MACRO ECONOMIC NEWS

TOGETHER WE EXPERIENCE THE BEAUTY OF HOLINESS THIS WEEKEND

Macro Economic News 05 May 2018

 

For the third report in a row, expectations are for a decline in the jobless rate to 4.0 percent from the 4.1 percent level it has held since October 2017. Average hourly earnings are forecast to show an annual gain of 2.7 percent. The U.S. delegation to China, led by Treasury Secretary Steven Mnuchin, and their hosts agreed to continue talking, while reaching no breakthrough over trade as their meetings ended in Beijing. The Trump administration asked China to decrease its trade surplus with the U.S. by at least $200 billion by the end of 2020, the kind of demand that Chinese officials had already warned against.

 

FINANCIAL TIMES

[I]  US demands China cut trade deficit by $200bn

[I]  European banks fall further behind their US rivals

[I]  Argentina’s peso woes raise big question for emerging markets

[I]  Trade war looms as US and China take hardline stance

[I]  US unemployment falls below 4% for first time since Clinton era

[I]  German business confidence extends decline — PMI

 

REUTERS

[I]  U.S. lawmakers set $717 billion defence bill with eye on China, Russia, Turkey

[I]  Trump team demands China slash U.S. trade surplus, cut tariffs

[I]  Banks should boost capital, not leverage: Fed's George

[I]  U.S. judge says Mueller should not have 'unfettered power' in Russia probe

[I]  SEBI to allow longer hours for equity derivatives trading

[I]  With no gut punch in view, Fed confident in its inflation footing

[I]  U.S. job growth picks up; unemployment rate falls to 3.9 percent

[I]  China details CDR rules to woo overseas-listed companies

 

BLOOMBERG 

[I]  Can You Build a Nation With 100% Gender Equality?

[I]  Trump Team's Trade Mission to China Lays Bare Yawning Divide

[I]  Trump to Meet Moon May 22 Before Planned North Korea Summit

[I]  U.S. Stocks Log Biggest Gain in Over Three Weeks: Markets Wrap

[I]  U.S.-China Trade Talks End With Key Differences Still Unresolved

[I]  A Decade of Banks Behaving Badly Is Being Laid Bare in Australia

 

WALL STREET JOURNAL

[I]  Falling Unemployment Could Pressure Fed to Move Faster

[I]  U.S. and China Make Scant Progress in Trade Talks

[I]  China Tensions Chill Soybean, Pork Trade

[I]  Beijing Plans $47 Billion Chip-Sector Fund

[I]  U.S. Foreign-Trade Deficit Narrowed in March

[I]  U.S. Workers’ Productivity Edged Up in First Quarter

[I]  U.S. Jobless Claims Edged Higher Last Week

[I]  EU Paints Rosy Economic Picture, But Warns of Threats From U.S.

 

BUSINESS LINE

[I]  GST Network will soon become a 100% govt-owned company

[I]  Single GST return form by year-end: Adhia

[I]  India to China: Simplify registration process to boost pharma trade

[I]  Services PMI jumps to 51.3; job growth fastest in seven years

[I]  ‘Govt ready to talk with industry on M&A issues’

[I]  Dust storm devastates vegetable crops, harvested wheat

 

ECONOMIC TIMES

[I]  To scale up the Doing Business index, focus on structural reforms

[I]  India Inc foreign borrowing swells 20% in Mar at USD 5.07 bn

[I]  Niti Ayog inks pact with IBM to develop crop yield prediction model using AI

[I]  With a good April show, FY19 GST target achievable: Report

[I]  Good news for India's pharma industry: China removes import duties on 28 medicines

[I]  India tops list of fastest growing economies for coming decade: Harvard study

[I]  Improved demand conditions push services output higher: PMI

[I]  PMI: Service activity improves in April, job creation at 7 year high

 

BUSINESS STANDARD

[I]  RBI to infuse liquidity in bond market as forex reserve dips by $3.22 bn

[I]  25% IT chiefs draw more than Rs 100 million, says a report by IiAS

[I]  Eastern Peripheral Expressway is still a work in progress

[I]  Sugar cess divides state governments at GST Council meeting

[I]  Bitcoin trading will survive RBI's ban, say cryptocurrency investors

[I]  Illiquid five-year bond distorts yield curve

 

Best Regards, ARBIND

05 May 2018