MACRO ECONOMIC NEWS

HAPPINESS IS NOTHING BUT EXPERIENCING THE ONENESS, COMPASSIONATELY. WISHING A WONDERFUL WEEKEND AHEAD.

Macro Economic News 06 Jul 2019

 

The Indian government's annual budget statement included measures aimed at improving the investment climate but lacked any direct steps to stimulate a sagging economy, adding to pressure on the Reserve Bank of India to provide more immediate help. Robust June hiring suggests a decade of domestic growth isn’t under threat despite global headwinds. U.S. employers added 224,000 jobs to payrolls. The strong June employment report should ease Federal Reserve officials’ concerns about a sharper-than-expected U.S. economic slowdown, but still leaves the door open to an interest-rate cut at their meeting this month. Debt-collection lawsuits have increased in some state and municipal courts, following a decline during a regulatory tightening after the financial crisis. Canada’s jobless rate edged up and the number of people employed was roughly unchanged in June following two straight months of stronger-than-anticipated gains.

 

FINANCIAL TIMES

[I]  US jobs report raises doubts over deeper rate cuts

[I]  Minister ramps up efforts to find British Steel buyer

[I]  German factory data adds to European economic gloom

[I]  Japan defends whaling but loses taste for the meat

[I]  India seeks to cut budget deficit while boosting growth

[I]  Banks hit by wave of late PPI claim inquiries

 

REUTERS

[I]  India raises import tariffs, taxes on the super rich as it seeks growth

[I]  India plans $10 billion bank recapitalisation, help for shadow lenders

[I]  India considering relaxing foreign investment rules for several sectors

[I]  India raises import tariffs, taxes on the super rich as it seeks growth

[I]  India's cautious budget puts onus on RBI to spur growth

[I]  India proposes tax benefits for electric vehicles to promote sales

[I]  U.S. job growth surges, July rate cut expectations intact

[I]  Fed faces tougher task in deciding whether to cut U.S. rates

 

BLOOMBERG 

[I]  Maybe $5 Trillion Is All That Can Be Wrung From Stocks This Year

[I]  Strong U.S. Hiring Rebound Dilutes Case for Larger Fed Cut

[I]  U.S. Says Trade Talks Resuming as China Demands End to Tariffs

[I]  Brent Crude Short-Selling Rises to 5-Month High

[I]  EU Officials Are Considering Mark Carney for Top IMF Job

[I]  Libya's Oil Company in Tripoli Calls for Rival to Be Disbanded

[I]  Argentina Is Said to Seek More FX Control Before IMF Review

[I]  Chicago Boosts Pension Payments, Only to See Debt Keep Growing

 

WALL STREET JOURNAL

[I]  U.S. Hiring Bounces Back, Easing Fears of a Jobs Slowdown

[I]  Recap: Jobless Rate Rises as Labor Force Grows

[I]  June Jobs Report Weakens Case for Larger Fed Rate Cut This Month

[I]  Judy Shelton, a Goldbug Who Bends to Fit Trump

[I]  Fed’s Powell Spoke With Trump in May Amid White House Criticism of Rate Policy

[I]  Debt Collectors Wage Comeback

[I]  Farmers Built a Soybean Export Empire Around China. Now They’re Fighting to Save It.

[I]  Real Time Economics Special Edition: U.S. Hiring Rebounds

[I]  Canada Jobless Rate Edged Up In June

 

BUSINESS LINE

[I]  RBI opens banks’ liquidity tap for NBFCs, HFCs

[I]  Making headway with raising FDI caps

[I]  New ideas: Global investor meet, social stock exchange

[I]  For India Inc, many challenges and constraints

[I]  FM proposes measures to pull NBFCs back to safety

[I]  Govt widens tax net; high-value cash withdrawals to attract levy

 

ECONOMIC TIMES

[I]  ITR filing just got a whole lot easier for you

[I]  Budget drags fuel prices back to square one

[I]  Govt expects Rs 90,000 cr dividend from RBI in FY20

[I]  Higher public holding: Get ready for share sales worth Rs 4 lakh crore

[I]  Forex reserve hits new high of $427.67 billion

[I]  Pros and cons of govt borrowing overseas

[I]  No direct measure, but can feel-good spur private investment?

[I]  Winners and losers: Who got how much in Sitharaman's maiden budget

[I]  Private push key to $10-trillion by 2030 target

[I]  Rs 3.75 lakh cr locked in excise, service tax litigation; amnesty, resolution scheme in offing: FM

 

BUSINESS STANDARD

[I]  This Budget has been made with a 10-year vision in mind: FM Sitharaman

[I]  Parliamentary standing committee presses for early implementation of DTC

[I]  Union Budget 2019: 'Digital India' push to achieve $5-trillion economy

[I]  Sitharaman's maiden Budget gives a massive boost to rail infrastructure

[I]  FM stresses the need to strengthen higher education system in Budget

[I]  Budget 2019: Sitharaman bets big on infra, commits Rs 100 trn over 5 years

 

Best Regards, ARBIND

06 Jul 2019