MACRO ECONOMIC NEWS

YESTERDAY WAS GRATEFUL; TOMORROW WILL BE THANKFUL AND TODAY IS BLESSED. WISHING A BLESSED DAY AHEAD.

Macro Economic News 30 Oct 2018

 

A closely watched price index suggests that, for now, inflation poses little threat to the economy. Private analysts and the Federal Reserve say a slowdown is looming. Though few believe a recession is near, a slowdown in growth would have far-reaching implications. The U.S. Treasury Department estimates it will issue more than $1 trillion in debt this year as higher government spending and stagnant tax revenues push the deficit higher. The U.K. said it will move ahead with plans to introduce a first-of-its-kind tax on locally generated revenue by large technology firms—the most concrete attempt yet by an industrialized nation to rewrite the world’s tax code for the digital era.

 

FINANCIAL TIMES

[I]  Germany’s Angela Merkel steps down as CDU leader

[I]  Carmakers boosted on talk of China tax cuts

[I]  Hammond delivers largest giveaway Budget since 2010

[I]  Far-right fuels US violence as extremism creeps into mainstream

[I]  Netanyahu seeks to bolster Israeli ties with Gulf nations

[I]  Indian women fight for their right to work

[I]  Merkel’s role as EU power-broker hit by trouble at home

[I]  EU probes Myanmar as it weighs cuts to trade preferences

 

REUTERS

[I]  Government 'very upset' with RBI for making rift public

[I]  Japan finance minister: forex swap with India intended to function as safety net

[I]  Asian stocks fragile as trade tensions escalate

[I]  Merkel exit to polarise Germany and Europe

[I]  Britain to target online giants with new 'Digital Services Tax'

[I]  UK austerity ending, as long as Brexit deal gets done - Hammond

[I]  Analysis: Sri Lanka's political crisis trigger major economic concerns

[I]  U.S. consumer spending solid; income gain smallest in 15 months

 

BLOOMBERG 

[I]  China Machine ‘Working Very Well’ Amid Stimulus, Rio Chief Says

[I]  China Shares Extend Slump as U.S. Trade War Threatens to Worsen

[I]  China’s Yuan Drops to a Decade-Low, 7 Per Dollar Now in Sight

[I]  U.S. Plans More China Tariffs If Trump-Xi Meeting Fails, Sources Say

[I]  China Is Buying Distressed Private Companies as Markets Sink

[I]  China Regulator to Propose 50% Cut to Car Purchase Tax

[I]  China Aims to Pull More Currency Trading to Its Domestic Markets

[I]  Australian Bank Earnings Expected to Be the Worst in a Decade

[I]  Bitcoin’s Long-Term Trend Lines Suggests Downswing Isn't Over Yet

[I]  Even the World's Biggest Miners Are Switching to Electric Vehicles

[I]  Treasury Sees 2018 Borrowing Needs Surging to $1.34 Trillion

 

WALL STREET JOURNAL

[I]  Tame Inflation Keeps Fed on Track

[I]  Treasury Expects to Issue Over $1 Trillion in Debt in 2018

[I]  U.K. to Roll Out First-of-Its-Kind Digital Tax

[I]  U.S. Economy Flashes Signs It’s Downhill From Here

[I]  Global Economy Week Ahead: U.S. Consumer Confidence, Jobs Data

[I]  Volcker Sees Fed Rate Increases as Key to Stable Growth

 

BUSINESS LINE

[I]  Apex court kills the ignition of nearly a third of NCR’s vehicles

[I]  Why onion price spikes get you teary

[I]  Coal imports surge on domestic short-supply

[I]  CA Institute urges Centre not to set up financial reporting authority

[I]  Italy hopes PM Conte’s visit will deepen friendly relations with India

[I]  ISMA cuts sugar output projection to 315 lt

[I]  N-E monsoon now expected to set in by Thursday

[I]  ‘We provide entrepreneurs a trusting environment to fail safely and find the right idea’

 

ECONOMIC TIMES

[I]  RBI vs govt: It's okay to critique each other

[I]  India Inc has a good news for budding techies

[I]  What family-run businesses do to resolve conflicts within

[I]  Distressed asset sales 3% of overall M&A in 2017: Report

[I]  India Inc investment in overseas ventures drop 47% to $ 1.54 billion in Sep

[I]  Pepper consortium wants to limit imports under SAFTA from Sri Lanka

[I]  India tops as Asia's most investment savvy economy: Standard Chartered

[I]  Russia may invest in DMIC, smart cities, railways, public transport: Suresh Prabhu

[I]  I-T dept proposes online filing of tax exemption application

 

BUSINESS STANDARD

[I]  CAD, rupee woes: India increases size of currency swap with Japan to $75 bn

[I]  Achieving 1-billion-tonne coal output target by 2022 set to disrupt market

[I]  Backing Acharya, experts say govt's undue pressure on RBI causing friction

[I]  Refractories, sponge iron, re-roller SMEs to piggyback steel demand: CRISIL

[I]  India may postpone duty hike for 29 US products by 45 days a third time

[I]  Employment and real wages accelerate in listed companies

[I]  Shorter route to US gets longer: EB-5 visa waiting period, cost to double

[I]  SC bans 15-yr-old petrol, 10-yr-old diesel vehicles in NCR due to pollution

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 10255;  USDINR DGCX: 73.8725;  DJIA Mini: 24535;  FTSE 100 Fut: 6983;  NIKKEI 225 Fut: 21316;  EUR-USD: 1.1382; Crude Oil (WTI): 67.03;  Gold (Spot): 1228

 

Best Regards, ARBIND

30 Oct 2018