prices fall for 10th month; -0.3% from -0.2% / R / WSJ



---

MARKETS

Bonds – US: Many Investors Still Bullish on Treasury Bonds WSJ *

Bonds – US: Bloodbath Is in the Math WSJ *

Bonds – EU: This is €1t less nuts ft * *

Bonds – EU: Of negative rates and reserve managers ft *

Bonds – China: Debt Stands Tall WSJ *



---

ECONOMICS

World – Inflation Expectations Tick Up WSJ *

World – Oil and bond yields signal shift from deflation worry FT * * *



---

POLITICS & FISCAL POLICY

LatAm – China tilts towards liberal economies FT *

Puerto Rico – Faces battle to avoid default FT / B / AP *

Cuba – US Permits Ferry Service WSJ *

Mexico – Investors take a century-long bet on boom-and-bust E *

Mexico – A deadly new enemy in drugs war FT * * *

Venezuela – Economy Suffers as Import Schemes Siphon Billions NYT

Bolivia – Access to the sea E *

Peru – Fails to dig its way out of deadlock amid mining unrest FT *

Brazil – Economy Struggles to Take Off WSJ

Brazil – Farm sector no savior for economy as credit tightens R *



---

MONETARY POLICY

LatAm – Braces for higher US rates FT



---

FINANCE

US – Senate committee chair plans to wind back bank rules FT / WSJ / WSJ / FT

US – Big Banks’ Debt-Cost Conundrum WSJ *



---

REAL ESTATE

Brazil – Big Property Investors Hunt for Bargains WSJ / WSJ *



---

LABOR & EDUCATION




---

SERVICES




---

MANUFACTURING




---

TECH




---

TRADE & TRANSPORTATION

TPP – Senate Democrats Foil Obama FT / WSJ / NYT / AP / R / B

TPP – Obama Calls Elizabeth Warren ‘Absolutely Wrong’ NYT / WSJ / FT / NYT

TPP – Senator Warren hits back at Obama in Pacific Rim trade fight R / wapo

TPP – Talks trigger nostalgia for trade wars in Japan N

TPP – ‘The embattled future of global trade policy’ ft * *



---

COMMODITIES

Pistachios – Iran’s About to Shake the World Market B

Olives – Fear of Ruin as Disease Takes Hold of Italy’s Trees NYT

Soybeans – Prices Fall as USDA Forecasts Big Crop WSJ

Wheat – Heavyweights battle for global market share FT * *

Crops – El Niño blows back; commodity markets wary of false alarm FT *



---

ENERGY & ENVIRONMENT

Carbon – El Niño confirmation puts climate specialists on alert FT / B

Carbon – Greece, other EU strugglers emerge winners from reforms R *

Carbon – Fossil fuel: warming to a theme FT *



---

HEALTH




---

ENDNOTE

UK coalfields correlate closely with general election results motw *



---




---

Today’s Issue Cluster: Mining

China – Stock-Market Boom Won’t Erase Bad Debts
Australia – Budget U-Turn Puts Gas on Growth
F&B – China now has more vineyard space than France



