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posted on 05 June 2017

Early Headlines: Asia Stocks Mixed, Dollar Steady, Oil And Gold Up, Comey Testimony, London Attack Aftermath, May May Not, Qatar Shunned, India Anger To US, China Service PMI Jumps, And More

Written by

Early Bird Headlines 05 June 2017

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.

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Global

asia.pac.2017.jun.05

U.S.

They say her string of remarks explaining her stunning loss in November coupled with the public remarks blaming the Democratic National Committee for the defeat - which many took as also critical of Obama - are hurting the party and making the 2016 candidate look bitter.

The Hill interviewed more a dozen Democrats about Clinton’s remarks, including many staunch Clinton supporters and former aides.

  • James Comey Senate testimony: America braces for a historic political moment (The Guardian) What the former FBI director tells a committee on Thursday could decide whether Trump survives his first term. The stakes have never been higher. The questions Comey will be asked by the Senate intelligence committee include whether Donald Trump tried to persuade him to stop an investigation into improper contacts between a top adviser and Russian officials, whether Trump sought to extract a vow of personal loyalty, and whether Comey was fired because he did not comply.

  • Five things lawmakers want to know from Comey (The Hill) Former FBI Director James Comey is scheduled to testify this week before the Senate Intelligence Committee in a blockbuster open hearing that is sure to be a media circus. Here are five questions lawmakers are likely to pose during Comey’s testimony:

  1. Did Trump pressure you to drop the investigation into Michael Flynn?

  2. Did Trump demand your loyalty as FBI director?

  3. Do you believe that the president’s actions were obstruction of justice?

  4. Are you aware of other attempts by the president to push back on the Russia investigation?

  5. Have you seen any evidence of collusion between Trump campaign associates and Russia?

UK

  • London Bridge attack: why the terror threat level was downgraded (The Conversation) It's difficult for security services to anticipate such a low-tech attack.

  • Eight minutes on London Bridge: years of training led to lightning police response (The Conversation) Eight minutes. That is the length of time from the start of the London Bridge attack to the three terrorists being killed by armed police. The Metropolitan Police Service is rightly being heralded for the speed, courage and effectiveness of its members in ending a terrorist atrocity. But the success in their response which prevented more people from being injured and killed is, besides individual bravery, about learning from previous terrorist attacks, training and resources. See also next article.

  • Oi, terrorists, cowards!’ Fighting back in London’s chaos (Associated Press) For eight agonizing minutes, the orders came from all directions, frantic and contradictory. Crowds scattered, sometimes directly into the path of the men trying to kill them. Police cars screamed past the attackers toward the van they had abandoned. Chairs, bottles and even a basket flew through the air as terrified onlookers tried to hold off the three men and make sense out of the senseless.

  • Is Theresa May an unlucky gambler, or just a bad one? (The Conversation) Calling an election was a risk, as was opting out of the BBC live debate. And the PM may now be having some regrets.

  • It’s sophisticated, but can you believe YouGov’s startling election prediction? (The Conversation) Polling organisation YouGov has caused a stir with its latest findings, which appear to defy practically everyone else’s 2017 general election forecasts. Analysis of its survey data suggested Theresa May’s Conservative Party would lose its majority if the election had been held on May 31. According to its findings, the Tories were ahead in 311 seats - 19 fewer than they won in 2015 and 15 short of the 326 needed to secure a majority in parliament.

Interestingly, YouGov’s overall estimates for the Tories are 85 seats below another major pollster, Michael Ashcroft. So what happened? How could one forecast show the Tories losing their majority, while another pollster shows May’s party sailing to an easy victory? Are we headed for another polling fiasco?

Click for large image.

Qatar

Russia

Flynn's ties to Moscow are under scrutiny in the United States amid allegations of possible Russian interference in the 2016 election. An oft-published photo of him sitting next to Putin at a gala dinner seems to hint he had close relations.

Flynn has declined to testify to the U.S. Senate Intelligence Committee about his Russian ties, invoking his constitutional right to avoid self-incrimination.

India

  • China copter in Indian skies? (The Hindu) A Chinese helicopter has violated Indian air space in Barahoti area of Chamoli district along the India-China border in Uttrakhand on Sunday. Indian Air Force (IAF) has launched a probe to ascertain the details. A view of the Himalayas in Chamoli. The Chinese helicopter entered Barahoti in the district. File photo Virender Singh Negi:

kashmir.raid.2017.june.05

  • On Climate Change, the United States Needs to Be Isolated, Not Appeased (The Wire) Hat tip to Sanjeev Kulkarni. This Indian publication's article is virulently anti-American in tone, something SK says he has not seen before from his country. The article suggests that a BASIC coalition can see the Paris Accord through successfully and provide global leadership, leaving the U.S. in isolation. (BASIC = Brazil, South Africa, India and China) Here is an excerpt from this article:

Trump said a country like India was demanding billions of dollars as a condition for fulfilling its commitments under the agreement. This is a lie plain and simple. While India’s submission did raise the expectation of international support, virtually all its measures announced and being implemented, are domestically financed. This is true of the ambitious National Solar Mission and more importantly, India is the only emerging economy to put a fairly high cess of Rs 400 a tonne on coal that goes into a Clean Energy Fund to finance renewable energy projects and energy efficiency projects. It is another matter that the funds are underutilised.

The point to be made is that despite its low level of per capita energy consumption, half of the global average, India is doing much more than most developed countries to meet the challenge of climate change.

Click for large image.

China

The upbeat performance of the services sector contrasted with the country's manufacturing sector. The Caixin/Markit Manufacturing PMI, released last week, fell to 49.6 in May, lower than a 50.1 forecast and April's 50.3.

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