3 August 2015



Today’s Issue Cluster: Eastern Europe

World – Numbers add up to HSBC leaving London
Pot – Vape shops eye new marijuana market
Olive Oil – Helps explain Greece’s problems


MAJOR DATA POINTS

China – Jul: Official Manufacturing Activity Slips; 50.0 from 50.2 / WSJ / AP / B

China – Jul: Markit Manufacturing Hits Two-Year Low; 47.8 from 49.4 / WSJ

EZ – Jul: PMI Survey Shows Collapse in Greek Manufacturing Output; 30.2 / WSJ *

US – Jul: ISM manufacturing index slipped; 52.7 from 53.5 / R / AP / B *

US – Jul: Markit factory activity rises slightly; 53.8 from 53.6 / R

US – Jun: Consumer spending weakest in 4 months; +0.2% from +0.7% / AP / R / WSJ

US – Jun: Construction spending gain smallest in five months; +0.1% from +1.8% / R / AP


MARKETS

EMs – Malaysia stocks and ringgit lead rout FT *

EMs – Outflows from emerging market funds accelerate FT *

EMs – Developed market stocks no longer the path to growth FT * * *

EMs – Rapids v calm US waters FT *


ECONOMICS

World – Weak China data hit commodity currencies FT *

World – Falling commodity prices and EM equities e *


POLITICS & FISCAL POLICY

Russia – Georgia Dials Down Conflict WSJ

Russia – Demoralised Ukraine troops start to lose faith in Kiev FT / FT

Russia – Ends Foreign Currency Purchases in Boost for Easing B / WSJ *

Russia – Sanctions new normal proves workable for business FT / R / FT

Russia – The $42b Debt Trap That Putin Has Three Years to Escape B *

Ukraine – Showdown with creditors FT / FT * * *

Ukraine – In graphics e * * * *

E.Europe – Forecast GDP for 2015 / ft *


MONETARY POLICY

CBR – Russia Cuts Rates a Fifth Time FT / WSJ / FT / AP / B * *


FINANCE

World – Banks May Lose Their Asia Stock-Trading Lift WSJ *

World – Numbers add up to HSBC leaving London r *

World – Reality bites for European banks FT

World – US Banks Take Lead WSJ *


REAL ESTATE



LABOR & EDUCATION



SERVICES

Pot – Banking for Industry Hits a Roadblock NYT

Pot – Vape shops eye new marijuana market R

Pot – Race on to develop ‘pot breathalyzer’ R


MANUFACTURING



TECH



TRADE & TRANSPORTATION

TPP – Talks Collapse WSJ / FT / NYT / AP / N / N *

TPP – Dairy stalling deal WSJ / G&M / ABC

TPP – Patent Protection for Drugs Puts Pressure on US NYT

TPP – Negotiators Reach Environmental Accord NYT


COMMODITIES

Olive Oil – Helps explain Greece’s problems wapo

Olive Oil – Dries up e *


ENERGY & ENVIRONMENT

Carbon – Obama plan pushes pricing FT / WSJ / AP / NYT / FT / WSJ / WaPo * *

Carbon – New Regulations to Challenge Industry WSJ *

Carbon – EU Announces Trading Revamp WSJ


HEALTH

Ebola – Vaccine success holds out hope R / AP / FT / WSJ

MERS – SK Outbreak Is Over, Government Says WSJ *

Listeria – Ice-Cream Recall Sends Chill Through Food Industry WSJ *

Legionnaires – Disease Outbreak Hits South Bronx WSJ / NYT

CRE – Superbug was spreading at UCLA LAT *


ENDNOTE

The World’s Most Valuable Sports Teams dv *


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