Bz Nwz

Today’s Issue Cluster: Automated Vehicles

MAJOR DATA POINTS

US – Jul: NAHB Builder Confidence Declines; 59 from 60 / cr



MARKETS

ECONOMICS

POLITICS & FISCAL POLICY

Turkey – Set for Market Turmoil as Coup Turns Investors ‘Ice-Cold’ B *

Turkey – Economy needs boring reforms E *



MONETARY POLICY

World – Ultralow Interest Rates Are Here to Stay WSJ *



FINANCE

Italy – A €40b bailout would raise national debt by 2% FT *

Italy – World’s Newest Banking Crisis Revolves Around World’s Oldest Bank WSJ

Italy – Banking crisis is testing new financial regulations WSJ *



REAL ESTATE

World – As Rates Sink, Housing Bubbles Rise WSJ *



LABOR & EDUCATION

SERVICES

Pot – No scientific basis for laws on marijuana and driving AP *

Pot – Why pharma companies are fighting legal marijuana wapo *



MANUFACTURING

TECH

TRADE & TRANSPORTATION

AVs – Tesla Has No Plans to Disable Autopilot WSJ

AVs – Consumer Reports urges Tesla disable auto steering R / B

AVs – US Deepens Investigation of Tesla NYT

AVs – Fatal Crash May Slow Advance WSJ / FT / NYT / R

AVs – Tesla’s Autopilot Vexes Some Drivers, Even Its Fans WSJ *

AVs – The Merging Worlds of Technology and Cars / B *

AVs – Innovation Is Outpacing Insurance NYT

AVs – The Fully Self-Driving Car Is Still Years Away NYT *



COMMODITIES

ENERGY & ENVIRONMENT

Carbon – Markets are collapsing because of competing policies B * *

Carbon – Iceland CO2 Storage Project Locks Away Gas NYT *

Carbon – Global Growth in CO2 Emissions Slowed in 2015 / B *



HEALTH

Dental – A Cavity-Fighting Liquid Lets Kids Avoid Dentists’ Drills NYT

Diseases – Many Are in Decline nyt *



ENDNOTE

Turkish Government Plane Circled First Before Headeding to Istanbul b *



Today’s Issue Cluster: Brexit Update

MAJOR DATA POINTS

China – Q2: GDP steadies; +6.7% from +6.7% / R / FT / WSJ / B *
US – Jun: Industrial Production Rebounds; +0.6% from -0.3% / WSJ / R
US – Jun: Retail Sales Up; +0.6% from +0.2% / WSJ / B / R
US – May: Consumer prices maintain gains; +0.2% from +0.2% / R / B
US – May: Business inventories rise; +0.2% from +0.1% / R
US – Jul: UMich consumer sentiment drops; 89.5 from 93.5 / CNBC



