Bz Nwz

Today’s Issue Cluster: Planes

Fed – Six members now see only one rate hike in 2016
Media – Amazon is preparing to launch streaming music service
NatGas – Coming supply wave puts focus on finding new shores



MAJOR DATA POINTS

US – May: Consumer Prices Rose; +0.2% from +0.4% / WSJ / R

US – Jun: NAHB Home-Builder Sentiment Rose; 60 from 58 / WSJ

US – Q1: Current account deficit widened to 7 year high; -$125b from -$113b / R

US – Week: Jobless Claims Rose; +13k to 277k / WSJ / B



MARKETS

ECONOMICS

POLITICS & FISCAL POLICY

MONETARY POLICY

Fed – Rethinks Pace of Hikes WSJ *

Fed – Yellen Says Brexit Vote Influenced Call B / FT / NYT / R * * *

Fed – Six members now see only one rate hike in 2016 B *

Fed – Yellen Faces Dilemma as Economy Runs Short of Workers B *



FINANCE

REAL ESTATE

LABOR & EDUCATION

SERVICES

Media – Apple Redesigns Music App, Has 15m Paid Subs B / WSJ

Media – Amazon is preparing to launch streaming music service R *

Media – YouTube Faces Music World Banding Together NYT

Media – Tidal has a Beyoncé hit, but business may not ride the wave FT * *

Media – Spotify’s one-trick business model vulnerable to pressure FT

Media – Spotify plots path to profit R *



MANUFACTURING

Planes – Airbus chief says A350 delivery goal is a challenge WSJ / R / B

Planes – Airbus A380 Available for Rent at 40% Discount B

Planes – Airbus Loses Qatar A320neo Order Over Delays WSJ

Planes – Airbus Struggles With Its Success WSJ / R

Planes – Airbus boss strives for upward trajectory FT *

Planes – Airbus Tackles Its Procrastination Problem WSJ *

Planes – Airbus Ponders How to Blunt Boeing Range Advantage WSJ

Planes – Airbus under new pressure over A400M as deliveries slip R

Planes – Boeing’s Defense Chief Looks Beyond Fighters WSJ *

Planes – Bombardier does a hard sell on new jet FT * * *

Planes – Russia unveils new plane it says will rival Boeing, Airbus R *

Planes – The air-leasing sector may soon face harder times E *



TECH

TRADE & TRANSPORTATION

Ship – More Than Five NatGas Tankers a Week to Traverse Wider Panama Canal B *



COMMODITIES

Coffee – WHO Drops Status as Possible Carcinogen WSJ / FT / R / B

Coffee – Cold Version Is Booming in the US B *

Coffee – Value of premium arabica beans in storage is deteriorating WSJ *



ENERGY & ENVIRONMENT

NatGas – Coming supply wave puts focus on finding new shores R

NatGas – Unlikely casualty in CA renewable energy boom R

NatGas – Slowing China demand stalls ‘golden age’ FT



HEALTH

ENDNOTE

Photos taken by locals and tourists in NY motw *



Today’s Issue Cluster: Retail

China – IMF warns on ‘high and rising’ debt risk
Oil – Majors: $1tn spending cut raises fears over future supply
Oil – US: Billions in Proven Shale Reserves Suddenly Became Unproven



MAJOR DATA POINTS

US – May: Industrial Output Fell, Auto Production Plummeted; -0.4% from +0.6% / AP / R / WSJ

