MACRO ECONOMIC NEWS

DIVINE TAKES CARE OF ALL NEEDS AND WORRIES. WISHING A COMFORTING DAY AHEAD.

Macro Economic News 18 Jan 2019

 

Britain's last-minute scramble to shape an EU exit, its biggest policy upheaval in half a century, stalled as Theresa May and Jeremy Corbyn dug in their heels for competing visions. U.S. officials are debating ratcheting back tariffs on Chinese imports as a way to calm markets and give Beijing an incentive to make deeper concessions in a trade battle that has rattled global economies. A gauge of layoffs across the U.S. fell last week, signaling the labor market remains robust despite fears of slowing economic growth and the government shutdown. Optimism is waning among U.S. businesses as they grapple with a volatile stock market, rising borrowing costs, and concerns about trade and the government shutdown, according to a new Federal Reserve report. U.S. retail sales went gangbusters at the end of 2018, but that momentum could be hard to maintain as consumers deal with higher interest rates and confidence-eroding factors such as the government shutdown and a volatile stock market.

 

FINANCIAL TIMES

[I]  Statistical error puts Japan economic data in doubt

[I]  China’s fourth-quarter GDP: five things to watch

[I]  Smog threatens to suffocate India tourism industry

[I]  The UK needs a more realistic energy strategy

 

REUTERS

[I]  Italy government approves flagship welfare reforms  

[I]  Trump tariffs force tough choices at U.S. auto suppliers

[I]  UK in deadlock over Brexit 'Plan B' as May and Corbyn tussle

[I]  Britain searches for a Brexit 'Plan B'

[I]  Theresa May's government wins no confidence vote

[I]  U.S. Treasury Secretary Mnuchin weighs lifting tariffs on China - WSJ

 

BLOOMBERG 

[I]  Putin’s Push to Dump Dollar Proves Hard Sell With Russia Inc.

[I]  The World's Most-Visited City Faces a Battle Against Toxic Smog

[I]  Brexit Battle Lines Harden as May Stumbles in Search for a Deal

[I]  ‘Goldilocks Economy’ References Are Doomed as the Storms Set In

[I]  Foreign Investors Are on a Record China Property Spree

[I]  Trump's Trade War Forces Chinese Firms to Adapt or Die

[I]  Japan’s Inflation Slows Again as Cheaper Oil Undermines the BOJ

[I]  More BOJ Watchers See Kuroda Locked In to Policy for 2019

 

WALL STREET JOURNAL

[I]  U.S. Debates Lifting China Tariffs to Hasten Trade Deal, Calm Markets

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

[I]  One Year Later, Benefits From Corporate Tax Cut Seem Muted

[I]  Fed Says Student Debt Has Hurt the U.S. Housing Market

[I]  Fed’s Beige Book Shows Concerns Mounting Among U.S. Businesses

[I]  Fed’s Quarles Upbeat on U.S. Economy

[I]  Business Worries About Climate Intensify. Actions to Fix it, Not So Much.

[I]  After a Strong 2018 for Retail Sales, Caution Flags Pop Up

 

BUSINESS LINE

[I]  To ease liquidity, India Inc wants RBI to cut CRR and repo rate

[I]  Standalone ‘exporting’ power plants will qualify as SEZs

[I]  May struggles to keep Brexit on track as deadlock continues

[I]  Strong rural demand led to double-digit volume growth

[I]  GDP growth likely to be a tad higher at 7.5% in FY20: India Ratings

[I]  Deadline for submission of bids for oilfield auctions extended again

[I]  Print media companies’ operating profit to go up next fiscal: Crisil

 

ECONOMIC TIMES

[I]  An Indian tax plan has MNCs running scared

[I]  RBI-industry meet: India Inc pitches for rate cut to prop up growth

[I]  India is becoming "laboratory" for American companies, says US expert

[I]  India can now soon start export of incense sticks to Europe

[I]  FY20 GDP pegged at 7.5%, says India Ratings

[I]  Niti Aayog bats for direct benefit transfer to farmers

 

BUSINESS STANDARD

[I]  I-T dept holds back Rs 20,000 crore in tax refunds to private, PSU firms

[I]  M&As nearly doubled to $100 billion in 2018; highest in value after 2013

[I]  Do not want cryptocurrencies spreading like contagion: RBI tells SC

[I]  Sharp increase of 30-35% in silver import as demand show vibrancy

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 10985;  USDINR DGCX: 71.2350;  DJIA Mini: 24415;  FTSE 100 Fut: 6810;  NIKKEI 225 Fut: 20674;  EUR-USD: 1.1395; Crude Oil (WTI): 52.65;  Gold (Spot): 1292

 

Best Regards, ARBIND

18 Jan 2019