---

MAJOR DATA POINTS

US – Mar: Job Openings Decrease; -3%, +19% yr / B / cd *



---

MARKETS

China – Tech mania propels start-up board to record high FT *

China – Shares are looking decidedly frothy FT *

China – Stock-Market Boom Won’t Erase Bad Debts WSJ *



---

ECONOMICS

Asia – Debt Market Gets Tougher WSJ *

Asia – Investors Steer Clear of Asean WSJ *

Asia – EM capital outflows eclipse financial crisis levels FT * *

Asia – Block trade surge delivers Goldman windfall R *

Asia – Stalling Exports Make the Case for Stimulus WSJ *

Asia – Diversity drives Indian Ocean region FT *



---

POLITICS & FISCAL POLICY

Australia – Budget U-Turn Puts Gas on Growth FT / FT / R *

Australia – Cuts Growth Forecast WSJ / AFP

Australia – Cloud Over Credit Rating Could Have Silver Lining WSJ *

Australia – The blissful phase of investors’ relationship is over FT / r *



---

MONETARY POLICY




---

FINANCE

Asia – Nonbank Lending’s Shadow Grows WSJ *



---

REAL ESTATE

Australia – Property market boom weighs FT



---

LABOR & EDUCATION




---

SERVICES




---

MANUFACTURING

F&B – Bourbon Makers Singed by a Barrel Shortage WSJ *

F&B – Powdered Alcohol Meets Resistance in US NYT

F&B – US craft beer thrives despite strong dollar FT

F&B – Indonesian Islamic parties seek ban on alcohol consumption R / WSJ *

F&B – NZ winemakers chart growth beyond Australia R *

F&B – China may shake global wine market again, as a producer WSJ *

F&B – China now has more vineyard space than France Q *

F&B – World’s Biggest Wine Producers / statista *



---

TECH

Mobiles – After Galaxy Smartphone Debacle, Samsung Questions Game Plan WSJ * *

Mobiles – Chinese smartphone market falls for first time in six years / CD * *

Mobiles – Chinese Smartphone Makers Try to Make Inroads in India NYT

Mobiles – Global smartphone shipments / ft *



---

TRADE & TRANSPORTATION




---

COMMODITIES

Iron – Chinese rate cut stokes rally FT / FT *

Zinc – Traders dig in as price rebounds FT

Zinc – Investors return, but are they chasing shadows? r *

Copper – Rio Tinto bets on rapid price recovery FT *

Palladium – Prices Fall on China Car Sales WSJ

Platinum – Lonmin to cut 3,500 jobs as market downturn persists FT

Gold – India wants its rich temples to help the economy WaPo *

Metals – China stimulus may boost some commodity exports r *

Mining – BHP Models Leaner Look WSJ *

Diamonds – De Beers Lokks at Mining Waste WSJ *



---

ENERGY & ENVIRONMENT




---

HEALTH




---

ENDNOTE

Birthplace of 30 famous cocktails motw *



---




---

Today’s Issue Cluster: US Labor

China – Next Up: How to Get Loans to Small Firms
Power – ‘Time to Give Utility Stocks Another Look’
H5N2 – To claim 4m more egg-laying chickens



---

MAJOR DATA POINTS

China – Apr: CPI grows; +1.5% from +1.4% / B / AP / AFP / X *

China – Apr: PPI falls; -4.6% from -4.6% / X *



---

MARKETS

China – Investors Pay a Price for Caution WSJ *



---

ECONOMICS

China – Economy Isn’t Trading Away the Pain WSJ *

China – Exports collateral damage in currency wars / b *

China – Plan to deal with its debt mountain ft *

China – Asean countries to benefit from waning competitiveness FT * *



---

POLITICS & FISCAL POLICY




---

MONETARY POLICY

PBOC – China cuts rates for third time in six months FT / WSJ / NYT / R / AP *

PBOC – China rate cuts aim to hold line against deflation FT * *

PBOC – China’s Rate Cut Isn’t the Deepest WSJ *



---

FINANCE

China – Next Up: How to Get Loans to Small Firms WSJ *

China – ‘Rate cut more likely to cushion deleveraging than reignite loan growth’ b *