MARKETS

Brexit – Pound: Investors Bet the Slide Isn’t Over WSJ *

Brexit – Yen: Surge Leaves Even Biggest Bulls Too Cautious B *

Brexit – Yuan: Vote Is Helping China Push Down Currency WSJ *



ECONOMICS

Eastern Europe – Most-Vulnerable Nations as Brexit Turmoil Unfolds B * *

Eastern Europe – Currencies Are On the Mend, With One Exception B *



POLITICS & FISCAL POLICY

Brexit – Uncertainty looms despite May’s victory FT *

Brexit – Official reveals early talks on US/UK trade deal FT

Brexit – UK hedge funds could still access EU ‘single market’ WSJ *

Brexit – OECD: UK needs to open borders further B *



MONETARY POLICY

BOE – Holds interest rates despite Brexit concerns FT / WSJ / NYT / B / R *

BOE – Expectations are no hike rates for over 5 years / t *



FINANCE

REAL ESTATE

UK – Brexit Could Help Foreigners Buy Up More of London B *



LABOR & EDUCATION

SERVICES

E-Cigs – May Help More Than They Hurt B

E-Cigs – Users Sue Over Exploding Devices WSJ *



MANUFACTURING

TECH

TRADE & TRANSPORTATION

World – Trade slowdown worse than thought FT *

China – Cargo Volume Growth Hits Seven-Year Low WSJ

US – Exporters’ Gains From Chinese Economic Growth Shrink Further WSJ *



COMMODITIES

ENERGY & ENVIRONMENT

Oil – Refiners: China Flooding Markets With Products WSJ * *

Oil – Refiners: Recovery faces new downstream threat FT *

Oil – Refiners: Pay price for making too much gasoline r *



HEALTH

Pharma – Pricing Power Remains Strong WSJ *

Pharma – Biosimilars set to compete with two big franchises FT * *



ENDNOTE

Fertility Rate in Europe redit *



Today’s Issue Cluster: US Economy & Real Estate

MAJOR DATA POINTS

US – Jun: Producer Prices Climb 0.5%, core +0.4% / WSJ

US – Week: Jobless Claims Hold Steady; 254k / WSJ / R



MARKETS

ECONOMICS

US – Are vehicle sales warning of a slowdown? ft * * *

US – Rebounding Manufacturing Bracing for Post-Brexit Storm B *

US – Spending Seen Solid Through Latest Overseas Turmoil B *

US – Seasonal Fluctuations Vex Statisticians WSJ *

US – Soaring Child-Care Costs Squeeze Families WSJ *

US – Inversions create 26% growth for Ireland NYT / B / FT *



POLITICS & FISCAL POLICY

MONETARY POLICY

Fed – Brexit Weighs on Outlook in Some Regions WSJ / R

Fed – December Rate Hike Odds Approaching Pre-Brexit Levels / b *



FINANCE

US – Banks Keep Making More Jumbo Mortgage Loans WSJ *



REAL ESTATE

US – Apartment Rent Growth Slowing WSJ

US – Apartment Developers Press Pause B *

US – Reis Apartment Vacancy Rate Unchanged / cr *

US – Mall Owners Push Out Department Stores WSJ *

US – Reis Regional Mall Vacancy Rate Increased R / cr *

US – Banks raise regulator fears over property loan bubble FT

US – Reis Office Vacancy Rate Declined / cr *



LABOR & EDUCATION

SERVICES

MANUFACTURING

TECH

Silicon Valley – Startups Try to Spread Out WSJ *

Silicon Valley – SF Considers Tax on Tech Companies NYT



TRADE & TRANSPORTATION

Rail – Buffett’s Favorite Indicator Misses B *

Rail – CSX Revenue Falls 12% as Coal Shipments Continue to Slip WSJ

Rail – Expansion Projects Spark Tensions WSJ

Rail – Executive Offers $8b Remedy for Midwest Logjam WSJ *

Rail – LA-LV high-speed rail ends deal with China group R / WSJ



COMMODITIES

ENERGY & ENVIRONMENT

Shale – US reserves become world’s lowest-cost oil FT / WSJ *

Shale – Most future oil projected to come from tight deposits b *

Shale – Authors retract study that found pollution near fracking sites RW

Shale – Fracking threatens UK’s carbon targets, says report FT



HEALTH

ENDNOTE

Silicon Valley’s Largest Companies reddit *



Today’s Issue Cluster: Planes

MAJOR DATA POINTS

EZ – May: Industrial production slumps; -1.2%, +0.5% yr / WSJ / eu

US – Jun: Import Prices Rise on Higher Oil; +0.2%, -4.8% yr / WSJ



