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posted on 17 November 2015

Early Headlines: Asia Stocks Surge, High Cost Of Terrorism, Syrians Not Welcome, Europe Inflation Rises, India Deflation And More

Written by Econintersect

Early Bird Headlines 17 November 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.



  • DNA from teeth discovered in Siberia suggest that an extinct human species lived there for 60,000 years (Business Insider) We have discussed this at least twice in the past year but this reports on some additional research results that establish a longer segment of history where Denisovans existed, possibly as much as 60,000 years. This variety of humans is distinct from Neanderthals and modern man. Interbreeding of the three groups has resulted in measurable amounts of DNA in modern humans today, with 2-3% Neanderthal DNA for European and up to 5% Denisovan DNA in east Asians and aboriginal Australians.


  • Why Fed's Lacker is worried about inflation (The Post and Courier) Jeffrey Lacker, president of the Federal Reserve Bank of Richmond, was the only member of the Fed's policymaking committee who voted to raise interest rates in September, and again in October. Lacker has long expressed skepticism on the benefits of the Fed's stimulus campaign, and has been concerned that inflation will begin to rise more quickly as the economy gains strength. Lacker refers to his views as "old-fashioned," emphasizing he sees little new in the current environment. He does not think that the relationship between employment and inflation has changed; that the Fed should consider other issues, like financial stability, in setting monetary policy; or that the economic health of other countries should play a larger role in the Fed's deliberations. Econintersect: What about the idea that raising rates (in a gradual manner) won't really change anything?

  • Execution rates in US drop to 24-year low (Al Jazeera) Drug shortages and legal battles have slowed the rate of executions, which remain legal in 31 states.

  • More than half the nation's governors say Syrian refugees not welcome (CNN) More than half the nation's governors -- 26 states -- say they oppose letting Syrian refugees into their states, although the final say on this contentious immigration issue will fall to the federal government.


  • ISIL's haunting threat: 'We will strike America at its heart' (USA Today) A new Islamic State video warns of deadly consequences in the United States or any other country that joins the French in their punishing airstrikes against the radical group's training camps and other facilities in Syria and Iraq.


  • Finance chiefs feel less confident due to eurozone woes (The Telegraph) CFOs are reluctant to spend even as profits improve, according to a recent poll of almost 1,300 bosses carried out by Deloitte. Optimism is at its weakest in northern European countries, including the UK.

  • Euro-Area Core Inflation at Two-Year High May Offer ECB Relief (Bloomberg) Euro-area core inflation increased to the highest since August 2013, offering the European Central Bank an unexpected reprieve. The rate -- which excludes volatile elements such as food and energy -- climbed to 1.1% in October, the European Union's statistics office in Luxembourg said on Monday. Economists predicted it would stay at an initial 1% reading.



  • London rents rise defies traditional Autumn slow down (City A.M.) London rents continued to climb in October, up 0.8%, hitting an average of £2,063 despite the seasonal slowdown usually associated with Autumn months. The data suggests that London's housing shortage, falling unemployment rate, and growing pay is the cause, according to the analytics company MIAC in its monthly Landbay Rental Index. So far this year the only decrease in average rents came between June and August, before increasing again in September, up 0.7%. This is the second year the trend has been bucked, with rents in 2014 rising every month except July, when they fell by just 0.1%.


  • What We Know About the Man Accused of Masterminding the Paris Attacks (Bloomberg) French investigators think they know who masterminded the deadliest terrorist assault in peacetime France: Abdelhamid Abaaoud, a 20-something Belgian who joined the ranks of the Islamic State a few years ago. The son of a Moroccan shopkeeper, familiar to the intelligence community for his high-profile presence on social media, Abaaoud is being studied by investigators as the man who orchestrated the seven attacks in the Paris area on Friday that left at least 129 people dead and hundreds more wounded. Abaaoud is also linked by French officials to a failed assault on a Paris-bound high-speed train in August and a plot to attack a church in the city in April. Belgian security officials began tracking him in March 2014 after he appeared in a video behind the wheel of a pickup truck dragging mutilated bodies to a mass grave in Syria.


  • October non-landed home sales up 60% from a month ago (The Business Times) Developers in Singapore sold 546 private non-landed homes in October, which represented a 60% rise from 341 in September, according to the Urban Redevelopment Authority (URA). But despite the improvement last month, the overall private residential market remains subdued as the effects of the cooling measures are now compounded by an economic slowdown and a looming interest rate hike in the US, JLL national director of research and consultancy Ong Teck Hui observed. With 6,383 units sold in the first 10 months of 2015, the full year figure is likely to be below last year's 7,316 units.


  • Bank credit growth still lingers in H1 as debt market soars (Business Standard) Bank credit growth continued to disappoint during first half of the current fiscal with an annual growth of just 8.4 per cent. But, even as business credit languished, debt markets soared and consumer credit was up sharply.

  • WPI Inflation in the negative for 12th straight month (The Hindu) Wholesale deflationary pressure eased a bit with inflation rate moving up slightly to -3.81% in October as pulses, vegetables and onions turned costlier. This is 12 month in a row when the inflation at wholesale level remained in the negative territory. The Wholesale Price Index-based inflation was -4.54% in September. In October last year, it was +1.66%.


  • China's Yunnan Coal Becomes Latest Miner to Struggle With Debts (Bloomberg) Yet another Chinese coal miner is struggling with debt payments as the slumping economy curbs demand and spurs defaults. State-owned Yunnan Coal Chemical Industry Group Co. and its businesses had 1.31 billion yuan ($205.6 million) of overdue loans as of Oct. 30 due to rising borrowings and a cash shortage, its unit Yunnan Yunwei Co. said in a Shanghai Stock Exchange statement dated Tuesday. China Chengxin International Credit Rating Co. lowered the parent's issuer rating to BB from AA on Nov. 13, and put the firm on notice for a possible further cut.


  • Australia's first Muslim Party aims for senate seats (BBC News) Australia's first party representing Muslims intends to contest senate seats at the next federal election. Launching the party in Sydney, founder Diaa Mohamed told Fairfax he wanted a louder voice for Muslims. "There are a lot of parties out there to specifically oppose Islam and Muslims, yet Muslims don't have any official representation," he said. Australia has a number of anti-Islam parties, including one backed by Dutch MP Geert Wilders.

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