MACRO ECONOMIC NEWS

WISH THIS DAY ESTABLISHES LOVING INTIMATE RELATIONSHIP WITH INNER DIVINE SELF

Macro Economic News 25 May 2018

 

Trump calls off his planned summit with Kim Jong Un and the U.S. Justice Department digs into bitcoin. The relief brought by Turkey’s decision to boost interest rates at Wednesday’s emergency meeting didn’t last long, as the lira resumed its nosedive against the dollar despite president Recep Tayyip reiterated his commitment to an open economy. Market analysts in the country, meanwhile, are censoring their reports for fear of losing their jobs after one research chief was fired for publishing speculation Erdogan might have staged a failed 2016 coup.

 

FINANCIAL TIMES

[I]  Trump calls off summit with North Korea’s Kim Jong Un

[I]  Russia and Saudi Arabia to discuss relaxing oil production caps

[I]  US small businesses drop EU customers over new data rule

[I]  US consumer staples plunge as bond yields rise

[I]  US presses Europe for tougher sanctions on Russia

[I]  Donald Trump’s threat on new import tariffs unsettles carmakers

[I]  Trump car tariff threat prompts global condemnation

[I]  North Korea sceptics proved right

[I]  Trumps car tariffs highlight threat of retaliatory trade war

[I]  Iraq’s new government hamstrung by old economic woes

 

REUTERS

[I]  'Trump-style solution'? North Korea says still open to talks after summit cancelled

[I]  Graphic: India's petrol, diesel prices surge to record

[I]  Brazil truckers suspend strike, government to subsidize diesel prices

[I]  IMF to add Islamic finance to market surveillance in 2019

[I]  Ireland votes in "once-in-a-generation" abortion referendum

[I]  Oil prices ease after Russia says it may gradually raise output

[I]  U.S. raises concerns about Vietnam's proposed cybersecurity law

[I]  Trump threat of auto tariffs opposed by auto industry, Republicans

[I]  Tight supply weighs on U.S. home sales; job market strengthening

 

BLOOMBERG 

[I]  How Investors Are Reacting to the Trump-Kim Summit Collapse

[I]  Trump No-Show, Asia Trade-War Impact, End of Aussie Era: Eco Day

[I]  Russia Tightens Grip on Europe's Gas Supply With Gazprom Deal

[I]  Job Security, House-Price Fears Erode U.K. Consumers' Confidence

[I]  British Pork Finds New Market in China as Brexit Looms

[I]  Seven Charts That Show Why Australia’s Housing Boom Is Ending

[I]  U.S. Pump Prices Highest Since 2014 for Memorial Day

[I]  1,000 Cuts to Dodd-Frank: Tracking Trump's Wave of Deregulation

[I]  Trump’s Threat of Auto Tariffs Complicates Nafta Talks

[I]  Probe into Bitcoin Price Manipulation Probably ‘A Good Thing’, Novogratz Says

[I]  Yields at 3% Fail to Entice Some of the Biggest Treasuries Fans

[I]  U.S. Home Values Are Rising at Their Fastest Pace in 12 Years

 

WALL STREET JOURNAL

[I]  U.S. Existing Home Sales Fell in April

[I]  U.S. Jobless Claims Rose to 234,000 Last Week

[I]  Trump Identifies His Trade Weapon of Choice, to the Dismay of Congress

[I]  New Uncertainty for Global Auto Makers

[I]  Europe’s Economy Throws a Wrench in the ECB’s Plans

[I]  Fed Signals June Rate Rise

[I]  Trump Signs Banking Bill, Adding to Regulators’ To-Do List

[I]  Why Student-Loan Delinquency Is Falling

 

BUSINESS LINE

[I]  Coal supply diversion irks industries dependent on captive power plants

[I]  ‘Quality of hiring in India matters, not the numbers’

[I]  Corporate debtors must get shareholders’ approval to initiate insolvency process

[I]  Two-lakh-tonne milk powder stock has private dairy players worried

[I]  Heat and fishing ban push up poultry prices

[I]  Customs duty hike, weak rupee may stop wheat imports

[I]  India Inc’s external borrowing to remain flat in FY19

[I]  United Forum of Bank Unions demands better wage offer

 

ECONOMIC TIMES

[I]  Why the rupee's fate is largely out of the Reserve Bank's control

[I]  US, China bury the hatchet, give soybean so much to cheer

[I]  Oil pinned below $80 a barrel as chances rise of Opec raising output

[I]  FSDC reconstituted to include more members

[I]  Protectionist measures will hit Indo-US trade: Advocacy groups

[I]  Private oil companies all for duty cut to lower prices

[I]  Government raises wheat import duty to 30%

[I]  GDP to grow at 7.5% in FY19; CAD, rupee a worry: Report

[I]  Govt mulls new category to impose import duties on hi-tech products

[I]  Oil prices and US interest rates control rupee's fate

 

BUSINESS STANDARD

[I]  Govt may relax clause that dissuaded foreign firms from taking part in OALP

[I]  Higher crude prices threaten govt's dividend income from oil PSUs

[I]  UP leather industry staring at another stumbling block, gets a 'raw' deal

[I]  SUVs drive at least one-fourth of overall sales for top carmakers

[I]  Homebuyers treatment as financial creditor: Builder loans may get costlier

[I]  Tax-on-tax on petrol, diesel earns states Rs 1.2 trillion in two years

[I]  High prices reignite demand for aviation turbine fuel under GST

[I]  Govt may levy 'windfall tax' on ONGC, OIL to bring down rising fuel prices

[I]  India keen to renew proposed trade deal with European Union

[I]  Home truth: Spike in housing finance companies bad loans hobbles PMAY

 

MARKETS (8:15 am)

[I]  SGX NIFTY Fut: 10510;  USDINR DGCX: 68.2925;  DJIA Mini: 24871;  FTSE 100 Fut: 7748;  NIKKEI 225 Fut: 22457;  EUR-USD: 1.1707; Crude Oil (WTI): 70.59;  Gold (Spot): 1302          

Best Regards, ARBIND

25 May 2018