US – May: Producer Prices Climbed on Energy; +0.4% from +0.2% / WSJ / R



MARKETS

China – MSCI Delays Adding Shares to EM Index WSJ / FT / NYT / FT * *

China – Investors see heavy hand behind recent market tranquility WSJ *

China – Spent $470b to maintain confidence in renminbi FT *

China – Corporate Bonds Too Murky for Many Investors WSJ *



ECONOMICS

China – IMF warns on ‘high and rising’ debt risk FT / ft *

China – Sputtering Sound Returns WSJ *



POLITICS & FISCAL POLICY

MONETARY POLICY

FINANCE

China – How Fixing Problems Can Make Them Worse WSJ *



REAL ESTATE

China – Fears that Shenzhen property boom will hurt tech boom R



LABOR & EDUCATION

SERVICES

Retail – Strength Gives Fed Some Clarity on Growth Outlook WSJ

Retail – Attention Shoppers: Yoga in Aisle 3 WSJ *

Retail – Online Gives Industrial REITs a Lift WSJ

Retail – UK stores struggle with global move away from physical shops FT *

Retail – Alibaba Expects 48% Revenue Growth WSJ *

Retail – Alibaba Says fakes are better than originals FT

Retail – India ecommerce growth found in translation FT *



MANUFACTURING

TECH

Telecoms – FCC’s Net-Neutrality Rules Upheld by Appeals Court WSJ / FT / NYT

Telecoms – Wireless Providers Bid On FCC Spectrum IBD



TRADE & TRANSPORTATION

COMMODITIES

ENERGY & ENVIRONMENT

Oil – Market: IEA sees no sustained balance until 2017 FT / B *

Oil – Market: Opec points to demand exceeding production R

Oil – Market: Opec spare capacity forecast to fall this year & next b *

Oil – Majors: $1tn spending cut raises fears over future supply FT / B *

Oil – Majors: Find virtue in integration FT *

Oil – Exporters: Learn to Live with Lower Prices imf *

Oil – Venezuela: Production Drops Sharply WSJ

Oil – China: Output Cut by Most in 15 Years B *

Oil – US: Billions in Proven Shale Reserves Suddenly Became Unproven B

Oil – US: Shale producers evolve in survival of the fittest FT

Oil – US: Rising Prices Encourage Shale Producers B *

Oil – US: Drillers Add Rigs for Two Straight Weeks / b *



HEALTH

ENDNOTE

Map Of The Town of Springfield From The Simpsons bm *



Today’s Issue Cluster: Alternative Energy

Fed – Not June, Not Likely July, More Likely September
US – Running Out of Workers to Fill Open Jobs?
US/Canada – Lumber talks stalled, litigation looms



