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posted on 13 June 2017

Early Headlines: Asia Stocks - Dollar - Oil - Gold All Up, Will Trump Fire Mueller?, ACA Enrollment Down, Trump Wall St Rules Revamp, Denmark Is Killing Tesla, And More

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Early Bird Headlines 13 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.13

U.S.

  • The Memo: Trump allies turn fire on Mueller (The Hill) See also next article. Prominent conservatives including former Speaker Newt Gingrich fired off salvos at special counsel Robert Mueller on Monday, insisting that the man leading the probe into allegations of links between the Trump campaign and Russia is out to damage the president. But the wave of criticism sparked other Republicans to warn that any concerted push against the special counsel could be politically disastrous for the White House. John ‘Mac’ Stipanovich, a veteran GOP operative in Florida with ties to the Bush family, said:

“Can you think of one thing that Trump could do worse than fire Bob Mueller? It would be catastrophic for him. Not uncharacteristic, but catastrophic."

  • Trump friend says president considering firing Mueller (The Hill) A friend of President Trump said Monday that Trump is considering firing special counsel Robert Mueller, who is leading the FBI investigation into potential ties between the Trump campaign and Russia. Chris Ruddy told PBS’ Judy Woodruff on PBS NewsHour.

“I think he’s considering perhaps terminating the special counsel. I think he’s weighing that option. I personally think it would be a very significant mistake, even though I don’t think there’s a justification ... for a special counsel."

  • Iowa Asks U.S. for Obamacare Help Facing ‘Collapse’ of Market (Bloomberg) Facing what it called a “collapse" of its Obamacare market next year, Iowa is asking the Trump administration to let it reallocate millions of dollars and create a stopgap program that would provide health insurance options for 72,000 Iowans covered by the Affordable Care Act. Under the proposal made public on Monday, the state would use $352 million in federal money to provide backup funding for insurers and overhaul Obamacare’s subsidies for consumers next year. The state would also create a single standardized plan that insurers would offer.

  • Obamacare enrollment slides to 10.3 million (CNN) Some 10.3 million people actually enrolled in Obamacare, as of mid-March, Trump administration officials said Monday. That's down from the 12.2 million who signed up for coverage when open enrollment ended on January 31. It's not uncommon for the numbers to drop since some consumers select plans, but don't complete the enrollment process by paying their first month's premium. But this is an apples to oranges comparison:

The report, however, doesn't give a full picture of how many people enrolled since it only includes those with plans that started in January or February. Americans who signed up in the final two weeks of open enrollment did not begin coverage until Mar 1.

The changes, outlined in a report released Monday evening by the Treasury Department, urge federal agencies to re-write scores of regulations that bankers have frequently complained about in the seven years since the passage of the Dodd-Frank Act. They include adjusting the annual stress tests that assess whether lenders can endure economic downturns, loosening some trading rules and paring back the powers of the watchdog that polices consumer finance.

The Treasury said its plan was designed to spur lending and job growth by making regulation “more efficient" and less burdensome. Unlike the bill passed last week by House Republicans, the report consistently calls for most Obama-era rules to be dialed back, not scrapped.

UK

  • Why Britain is a Flawed Democracy (Craig Murray) The shaded area at the extreme right represents the period in which election law obliged the broadcasters to give fair and balanced coverage during the election campaign. The result is obvious. Of course, it has not been that fair and balanced. We can identify four definite areas where it has been anything but, says the author.

Denmark

  • Denmark Is Killing Tesla (and Other Electric Cars) (Bloomberg) The electric car has dropped out of favor in the country that pioneered renewable energy. Sales in Denmark of Electrically Chargeable Vehicles (ECV), which include plug-in hybrids, plunged 60.5% in the first quarter of the year, compared with the first three months of 2016, according to latest data from the European Automobile Manufacturers Association (ACEA). That contrasts with an increase of nearly 80% in neighboring Sweden and an average rise of 30% in the European Union. The reason? The government removed tax incentives for ECVs.

Russia

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