MACRO ECONOMIC NEWS

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Macro Economic News 18 May 2019

 

Indian NBFCs see no sign of liquidity crisis easing, await RBI's rescue act. China struck a more aggressive tone in its trade war with the United States, suggesting a resumption of talks between the world's two largest economies would be meaningless unless Washington changed course. With U.S.-China trade talks at an impasse, President Trump moved to tackle festering trade disputes with U.S. allies and North American neighbours. The administration agreed to end metals tariffs on Canada and Mexico, and postponed a decision on auto tariffs.  Stalled trade talks between Beijing and Washington are exacerbating a slump in the U.S. Farm Belt, and many farmers don’t believe an aid package being assembled by the Trump administration will be enough. U.S. household sentiment rose starkly at the beginning of May to its highest level in a decade and a half, driven by a brighter economic outlook.

 

FINANCIAL TIMES

[I]  Trump eases tariffs for allies as he focuses on China

[I]  US cuts Turkish steel tariffs by half to 25%

[I]  Labor party buoyed by narrow lead on eve of Australia poll

[I]  UK life science companies show signs of health

[I]  Voters want to move on but Brexit Britain is stuck

[I]  Employee ownership can make societies richer

[I]  Melbourne’s first-time homebuyers get a leg-up

[I]  Banking fraud complaints hit ‘all-time high’

[I]  Contactless spending continues to soar

 

REUTERS

[I]  U.S. lifts tariffs on Canadian, Mexican metals in boost for trade pact

[I]  Mexico says deal reached with U.S. on steel, aluminum does not impose quotas

[I]  China's tough rhetoric leaves trade talks with U.S. in limbo

[I]  IMF's Lagarde says U.S.-China trade war could be risk for world economic outlook

[I]  India flips to discount as gold prices gain; demand dips in top hubs

[I]  Trade talks between U.S. and China have stalled - CNBC

[I]  Saudi to supply an extra 2 million barrels a month to Indian Oil Corp from July

[I]  U.S. Treasury's Mnuchin defies House subpoena for Trump's tax returns

[I]  As Fed seeks policy advice, officials visit a struggling New Jersey city

[I]  Tariffs could lead to markdowns in retail shares

[I]  Fed's Harker in no rush on rates, worried about low inflation expectations

 

BLOOMBERG 

[I]  The Trade War Has Sunk Emerging Markets. There's More to Come.

[I]  Trump Says Freeing Fannie-Freddie From U.S. Control Is ‘Urgent’

[I]  From Recession to Record Rallies: Wall Street's Wild Trade Takes

[I]  Venezuela Sells $570 Million From Gold Reserve Despite Sanctions

[I]  Trade Jitters Kill Global Crude's Longest Bull Run Since 2011

[I]  Ag Economy Is So Bad That Farmers Hang on to Old Deere Tractors

 

WALL STREET JOURNAL

[I]  U.S. Seeks to Resolve Other Trade Disputes Amid China Impasse

[I]  U.S. Farmers Brace for Aid Package Some Fear Will Fall Short

[I]  U.S. Reaches Deal With Canada, Mexico to End Steel and Aluminum Tariffs

[I]  White House Delays Decision on Auto Tariffs for 180 Days

[I]  U.S. Consumer Sentiment Hits Highest Level in 15 Years

[I]  Fed’s Harker Says He’s Not in a Rush to Raise Rates

 

BUSINESS LINE

[I]  CBDT wants shell cos ‘revived’ to collect pending taxes

[I]  Indian textile exporters set to gain from US-China trade conflict

[I]  US-China trade war escalation can trigger another financial crisis

[I]  RBI to study panel views on digital payments

 

ECONOMIC TIMES

[I]  Govt won't give out info on black money

[I]  Niti Aayog wants to rein in the data barons

[I]  Are foreign investors falling out of love with India?

[I]  US-China trade tensions may lead to dumping of Chinese goods in India: Ind-Ra

[I]  Uzbekistan eyes $1.7 billion FDI including from India

[I]  Land, labour reforms to push economic growth: N K Singh

[I]  Shrimp production in Odisha hit by cyclone Fani

[I]  RBI to bank on data analytics for timely fraud detection

[I]  India probes alleged dumping of digital printing plates from China, Japan, 3 other nations

 

BUSINESS STANDARD

[I]  Skilled immigrants only: US to replace green cards with Build America visa

[I]  Realtors say ruling on delayed handover of flats not one-size-fits-all

[I]  Silicon Valley IT firm sues US govt for denying H-1B visa to Indian

[I]  NBFCs see no sign of liquidity crisis easing, await RBI's rescue act

[I]  India's apparel exports to UAE decline 33% on higher import duty

[I]  Iron ore powers above $100 as supply crisis roils global market

[I]  China signals lack of interest in resuming trade talks with US

 

Best Regards, ARBIND

18 May 2019