MACRO ECONOMIC NEWS

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Macro Economic News 08 Nov 2018

 

Unfilled jobs in the U.S. exceeded the number of unemployed Americans by more than one million as the summer came to a close, a sign it is increasingly difficult for employers to find workers. Facing one of the tightest labor markets in the U.S., Foxconn has been trying to tap Chinese engineers through internal transfers to supplement staffing for its planned Wisconsin plant, according to people familiar with the matter. Former Treasury Secretary Henry Paulson concludes that U.S. engagement with China is failing and an “economic Iron Curtain” may soon descend between the two economic superpowers.

 

FINANCIAL TIMES

[I]  US elections: Trump calls for collaboration with Democrats

[I]  Merkel’s favoured successor declares new chapter

[I]  France vows to lead Europe in defying US on Iran sanctions

[I]  Taxing times: How Germany’s fraud probe is spreading

[I]  Spain to force banks to pay mortgage stamp duties

[I]  The dollar can defend its global reserve role against EU and China

[I]  Business today brings many risks upon itself

 

REUTERS

[I]  Higher prices, lending curbs dim Diwali festival for Indian retailers

[I]  U.S. says China, India unfairly subsidized, dumped welded pipe

[I]  Oil prices stable as talk of OPEC output cuts supports, but soaring U.S. production drags

[I]  Post-election Wall Street surge leads Asia higher, dollar off lows

[I]  BOJ debated room for future tweaks to easy policy in October

[I]  Australia's banking regulator flags higher capital requirements

[I]  U.S., China should ensure G20 talks go well: senior Chinese diplomat

[I]  With eye on chancellery, Merkel protege wants new era for Germany

[I]  Japan machinery orders hit by worst-ever slump in September, raise capex doubts

[I]  BOJ policymaker signals chance of future rate hike to ease bank strains

[I]  Pakistan to begin talks with IMF over yet another bailout

[I]  German industry output edges up on strong building sector

 

BLOOMBERG 

[I]  U.K. Worker Shortage Intensifies as Starting Salaries Climb

[I]  Brexit Batters U.K. Housing as RICS Index Worst in Six Years

[I]  China Has More Distressed Corporate Debt Than All of EM Combined

[I]  Bond Traders Are ‘Back to a Flattening Curve’ With Focus on Fed

[I]  American Voters Just Sent a Surprising Message About the Trade War

[I]  Big China Brokers Seek to Raise Capital as Default Risks Linger

[I]  Japan Leaves No Stone Unturned as It Prepares for Sales-Tax Blow

[I]  Only Locals Are Buying Into Brazil's Record-Breaking Rally

 

WALL STREET JOURNAL

[I]  Job Openings Outnumbered the Unemployed by More Than One Million

[I]  How an Analysis of Basque Terrorism Helps Economists Understand Brexit

[I]  Henry Paulson Delivers a Sobering Message on U.S.-China Relations

[I]  After Iran Sanctions, U.S. Faces a Huge Task: Compliance

[I]  Service-Sector Activity Cools Slightly in October

[I]  U.S.-China Trade Tensions on Display at Shanghai Expo

[I]  Democratic House Threatens Trump’s Business Agenda

[I]  More Factories Crop Up Closer to Customers

 

BUSINESS LINE

[I]  After locking horns with the Centre, RBI looking for middle ground on many issues

[I]  ‘Rising imports, coal shortage are key challenges for the aluminium sector’

[I]  Decline in overburden removal may pull down coal output

[I]  UK Parliamentary group calls for post-study work visa for international students

[I]  Softening of American sanctions on Iran bodes well for India on oil front

 

ECONOMIC TIMES

[I]  View: Lower interest rate encouraging investments may not always hold true

[I]  India's safeguard duty move on steel goods inconsistent with certain global trade norms: WTO panel

[I]  Reserve Bank of India plans payments ombudsman

[I]  View: India on right track to reach the top 50 in Ease of Doing Business Index

[I]  RBI board shouldn't dictate terms to management: Raghuram Rajan

 

BUSINESS STANDARD

[I]  Diwali brings light of hope to Noida's ghost towers as buyers come back

[I]  Two years after getting hit by demonetisation, MSMEs continue to limp

[I]  MFIs working on Rs 5-bn loan pool for sale to banks to ease liquidity

[I]  Actively managed funds underperformed indices in year to June 2018: Report

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 10684;  USDINR DGCX: 72.4850;  DJIA Mini: 26150;  FTSE 100 Fut: 7127;  NIKKEI 225 Fut: 22545;  EUR-USD: 1.1432; Crude Oil (WTI): 61.74;  Gold (Spot): 1226

 

Best Regards, ARBIND

08 Nov 2018