MAJOR DATA POINTS

EZ – Apr: Industrial Output Rebounds; +1.1%, +2.0% yr / WSJ *

US – May: Retail Sales Rose; +0.5% from +1.3% / WSJ

US – May: Import Prices Rise Fastest Since 2012; +1.4% from +0.7% / WSJ / R

US – Apr: Business inventories barely rose; +0.1% from +0.3% / R



MARKETS

Bitcoin – Price Hits Two-Year High WSJ *

Bitcoin – Resurgence may be short-lived E *



ECONOMICS

US – A lot of economic data still flashing green r *

US – When barometers go wrong E * *

US – Odds of recession up to 36% after job report / jpm *

US – Aren’t Buying More Abroad Despite the Dollar’s Surge B *

US – Investors in capital-intensive sectors will hope data are misleading FT *



POLITICS & FISCAL POLICY

MONETARY POLICY

Fed – Not June, Not Likely July, More Likely September B *

Fed – Economists See Two 2016 Rate Hikes B *

Fed – Concerns over US labour market weigh on next move FT / B * *

Fed – Wrestles With So-Called Natural Rate WSJ *



FINANCE

US – Top Republican outlines plans to rip up Dodd-Frank FT / WSJ / NYT

US – Branched out FT * *



REAL ESTATE

US – Builders Fail to Profit From Slump in Raw Materials Prices WSJ *

US – CoreLogic House Prices Up 6.2% / cr *

US – May Was a Renter’s Market for Manhattan Apartment Seekers / B *

US – Dodge Index for Commercial Real Estate Up 2.4% / cr *

US – Where Are the Warehouses? / WSJ *



LABOR & EDUCATION

US – Running Out of Workers to Fill Open Jobs? B *



SERVICES

MANUFACTURING

TECH

TRADE & TRANSPORTATION

US/Canada – Lumber talks stalled, litigation looms R



COMMODITIES

ENERGY & ENVIRONMENT

Alt – Germany’s renewable energy reforms ‘a step backwards’ DW

Alt – Denmark Scares Off Investors After Energy Agenda Is Jettisoned B *

Alt – Solar Panel Leasing Decreases as More Customers Look to Buy WSJ / B *

Alt – Solar battery makers eye take-off as prices fall R

Alt – Solar Is the Fastest-Growing Energy B * *

Alt – The World’s Largest Solar Plant Just Torched Itself giz *

Alt – Energy groups in pledge to slash cost of offshore wind farms FT *

Alt – Oil drilling technology could be used to harness wind B *

Alt – England not windy enough, admits wind industry chief DT

Alt – Big oil is dipping a few more toes into clean energy B *

Alt – Clean-Energy Jobs Surpass Oil Drilling for First Time in US / B *

HEALTH

ENDNOTE

Photos taken by locals and tourists in DC motw *



Today’s Issue Cluster: Automated Vehicles

Venezuela – GDP expected to shrink 13%; inflation heading for 700%
BCB – Brazil’s New Central Banker Sees Grim Outlook
eTaxi – US: NY drivers are breaking up with Uber to get back with yellow



MAJOR DATA POINTS

China – Jan-May: Fixed-asset investment weaker; +9.6% from +10.5% / WSJ / FT



MARKETS

Venezuela – Gives unexpected boost to bond investors FT *

Venezuela – Reserve liquidation in one chart ft *

Venezuela – GDP expected to shrink 13%; inflation heading for 700% / iif *



ECONOMICS

Brazil – GDP reveals depths of recession FT / WSJ *

Brazil – Exploding Debt-to-GDP Is Going to Become a Problem Soon B *

Brazil – Decline is taking its toll FT * *

Brazil – Moves to shrink the state FT *

Peru – Former World Bank economist wins knife-edge election FT / FT *

Bolivia – Firm economic fundamentals buck commodities downturn FT * *



POLITICS & FISCAL POLICY

Mexico – Political risk on the rise FT

El Salvador – Declares bloody war on gangs FT *



MONETARY POLICY

BCB – Brazil’s New Central Banker Sees Grim Outlook B *



FINANCE

LatAm – Spain’s big banks show their commitment FT*



REAL ESTATE

LABOR & EDUCATION

SERVICES

MANUFACTURING

TECH

eTaxi – Uber cranks up battle with $3.5b Saudi investment FT / B * *

eTaxi – US: NY drivers are breaking up with Uber to get back with yellow Crains

eTaxi – US: Uber fighting reg that allows “feeding and stabling horses” but not them FT

eTaxi – US: Car Makers Are Hailing a Ride WSJ *

eTaxi – France: Court finds Uber guilty of starting ‘illegal’ car service FT / WSJ

eTaxi – Germany: Now roughly equal in value, Uber and Daimler trade gentle blows R

eTaxi – China: Uber faces uphill battle vs Didi FT *

eTaxi – China: Uber and Didi Drive Closer to Profitability WSJ / WSJ / R / WSJ

eTaxi – Asia: Grab grasps for advantage FT

eTaxi – Wal-Mart: to test grocery delivery with Uber, Lyft R / WSJ / FT

eTaxi – Auto and tech giants get on board N *



TRADE & TRANSPORTATION

AVs – Detroit Battles for the Soul of Self-Driving Machines WSJ *

AVs – Advocates call for federal laws to supplant local regulation WSJ / R

AVs – Baidu Plans to Mass Produce Autonomous Cars in Five Years WSJ

AVs – Otto Venture Targets Heavy Trucks WSJ / FT / NYT *



COMMODITIES

ENERGY & ENVIRONMENT

HEALTH

ENDNOTE

Where to Live If You Want Lots of Trading Holidays B *



Today’s Issue Cluster: Oil

NIRP – Denmark: Where Negative Interest Rates Are Normal
Russia – Retools After Crash
Brexit – Significant opposition to an ever closer EU