MARKETS

Venezuela – Refuses to Default B *

Puerto Rico – Plotting Bond-Market Return After Its Record Default B *

Mexico – No end of reasons to whack peso FT *



ECONOMICS

Cuba – Venezuela’s energy woes spread to its closest ally R / NYT *

Brazil – Bean Shortage Adds Insult to Injury WSJ *

Chile – Rebel groups threaten logging industry R *

LatAm – Why the region needs to save more, and how it can do so E *



POLITICS & FISCAL POLICY

LatAm – Under new management FT * * *



MONETARY POLICY

Mexico – Bank chief faces Brexit fallout FT *



FINANCE

REAL ESTATE

LABOR & EDUCATION

Puerto Rico – Drastic Population Loss Deepens Its Economic Crisis WSJ *



SERVICES

MANUFACTURING

Planes – Market: Farnborough faces fewer jet orders WSJ / R *

Planes – Market: Airbus, Boeing Raise Outlook For Deliveries WSJ / R / B *

Planes – Market: Boeing Says Large Jet Demand Sluggish WSJ

Planes – Market: Makers Automate to Meet Surging Demand WSJ

Planes – Airbus: Sees A400M, and possible A350, charge R / WSJ

Planes – Airbus: Fuels investor concern on slowdown FT / WSJ / R

Planes – A380: Airbus slashes production FT / WSJ / R / NYT / B *

Planes – A380: Airbus Is Running Out of Buyers BW / R *

Planes – 747: Russian Firm Said Near $4b Deal to Save Model B *

Planes – 767: Boeing Advancing New Midsize Jetliner WSJ / FT / B * *

Planes – Business: Makers Confront Weak Sales WSJ



TECH

TRADE & TRANSPORTATION

COMMODITIES

ENERGY & ENVIRONMENT

NatGas – US prices jump a third in June FT *

NatGas – Hinges on Stanching Methane Leaks NYT

NatGas – Japan LNG Giant Expands Europe Links B *



HEALTH

ENDNOTE

The results of the 2008 Democratic primaries reddit *



Today’s Issue Cluster: Oil

MAJOR DATA POINTS

US – May: JOLTS Job Openings decreased; 5.5m from 5.8m / cr

US – May: Wholesale inventories rise slightly; +0.1% from +0.7% / R

US – Jun: NFIB Small Business Index Increased; 94.5 from 93.8 / cr



MARKETS

ECONOMICS

POLITICS & FISCAL POLICY

MONETARY POLICY

NIRP – Dragging Down Yields Everywhere WSJ *

NIRP – Negative Rates Alone Struggle to Lift Growth WSJ *



FINANCE

REAL ESTATE

LABOR & EDUCATION

SERVICES

Cigs – China tobacco sales fall for first time in two decades FT *

Cigs – China tries to curb tobacco, which it also peddles E *

Cigs – The global state of smoking in 5 charts / wb *



MANUFACTURING

TECH

TRADE & TRANSPORTATION

Delivery – Drone Regulators Struggle to Keep Up WSJ *

Delivery – Amazon isn’t planning to supplant FedEx or UPS anytime soon WSJ

Delivery – Same-Day Service Deliv to Get Funding Boost From UPS WSJ



COMMODITIES

ENERGY & ENVIRONMENT

Oil – US: Falling Output Not Enticing Enough for Wary Investors B / FT *

Oil – US: Lost Generation of Workers Leaves Few Options B * *

Oil – US: Revving Up Oil Fields Won’t Be So Easily Done WSJ *

Oil – US: Underwater Well Bolts Are Failing, Causing Alarm WSJ *

Oil – US: Production falls below 9mbpd / t *

Oil – US: Trader Profits From Growing Exports B *

Oil – US: Rally Threatened as Gasoline Swamps Demand B *

Oil – US: Refiner margins tank R / b *

Oil – US: Producers Threatening to Boost Output Yet Again B * *

Oil – US: Shale’s Achilles heel shows signs of mending R / R * *

Oil – US: Exports Rise to Record / b *

Oil – US: Reserves surpass those of Saudi Arabia and Russia FT / B *

Oil – Market: Return of Contango Indicates Bumpy Recovery B *

Oil – Market: Brexit May Stem Recovery, Banks Say WSJ *

Oil – Market: IEA warns of reliance on MENA supplies FT

Oil – Market: Top Trader Says Prices Won’t Rise Much Further B *

Oil – Market: $45b of New Projects Signals Spending Revival B *

Oil – Canada: Sands Industry Girds for Leaner Times WSJ *

Oil – Libya: Merger removes obstacle for government unification FT / B *

