24 February 2015



Today’s Issue Cluster: Brazil

China – Slide in land under new development
Platinum – Recycling, war on diesel threaten producers’ price hopes
Power – UK now imports half its energy, most in history


MAJOR DATA POINTS

EU – Jan: Deflation Threat Grows; -0.5% / WSJ *

Germany – Q4: Pickup in domestic demand shows rebalancing; +0.7% / WSJ / B *

US – Dec: Case-Shiller home prices rise; +4.5% from +4.3% / R / WSJ / B *

US – Feb: ConfBd consumer confidence pulls back; 96.4 from 103.8 / R *

US – Feb: Markit services sector activity jumps; 57.0 from 54.2 / R *


MARKETS



ECONOMICS

Brazil – Experts Fear a Two-Year Downturn WSJ

Brazil – As states tighten belts, edging closer to recession R * *

Brazil – Inflation rate gathers pace FT *

Brazil – BNDES: Lender of first resort for tycoons FT * * *

Brazil – Rich, Wary of Government, Look Abroad WSJ *

Brazil – Drought raises fears of energy crisis FT * *

Argentina – The strange death of Alberto Nisman FT / NYT / B / R * * *

Venezuela – The revolution at bay E / B / FT / WSJ / R / AP * *


POLITICS & FISCAL POLICY



MONETARY POLICY



FINANCE

China – Sliced and diced loans take off FT * *

China – Bank-free shopping spree FT * *

China – Loan growth hits new low in January b *


REAL ESTATE

China – New Home Prices Fall in January WSJ *

China – Slide in land under new development FT

China – Kaisa woes a reality check for investors FT / WSJ / B *


SERVICES

Lux – Cars Imprint Their Brands on Goods From Cologne to Clothing NYT

Lux – China’s changing tastes mean mixed fortunes for brands FT * * * *


MANUFACTURING



TECH

Cybersecurity – Risk requires $1b of insurance cover, companies warned FT / R

Cybersecurity – Using Attacks To Study An Intelligent Adversary IBD

Cybersecurity – White House Aims to Harden Defense FT / WSJ / NYT *


TRADE & TRANSPORTATION



COMMODITIES

Platinum – Recycling, war on diesel threaten producers’ price hopes R *

Copper – Tells Two Stories on Global Economy WSJ / WSJ *

Gold – Tarnished value FT *

Aluminum – ‘Restarts not just a matter of price’ r *

Metals – Big Banks Face Scrutiny Over Pricing WSJ

Metals – Hard up miners turn to Asian contractors to help fund projects R *


ENERGY & ENVIRONMENT

Power – Solar eclipse puts Europe’s power supplies at risk FT

Power – UK now imports half its energy, most in history q * *

Power – US utilities turn down as summer rate rise expectations grow FT

Power – US Energy-Pinching Poses Threat to Power Grid WSJ *


LABOR & EDUCATION

Pensions – Longer Lives Hit Companies WSJ *

Pensions – Rising Life Spans Spell Pain WSJ *

Pensions – Funds driven to take higher risks FT * *


HEALTH



ENDNOTE

Spanish speakers in the Americas motw *


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