---

REAL ESTATE

China – Resurgent Property Market Isn’t So Grand WSJ *



---

LABOR & EDUCATION

US – Adds 223,000 Jobs; Jobless Rate Falls to 5.4% WSJ *

US – March Revisions Yield Sub-Par Jobs Report B * * * *

US – The April Jobs Report in Charts wsj * * * * *

US – Jobs Vie With Growth for Fed’s Attention WSJ / wsj *

US – Productivity Falls 1.9% WSJ * *

US – Low productivity alarms policy makers FT * * *

US – Productivity Is Sinking B * *

US – Labor vs. Capital, Workers Gain a Slight Edge WSJ / FT *

US – High Share of Part-Time Workers Helps Explain Weak Wage Growth wsj *

US – By One Measure, Wages for Most Workers Peaked in 1972 wsj *

US – High stakes on low pay FT * * *

US – The economics of low wages E * * *

US – Wage growth and shale wage growth totally different bi *

US – Companies Push Training to Close Skills Gap WSJ *

US – Personality Tests Raise the Bar for Job Seekers WSJ *

US – Robots Step Into New Planting, Harvesting Roles WSJ

US – Vocational education shortfall stifles mobility FT * * *



---

SERVICES




---

MANUFACTURING

F&B – Bottled water flies off shelves as fizzy drinks go flat FT * * *

F&B – PepsiCo to Drop Aspartame From Diet Pepsi WSJ *



---

TECH

Mobiles – China’s Smartphone Market Slows Down WSJ

Mobiles – Chinese market becomes increasingly core to Apple FT * * *



---

TRADE & TRANSPORTATION




---

COMMODITIES




---

ENERGY & ENVIRONMENT

Power – ‘Time to Give Utility Stocks Another Look’ Bn *

Power – Utilities’ Profit Recipe: Spend More WSJ *



---

HEALTH

H5N2 – To claim 4m more egg-laying chickens AP

H5N2 – Outbreak Prompts State of Emergency in Iowa WSJ / R

H5N2 – Bird flu may take bite out of Thanksgiving R / AP



---

ENDNOTE

Manhattan Rents by Subway Stop thrillist *



---




---

Today’s Issue Cluster: Nuclear Power

UK – It is 1992 all over again for Conservatives
HigherEd – For-Profit Implosion Intensifies
Drugs – More Land in Colombia Used to Grow Coca, US Says



---

MAJOR DATA POINTS

China – Apr: Export slump highlights slowdown; -6.2% from -14.6% / WSJ / FT / R / AFP *

US – Apr: Adds Jobs; +223k from +85k / WSJ / NYT / R / AP / FT *

Canada – Apr: Sheds jobs; -20k from -28k / G&M / FP / CBC / R



---

MARKETS

Bonds – German Bunds’ Swings Roil Government-Debt Markets WSJ * * *

Bonds – Investors stung by eurozone bond volatility FT *

Bonds – Sell-off reveals market’s new equilibrium FT *



---

ECONOMICS

EU – Eurozone Gets Growth in Gear WSJ *

EU – Says Stimulus, Oil Price Speeds Growth WSJ *

EU – France: Tries to catch up E / E * * * *

EU – France: “Economic patriotism” is not what it seems r *

EU – Spain: Adds 500k jobs as recovery spreads FT *



---

POLITICS & FISCAL POLICY

UK – Cameron on course for victory FT / WSJ *

UK – Labour-Backing Mirror Updates Front Page For Surprise Result BBC *

UK – City celebrates unexpected Conservative victory FT / WSJ

UK – Lloyds and HSBC Still Face Tax Headache in Tory Britain WSJ *

UK – It is 1992 all over again for Conservatives FT

UK – EU to Discuss Reform Proposals With Cameron ‘Soon’ WSJ / FT

UK – Nationalists triumph in Scotland; possible new independence vote R *



---

MONETARY POLICY

World – ‘Central banks have printed $11t, yet global inflation has never been lower’ r *