Oil – Kazakhstan: Expansion could add a Libya of new supply B / WSJ / FT / NYT *

Oil – Nigeria: Gains Lead Opec Production Rise B

Oil – India: Cutting Deals Worldwide BW

Oil – China: Almost Done Amassing Crude B *

Oil – China: Robust imports mask changing fuel dynamics R *



HEALTH

ENDNOTE

US presidential election results by party metrocosm *o
*



Today’s Issue Cluster: US Labor

MAJOR DATA POINTS

China – Jun: Consumer Inflation Softens; +1.9% from +2.0% / WSJ



MARKETS

Pound – For exporters, weakness may not offset turbulence R *

Pound – Fall has led to fears over a drop in demand and profits FT *

Pound – Eight-Year Cycle B *



ECONOMICS

World – WTO’s New Global Trade Gauge Points Weaker WSJ

World – Drifting Economy Skirts Worst But Still Lags B *



POLITICS & FISCAL POLICY

Japan – Abe wins sweeping victory FT / WSJ / E *



MONETARY POLICY

BOJ – Paints Itself Into a Negative Rate Corner WSJ *



FINANCE

REAL ESTATE

LABOR & EDUCATION

US – Job Growth Rebound Calms Fears of Economic Swoon WSJ *

US – Labor market bounces back FT * *

US – Job Market Solid, Yet Cooling B *

US – Jobs Number to Reassure Fed 2016 Rate Hike Is Still Possible B *

US – Low-skill males drop out of jobs market FT *

US – NY two-tier testing ground in minimum wage debate R *

US – Cities may regret raising minimum wages dramatically E *

US – Push for higher wages squeezes profits FT * *

US – Supreme Court deals immigration blow to Obama FT *



SERVICES

MANUFACTURING

TECH

TRADE & TRANSPORTATION

COMMODITIES

Crops – World grain glut set to enter fourth year FT

Crops – China corn shortages loom despite bulging silos FT

Crops – Prospect of bumper US harvest hurts grain bulls FT / B *

Crops – Cocoa surge set to hit chocolate lovers FT *

Crops – Coffee Consumption at Record B *

Crops – Coffee Farmers Who Depart From Guidelines Risk Arrest in Uganda WSJ *



ENERGY & ENVIRONMENT

Alt – US: ‘At a critical turning point’ wapo

Alt – Germany: Legal shake-up threatens ‘revolution’ FT *

Alt – Market: Purchasers include many large tech firms B * *

Alt – Solar: Large-scale leaving rooftop in the dust R

Alt – Geothermal: Could account for 10% of Japan’s capacity B *



HEALTH

ENDNOTE

Moscow Metro tunnel depth map blog *



Today’s Issue Cluster: Mining

MAJOR DATA POINTS

Germany – May: Trade surplus contracts -7.9%; exports -1.8%, imports -0.1% / AFP

US – Jun: Payrolls rebound; +287k from +11k / R / FT / WSJ / B / NYT



MARKETS

Asia – China Slowdown Hits Nearby Economies Hardest B * * *

Asia – Startups Hit by Venture-Capital Slowdown WSJ *

Asia – Japan Shifts Investment From China to Asean B *

Asia – Growing wealth spawns new health challenges N * *



ECONOMICS

Philippines – Fun and games are serious business for outsourcing industry N *

Philippines – For Filipinos Abroad, Home Is Calling WSJ *

Philippines – Companies start to spread their wings FT * *

Vietnam – Japan looks south as China labor costs soar FT

Vietnam – Economy Is an EM Standout B *

Vietnam – New leaders grapple with debt FT *

Thailand – Sagging economy is adding to discontent with the junta N *

Singapore – Leads HK in race to be Asia’s fintech hub R

Singapore – No Longer Shoppers’ Paradise B * *

Indonesia – Faces coal bust R *

Indonesia – Widodo gets second wind for reforms N * *



POLITICS & FISCAL POLICY

Asia – Vested interests are taking the shine off democracy N * *

Philippines – As Duterte Takes Office, Filipinos Divided on ‘Dirty Harry’ WSJ *

Philippines – Duterte Pushes Regional Autonomy to Quell Insurgencies WSJ *

Philippines – Fist of iron E * *

Philippines – Signs point to continued growth under Duterte N *



MONETARY POLICY

FINANCE

REAL ESTATE

LABOR & EDUCATION

SERVICES

