MACRO ECONOMIC NEWS

WISH THIS WEEKEND EXPANDS FRATERNITY ACROSS HUMANITY. HAPPY WEEKEND.

Macro Economic News 25 Aug 2018

 

New research from the Federal Reserve warns against placing too little attention on an unemployment rate that falls below levels regarded as likely to maintain stable inflation. Federal Reserve Bank of Cleveland President Loretta Mester said the economy’s solid performance justifies further gradual interest-rate increases. Demand for long-lasting goods produced by U.S. factories fell in July because of a decline in aircraft sales, but underlying demand grew modestly. Tariffs on steel and aluminum are driving up the value of shipments of metals being produced domestically, but they have little effect on the quantity being churned out.

 

FINANCIAL TIMES

[I]  Fed’s Powell sees few signs of US economy overheating

[I]  Norway wealth fund should keep oil stocks, says report

[I]  Russia backs down on proposed tax on industrial groups

[I]  Italy and EU clash over fate of stranded migrants

[I]  The world’s hottest new artist: an algorithm?

[I]  China’s central bank gives itself more leeway on setting exchange rate

[I]  Germany’s record budget surplus triggers calls for tax cuts

 

REUTERS

[I]  India, China agree to expand military ties after defence talks

[I]  Pakistan disputes U.S. account of call between Pompeo and new PM Imran Khan

[I]  Lane weakens into tropical storm as flood hazard lingers over Hawaii

[I]  U.S. stock fund investors show no fear of King Dollar

[I]  Fed's Bullard warns of recession risk in raising rates

[I]  Trump accuses social media firms of 'silencing millions'

[I]  Italy clashes with EU over migrants stranded on boat

[I]  U.S. sanctions on Russia to stay: Bolton

 

BLOOMBERG 

[I]  ECB Hunt for Europe's New Bank Watchdog Starts With Irish Claim

[I]  U.S. Warns Russia It Will Hit Assad If He Uses Chemical Arms, Sources Say

[I]  PBOC Joins Forces With Powell to Hit the Brakes on Dollar Rally

[I]  A Shrinking Slice of the American Economic Pie

[I]  The Complex Calculations Behind Angela Merkel's ECB Strategy

[I]  U.S.-China Talks Draw a Blank, Bringing Fresh Tariffs Into View

[I]  ECB Hunt for Europe's New Bank Watchdog Starts With Irish Claim

[I]  Investor Optimism on Global Oil Price Wanes

 

WALL STREET JOURNAL

[I]  Fed’s Powell Defends Pace of Rate Hikes to Avert Overheating

[I]  Fed Signals Unease About Drop in Unemployment

[I]  Fed’s Mester Says Gradual Rate Increases Still Best Path

[I]  U.S. Durable-Goods Orders Fell 1.7% in July

[I]  Rising Metals Prices Show Little Sign of Substantially Boosting U.S. Output

[I]  Home Sales Tumbled In July for the Longest Slump Since 2013

[I]  How ‘Intangible Capital’ Explains Rising Corporate Concentration, Weak Investment

[I]  BOE Economist Warns of Giant Firms’ Effects on Inflation, Growth

[I]  Inequality Grows Between Top Firms, Everybody Else, Paper Finds

 

BUSINESS LINE

[I]  Banks want to tap database of I-T, GST departments

[I]  Russia pitches defence contracts worth $10 billion to India

[I]  ‘Industry 4.0 will make India a leading manufacturing economy’

[I]  Inter-State flow of wind power begins

[I]  Monthly inflows into MFs likely to grow over 30% in FY20: AMFI chief

[I]  Demand growth squeezing availability of coal despite increase in production

 

ECONOMIC TIMES

[I]  IPO proceeds enough for 18-24 months

[I]  Rupee will remain vulnerable till Turkey sets house in order

[I]  Forex reserve drops by $33.2 million to $400.84 billion

[I]  RBI may have shifted rupee intervention limit, say analysts

[I]  Kharif planting gathers steam in last leg due to fresh spell of rains

[I]  High borrowing costs, weak rupee to impact India Inc: Report

[I]  India, Singapore sign Second Protocol amending bilateral trade pact

[I]  Centre approves 1.12 lakh more houses under PM's housing scheme

 

BUSINESS STANDARD

[I]  QR codes on drug packages on cards, to help in implementing price revisions

[I]  Clock is ticking for Rs 3.8 trn stressed assets; 70 firms may land in NCLT

[I]  Rising costs, growing demand for shift wages pull down tea industry

[I]  Kharif sowing may fall short of last year's level by almost 1.3 mn hectares

[I]  More financial scams in the offing, says West Bengal FM Amit Mitra

[I]  Sebi wants mutual fund industry to highlight short-term risks better

Best Regards, ARBIND

25 Aug 2018