---

FINANCE

EU – Spaniards are spending again, but not necessarily borrowing FT *



---

REAL ESTATE

UK – Election uncertainty curbs construction activity FT

UK – Conservative councils less likely to approve housebuilding schemes FT

UK – Regeneration is forcing the working class out of central London E *



---

LABOR & EDUCATION

HigherEd – For-Profit Implosion Intensifies B

HigherEd – College Majors Figure Big in Earnings WSJ *



---

SERVICES




---

MANUFACTURING

Defense – UK ‘is running down its armed forces’ E *

Defense – German military no longer standing at ease FT *

Defense – Submarines Resurface as Growth Business WSJ * * *



---

TECH




---

TRADE & TRANSPORTATION




---

COMMODITIES




---

ENERGY & ENVIRONMENT

Nuclear – France: Dynamo Stalls NYT / NYT *

Nuclear – French Model Falters NYT *

Nuclear – Japan: Moves closer to restart FT / E *

Nuclear – China: Seeks united front in reactor export push FT

Nuclear – US: Goes Begging, Likely at Consumers’ Expense WSJ *



---

HEALTH

Drugs – More Land in Colombia Used to Grow Coca, US Says NYT

Drugs – Aging Baby Boomers Bring Habits into Middle Age WSJ * *

Drugs – High Cinema / nyfa / wapo *



---

ENDNOTE

Wine map of London tol *



---




---

Today’s Issue Cluster: Oil

Won – A burden for South Korean exporters
Nigeria – Boko Haram in disarray as government forces advance
Pipeline – How Canada’s oil will find its way to Gulf



---

MAJOR DATA POINTS

US – Week: Jobless claims hold near 15-year low; +3k to 265k / R / AP / B / WSJ



---

MARKETS

Yuan – China knocks on door of reserve currency club FT / b * * *

Won – A burden for South Korean exporters N / N * *

Kiwi – Can’t Quite Catch Aussie WSJ *

Real – Brazil buffeted by speculation over US rates FT * * *



---

ECONOMICS

Nigeria – Audit: state oil company siphoning revenues FT *

Nigeria – Central bank chief proposes selling down oil assets FT * * *



---

POLITICS & FISCAL POLICY

Nigeria – Boko Haram in disarray as government forces advance R * *

Nigeria – Divisions to Test Nation’s New Leader WSJ *



---

MONETARY POLICY




---

FINANCE




---

REAL ESTATE

US – CoreLogic: House Prices up 5.9% cr *

US – Americans are running out of places to rent bi *

US – New Homes Have Become Much Bigger wsj * * * *



---

LABOR & EDUCATION




---

SERVICES




---

MANUFACTURING




---

TECH

EU – Announces Plans to Create Digital Single Market WSJ / FT / NYT *

EU – Opens Antitrust Inquiry Into E-Commerce Sector NYT

EU – Delays Decisions on Tax Probes into Apple, Amazon WSJ



---

TRADE & TRANSPORTATION

Pipeline – How Canada’s oil will find its way to Gulf G&M * *

Pipeline – Grass-Roots Push to Block the Keystone’s Path NYT

Pipeline – ‘Debunking claims Keystone would only ship Canadian crude’ CP

Pipeline – TransCanada Asks US Permission for Upland Project WSJ

Pipeline – SD legal wranglings adds to Keystone headaches FP

Pipeline – Map of US Oil Lines / bp *

Pipeline – First Nation offered C$1b to support project FT / G&M / G&M * *

Pipeline – Gatekeeper of Energy East has mixed environmental record R *



---

COMMODITIES

Commods – Rises hint at global reflation R *

Commods – Fate linked to dollar FT *



---

ENERGY & ENVIRONMENT

Oil – Rebound tests its limits FT / WSJ / B / NYT / R

Oil – Alberta industry fears ‘lowest royalties’ threatened by NDP FP / B / R / WSJ / FT / NYT

