MACRO ECONOMIC NEWS

THERE ARE MANY HUMANS, WHAT THE WORLD NEEDS IS HUMANITY. WISHING A CARING WEEKEND AHEAD.

Macro Economic News 08 Jun 2019

 

The Reserve Bank of India diluted its guidelines on stressed assets and has now mandated banks to undertake a review of a borrower’s accounts within 30 days of default. British Prime Minister Theresa May stepped down as leader of the governing Conservatives. Mexico's government had reached a deal with the United States to avert a tariff war by pledging to take "strong measures" to contain the migration of mostly Central Americans crossing the southern U.S. border. NASA will allow private citizens to stay at the International Space Station (ISS) for month-long getaways at a cost of about $35,000 per night, the U.S. space agency said on Friday. Employers tapped the brakes on hiring in May, signalling companies are taking a more cautious approach at a time of cooling global growth and trade tensions and adding to other signs of a slowdown in the U.S. economic expansion. A series of well-intentioned government decisions since the 1960s has left us with today’s out-of-control higher education market.

 

FINANCIAL TIMES

[I]  Slowing US job growth spurs rate-cut debate

[I]  UK landowners prepare for Brexit

[I]  German central bank warns ‘lacklustre exports’ taking toll on economy

[I]  Putin says US ‘economic raiding’ could lead to global conflict

[I]  Freelancers face a looming tax nightmare

 

REUTERS

[I]  RBI relaxes stressed asset guidelines for lenders

[I]  India likely to receive lower rains in June, monsoon to pick up in Aug-Sept: official

[I]  UK's May steps down as party chief, igniting leadership race

[I]  U.S. sanctions target Iran petrochemicals, analysts see modest effect

[I]  Trump calls off tariffs on Mexico after deal on migration

[I]  Got $50 million for a vacation? NASA to open space station to private citizens

[I]  India flips to discount, premiums skid elsewhere as gold prices surge

[I]  Trade war, tariff threats to challenge G20 finance leaders' solidarity

[I]  U.S. and Russia trade blame over near collision in East Asian waters

[I]  Is the U.S. economy about to contract? Three charts say maybe not

[I]  Global Economy: Outlook turns sour as trade war drags on

[I]  U.S. gives Chinese imports more time before more tariffs hit

 

BLOOMBERG 

[I]  Two Epic Bull Markets Are Dueling Over the Fate of Global Growth

[I]  U.S. Payrolls, Wages Cool as Trade War Weighs on Economy

[I]  Trump’s Tariffs Have Already Wiped Out Tax Bill Savings for Average Americans

[I]  Worst May Be Yet to Come for U.S. Jobs as Trade War Intensifies

[I]  A Common Brazil-Argentina Currency? A ‘Distant Mirage’ For Now

[I]  Urgent Push for Digital Taxes Faces Hurdles: G-20 Finance Update

[I]  Central Bank Crusade to Spark Inflation Isn't Convincing Traders

[I]  Oil Optimism Slumps to 12-Week Low as Price Dips to Bear Market

[I]  Consumer Credit in U.S. Rises in April by Most in Five Months

 

WALL STREET JOURNAL

[I]  U.S. Added 75,000 Jobs in May as Hiring Slowed

[I]  Key Takeaways From the May Jobs Report

[I]  U.S., Mexico Reach Deal to Avoid Tariffs

[I]  Softer Labor Market Could Strengthen Case for Rate Cut

[I]  President Spoke With Fed Chairman Amid Public Campaign for Lower Rates

[I]  Trump Sees ‘Good Chance’ of Migration Deal With Mexico

[I]  The Long Road to the Student Debt Crisis

 

BUSINESS LINE

[I]  RBI issues revised norms to deal with stressed assets

[I]  Goods imported for manufacturing and sent for job work are eligible for concessional duty: CBIC

[I]  Paint makers see rosy year for decorative, protective segments; auto blues to continue

[I]  Pre-Budget talks: FM to meet industry captains on June 11

[I]  Regulatory sandbox: Watchdog may need to fine-tune certain proposals

[I]  MCA, SEBI ink agreement to tighten regulatory oversight

[I]  Individual investors — lambs being led to the slaughter

[I]  RBI lobs ball in banks’ court to deal with resolution

[I]  NPAs rise 43% in drought-hit Gujarat

 

ECONOMIC TIMES

[I]  RBI issues circular on NPAs, scraps 1-day default rule

[I]  Stage set for big-bang sale, 50 PSUs in first list

[I]  Indians are losing confidence in economy

[I]  Forex reserve swells by $1.8 billion to $421.8 billion

[I]  All disaster relief expenditure to count towards CSR

[I]  Govt planning e-registration for PM KISAN to speed up implementation

[I]  Draft law proposes 10-year jail term for dealing in cryptocurrency

[I]  Indians turn pessimistic as job worries weigh on confidence

 

BUSINESS STANDARD

[I]  Global majors, PE players pick up a larger slice of debt-laden Indian firms

[I]  RBI's revised NPA norms give banks 30 days from default for resolution plan

[I]  Student housing can attract $50-billion private investment, says report

[I]  RBI rate cut not likely to boost corporate lending, private sector's capex

[I]  Credit growth expected to stay slow despite RBI's interest rate cut: Fitch

 

Best Regards, ARBIND

08 Jun 2019