MACRO ECONOMIC NEWS

WISH THIS WEEKEND SHOWERS DRIZZLING FRESHNESS ALL OVER

Macro Economic News 02 Jun 2018

U.S. President Donald Trump may have thought that shifting positions unpredictably was a good dealmaking tactic back in New York, but flip-flops on North Korea, China and now trade with America's closest allies has world leaders saying the U.S. is losing credibility. Trump is planning an unprecedented intervention in energy markets to prop up the coal industry, a key source of climate change-causing pollution and base of his political support.

 

FINANCIAL TIMES

[I]  Global markets rally as US jobs growth calms volatility

[I]  Mammon goes to the Vatican to discuss climate change

[I]  S&P downgrades Deutsche Bank on restructuring plans

[I]  Italy’s new government: Europe on edge after palace takeover

[I]  Brussels vows to hit back at US tariffs with measures of its own

[I]  Migrants risk family separations to enter US

[I]  UK pub companies feel high street chill

 

REUTERS

[I]  Modi calls for unimpeded trade, access in Indo-Pacific

[I]  Delhi's proposal to cap drug costs worries hospitals industry

[I]  In complete reversal, Trump revives summit with North Korean leader

[I]  Trump says U.S. might prefer separate trade deals with Canada, Mexico instead of NAFTA

[I]  In complete reversal, Trump revives summit with North Korean leader

[I]  U.S. isolated at G7 meeting over tariffs: French minister

[I]  Allies in G7 vow to fight U.S. tariffs, see threat to growth

[I]  U.S. Commerce chief set for China trade talks amid metals tariff rancour

[I]  Global trade friction puts Asian factories, export recovery at risk

 

BLOOMBERG 

[I]  Oil Bulls Lose Heart as Mega Producers Signal More Supplies

[I]  Trump Metal Tariffs Send Corporate Canada Reeling in Disbelief

[I]  Kushner Buys 666 Fifth Stake, Ending Rocky Vornado Partnership

[I]  How Trudeau’s Push for a ‘Skinny Nafta’ Deal Hit a Trump Wall

[I]  Mighty May Auto Sales Show U.S. Economy Cruising in Sweet Spot

[I]  It's 2007 Again for Commercial Mortgage Bonds, Moody's Says

[I]  Trade Tension, Italian Political Woes Prompt Emerging-Market Selloff

 

WALL STREET JOURNAL

[I]  Brisk Hiring Pushes Jobless Rate Down to 3.8% as Wages Rise

[I]  Report Keeps Fed’s June Rate Increase on Track

[I]  Trump Raises Prospect of Separate Trade Deals With Canada, Mexico

[I]  Europe Launches WTO Challenge to U.S. Tariffs

[I]  U.S. Tariffs Prompt Anger, Retaliation From Trade Allies

[I]  U.S. Tariff Moves Jolt Nafta Talks

[I]  U.S., China Haggle Over Purchases of American Goods

[I]  U.S. Factory-Sector Activity Accelerated in May

[I]  Trump’s Trade Policies Threaten Millions of Jobs, U.S. Chamber of Commerce Says

 

BUSINESS LINE

[I]  Relief for power sector as court halts RBI’s NPA order

[I]  GST collection in May stands at Rs. 94,000 cr

[I]  Sugar cess gets Law Ministry’s approval

[I]  India to make a case with the US for speedy renewal of tariff preference scheme

[I]  Auto fuel prices down a tad; but cooking gas and ATF to cost more

[I]  Economic development and allocation of resources

[I]  Private lenders surge ahead of PSBs weakened by asset-quality woes

 

ECONOMIC TIMES

[I]  Forex reserves decline by $2.23 bn to $412.83 bn

[I]  Foreigners dump India bonds at record pace as oil woes deepens

[I]  Italy just raised $8.6 billion debt, but prices show faith markets have

[I]  Milk production to grow at 9 per cent annually by 2022 from 6 per cent now: Radha Mohan Singh

[I]  Fiscal deficit in April at 24.3% of BE on lower expenditure

[I]  India pitches for sugar export to China

[I]  India, Singapore to upgrade Comprehensive Economic Cooperation Agreement

[I]  Retail inflation for industrial workers softens to 3.97% in April

[I]  Manufacturing activity slows in May, PMI at 51.2

[I]  Are we facing an oil shock? These signs say yes

[I]  Be an informer to income tax department, earn up to Rs 5 crore

 

BUSINESS STANDARD

[I]  Residential share will go up to 50% in the next five years, hopes Embassy

[I]  Domestic car sales expand 19% in May

[I]  Govt clears policy to permit quadricycles for commercial use in India

[I]  Slow progress in construction of railway overbridges

[I]  Bond market awaits signals to go dovish

[I]  PSB losses eat up Centre's $13 billion infusion in FY18: Fitch Ratings

[I]  IMD's monsoon, weather forecasts get up close and personal

 

Best Regards, ARBIND

02 Jun 2018