Oil – US Worries Key Iraqi Refinery Could Fall to Islamic State WSJ

Oil – Mideast using a record number of drilling rigs B *

Oil – Industry Debt Mounts Up WSJ *

Oil – Refining Business Softens Blow From Crude Drop WSJ *

Oil – Majors’ Quandary: Why Drill When They Can Buy? WSJ *

Oil – China Industry Resists Proposal to Merge Companies WSJ *

Oil – Fallout of Energy-Price Crash Spreads WSJ *

Oil – Majors face a real risk of stranded assets WSJ *

Oil – Plastic recyclers feel the squeeze after price crash FT * * *

Oil – Fracking: The energy revolution that shook the world FT *

Oil – ‘Shale looks more like dotcom boom than Lehman debt bubble’ FT

Oil – ‘Boost from lower prices is smaller than you might expect’ E *

Oil – Prices: Two Experts Make Their Conflicting Cases WSJ * *

Oil – What the Future of Drilling Will Look Like WSJ *

Oil – Peak Demand: Within two decades, use will start to fall WSJ *



---

HEALTH




---

ENDNOTE

The states where women’s heels are the highest wapo *



---




---

Today’s Issue Cluster: Bonds

Greece – Overturns civil service reforms
China – Passes Mexico as the Top Source of New US Immigrants
Hotels – US chains raise rates as travel picks up
Rail – New US rules will slow shipping and reduce capacity, BNSF says



---

MAJOR DATA POINTS

EZ – Apr: Final Markit composite PMI rises; 53.9 was 53.5 / AP / WSJ / R *

EZ – Mar: Retail sales fell; -0.8%, +1.6% yr / R *

US – Apr: ADP private payrolls growth moderates; +169k from +175k / WSJ / R / *

US – Q1: Productivity drops; -1.9% from -2.1% / AP / WSJ / R / B



---

MARKETS

Bonds – World: Rising yields spark rush for exits FT

Bonds – US: Bankers and Regulators Voice Fears on Volatility NYT / R *

Bonds – US: Japan Insurers Pile Into Treasuries WSJ *

Bonds – EZ: Chances for Return on Government Debt Diminish WSJ *

Bonds – Germany: Does About-Face as Yields Rise NYT / t *

Bonds – Germany: Reversal a Welcome Risk Reminder WSJ * *

Bonds – Japan: Foreign investors gobbling up government debt N * *

Bonds – EMs: The calm before the tantrum E *

Bonds – LatAm: Will be the hardest hit of EMs as the Fed tightens FT



---

ECONOMICS

Australia – Seeks Cure for Its Mining Hangover WSJ *



---

POLITICS & FISCAL POLICY

Greece – Overturns civil service reforms FT

Greece – ECB Mulls Tighter Rules B

Greece – ‘EU more relaxed about contagion than in 2010?’ rbs *

Greece – European Commission slashes growth forecast FT / WSJ * * *

Greece – Trading in Government Bonds Slows to a Trickle WSJ *

Greece – Moody’s cut credit rating deeper into junk territory r *

Greece – Five Years After First Bailout, Back on the Brink WSJ / FT / AFP *

Greece – ‘Grexit may be the best end for a bad marriage’ ft



---

MONETARY POLICY

RBA – Australia Cuts Benchmark Rate to Record Low 2% WSJ / FT / R / B / AP / ABC / SMH *



---

FINANCE




---

REAL ESTATE

Australia – New home sales hit five-year high Aus

Australia – Worry over debt as house prices rise WSJ / ABC / Aus *



---

LABOR & EDUCATION

China – ‘Migrant miracle’ nears an end as cheap labor dwindles FT / FT / FT / FT * * *

China – Three things we learned from making a migration choropleth ft *

China – Passes Mexico as the Top Source of New US Immigrants wsj *



---

SERVICES

Hotels – US chains raise rates as travel picks up R

Hotels – At Record Occupancy Pace in 2015 cr *

Hotels – REITs underperform despite record rates and occupancies WSJ *



---

MANUFACTURING




---

TECH

Mobiles – Racing Against Google to Sell Wi-Fi Phones WSJ

Mobiles – Will cell towers soon become obsolete? CNBC



---

TRADE & TRANSPORTATION

Rail – Norfolk Southern Blasts Oil-Train Rules WSJ

Rail – New US rules will slow shipping and reduce capacity, BNSF says G&M *

Rail – Canadian oil trains shift to carry less-volatile crude R

Rail – New Rules Are Big Brake for Two Suppliers WSJ *



---

COMMODITIES

Water – Nowhere Is Safe From California Drought WSJ / NYT *

Water – Latest Victim of California’s Drought: Utility Bonds WSJ *

Water – Huge China diversion project runs into budgetary constraints WSJ *



---

ENERGY & ENVIRONMENT




---

HEALTH




---

ENDNOTE

Distribution of blood type in the world tslt
Type O: *
Type A: *
Type B: *
Type AB: *



