MACRO ECONOMIC NEWS

LIFE IS JUST A JOURNEY WITH SMILE AND WISHES. WISHING A JOLLY DAY AHEAD.

Macro Economic News 04 Jun 2019

 

The Confederation of Indian Industry urged the government to cut the corporate tax rate to 25%.Millions of Indians are desperately awaiting overdue monsoon rains as they struggle to secure drinking water amid a heat wave. Iran called U.S. sanctions "economic war" and said there could be no talks with the United States until sanctions are lifted. The U.S. economy has reached a 10-year milestone, and experts see the growth continuing. But looming risks include trade wars, interest-rate mistakes and the ballooning budget deficit. The U.S. factory sector slowed in May, as manufacturers grappled with renewed trade tensions. Mexico is exploring possible retaliation to the threat of U.S. tariffs on all of its exports. China and Mexico both signalled a willingness to negotiate with Washington over escalating trade issues.

 

FINANCIAL TIMES

[I]  China steel groups merger set to exceed US output

[I]  Tackling trade deficits needs global action, Aso warns

[I]  Finland’s new coalition vows to end austerity

[I]  Scientists sound alarm on using gene-editing technique in babies

[I]  China warns of difficulties facing students in US

[I]  Indian business presses Modi to speed up economic reforms

[I]  Italian PM threatens to quit in public spending row

[I]  Mexican officials race to neutralise Trump’s tariff threat

[I]  UK should be cautious on minimum pay

 

REUTERS

[I]  CII seeks tax rate cut in budget as growth slows

[I]  Japan, U.S. to hold working-level trade talks June 10-11

[I]  Oil prices fall amid economic slowdown, despite ongoing OPEC supply cuts

[I]  India awaits monsoon rains as reservoirs begin to run dry

[I]  Iran calls U.S. sanctions 'economic war', says no talks until they are lifted

[I]  U.S. moving toward major antitrust probe of tech giants

[I]  UK shoppers slash spending in May - BRC

[I]  Policymaker suggests U.S. trade war may test Fed's 'patience'

[I]  South Korea's first quarter GDP revised down, adds pressure for rate cut

 

BLOOMBERG 

[I]  Silicon Valley Battered as Washington Turns Up Antitrust Heat

[I]  Trump Hints at ‘Big’ Trade Offer If Britain Breaks Free From EU

[I]  Treasuries Rally Accelerates as Bets Build on 2019 Fed Rate Cuts

[I]  Trump Can’t Gloat About China Stock Crash in Latest Trade Battle

[I]  Fed's Bullard Says Rate Cut May Be Needed ‘Soon’

[I]  Singapore PMI Drops Below 50 for First Time in Almost 3 Years

[I]  Fed Easing Bets Surge, RBA Set to Cut, Factory Weakness: Eco Day

[I]  Loans That Can Save the World Finally Gain Ground in Asia

[I]  Australia Central Bank Set to Cut Rates to Fresh Record Low

[I]  U.S. Labor Churn From Aging Population Seen Peaking in 2023

[I]  U.S. Leveraged Loans Take Biggest Loss in 2019, Outperform Junk

 

WALL STREET JOURNAL

[I]  After Record-Long Expansion, Here’s What Could Knock the Economy Off Course

[I]  Low-Inflation Trap That Ensnared Japan and Europe Worries Fed

[I]  U.S. Factory Activity Cooled in May

[I]  Mexico Warns of Retaliation for U.S. Tariffs

[I]  China, Mexico Signal Willingness to Step Up Trade Talks With U.S.

[I]  Trump’s Trade Levers Test Long-Term U.S. Alliances

[I]  Factories Stall on Strong Dollar, Trade Tensions

 

BUSINESS LINE

[I]  Delhi govt plans free travel for women in buses, Metro

[I]  GST Council may rationalise levy on textile items to boost sector

[I]  Draft copyright rules propose setting up an appellate board

[I]  Truck sales expected to get a fillip in FY20 second half ahead of BS-VI transition

[I]  India beats world in fintech adoption: EY

[I]  Agri Ministry projects record rice, wheat output for 2018-19

[I]  Monsoon inches closer, enters more parts of South Arabian Sea

[I]  RBI panel eyes 10x growth in digital payments in 3 years

 

ECONOMIC TIMES

[I]  Prasad warns social media firms on platform misuse

[I]  With growth wavering, I-T wants mopup target eased

[I]  Nilekani-led committee recommends making all digital transactions to govt free

[I]  Need to shift to structural deficit instead of fiscal deficit: SBI economists

[I]  Bank fraud touches unprecedented Rs 71,500 crore in 2018-19: RBI

[I]  India to become 5th largest economy globally this year; 2nd in APAC region by 2025

[I]  M&A activity saw sharp decline in Jan-Mar quarter: EY India

[I]  India's manufacturing sector growth gains momentum in May: PMI

[I]  CII's 10-point agenda includes low corporate tax, IBC reforms

[I]  Indian industry seeks tax rate cut in state budget as growth slows

 

BUSINESS STANDARD

[I]  Nilekani panel wants cheaper digital payment to improve financial inclusion

[I]  Two-wheeler sales continue downhill journey in May due to liquidity crunch

[I]  Trade mis-invoicing cost India $13 bn in tax revenues in 2016, says report

[I]  $1-trn investments in each of next 5 years can spur GDP growth to 10%: CII

[I]  RBI tweaks large exposure framework for banks; NBFCs to come under scrutiny

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 12077;  USDINR DGCX: 69.2325;  DJIA Mini: 24820;  FTSE 100 Fut: 7185;  NIKKEI 225 Fut: 20325;  EUR-USD: 1.1253; Crude Oil (WTI): 53.11;  Gold (Spot): 1328

 

Best Regards, ARBIND
04 Jun 2019