Bz Nwz

Today’s Issue Cluster: Oil

MAJOR DATA POINTS

EZ – Jul: Markit PMI indicates resilience; 53.1 from 52.9 / FT

Germany – Jul: Markit PMI at 27-Month High; 56.8 from 55.7 / B



MARKETS

EMs – Have Wind at Their Backs WSJ *

EMs – Private Debt Piles Loom WSJ *



ECONOMICS

HK – One country, two economies FT * *

HK – Big Chinese Developers Push Into Market WSJ



POLITICS & FISCAL POLICY

Taiwan – Faces obstacles in search for ties beyond China B * *



MONETARY POLICY

FINANCE

Turkey – Foreign banks stand to lose from coup fallout R *



REAL ESTATE

LABOR & EDUCATION

SERVICES

MANUFACTURING

F&B – Sparkling Ice Floats Higher as Other Diet Sodas Go Flat WSJ *

F&B – Big Proposed Soda Tax Stirs Debate In Philadelphia WSJ *



TECH

TRADE & TRANSPORTATION

COMMODITIES

Water – Nestlé Bottles in the Arizona Desert B *



ENERGY & ENVIRONMENT

Oil – Nigeria: Militants strike at heart of industry FT *

Oil – Nigeria: Pipeline Avengers Crippling Economy B *

Oil – Saudi Arabia: Turns to Stockpiles WSJ *

Oil – Libya: Failing to ramp up exports bi * *

Oil – Libya: To Resume Exports From Biggest Ports B *

Oil – UK: North Sea Field Shutdowns to Climb as Brexit Deepens Gloom B *

Oil – US: Shale Output to Fall 2.1% in August / b *

Oil – US: The Fracklog Isn’t Growing Anymore And That’s Bad News for Bulls B *

Oil – US: More pain seen as product glut adds to gloom R

Oil – US: CEOs Still Paid for Growth Despite Crude Glut, Moody’s Says B *

Oil – US: Independent producers seek limit on crude imports FT *

Oil – US: Halliburton predicts turnround FT *

Oil – Shale: Depleted crews, idled rigs lie in path to revival R *

Oil – Majors: Next Week Is as Good as It Gets B * *

Oil – Market: Producers Prepare for H2 Slump as Rally Sputters B *

Oil – Market: Opec Sees Slide in Non-Opec Supply WSJ *

Oil – Market: Opec Winning the Market Share War WSJ *

Oil – Market: Still oversupplied, now growth stuttering R

Oil – Market: IEA says huge stocks overhang threatens price recovery R / b *

Oil – Market: IEA sees record Middle East supply B *

Oil – Market: Traders Hoarding Most Oil Since 2009 Amass North Sea Fleet B *

Oil – Market: Buying Time With Stock Sales as Bust Enters Third Year B *

Oil – India: Demand still driven by mopeds R / FT * * *



HEALTH

ENDNOTE

Consolidation in Consumer Brands vc *



Today’s Issue Cluster: Mining

MAJOR DATA POINTS

US – Jun: NAR home resales at 9-year high; +1.1%, +3.0% yr / R

US – May: FHFA Home Prices Rose; +0.2%, 5.6% yr / B

US – Jun: ConfBd leading indicators rebound; +0.3% from -0.2% / MW

US – Week: Jobless Claims Edged Lower; -1k to 253k / WSJ / R / B



MARKETS

Euro – Trades Close to Post-Brexit Low on ECB Stimulus Speculation B *



ECONOMICS

POLITICS & FISCAL POLICY

EU – Spain: Slapdown Shows Timing Matters When Breaking Rules B *



MONETARY POLICY

ECB – Open to Further Stimulus in September WSJ / B / FT / R / NYT *

ECB – Faces QE dilemma after Brexit vote FT *

ECB – German managers think Draghi is “not doing a good job” b *

ECB – Precision Stimulus Can’t Duck Doubt on How Economy Works B *



FINANCE

REAL ESTATE

EU – Spain: Foreign cash jolts home building back to life R *



LABOR & EDUCATION

EU – Germany: Survey reveals top companies employ just 54 refugees FT



SERVICES

MANUFACTURING

TECH

TRADE & TRANSPORTATION

COMMODITIES

Metals – US Brings WTO Challenge Against China WSJ / R

Metals – China takes center-stage in trading r *

Rare Earths – Honda’s Hybrid Motors Sidestep China Supply B

Rare Earths – Pay the price of previous excess r *

Gold – Miners More Fit, Flying High IBD

Gold – Run Could Hit Roadblocks WSJ *

Gold – Investors Pull Most Money Out of SPDR in Eight Months B *

Silver – Glut Swamps India as Buying Frenzy Passes Country By B *

Platinum – South Africa calls for quick wage deal R

Zinc – Isn’t Cure-All for This Miner’s Health WSJ

Zinc – Starts to bubble as investors pile in r *

Copper – Mounting stocks could weigh on price FT *