---




---

Today’s Issue Cluster: UK Politics & Policy

TPP – Extreme secrecy eroding support for trade pact
Iron – Urbanising India best bet for Chinese steel
Shale – US: Fracking Chemicals Detected in PA Drinking Water



---

MAJOR DATA POINTS

US – Mar: Trade Gap Widens on Surging Imports; -$51b from -$36b / WSJ / R / AP / B / FT

US – Apr: ISM services index rose; 57.8 from 56.5 / AP / B / WSJ

US – Apr: Markit services sector growth cools; 57.4 was 57.8 / R



---

MARKETS

Asia – Block trades find favour FT * * *

Asia – Block Trades Hit Records as Stocks Rally WSJ *

Asia – Tokyo has potential to retake centre stage FT *



---

ECONOMICS

UK – Sluggish economic growth not seen as a slowdown FT * *

UK – Post-election chaos threatens to expose economic weaknesses FT *

UK – Voters count cost of living standards pain R *

UK – Economy failing to innovate FT / FT *

UK – Farmers plough on in search of better productivity FT *

UK – London stocks await election fate at high valuations FT *

UK – Election jitters prompt exodus from Britain’s gilt market FT * *



---

POLITICS & FISCAL POLICY

UK – In for Some Postelection Instability WSJ

UK – Disgruntled Voters Rally to Small Parties WSJ * *

UK – SNP may decide who governs FT * *

UK – Populus says SNP will be main general election beneficiary FT *

UK – Exit will hurt UK more than EU, says study FT *



---

MONETARY POLICY

BOE – Hints at rate rise sooner than market expects FT



---

FINANCE




---

REAL ESTATE

UK – Housebuilders warn against politicians’ ‘unachievable’ targets FT

UK – Fears build over move to extend Right to Buy FT * * *



---

LABOR & EDUCATION

UK – Immigration to Britain r *



---

SERVICES

Telecoms – Charter Interest in Friendly Deal With TWC WSJ / WSJ

Telecoms – Charter in a stronger position than a year ago / b *

Telecoms – Bright House Emerges as a Player in the New Cable Drama WSJ

Telecoms – Comcast’s Broad Appeal for Investors WSJ / FT / NYT / q * *

Telecoms – Comcast’s next act FT / WSJ / WSJ * * *



---

MANUFACTURING




---

TECH




---

TRADE & TRANSPORTATION

TPP – Extreme secrecy eroding support for trade pact Pol / WSJ / FT / FT *

US/China – Disconnect on Trade Deals WSJ *



---

COMMODITIES

Iron – Rally starts to fade FT

Iron – Price War Has China’s Miners Reeling WSJ *

Iron – Record China futures hold global market hostage R *

Iron – Urbanising India best bet for Chinese steel R *



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ENERGY & ENVIRONMENT

Shale – US: Einhorn targets US ‘frack addicts’ FT / WSJ / R / WSJ

Shale – US: ‘Boom Has Already Gone Bust – At Least for Now’ B *

Shale – US: ‘Half of fracking firms going bust this year’ / b *

Shale – US: Fracking Chemicals Detected in PA Drinking Water NYT

Shale – US: How Much Oil and Gas Comes From Fracking? wsj *

Shale – China: Beijing plans curbs on subsidies FT / X



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HEALTH




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ENDNOTE

Active separatist movements in Europe Wiki / motw *



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Today’s Issue Cluster: Autos

