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posted on 09 October 2015

Early Headlines: Biggest Global Recession Since 1960, China Bond Bubble, India's Fiery Lake, New Record For Financial Jobs In London And More

Written by John Lounsbury

Early Bird Headlines 09 October 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

Global

global.gdp.growth.dollars.1982.2015

U.S.

  • Closing a Hospital, and Fearing for the Future (The New York Times) A total of 58 rural hospitals have closed in the United States since 2010, according to one research program, and many more could soon join the list because of declining reimbursements, growing regulatory burdens and shrinking rural populations that result in an older, sicker pool of patients. See 57 Rural Hospital Closures: January 2010 - Present (University of North Carolina). One more hospital just closed after the UNC report was released.

EU

UK

India

  • Coffee Day eyes $1 billion valuation with biggest Indian IPO in 3 years (The Economic Times) India's Coffee Day Enterprises Ltd, which runs the nation's biggest coffee chain, said it is eyeing a valuation of as much as 67.5 billion rupees ($1.04 billion) based on the issue price of its initial public offering next week that will be the biggest in the local market in nearly three years.

  • Sensex rallies over 300 points; Nifty reclaims 8200 levels (The Economic Times) The S&P BSE Sensex surged over 300 points in trade on Friday tracking Asian markets, which were trading higher after US Federal Reserve minutes confirmed that the central bank is in no hurry to hike interest rates this year. The Sensex faded a little before the market close. As can be seen in the chart below from Investing.com the market has recovered to the middle of the gap down in August. This is a critical juncture - gaps are filled in most counter moves and then become support going forward. If the current rally stalls here and pulls back that is generally a very bearish sign. Click on chart for latest live streaming data from Investing.com.

sensex.4.mo.2015.Oct.09

  • This lake in India is straight out of a horror movie (news.com.au) Hat tips to Roger Erickson and Sanjeev Kulkarni. Chemical contamination is so bad on Bellandur Lake in Bangalore, India that it foams over onto surrounding land and roadways. It is also polluted with sewage so the foam smells terrible as well. From time to time the lake actually self-ignites.

China

A new study has warned that a third of all men currently under the age of 20 in China will eventually die prematurely if they do not give up smoking.

The research, published in The Lancet medical journal, says two-thirds of men in China now start to smoke before 20.

Around half of those men will die from the habit, it concludes.

The scientists conducted two nationwide studies, 15 years apart, covering hundreds of thousands of people.

In 2010, around one million people in China died from tobacco usage. But researchers say that if current trends continue, that will double to two million people - mostly men - dying every year by 2030, making it a "growing epidemic of premature death".

  • If You Thought China's Equity Bubble Was Scary, Check Out Bonds (Bloomberg) Hat tip to John O'Donnell. As a rout in Chinese stocks this year erased $5 trillion of value, investors fled for safety in the nation's red-hot corporate bond market. They may have just moved from one bubble to another. So says Commerzbank AG, which puts the chance of a crash by year-end at 20 percent, up from almost zero in June. One of the growing risk factors is increasing investor leveraging to buy more bonds. Deleveraging often doesn't unwind in an orderly fashion.

china.bond.leverage

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