MANUFACTURING

Textiles – Terrorism threatens ‘world’s sewing factory’ N *

Textiles – Fast-Fashion Castoffs Fuel Global Recycling Network WSJ *



TECH

Games – Tencent Begins Distributing Supercell’s ‘Clash Royale’ in China WSJ *

Games – Console makers defy predictions of doom FT *



TRADE & TRANSPORTATION

COMMODITIES

Gold – Miners rise on investor search for haven assets FT

Gold – Global Rise in Investor Angst B *

Silver – Sets the pace as precious metals surge after Brexit FT *

Silver – Highest level in two years FT / WSJ *

Silver – Miner Sees Price Surging Ninefold on Gadgets B * *

Iron – Big China steelmakers eye merger FT *

Diamonds – Industry in the rough E *



ENERGY & ENVIRONMENT

HEALTH

ENDNOTE

Asian Population by State blog *



Today’s Issue Cluster: HigherEd

MAJOR DATA POINTS

Germany – May: Output Unexpectedly Drops; -1.3% from +0.5% / B

US – Jun: ADP Private Payrolls Rise; +172K from +168K / WSJ / R

US – Week: Jobless Claims Fell; -16k to 254k / WSJ / R / B



MARKETS

EMs – Focus on dollar amid Brexit turmoil FT *

EMs – Post-Brexit Bet WSJ *

EMs – Global Manufacturing PMI Stays Negative / t *



ECONOMICS

Russia – Savior From Oil’s Drop Is Now Snuffing Out Recovery B *

Russia – ‘Can Quadruple Its Domestic Debt’ B *

Russia – Resurrecting ties with Southeast Asia WSJ *

Russia – Merkel says Moscow damaging Europe’s security FT *



POLITICS & FISCAL POLICY

Italy – Bonds Brace For What Could be the Next Big Risk B *

Italy – Populist Politicians Take On Massive Debt Pile BW *

Italeave – Romes’s Turn to Get Worried B / bi * *

Italeave – Five Star now top party, wants referendum on euro FT / FT



MONETARY POLICY

FINANCE

Italy – Plan for Banks Could Roil Europe NYT / FT

World – Losses Near Half a Trillion Dollars WSJ *



REAL ESTATE

LABOR & EDUCATION

HigherEd – College-Educated Now Dominate the Labor Market wsj *

HigherEd – College Loan Glut Worries Policy Makers WSJ *

HigherEd – Student Debt to Set Another Record, But the Picture Isn’t All Bad wsj

HigherEd – Many Chinese Students Come to the US WSJ *

HigherEd – US Bounty of Foreign Students Thins WSJ *

HigherEd – Foreign Students Seen Cheating More Than Domestic Ones WSJ *

HigherEd – Two-thirds of UK students ‘will never pay off debt’ FT *



SERVICES

MANUFACTURING

Trucks – Orders Fall to Lowest Since 2010 WSJ *

RVs – Thor, Jayco Trailers, Winnebago Turnaround Keys IBD



TECH

Telecoms – Verizon to Raise Monthly Wireless Plans WSJ *

Telecoms – Altice’s Big US Cable Ambitions Begin With Austerity WSJ *



TRADE & TRANSPORTATION

Air – US Lines Dive Worst in Five Years B *

Air – LatAm lines losing a lot of money E *



COMMODITIES

Salmon – Toxic algae drive up insurance costs for Chile’s salmon farms FT * *

Salmon – Biggest Producer Wants to Farm Fish Inside Cargo Ship B *



ENERGY & ENVIRONMENT

HEALTH

ENDNOTE

2nd, 3rd, 4th most common language by US state reddit * * *



Today’s Issue Cluster: Brexit Fallout

MAJOR DATA POINTS

Germany – May: Factory Orders Failed to Rise; flat from -1.9% / B

US – Jun: Trade Gap Widened 10.2%; exports -0.2%, imports +1.6% / WSJ / R

US – Jun: ISM Services Jumps; 56.5 from 52.9 / B



MARKETS

Pound – Sinks to new 31-year low WSJ *



ECONOMICS

EU – Companies a fading force in global business E *

EU – Greece’s depression is forcing dis-saving on an epic scale FT *



POLITICS & FISCAL POLICY

Brexit – May takes strong lead in race to be next UK PM FT / WSJ *

Brexit – Businesses prepare legal challenge FT

Brexit – Parties plunge into crises of leadership E / FT *

Brexit – Vote Rattles Companies Across Europe WSJ

Brexit – UK companies expected to cut dividends in wake of vote FT *

Brexit – Scotland wants to stay in the EU FT *

Brexit – Touches a nerve in France FT *