MAJOR DATA POINTS

US – Jun: UMich Consumer Sentiment Drops; 94.3 from 94.7 / CNBC



MARKETS

NIRP – Germany: Sets negative rate milestone FT

NIRP – Denmark: Where Negative Interest Rates Are Normal B *



ECONOMICS

EU – Signs of life return to French industry FT *

Hungary – ‘Orbanomics’ hits hurdle with first-quarter contraction FT *

E.Europe – Net benefit per capita / reddit *

Russia – Retools After Crash B *

Russia – Number of billionaires declines e *



POLITICS & FISCAL POLICY

EU – Political Anguish Spreads From Spanish to Italian Bonds B *

EU – Spain’s once-mighty Socialists set to be eclipsed by far-left FT *

Brexit – Battle targets Conservative voters FT * *

Brexit – Vote Looms Large in UK’s Detroit WSJ *

Brexit – Enthusiam for EU in sharp decline throughout Europe FT *

Brexit – Significant opposition to an ever closer EU pew * *

Brexit – ‘Could Lead to Europe-wide Contagion’ B *



MONETARY POLICY

ECB – Readies Corporate Bond Buying to Give Inflation Jolt WSJ / FT *

ECB – Kicks off corporate bond buying / ft * *

ECB – Doesn’t Need New Stimulus to Hit Goal, Policy Maker Says B *

ECB – Projected to not raise rates for four years b *



FINANCE

World – Lisbon and Warsaw take on New York and London FT *



REAL ESTATE

UK – Government subsidy increases political risk attached to builders FT *



LABOR & EDUCATION

SERVICES

MANUFACTURING

TECH

TRADE & TRANSPORTATION

COMMODITIES

ENERGY & ENVIRONMENT

Oil – Market: Options Investors Bet on Surge Above $100 B *

Oil – Market: Getting used to looking up, not down FT *

Oil – Offshore: Billionaire’s Bargain Reveals Risks for Creditors B *

Oil – UK: North Sea £30b break-up FT * * *

Oil – Nigeria: Tumbling Production Drags Total Opec Supply Lower B / B *

Oil – Nigeria: Shell-Operated Pipeline Said to Be Under Repair B / b *

Oil – US: Fracking Fleet Shrinks 50% in a Year / b *

Oil – US: The Epicenter of Bust Is Drawing Buyers WSJ *

Oil – US: Shale King Returns After Oil Rallies to $50 B *

Oil – Iran: Shipping Companies Set $2.4b in Deals WSJ

Oil – China: Plagued by refining overcapacity FT / WSJ *

Oil – World: Reserves stable despite drop in investment R *

Oil – US: Leisure travel helps push gasoline demand to record R * *

Oil – India: Millions of New Vehicles Give Prices a Lift WSJ *

Oil – India: The new China bi * *



HEALTH

ENDNOTE

Most Commonly Spoken Language Other than English by London Boroughs motw *



Today’s Issue Cluster: Mobiles

Retail – Wal-Mart fights to defend its dominance
Crops – Tomatoes: Miner Grubs Are Wiping Out Africa Farms
Coal – World Starts to Turn Away as Cheap Oil Gains Market



