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posted on 12 June 2017

Early Headlines: Asia Stocks Down, Dollar Down, Oil And Gold Up, Puerto Rico Votes For Statehood, Drug ODs Top US Killer, UK May Stay In Common Mkt, Macron Wins Big, India Cars To Go All Electric, And More

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Early Bird Headlines 12 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.12

U.S.

Pruitt, who as Environmental Protection Agency administrator successfully campaigned for the U.S. to quit the landmark Paris climate agreement, left Bologna Sunday, the EPA said in an emailed statement. The ministers have a news conference set for Monday. Jane Nishida, his acting assistant administrator, will attend the remainder of the meeting in his place, according to a spokesman for the G-7 talks, Davide Russo.

Overall, overdose deaths rose 11 percent last year, to 52,404. By comparison, the number of people who died in car crashes was 37,757, an increase of 12 percent. Gun deaths, including homicides and suicides, totaled 36,252, up 7 percent.

  • Trump Slams ‘Cowardly’ Comey as Sessions Offers to Testify (Bloomberg) President Donald Trump called James Comey “cowardly", days after the fired FBI director’s testimony to a Senate committee and as Attorney General Jeff Sessions offered to speak to the same panel to answer questions about alleged Russian meddling in the 2016 presidential election. Trump told his 32 million Twitter followers on Sunday:

“I believe the James Comey leaks will be far more prevalent than anyone ever thought possible. Totally illegal? Very ‘cowardly!’"

  • Senate GOP sees path to ObamaCare repeal (The Hill) A path is emerging for Senate Republicans to pass their ObamaCare repeal bill, even though there are major obstacles ahead. Critically, Senate moderates are indicating that they can agree to ending the additional federal funds for ObamaCare's expansion of Medicaid, albeit on a slower timetable than other Republicans want. A compromise on Medicaid funding would remove one of the biggest obstacles for the bill.

The moderates want the phase-out of the Medicaid funding to take seven years, while Senate Majority Leader Mitch McConnell (R-Ky.) proposed three years on Tuesday.

  • Melania Trump, Son Barron Move Into the White House (Bloomberg) After nearly five months of living apart, President Donald Trump's wife, Melania, announced Sunday that she and the couple's young son have finally moved into the presidential mansion at 1600 Pennsylvania Ave. Mother and son broke with tradition by living at Trump Tower in New York since the inauguration so that Barron, now 11, could finish the school year uninterrupted; the president lived and worked at the White House.

UK

  • May's Ministers Plot Softer Brexit to Keep U.K. in Single Market (Bloomberg) Some of Theresa May’s most senior ministers are working to moderate her plans for a hard Brexit, even suggesting the U.K. could remain in Europe’s single market and customs union, as the prime minister fights to stay in power. After her election gamble backfired, May is now so weak and reliant on the support of political rivals inside and outside her Conservative Party that she’ll be unable to force through her vision of a clean break with the European Union, according to three senior government officials.

  • The World’s Unlikeliest Socialists (Bloomberg) Kensington Palace is the official residence of Britain’s future king, William. The West London district is home to bankers, celebrities and aristocrats of all nations drawn to its immaculate Georgian squares, tasteful luxury shops and easy access to the green spaces of Hyde Park. Even in one of the world’s most expensive cities, the cost of admission is eye-watering: 1.3 million pounds ($1.7 million) is the price of the median home, with the finer places going for many times that.

Despite those blue-blooded credentials, Kensington rejected the Conservative Party for the first time ever in last week’s election. The Labour Party, led by unabashed socialist Jeremy Corbyn, won by 20 votes out of 39,000.

France

Macron’s year-old party, Republic on the Move, won about 31.5 percent of the vote, almost 10 percentage points ahead of the Republicans, according to the Interior Ministry, with 89 percent of the vote counted. The result would give Macron’s backers between 415 and 455 seats out of 577 in the lower house of parliament, according to projections by Ipsos.

The results -- which need to be confirmed in the second round of voting next Sunday -- would give Macron the biggest majority in the Assembly since 1993. That offers the 39-year-old president the power to push through his recipe for fixing France over the next five years and face the consequences if he fails.

Russia

  • Russia’s Lavrov, U.S.’s Tillerson discussed Qatar by phone

  • Officials agreed to assist in easing tensions in Middle East

India

Australia

  • The Finkel Review at a glance (The Conversation) The long-awaited report from Chief Scientist Alan Finkel into Australia’s National Electricity Market was released today. The key recommendation is the adoption of a Clean Energy Target. This mandates that energy retailers provide a certain amount of their electricity from “low-emissions" generators - sources that produce emissions below a threshold level of carbon dioxide per megawatt.

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