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posted on 13 October 2016

Early Headlines: Asia Stocks Down, Food Waste, More Methane, Trump Fades More, Bear Market?, Libya Oil Surge, BoE Warns EU, US Attacks Yemen, China Exports Plunge, Nicole Eyes Bermuda And More

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Early Bird Headlines 13 October 2016

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.





  • Trump Slows GOP Defections as Lawmakers Led by Thune Retreat (Bloomberg) Donald Trump may have stanched the bleeding of Republican support for his embattled campaign, with several Republicans who had called on him to step down now saying they plan to vote for him. The reversals suggest that Trump may be on his way to containing the damage, at least within his party, caused by release of a 2005 tape in which he bragged about groping women. The most prominent about-face came from the No. 3 Senate Republican, John Thune of South Dakota, who over the weekend tweeted that Trump should step aside so his running mate, Mike Pence, could become the nominee. Thune said Tuesday night that he plans to vote for Trump anyway.

  • New wave of sexual harassment allegations threatens to sink Trump campaign (The Guardian) A series of women have come forward with claims about the Republican, while footage emerges of inappropriate remarks about a 10-year-old girl. Econintersect: We hesitate to put this on our reading list; it seems unlikely that all the allegations can be true. If you go to this article there are many more ugly headlines to click on. If you go there, don't say we didn't warn you.

  • HSBC: There's Now a Very High Chance of a 'Severe Fall' In U.S. Stocks (Bloomberg) Tuesday's big stocks drop may have just been the beginning. Or so says HSBC Holdings Plc technical analyst Murray Gunn. In a new note, Gunn says he is now on alert for a big dip in U.S. equities.



Click for larger image.




  • Libya’s Oil Production Set to Reach Three-Year High by December (Bloomberg) Libya’s oil production is set to reach a three-year high by December as fields restart and ports reopen after five years of armed conflict crippled sales. Output is now 540,000 barrels a day and will reach 900,000 barrels by the end of the year, Libya’s National Oil Corp. Chairman Mustafa Sanalla said Wednesday in Istanbul. That would be the highest production since June 2013, according to data compiled by Bloomberg.


  • US enters Yemen war, bombing Houthis who launched missiles at navy ship (The Guardian) Pentagon says radar sites were attacked after the destroyer USS Mason came under attack and notes ‘we will respond to any further threat’. The sites were described as being involved in two missile attacks over the past four days on the destroyer USS Mason, operating out of the Bab al-Mandeb waterway between Yemen and east Africa. There was no immediate word on any casualties from the US attack on the radar sites, which the Pentagon noted came with the direct authorization of President Barack Obama.


  • Toyota's Passage to India (Bloomberg) Toyota has a problem with India. The world's biggest carmaker is a bit player in a country that's forecast to become the third-biggest auto market by 2020. Honda, Hyundai, and Mahindra & Mahindra each take a share of unit sales bigger than Toyota's 4.6%. In the compact car segment that dominates the local market, its position is even worse: The real Indian elephant in this room is Maruti Suzuki, which has almost half the country's auto market to itself and is now worth about 60% more than its Japanese controlling shareholder, Suzuki Motor. That dynamic helps explain why Toyota and Suzuki are burying a history of rivalry to start working together more closely. Maruti Suzuki's position in the Indian market looks formidable, but there are sooty clouds on the horizon. They need to clean up dirty emissions but do not have the capital to finance the change. That's where Toyota's huge investment in India comes to the rescue.



  • Exports fell 10 percent from a year earlier in September, the customs administration said Thursday

  • Imports declined 1.9 percent

  • In yuan terms, shipments declined 5.6 percent, imports rose 2.2 percent

  • Trade surplus fell to $42 billion


  • Category Four hurricane Nicole heading towards Bermuda (Reuters) Extremely dangerous Category Four hurricane Nicole was heading for Bermuda, the National Hurricane Center said late Wednesday. Nicole was located about 180 miles (290 kilometers) south-southwest of Bermuda and was packing maximum sustained winds of 130 miles per hour (215 km/h), the NHC said. The core of Nicole will pass over or near Bermuda on Thursday, the NHC added. GEI weather and climate blogger Sig Silber who is tracking this storm thinks it will be a high category 2 or low 3 when it makes landfall later today.

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