MACRO ECONOMIC NEWS

YOUR FAITH IS STRONG AND YOUR PURPOSE IS TRUE. WISHING A MEMORABLE MONDAY.

Macro Economic News 24 Sep 2018

 

 

The humming economy is bringing more labor strife. In recent weeks, unionized hotel housekeepers in Chicago, distillery workers in Kentucky and crane operators in Seattle have all walked off the job to pressure employers for better pay and benefits. The eurozone’s economy continued its slow-motion slowdown in September, as exports suffered from a drop off in global demand and uncertainty about future trade relations between the U.S. and other countries. Turkey’s economic crisis has heightened concerns in Egypt about whether the Arab world’s largest country is positioned to withstand falling confidence in emerging markets world-wide.

 

FINANCIAL TIMES

[I]  France business chief warns Macron on public spending

[I]  Italy’s populists press finance minister to increase public spending

[I]  US to set up $60bn agency to counter China in developing world

[I]  China raises trade tensions by rejecting US call for talks

[I]  Iran accuses US of ‘starting a war’ in fight over sanctions

[I]  Trump’s Supreme Court plans face critical test ahead of showdown

[I]  India eyes relief package for struggling airlines

 

REUTERS

[I]  RBI and SEBI ready to act to calm markets: statement

[I]  OPEC, Russia rebuff Trump's call for immediate boost to oil output

[I]  Yen gets fleeting bid as China cancels trade talks

[I]  UK opposition leader will back second Brexit vote if party wants it

[I]  Low interest rates spawn rise in number of zombie firms: BIS

[I]  Third of EU financial secrecy comes from inside its borders: report

[I]  Trump expected to tout North Korea progress, but concrete moves lacking

[I]  Asian firms shuffle production around the region as China tariffs hit

[I]  EU pushes October Brexit agreement, threatens no deal

[I]  Bonds beat bank debt, dollar king for borrowers a decade after crisis: BIS

 

BLOOMBERG 

[I]  Hong Kong's Surging Dollar Sends a Warning on the Housing Market

[I]  China Developers' Funding Source at Risk in Sales Crackdown

[I]  Global Economy Shaky, Tariff Deadline, China Beige Book: Eco Day

[I]  China Beige Book Says Manufacturers Stressed Even Before Tariffs

[I]  OPEC Gives Tepid Response to Trump's Demand for Lower Oil Prices

[I]  The Global Economy Is Vulnerable and Central Banks Aren’t Ready

 

WALL STREET JOURNAL

[I]  Struggling U.S. Farmers Have a New Worry: a Resurgent Russia

[I]  Policy Makers Rethink a 2% Inflation Target

[I]  Low Unemployment, Slow Wage Growth Bring Renewed Labor Strife

[I]  Trade Tensions Spell Trouble for Eurozone Economy

[I]  Turkey’s Economic Woes Raise Tensions in Egypt

[I]  Global Economy Week Ahead: Fed Policy Statement, GDP Estimate and Other Data

[I]  Profit Repatriation Slows in the Second Quarter After Tax Overhaul

 

BUSINESS LINE

[I]  Assets of nine CPSEs to be hived off before stake sale

[I]  As crude rates surge, ethanol wins over oil marketing companies

[I]  Commerce Min to take up exporters credit woe with RBI

[I]  Commerce Ministry rues steep decline in export credit

[I]  RBI, SEBI ‘closely monitoring’ developments in financial markets

 

ECONOMIC TIMES

[I]  India conducts successful interceptor missile test

[I]  Opec, non-Opec panel unlikely to recommend further oil output hike - sources

[I]  Higher MSP to drive 25% surge in gold demand: Report

[I]  Opec and allies struggle to pump more oil as Iran supply falls

[I]  Indian philanthropists donating more to drive social change: Report

[I]  EU-India "fully committed" to move forward on free trade pact: Official

[I]  Over 40% companies surveyed expect RBI to hike rates: CII

[I]  Mandating e-commerce firms to store user data exclusively in India to impact their biz: Experts

 

BUSINESS STANDARD

[I]  Scooters lose speed, growth rate slips to single digit after 7 years

[I]  The discount warriors: How online pharmacies are disrupting the trade

[I]  States moving closer to monthly GST mop-up targets; here's who stands where

[I]  GST's unfinished agenda: Dealing with contractual price adjustments

[I]  Govt banks have 90% of NPAs

[I]  Small savings schemes become attractive again: All you need to know

[I]  OPEC, Russia rebuff Trump's call for increase in oil output to cool market

 

MARKETS (08:15 am)

[I]  SGX NIFTY Fut: 11145;  USDINR DGCX: 72.2850;  DJIA Mini: 26692;  FTSE 100 Fut: 7423;  NIKKEI 225 Fut: 23720;  EUR-USD: 1.1741; Crude Oil (WTI): 71.54;  Gold (Spot): 1196

 

Best Regards, ARBIND

24 Sep 2018