Brexit – Hollande’s approval rating lowest ever / TNS Sofres * *

Brexit – Will cause soul searching across the continent E *

Brexit – How vulnerable is the US to fallout? FT *

Brexit – What it means for Asian integration N *



MONETARY POLICY

BOE – Hints at Summer Rate Cut WSJ / FT / FT *

ECB – Equities aren’t cheering balance sheet record / t *

ECB – Under pressure as negative yields advance / b *

ECB – Quietly Tweaking QE B * *



FINANCE

UK – BOE tells banks to cut buffer to boost lending FT / WSJ / R *

EU – Brexit and the City: Europe plots a bank heist FT / NYT *

EU – Berlin bids to replace London as fintech capital FT *

EU – Brexit Puts Financial Clearing Work Up for Grabs B *

EU – Battle lines drawn over London’s role in euro clearing FT * *

EU – Bad Debt Piled in Italian Banks Looms as Next Crisis WSJ *

EU – Italy to defy Brussels and bail out troubled banks FT / FT *



REAL ESTATE

UK – Aviva second property fund to halt redemptions FT / WSJ / FT * *

UK – Property funds better placed to weather storm than in 2007 FT * *

UK – London Office Landlords Look Oversold WSJ *

UK – Vote Casts Shadow Over Banks’ Construction Boom in London WSJ *

Ireland – Will Real-Estate Rush Fizzle? WSJ / WSJ / WSJ / WSJ

Spain – May Shatter British Dream of a Vacation Home B *

US – Brexit to take toll on FL vacation homes R *



LABOR & EDUCATION

EU – Germany Puts Migration-Related Costs at Over $86b WSJ

EU – Spain Runs Out of Workers With 5m Unemployed B *

EU – Population Shifts / Atlantic *



SERVICES

MANUFACTURING

TECH

TRADE & TRANSPORTATION

EU/Canada – Juncker to give way on trade plan FT / WSJ / FT *



COMMODITIES

ENERGY & ENVIRONMENT

HEALTH

ENDNOTE

Photos taken by locals and tourists in Paris motw *



Today’s Issue Cluster: Autos

MAJOR DATA POINTS

China – Jun: Composite PMI slows; 50.3 from 50.5 / m *

Germany – Jun: PMI steady; 54.4 from 54.5 / m

US – May: Factory orders fall; -1.0% from +1.8% / R



MARKETS

ECONOMICS

Australia – To reach milestone of a quarter-century of growth FT * *

Australia – Election Losers Could Include Triple-A Rating WSJ *

Australia – Voters Split Over Economy WSJ *



POLITICS & FISCAL POLICY

Australia – Poll deadlock FT / WSJ *

Australia – Election Winner to Face Restive Senate WSJ *

Australia – Election battle / FT * *



MONETARY POLICY

FINANCE

REAL ESTATE

LABOR & EDUCATION

SERVICES

Media – Why Apple May Roll Up Tidal WSJ / WSJ *

Media – Spotify accuses Apple of using app rules as ‘weapons’ FT

Media – Industry Out of Harmony With YouTube WSJ / FT *

Media – The State of Music Streaming / statista *



MANUFACTURING

Autos – US: Industry on Watch After Sales Mixed B * *

Autos – US: The new vehicle mix towards trucks NYT / b *

Autos – US: Manufacturers Plead for Single-Market Access WSJ / FT *

Autos – China: Sales Growth Reaches Five-Month High WSJ

Autos – China: ‘Copycat’ claim hit by Beijing’s patent cancellation FT *

Autos – Diesel: European sales hit by VW scandal FT *

Autos – VW: Agrees $14.7b deal over rigged cars FT / WSJ / NYT / B / FT * *

Autos – VW: Set to unveil new strategy following scandal FT *

Autos – VW: To tackle its ballooning costs FT *

Autos – GM: US Share Shrinks Amid Truck Boom WSJ *

Autos – Cadillac: Bets on Virtual Dealerships WSJ *

Autos – Volvo: Remaking the marque FT *



TECH

Chips – Silicon Rival Gallium Nitride Stalks Markets IBD

Chips – Japan: from technical dominance to decline N *

Chips – How Intel Makes a Microprocessor B *



TRADE & TRANSPORTATION

COMMODITIES

ENERGY & ENVIRONMENT

Propane – Shale Boom’s New Winner WSJ *

Ethanol – American Drivers Are Fueling a Wave of Deals B *



HEALTH

ENDNOTE

What Australians Call Deep Fried Potato Snacks lingo *