MACRO ECONOMIC NEWS

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Macro Economic News 02 Nov 2018

 

American factory activity decelerated in October, while an underlying gauge of activity in factories that make metal products contracted for the first time in about two years. The number of Americans filing applications for new unemployment benefits fell last week, indicative of a tight labor market in which employers are reluctant to lay off workers.

 

FINANCIAL TIMES

[I]  France and Italy dangle juiciest EU tax breaks for Brexit bankers

[I]  US-China military tension heightens over Taiwan

[I]  Scientists launch $4.7bn project to read DNA of all life on Earth

[I]  ‘Junk news’ still rising, study finds, as US midterms near

[I]  US investors buckle up after bumper earnings season

[I]  Britain faces a bumpy road ahead at the WTO

 

REUTERS

[I]  Treading carefully, Japan's nuclear industry makes a comeback

[I]  U.S. voters to decide $76 billion of bonds, taxation limits

[I]  Europe's top banks in EU stress test spotlight

[I]  Saudi Arabia hosts rare visit of U.S. evangelical Christian figures

[I]  Euro rebound still on cards but conviction starting to waver: Reuters poll

[I]  U.S. labor market tightening; manufacturing slowing

[I]  Bank of England hints at faster hikes, but says Brexit options wide open

[I]  U.S. productivity growth slows in the third quarter

 

BLOOMBERG 

[I]  A Synchronized Slowdown Is Looming: World Economy This Week

[I]  Iran Sanctions Kick in, Bringing Biggest Oil Disruption in Years

[I]  Economic Arms Race, Fresh Japan Stimulus, Shorting Yuan: Eco Day

[I]  Asia's Most Aggressive Rate Hikers Have More Work Ahead

[I]  China's Stock Market Is Sending a Scary Signal About the Economy

 

WALL STREET JOURNAL

[I]  Worker-Productivity Gains Coming Up Short in Stronger Economy

[I]  Factory-Sector Growth Retreated in October. Tariffs Could Be to Blame.

[I]  U.S. Jobless Claims Dropped Last Week

[I]  Taxpayers Can Put More Into Retirement Accounts in 2019, IRS Says

[I]  Smaller Banks Await Potential Fed Ally

 

BUSINESS LINE

[I]  India hopes for positive news from US on Iran oil

[I]  Auto sales on low gear in October

[I]  Cabinet approves ordinance to amend Companies Act

[I]  Consumer durables buyers yet to see GST rate-cut benefits: Survey

[I]  Higher fuel cost, currency losses may push domestic airlines deeper into the red: Crisil

[I]  Rabi crops may face weather risk

 

ECONOMIC TIMES

[I]  US takes another tough trade stance, India hit

[I]  Private firms will soon be making weapons

[I]  SC allows 5 more documents to prove citizenship

[I]  GST collections for October 2018 have crossed Rs. 1 lakh crore

[I]  India may impose anti-dumping duty on a chinese chemical

[I]  Manufacturing sector activity rises in October on robust order flow: PMI

[I]  Cabinet gives nod to ordinance to amend Companies Act

[I]  India, China to undertake joint research on WTO reforms

 

BUSINESS STANDARD

[I]  Manufacturing PMI jumps to 53.1 in October, thank new business orders

[I]  Govt delays implementation of retaliatory tariffs on US goods till Dec 17

[I]  Power sector to attract Rs 11.56 trillion investments in five years

[I]  European Union may widen scope of testing for Indian marine products

[I]  50 Indian items hit as US scraps duty-free privilege on 90 products' import

[I]  Gold demand jumps 10% in Q2, but the festive season may not be that rosy

[I]  'Investors may get an opportunity to buy banks, NBFCs at lower levels'

[I]  No need to pay customs duty on imported gifts valued below Rs 5,000

 

MARKETS (06:45 am)

[I]  SGX NIFTY Fut: 10493;  USDINR DGCX: --;  DJIA Mini: 25303;  FTSE 100 Fut: 7101;  NIKKEI 225 Fut: 21968;  EUR-USD: 1.1400; Crude Oil (WTI): 63.31;  Gold (Spot): 1234

 

Best Regards, ARBIND

02 Nov 2018