MACRO ECONOMIC NEWS

MAY YOU RECEIVE WHATEVER YOU ASK FOR. WISHING A HEAVENLY DAY AHEAD.

Macro Economic News 10 Jun 2020

 

Think tank believes that the universal basic income is the key to U.K. Recovery. “Everything was falling into place, and now it’s all paused.” Covid-19 brought a crushing end to one of the most promising economies in recent memory for black workers and business people. That’s one cause of the protests that have roiled the nation. A top economic adviser to President Trump said the White House “would definitely support” another round of aid to shore up the economy as U.S. businesses begin to reopen amid the coronavirus pandemic. The central bank reduces minimum and raises maximum loan limits in an effort to reach more small and midsize businesses. France unveils €15bn aid package to ‘save’ its aerospace industry while Japan's machinery orders, wholesale prices sink as pandemic hits business spending and China producer price deflation deepens on global demand slump. South Korea jobless rate jumps to 10-year high amid pandemic although Australian consumer confidence rebounds as infections contained.

 

Govt has given more leeway and allows startups to issue sweat equity for 10 years after registration. Early-stage investments rise during lockdown, even as investments in start-ups plunge 57% in May while FDI from Cayman Islands to India jumps three-fold to $3.7 bn in 2019-20. India Inc woos labourers with healthcare, hostels to get them back at work. Ironically, India is ill-equipped to live with the virus as the pandemic’s total human cost there has in many ways already been among the worst in the world.

 

FINANCIAL TIMES

[I]  Retail investors bet on bankrupt US companies rising again

[I]  France unveils €15bn aid package to ‘save’ its aerospace industry

[I]  Fed faces tricky balancing act in recession response

[I]  Covid-19 will hit developing countries hard

[I]  Economists are hunting for alternative indicators of recovery

[I]  India is ill-equipped to live with the virus

 

REUTERS

[I]  Turkey relaxes coronavirus restrictions further, vows to boost economy

[I]  Japan's machinery orders, wholesale prices sink as pandemic hits business spending

[I]  China producer price deflation deepens on global demand slump

[I]  Russia, China build case at U.N. to protect Iran from U.S. sanctions threat

[I]  Argentina stirs up giant soy market with state takeover

 

BLOOMBERG 

[I]  China’s Factory Deflation Deepened in May Amid Slow Recovery

[I]  Australian Consumer Confidence Rebounds as Infections Contained

[I]  Central Bank Reprieve, Fed Policy Levers, China’s Risks: Eco Day

[I]  South Korea Jobless Rate Jumps to 10-year High Amid Pandemic

[I]  Universal Basic Income Is Key to U.K. Recovery, Think Tank Says

[I]  Asian Central Banks Exhale as Volatile Capital Flows Stabilize

[I]  Argentina Mulls Export Sweetener to Bridge Gap in Debt Talks

[I]  Most Economists See Bank Of Japan Holding Off Major Action in June

 

WALL STREET JOURNAL

[I]  Coronavirus Obliterated the Best African-American Job Market on Record

[I]  White House Adviser Sees Another Stimulus Bill From Congress

[I]  Shoppers Surprise Retailers by Returning to Stores

[I]  Fed Makes Terms More Favorable for Main Street Lending Program

[I]  Recession in U.S. Began in February, Official Arbiter Says

[I]  Newsletter: It’s Officially a Recession

 

BUSINESS LINE

[I]  WTO: US, China ask India to roll back telecom tariffs

[I]  Micro, tiny units with no access to bank loans left in lurch

[I]  Low-touch and contactless are the new buzzwords for brands in the time of pandemic

[I]  Early-stage investments rise during lockdown, even as investments in start-ups plunge 57% in May

[I]  Road Ministry extends validity of vehicle, driver documents till Sept 30

[I]  Start-up companies given more leeway to issue sweat equity shares

 

ECONOMIC TIMES

[I]  Nepal renews call for talks with India

[I]  Global use of euro stabilizes near historic lows, ECB says

[I]  FDI from Cayman Islands to India jumps three-fold to $3.7 bn in 2019-20

[I]  Mumbai most expensive Indian city for expats, 19th most expensive in Asia: Survey

[I]  Some financial offences like bouncing of cheques may be decriminalised

 

BUSINESS STANDARD

[I]  IPO offers dry up amid Covid-19 scare; filings with Sebi lowest in 6 years

[I]  FM Nirmala Sitharaman tells banks to improve interest rate transmission

[I]  Govt allows startups to issue sweat equity for 10 years after registration

[I]  India Inc woos labourers with healthcare, hostels to get them back at work

[I]  New business premium of life insurance companies declines 25% in May

[I]  6 PSUs now 'fallen angels' after India's sovereign rating cut: Moody's

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 10085;  USDINR DGCX: 75.6650;  DJIA Mini: 27430;  FTSE 100 Fut: 6356;  NIKKEI 225 Fut: 23115;  EUR-USD: 1.1344; Crude Oil (WTI): 38.24;  Gold (Spot): 1716

 

Best Regards, ARBIND
10 Jun 2020