MACRO ECONOMIC NEWS

SOME TRUST IN CHARIOT, SOME TRUST IN CHARIOTEER, SOME TRUST IN WEEKEND TOO. WISHING AN EXTRAORDINARY WEEKEND AHEAD.

Macro Economic News 19 Oct 2019

 

The European Union, China, India and several other countries teamed up to coordinate rules and standards for trillions of dollars of private and public "green" investment needed over decades to prevent irreversible climate change. G20 finance ministers likely to back OECD's digital tax proposal. China's third-quarter economic growth slowed more than expected and to its weakest pace in almost three decades. Economists say worst of China’s growth slowdown may be over. US Technology companies, are expected to post a nearly 8% drop in third-quarter profits. In their last public comments, the US FED left the door open to a further reduction in borrowing costs as they continue to assess how household spending, the main driver of U.S. economic growth, is holding up. ECB policy makers cool on more stimulus even if outlook worsens. Kuroda says BOJ could ease policy more, still has tools available. Japan's Aso says risks tilted to downside but encouraged by U.S.-China talks. IMF says deepening negative interest rates an option for Bank of Japan. IMF, World Bank leaders appeal for an end to trade wars and other issues.

 

FINANCIAL TIMES

[I]  Johnson confronts Tory grandees and Labour in Brexit battle

[I]  Slowing Chinese growth delivers blow to global economy

[I]  Trump plots his own ‘brilliant’ course in week of turmoil

[I]  Widespread protests bring Lebanon to a standstill

[I]  France under fire for blocking Balkan-EU accession talks

[I]  Buyers are back in London’s prime property market

 

REUTERS

[I]  China says will work with the U.S. to address each other's core concerns

[I]  Kuroda says BOJ could ease policy more, still has tools available

[I]  IMF sidesteps clash with U.S. over funding, delays shareholding changes to 2023

[I]  Negative interest rates: Bankers at the IMF meeting weigh in

[I]  Tech haves and have-nots face third-quarter tests

[I]  Fed's Clarida keeps rate-cut door open; others less sure

[I]  EU, China, others, team up to coordinate 'green' investment financing

[I]  IMF says deepening negative interest rates an option for Bank of Japan

[I]  Japan's Aso says risks tilted to downside but encouraged by U.S.-China talks

 

BLOOMBERG 

[I]  Venezuela GDP Sinks Amid Rampant Inflation: Central Bank Report

[I]  Against the Tide, Cocoa Growers Plan to Suspend Ethical Programs

[I]  ECB Policy Makers Cool on More Stimulus Even If Outlook Worsens

[I]  Worst of China’s Growth Slowdown May Be Over, Economists Say

[I]  The World’s Flush With Coffee, and Indonesia Wants to Add More

[I]  Traders Brace for Canadian Earnings, Election as Drama Heats Up

[I]  On the Streets, New IMF Is Getting Same Pushback as the Old One

[I]  Charting the Global Economy: The Week in Review

[I]  Traders Now Almost Certain That Fed Will Cut Rates This Month

[I]  In a Global Coffee Glut, Top Brazil Grower Runs Out of Beans

 

WALL STREET JOURNAL

[I]  Fed Eyes Another Rate Cut, Weighs When to Stop

[I]  Fed’s Kaplan Says Jury Is Out on Whether Economy Will Need More Support

[I]  Fed’s Clarida Says Central Bank Will ‘Act as Appropriate’ to Sustain Growth

[I]  China Economic Growth Slows Even More in Third Quarter

[I]  Top Economic Advisers Warned Trump on Tariffs Before China Truce

[I]  Manufacturing Sputters as Broader U.S. Economy Slows

[I]  Cooling Economy Drives China to Prioritize Growth

 

BUSINESS LINE

[I]  India to produce record cotton crop for 2019-20, predicts USDA

[I]  India’s employment challenge may worsen as robots snatch away jobs

[I]  Commerce Secretary calls meeting with export promotion councils next week

[I]  India looks to consolidate oil-spill handling equipment at ports

[I]  FSSAI Milk Survey: 7 per cent milk samples found unfit for consumption

[I]  China's GDP growth grinds to near 30-year low as tariffs hit ...

 

ECONOMIC TIMES

[I]  Did car sales go up or down? Data from govt stumps many

[I]  Diwali cheer for consumer durables sector

[I]  Tax assessment norms could be changed: PM

[I]  GST regulation puts companies in a fix

[I]  Brexit deal helps keep euro close to 7-week high

[I]  Individual wealth in India grows 9.62% in FY19: Report

[I]  Companies under NCLT asked to inform about export liabilities

[I]  Labour Ministry extends utility service status for three industries

 

BUSINESS STANDARD

[I]  Sebi tightens norms to deal with abrupt resignations of auditors

[I]  More flights to take to the skies this winter despite economic slowdown

[I]  MPC minutes: Members were concerned about growth, rate transmission

[I]  Companies push ahead with proposed share buyback plans after tax relief

[I]  Prices of tomato linked food items may spike 5-10% following crop loss

[I]  China eases M&A rules for listed companies to spur restructuring

[I]  IMF, World Bank leaders appeal for an end to trade wars and other issues

[I]  G20 finance ministers likely to back OECD's digital tax proposal

 

Best Regards, ARBIND

19 Oct 2019