Early Headlines: Major Collapse Forecast for Ukraine Economy, China Manufacturing Contraction Continues, Taiwan-China Talks, Another Miracle in Nepal and More

May 4th, 2015
in News, econ_news, syndication

Early Bird Headlines 04 May 2015

Econintersect: Here are some of the headlines we found to help you start your day. For more headlines see our afternoon feature for GEI members, What We Read Today, which has many more headlines and a number of article discussions to keep you abreast of what we have found interesting.

early-bird-301-180

Follow up:

Global

U.S.

  • Gunmen shot dead outside Dallas conference on Prophet cartoons (BBC News) Two gunmen have been shot dead after they opened fire outside a conference on cartoons of the Prophet Muhammad in a suburb of Dallas, US police say. A security guard was also injured. The event, organized by a group critical of Islam, included a contest for drawings of the Prophet.

EU

  • Draghi Starting Euro Bond Buying Turns Out Not to Be One- (Bloomberg) The sure thing of betting on rising eurozone sovereign debt with the ECB qe turns out to note be, well, a sure thing. Bonds made an unexpected move to the downside last week and early indications are that will continue further today.

UK

  • Cameron and Clegg plan new coalition (Financial Times) The two leaders are preparing for talks about a new coalition of Conservatives and Liberal Democrats to form a government after this week's election in which no one party is expected to gain a majority. The latest FT poll projects seats from the election for the leading parties: Conservatives 274, Labour 270, SNP 54 and Liberal Democrats 26. Econintersect arithmetic should be double checked, but a likely Labour/SNP coalition would have 24 more seats that the Cameron/Clegg duo. Is Cameron doing too little, too late?
  • These U.K. Election Nightmares Might Happen (Bloomberg) The election might produce no government or a government that is unable to operate.

Greece

The population now prefer almost permanent stagnation with no circuit breakers to giving up the euro. I find that amazing but then I have consistently argued that a Greek exit would be beneficial after the initial costly ructions. I also have no savings at stake (written to save some comments to that effect!).

Ukraine

  • World Bank forecasts massive Ukraine economy contraction (Deutsche Welle) Hat tips to Chuck Spinney and Roger Erickson. The World Bank has drastically revised the outlook for Ukraine's economy for 2015. The revision is down by more than 5% to -7.5%. The conflict in the east has become the main driving force behind the fall, according to a report from the World Bank.

China

china.HSBC.PMI.2015.apr

Taiwan

India

  • India soldiers die in Nagaland rebel attack (BBC News) Indian police say eight soldiers have been ambushed and killed by rebels in the north-eastern state of Nagaland. One of the attackers was killed. Violence in the region has escalated since the government broke off a ceasefire last month with the rebels.

Nepal

 


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