China – Widens foreign access to domestic bond market
AVs – Hands-Free Cars Take Wheel, and Law Isn’t Stopping Them
ERs – Paving the way for electric roads



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MAJOR DATA POINTS

China – Apr: HSBC Factory Gauge Shows Weakness; 48.9 from 49.6 / WSJ / R / AP / B *

EZ – Apr: Markit Manufacturing Sector Slows; 52.0 from 52.2 / WSJ

US – Mar: US factory orders rise for first time in 8 months; +2.1% from -0.1% / R / AP *



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MARKETS

China – Long Bull Run Bn * *

China – Stocks are high but can go higher FT *

China – IPO froth bubbles over FT *

China – Widens foreign access to domestic bond market FT * *

China – IMF on verge of declaring Yuan fairly valued WSJ *



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ECONOMICS

China – Can’t Kick Savings Habit BW *

China – Foreign grocers struggle in retail market FT / WSJ / FT * *



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POLITICS & FISCAL POLICY




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MONETARY POLICY




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FINANCE

China – Big Banks Show Weak Profit Gains Amid Slower Growth WSJ / B

China – Banks Run Low on Provisions WSJ *

China – Rethinks Safety Net for Its Banking System NYT / B *

China – Banks in Asia Get Pickier About High-End Clients WSJ *



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REAL ESTATE

China – New home prices edge down AFP

China – Beijing suburbia or your own tropical island? FT *



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LABOR & EDUCATION




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SERVICES




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MANUFACTURING

Autos – US: Luxury Cars Drive Sales Higher WSJ / NYT / AP / R *

Autos – US: Car Retailing Grabs Merger Spotlight WSJ *

Autos – Mexico: Steals a march on China FT

Autos – Mexico: Ford investment highlights booming sector FT * *

Autos – EU: New-Car Registrations Rise Sharply WSJ / FT / NYT / R / AFP

Autos – China: Chinese carmaker sales drop at home N * *

Autos – China: ‘The coming crash’ E *

Autos – China: Made-in-China cars steer course abroad FT * *

Autos – China: Carmakers prepare for deceleration FT / WSJ * * *

Autos – China: Buyers find discounts on luxury in gray market WSJ / AFP

Autos – China: CEO of Struggling Qoros Vows Overhaul WSJ *

Autos – China: Great Wall Has No Moat for SUVs WSJ *

Autos – Russia: Carmakers take divergent roads FT

Autos – Fiat Chrysler: Faces More Legal Hazards WSJ *

Autos – Fiat Chrysler: Hole in Brazilian Sales WSJ *

Autos – Fiat Chrysler: Exhaust-ed FT *

Autos – VW: A Game of Thrones as Chairman Quits FT / WSJ / NYT / FT * * * * * * *

Autos – Toyota: New plants to lift capacity to 11m N / WSJ / FT / R / AP *

Autos – Hyundai: New headquarters a monument to family politics N *

Autos – Electric: Won’t spread even with rapid chargers: Toyota engineer R

Autos – Hydrogen: Fuel Cell Cars Return for Another Run NYT



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TECH

Batteries – Tesla Ventures Into Power Storage WSJ / FT / R / B / NYT *

Batteries – Tesla Could Power Utilities WSJ / FT / B / FT / WSJ * *



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TRADE & TRANSPORTATION

AVs – Hands-Free Cars Take Wheel, and Law Isn’t Stopping Them NYT

AVs – Connected cars: Tyred and wired FT *

AVs – Planes Without Pilots NYT

ERs – Paving the way for electric roads N *



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COMMODITIES




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ENERGY & ENVIRONMENT




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HEALTH

Pharma – Is The Wedding Dance Nearly Finished? IBD

Pharma – Top 100 drugs represent 60% of total Medicare spending WSJ *

Pharma – Generic Vicodin Was a Top Medicare Drug in 2013 WSJ *



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ENDNOTE

New York Galleries Start Dwarfing Museums hyper *



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