MAJOR DATA POINTS

China – May: CPI Cools, Stoking Stimulus Expectations; +2.0%, PPI -2.8% / WSJ *

South Africa – Q1: Contraction raises prospect of recession; -1.2% / FT

US – Apr: Wholesale inventories rise; +0.6% from +0.2% / R

US – Week: Jobless claims drop; -4k to 264k / R / WSJ



MARKETS

ECONOMICS

SK – Economy pays price for China slowdown and cheap oil FT * *

SK – Country dependent on large manufacturers WSJ * *



POLITICS & FISCAL POLICY

MONETARY POLICY

BOK – Surprises With a Rate Cut WSJ

BOK – Record low 1.25% FT / B *



FINANCE

NIRP – Japan’s Largest Bank Considers Quitting Bond Role WSJ

NIRP – Stirs bank mutiny FT



REAL ESTATE

LABOR & EDUCATION

Japan – Moves to Lure More Foreign Workers WSJ *



SERVICES

Retail – Survey Shows Rapid Growth in Online Shopping WSJ *

Retail – Wal-Mart fights to defend its dominance E * *

Retail – UK stores concerned about shipping costs for e-commerce bi *

Retail – Amazon to deliver $3b investment in India FT *



MANUFACTURING

TECH

Mobiles – It’s Huawei’s turn to shine in China’s fickle market N * *

Mobiles – China’s Smaller Makers Feel the Squeeze WSJ

Mobiles – Cellphone Study Fans Cancer Worries WSJ / nyt *

Mobiles – Apple Forecasts Second Sales Drop B *

Mobiles – Apple sets sights on bigger target in India FT * *

Mobiles – Google Pressures Partners to Update Android B *

Mobiles – Google’s Modular Phones to Go On Sale Next Year WSJ *

Mobiles – How Google Fares in a Peak Smartphone Age WSJ *

Mobiles – The Smartphone Price Gap / statista *



TRADE & TRANSPORTATION

Ship – Panama Canal: New Era in Trade Nears B * *

Ship – Panama Canal, the Reboot / BW *



COMMODITIES

Crops – Tomatoes: Miner Grubs Are Wiping Out Africa Farms B *

Crops – Corn: GMO Stops Brazil Chicken Producers Buying from US B *

Crops – Soybeans: Meat sector’s appetite sparks scramble for meal FT

Crops – Soybeans: Brazilian Shipments Seen Breaking Record B *

Crops – Cocoa: Brexit fears fray nerves of traders FT *

Crops – Coffee: Perks of gourmet boom elude growers FT *

Crops – Palm Oil: Battle spreads beyond ethical investors FT *



ENERGY & ENVIRONMENT

Coal – World Starts to Turn Away as Cheap Oil Gains Market B

Coal – Use plunges as China cuts back and US turns to gas FT *

Coal – NatGas to Lead Power Generation This Year / b *

Coal – Regulators Fear $1b Cleanup Bill NYT



HEALTH

ENDNOTE

Most commonly spoken language in NYC that isn’t English or Spanish bi *



Today’s Issue Cluster: China Economy

China – PBOC shines light on risks in $8t shadow loan market
China – Labor markets flash warning sign as jobs slide
F&B – China’s taste for craft to provide fizz for brewers



MAJOR DATA POINTS

China – May: Trade data stabilizing; imports -0.4%, exports -4.1% / FT *

Japan – Q1: GDP revised up; +1.9% was +1.7% / R

US – Apr: JOLTS hiring slowest in nearly two years; 3.5% from 3.7% / R



MARKETS

China – Most Battered Market Is the Worst Place to Find Bargains B *

China – Boom-Bust in Equity Market Leaves an Economic Hangover B *

China – Forex Reserves Shrink, Renewing Capital-Flight Concerns WSJ *

China – Latest Export: Broken Deals WSJ *

China – Debt (Much) Higher Than Thought, Goldman Says B *

China – Toxic Debt Solution Has One Big Problem B *



ECONOMICS

China – Rails against global ‘hype’ on overcapacity NYT / FT / R / FT

China – It’s Impossible to Talk About Just One ‘Economy’ B * *

China – Rustbelt Revamp Leaves Millions of Jobs at Risk B *

China – Factory to the World Is in a Race to Survive B *

China – EU Firms Find ‘Increasingly Hostile’ Environment WSJ *



POLITICS & FISCAL POLICY

MONETARY POLICY

FINANCE

China – Long Shadow Hangs Over Banks WSJ *

China – PBOC shines light on risks in $8t shadow loan market B *



REAL ESTATE

China – Property Prices Rebound, but Stocks Tell Another Story WSJ *



LABOR & EDUCATION

China – Labor markets flash warning sign as jobs slide B *

China – Hidden Unemployment Rate B *



SERVICES

Media – Chinese investors flood into Hollywood FT * *

Media – China steps up investment in Hollywood FT *

Media – China’s Movies Are a Hit With Investors WSJ *

Media – Studios Back App, Hoping to Fill Cinema Seats WSJ *



MANUFACTURING

F&B – China’s taste for craft to provide fizz for brewers R

F&B – Hops harvest forecast to set a 7-year high FT *

F&B – Upstarts Rise Against Craft-Beer Founding Father Samuel Adams WSJ *



TECH

TRADE & TRANSPORTATION

US/China – Talks Limited by Disagreements WSJ *



COMMODITIES

ENERGY & ENVIRONMENT

HEALTH

ENDNOTE

Population density of China motw *



Today’s Issue Cluster: Nuclear

Commods – Set to break into bull market after four-year rout
World – OECD Blasts the Slipping Into ‘Low-Growth Trap’
Zika – Kill All the Mosquitoes?



