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.
Asian shares slip, copper tumbles as worry takes toll (Reuters) An index of Asian shares fell on Wednesday as copper prices tumbled and another bomb scare in Europe and gunfire in the French capital hurt risk appetite, while bets that the Federal Reserve remains on track for a rate hike underpinned the dollar. Spreadbetters expected the weakness to carry over into European trade, with Britain's FTSE 100 expected to open down by 0.3%, while Germany's DAX and France's CAC were seen down as much as 0.7%.
UK politicians are calling for surveillance laws to be fast-tracked and are joining their US comrades in blaming Edward Snowden for leaking intelligence practices and making it easier for Islamic State (Isis) to hide its operations from being detected prior to the Paris attacks.
NYSE to eliminate "stop orders" from February (Reuters) Investors will not be able to make "stop orders" and "good till canceled orders" on the New York Stock Exchange and NYSE MKT from Feb. 26, the exchange said, as it looks to reduce risks during choppy trading. A "good till canceled order" is valid until an investor cancels it or the trade is executed, while a "stop order" allows an investor to buy or sell a stock when it exceeds a particular price. On Aug. 24, people had standing "stop orders" that they thought would protect them, but the shares crashed through the "stop orders" and investors were automatically sold out of positions at prices well below where their "stop order" stood. See the order.
Energy demand to outpace National Grid supply in 2016 - Centre for Policy Studies (City A.M.) The closure of energy plants across the country means the UK is on the verge of an energy crisis, according to a report published by the Centre for Policy Studies today. Coal-fired plants due to close in March next year mean that the 54,000 megawatts of forecast demand will not be covered by the National Grid's output of 52,000MW. Recent tax hikes on carbon producing plants and changes in regulation mean that coal-fired plants have closed earlier than clean energy replacements were able to come online.
Chief Suspect Is an ISIS Militant Whose Own Family Wished Him Dead (The New York Times, MSN) When the family of Abdelhamid Abaaoud received word from Syria last fall that he had been killed fighting for the Islamic State, it rejoiced at what it took to be excellent news about a wayward son it had come to despise. "We are praying that Abdelhamid really is dead," his older sister, Yasmina, said at the time.
Dozens killed in Nigeria market bombing (Al Jazera) More than 30 people are dead, 80 wounded after evening blast rips through market area of Yola in east Nigeria. There was no immediate claim of responsibility but the blast bore the hallmarks of Boko Haram, which has killed thousands over the last six years in its bid to create a state adhering to strict Sharia law in northeast Nigeria.
Putin's Deal for Ukraine Isn't Enough (Bloomberg) Russian President Vladimir Putin has suggested that his country is willing to reconsider its stance and give Ukraine a break on a $3 billion bond that comes due in December. The West should see Putin's offer and raise him: Russia should do more to ease a crisis of its own making.
Fear Spreads as China's Finance Firms Face Arrests (Bloomberg) The high-drama highway arrest of a prominent hedge fund manager. Seizures of computers and phones at Chinese mutual funds. The investigations of the president of Citic Securities Co. and at least six other employees. Now, add the probe of China's former gatekeeper of the IPO process himself. The arrests or investigations targeting the finance industry in the aftermath of China's summer market crash have intensified in recent weeks, creating a climate of fear among China's finance firms and chilling their investment strategies.
Obama Says Bold Steps Needed to Cut South China Sea Tension (Bloomberg) Bold steps need to be taken to lower tensions in the South China Sea, U.S. President Barack Obama said Wednesday in Manila, affirming his support for the Philippines' effort to settle its territorial dispute with China through international arbitration.
Another two Brazil dams 'at risk of collapsing' (BBC News) Brazilian mining company Samarco says two dams it uses to hold waste water from iron production are damaged and at risk of collapsing. One of the company's other reservoirs burst earlier this month, flooding dozens of homes in the south-eastern state of Minas Gerais. Eleven people were killed and 12 are missing presumed dead in that earlier event.
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