23 March 2015



Today’s Issue Cluster: Garments

EU – Hotel chains aim small to net millennials
Drones – FAA plans new steps to speed up commercial use
Nuclear – German taxpayers at risk of big exit bill


MAJOR DATA POINTS

EZ – Mar: Consumer Confidence Strongest Since 2007; -3.7 from -6.7 / WSJ *

US – Feb: Existing home sales rise marginally; +1.2% / R / AP *


MARKETS

Currencies – Torrent of Cash Exits Eurozone WSJ / WSJ
Central Banks are shedding their euros… *
…and the share of total reserves in euros has fallen back from its peak of nearly 28% in 2009… *
…meanwhile, cash is flowing out of eurozone debt faster than it is flowing into stocks. *

Currencies – Stronger dollar weighs on US investment sentiment FT

Currencies – Strong Dollar Hammers Profits at US Multinationals WSJ * *

Currencies – Transatlantic divergence FT * * *


ECONOMICS

UK – Exchange rates put squeeze on business FT *

Spain – Low oil prices and weak euro boost recovery FT * *


POLITICS & FISCAL POLICY

Spain – Socialists Win in Spain’s Andalusia NYT / WSJ

Spain – New Leftist Party Faces First Election WSJ / FT * *

France – Socialists come third in local elections FT / NYT / WSJ

France – Euroskeptic National Front Party Broadens Support WSJ *


MONETARY POLICY

Fed – Low Inflation Argues for Patience WSJ *

Fed – CPI vs. PCE: Untangling Inflation Gauges WSJ *


FINANCE

EU – Bad Banks Cash In On Investor Demand WSJ


REAL ESTATE

EU – Hotel chains aim small to net millennials R *


LABOR & EDUCATION

EU – Eurozone Wage Growth Slows WSJ / b *

EU – Boasts debunked as France gets last laugh over UK on productivity FT * * * *


SERVICES

Drones – FAA plans new steps to speed up commercial use R / NYT

Drones – Technical Hurdles Delay Deliveries WSJ / R *


MANUFACTURING

Garments – Feud threatens world’s factory N

Garments – Alliance Sets Plan to Finance Bangladesh Factory Upgrades WSJ

Garments – Vietnam emerges as next big factory floor N

Garments – Cambodia: As worker wages rise, companies seek cheaper pastures N *


TECH

PCs – Long-term shipments seen declining worse than expected IBD *

PCs – Apple Sneaks Up BW *


TRADE & TRANSPORTATION

AVs – Google’s Self-Driving Cars Hit Regulatory Traffic WSJ

AVs – Musk tempers autonomous driving claims FT / NYT

AVs – As Driverless Car Rivalry Emerges, Mobileye Bulls Counter B

AVs – Self-Braking Cars Are Safer, but Do They Boost MPG? WSJ *


COMMODITIES

Cocoa – Potential for Bumper Crop Keeps Pressure on WSJ

Tea – Young Americans shift FT *

Sugar – Glut, Sliding Real, Hurt Asian Producers WSJ *


ENERGY & ENVIRONMENT

Nuclear – German taxpayers at risk of big exit bill R *

Nuclear – Germany’s Costs Trigger Fears WSJ *


HEALTH

Pharma – Apple and Google stake a claim FT *

Pharma – Unfamiliar Biosimilar Threat WSJ *

Pharma – Sector hails ‘sea change’ in heart disease treatment FT / NYT / WSJ


ENDNOTE

Colors of the most powerful left-wing parties of Europe reddit *


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