MAJOR DATA POINTS

EZ – Q1: Grows Faster on Consumption; +0.6% from +0.5% / B

US – Q1: Productivity contraction less severe; -0.6% was -1.0% / R / WSJ



MARKETS

Commods – Set to break into bull market after four-year rout B *

Commods – Beating global bonds and stocks in 2016 FT * *



ECONOMICS

World – OECD Blasts the Slipping Into ‘Low-Growth Trap’ B *



POLITICS & FISCAL POLICY

MONETARY POLICY

RBA – Aussie economy keeps policy in limbo for now B *



FINANCE

Australia – Macquarie is now NA’s third-largest trader of natgas WSJ *

Australia – The Next Big Housing Short WSJ *



REAL ESTATE

World – Concerns mounting of another price bubble FT *

World – Lopsided Market for Luxury Properties / vc *



LABOR & EDUCATION

SERVICES

MANUFACTURING

TVs – Samsung Adds More Ads WSJ

TVs – Hisense Targets American Market With Mexican Factory WSJ *



TECH

TRADE & TRANSPORTATION

COMMODITIES

ENERGY & ENVIRONMENT

Nuclear – Gains Support as Clean Energy Source NYT

Nuclear – Could Be Best Bet to Combat Climate Change sciam

Nuclear – Finland raises its bet FT *

Nuclear – China to Develop Floating Power Plants NYT

Nuclear – Casualties of the Shale Boom Are Mounting B * *

Nuclear – Output to Decline / b *

Nuclear – German utilities told to pay €23b to clean-up FT

Nuclear – Reactor clean-up weighs on EDF FT / BW / FT * *

Nuclear – Hinkley Point shambles highlights flaws of UK policy E *

Nuclear – Opposition Means Clean Energy Overall is on the Decline epi * *



HEALTH

Zika – Draws US Researchers Into a Race for Understanding WSJ *

Zika – May increase economic risks, industrial costs B * *

Zika – Drugmakers rushed into Ebola work, only to see outbreak wane B

Zika – Trying to get jump on preparations with money in limbo AP / NYT *

Zika – Tropical Mosquitoes Gain Foothold in Northern Europe S *

Zika – First death in France’s Martinique AFP *

Zika – Study Sees Way to Limit Spread of Virus WSJ / WSJ *

Zika – Spread of Virus by Country (1947 to May 2016) maptitude *

Zika – Kill All the Mosquitoes?! Smithsonian *



ENDNOTE

Photos taken by locals and tourists in Sydney motw *



Today’s Issue Cluster: US Labor

US – Three Ominous Charts From the Jobs Report
Sugar – Enticing fuel margins means more ethanol production
Oil – Opec Unity Keeps Price Near $50