Iron – BHP Billiton’s Production Shows No Signs of Slowing WSJ

Iron – China Steel Pours Out Faster Than Ever WSJ *

Lithium – Chile’s buried treasure FT / N *

Uranium – Prices hit 11-year low FT

Potash – China ends market nerves over annual contract FT / FT * *



ENERGY & ENVIRONMENT

HEALTH

Insurance – Justice Dept. Will Seek to Block 2 Mergers NYT

Insurance – Failure of 2 Mergers Is Unlikely to Stop the Efforts NYT



ENDNOTE

European language distribution pre-WWI motw *



Today’s Issue Cluster: Coal

MAJOR DATA POINTS

EU – Apr: Current account surplus down; +€10.5b, +€10.6 services / eu



MARKETS

Bitcoin – BOE economists advocate own digital currency WSJ

Bitcoin – ‘Miners’ face fight for survival as new supply halves R / WSJ



ECONOMICS

Brexit – Ireland Hits Alarm in Biggest Foreign Crisis in 50 Years B * *

Brexit – Ireland Pins Growth Plan on US Companies WSJ *



POLITICS & FISCAL POLICY

MONETARY POLICY

Fed – Traders reviving rate-rise bets put a floor under the dollar B *

Fed – Index Shows First Tightening Bias Since 2007 / b *

Fed – ‘Why they Shouldn’t Raise Interest Rates’ b *

Fed – Yellen Rated ‘Most Useful to Listen to’ in Survey / WSJ *



FINANCE

REAL ESTATE

LABOR & EDUCATION

HigherEd – Student Debt Helps US Economy, White House Says wsj

HigherEd – Boom at UK universities sees construction rise 43% FT



SERVICES

Ads – Digital advertising: Brands versus bots FT * *

Ads – Do Facebook and Google have too much muscle? FT *



MANUFACTURING

TECH

TRADE & TRANSPORTATION

COMMODITIES

ENERGY & ENVIRONMENT

Coal – Price rises to highest level in 10 months FT

Coal – Greenpeace says China overbuilding FT / NYT / NYT

Coal – Germany abandons exit timetable R

Coal – As Europe Drops, Poland Embraces B

Coal – Biggest US Private Producer Warns of Massive Layoffs WSJ

Coal – Oakland Votes to Block Large Shipments WSJ / NYT

Coal – A ‘Clean’ Model Runs Off the Tracks NYT

Coal – Consumption, production and reserves / t * * *

Coal – Decline in Three Charts / vc *



HEALTH

ENDNOTE

Stick Charts motw *



Today’s Issue Cluster: China Economy

MAJOR DATA POINTS

Germany – Jul: ZEW Economic Sentiment Fell; -6.8 from 19.2 / FT

US – Jun: Housing starts rebound; +4.8%, -2.0% yr / WSJ / R



MARKETS

ECONOMICS

China – Growing at only half of official estimates: SMI survey R

China – Proves Doubters Wrong For Now as Credit Boom Stokes Growth B * *

China – The reversion to state-led growth is unsustainable FT *

China – GDP Sends Troubling Signal on Economic Reform WSJ

China – Growth Dims Stimulus Expectations B *

China – Zombie Companies Stay Alive Despite Defaults WSJ *

China – Credit Suisse: Growth to Explode Again in 2017 / t *



POLITICS & FISCAL POLICY

China – Sea Claim Has No Legal Basis, Court Says WSJ / FT / B *

China – Convicts Almost Everyone It Accuses WSJ *



MONETARY POLICY

PBOC – China’s Latest Plan for Market Control Involves Bank WSJ *



FINANCE

China – Banks’ $24t rollover risk B * *



REAL ESTATE

China – Sale of rural land remains illegal FT *

China – Breakneck Development Brings Flooding in Its Wake WSJ *



LABOR & EDUCATION

SERVICES

Media – China’s Influence on Hollywood Grows WSJ *

Media – China’s Hunger for Entertainment Spurs Deals Abroad WSJ *

Media – As economy cools, Chinese box-office sales have slowed WSJ *



MANUFACTURING

Robots – China could be the world’s leading market B * *



TECH

Streaming – Netflix Reports Sharp Slowdown in User Growth WSJ / NYT / R / WSJ *

Streaming – Netflix Price Hike Rankles Some Viewers / B *

Streaming – Now Isn’t the Time to Binge / WSJ *



TRADE & TRANSPORTATION

Auto – The Chinese do not want to pay more for driving them E *



COMMODITIES

ENERGY & ENVIRONMENT

NatGas – US exports to the Middle East FT

NatGas – First LNG Tanker Through New Panama Canal Will Carry US Gas B *



HEALTH

ENDNOTE

41% of 550 coups between 1946 and 2015 were successful vocativ *



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 *