MAJOR DATA POINTS

Germany – Apr: Factory orders down; -2.0% from +2.6% / AFP



MARKETS

ECONOMICS

US – Three Ominous Charts From the Jobs Report B * * *

US – Economy Projected to Expand This Year by Least Since 2012 B *

US – Companies Dial Back Investment WSJ

US – State Coincident Indexes Increased in 39 States / cr *



POLITICS & FISCAL POLICY

MONETARY POLICY

Fed – Yellen Suggests Rethink of Interest-Rate Plans NYT / WSJ / FT *

Fed – Jobs Shortfall Makes June Rate Rise Less Likely WSJ / B / WSJ / b *

Fed – Likely to avoid rate hike before Brexit vote R

Fed – Bets on Move This Summer Had Surged WSJ *

Fed – Beige Book: ‘Tight Labor Markets’ Are Pushing Up Wages WSJ / B *

Fed – ‘Financial conditions’ indicator grips watchers FT *



FINANCE

US – Bank Stocks Fall Along With Rate Hopes WSJ / WSJ *

US – Fed Signals Bigger Bank Capital Requirements Looming WSJ

US – Credit Unions, Community Banks Duke It Out Over Planned Rule WSJ *

US – Dimon issues warning over lower-quality car loans FT / WSJ

US – Pension Funds Pile on Risk Just to Get a Reasonable Return WSJ *



REAL ESTATE

US – Home Prices Jump as Supply Pinch Plays Out WSJ * *

US – Breakout for the housing market? r *

US – Rent Hikes Are Finally Slowing—Mostly for the Rich B *



LABOR & EDUCATION

US – Job growth slowest since 2010 FT *

US – Workforce Dropouts Spike WSJ *

US – Wage Growth is on Pace to Break Records this Decade B *

US – Full employment is no barrier to job gains B *

US – Temp-Worker Freeze Bodes Ill WSJ *

US – One Measure of Wage Growth Just Hit a New High B *

US – Winners and Losers of Higher Labor Costs WSJ *

US – Businesses Assess Effects of New Overtime-Pay Rule WSJ *

US – Americans Break Record for Working Past 65 B * * *



SERVICES

MANUFACTURING

TECH

TRADE & TRANSPORTATION

COMMODITIES

Sugar – Enticing fuel margins means more ethanol production B *



ENERGY & ENVIRONMENT

Oil – Opec Unity Keeps Price Near $50 B *

Oil – Saudi: Cuts Oil Prices in Europe WSJ

Oil – Saudi: Breathes life into Opec, for now FT *

Oil – Saudi: Surveys Financial Toolkit as Foreign Reserves Drop B *

Oil – Iran: Opec Rivals Accept Its Rising Output B

Oil – Iran: Supertankers allowing faster export ramp up than expected R

Oil – Nigeria: ‘Delta Avengers’ Sabotage Output WSJ *

Oil – US: Shale Drillers Restart Rigs as Market Improves B *

Oil – US: Drillers Have a Few Sweet Spots Left WSJ / b *



HEALTH

ENDNOTE

Racial dot map of the US cooper *



Today’s Issue Cluster: Trade

Japan – Debt Burden Is Quietly Falling the Most in the World
Crops – Full US Silos Means Dumping Wheat in Parking Lots
Oil – Libya: This ‘wild card’ not coming back soon



MAJOR DATA POINTS

China – May: Caixin Composite PMI Declines; 50.5 from 50.8 / m *

US – May: Job growth slowest since 2010; +38k from +123k / FT / WSJ / NYT / R / B *

US – May: ISM Services Drops; 52.9 from 55.7 / WSJ

US – Apr: Factory Orders Rise; +1.9% from +1.7% / MW

US – Apr: Trade Gap Widened 5.8%; exports +1.5%, imports +2.1% / WSJ



MARKETS

Japan – String of scandals puts investors on edge FT *

Japan – Debt Burden Is Quietly Falling the Most in the World B *



ECONOMICS

Japan – Worries abound about future recession r * *



POLITICS & FISCAL POLICY

Japan – Abe admits deflation fears with sales tax delay FT / WSJ / N / E *

Japan – Abe Plans Up to $90b Stimulus, Nikkei Says B



MONETARY POLICY

FINANCE

Online – PayPal May Be the New Face of Banking WSJ *

Online – China Tech Companies The Future of Banking WSJ *

Online – Unanswered questions FT *



REAL ESTATE

LABOR & EDUCATION

SERVICES

MANUFACTURING

TECH

Tech – China’s Rules Make It Hard for US Firms to Take Control WSJ *

Tech – EU Going After US Giants NYT

Tech – Silicon Valley faces fear and loathing in Europe FT

Tech – EU Warns on Over-Regulation WSJ



TRADE & TRANSPORTATION

US/China – Trade Troubles Grow WSJ *

US/China – Trade Friction Rises Over Chicken WSJ *

TTP – Supporters Pin Hopes on Lame-Duck Vote NYT

TTIP – Europe and US in race to keep deal on track FT

EU/Canada – German activists plan legal action in bid to halt trade deal FT



COMMODITIES

Crops – Full US Silos Means Dumping Wheat in Parking Lots B *

Crops – China plans sale of corn stocks FT *

Crops – Bayer-Monsanto sows seeds of doubt among regulators FT * *



ENERGY & ENVIRONMENT

Oil – Opec resists output cap with oil near $50 FT / B / WSJ *

Oil – Opec’s ‘Fragile Five’ despair at $50 FT *

Oil – Opec doesn’t have a lot of actual spare capacity / b *

Oil – Cost Is as Important as Its Price WSJ *

Oil – The Limits of the Rebound ps *

Oil – Libya: This ‘wild card’ not coming back soon bi *

Oil – Saudi: Affluent Go to Work WSJ *

Oil – Canada: Pollution From Sands Is Substantial, Study Finds NYT

Oil – US refiners seize the moment, sell future output R

Oil – US imports from West Africa highest since 2013 / b *



HEALTH

ENDNOTE

Photos taken by locals and tourists in Chicago motw *