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posted on 08 July 2017

Early Headlines: Low Global Mkt Correl, Trump Business Profits From Pres, US G20 Outsider, US Low Wage Growth, CDC Cuts, Saudi Money Shrinking, Huge Battery Farms In Oz, And More

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Early Bird Headlines 08 July 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

U.S.

  • Resigning ethics director says Trump businesses appear to profit from presidency (The Hill) Walter Shaub, the leader of the federal government’s ethics office who announced his resignation on Thursday, suggested that Trump-brand businesses are benefiting from Donald Trump's presidency. When asked during a CBS News interview on Thursday whether Trump's businesses were benefiting from his time in office, Shaub said he "can't be sure". He elaborated:

"I can't know what their intention is. I know that the effect is that there is an appearance that the businesses are profiting from his occupying the presidency. And appearance matters as much as reality."

trump.g20.group.photo

trump.networking.at.g20

  • The economy added 222,000 in June but wage growth remains muted at just 2.5 percent annually.
  • Even with the low inflation, the Fed plans on raising interest rates later this year.
  • Wall Street worries that the combination of low inflation and tighter monetary policy could lead to recession.

The Atlanta-based CDC, which has a budget of about $12bn, investigates disease outbreaks, researches the cause and frequency of health problems and promotes prevention efforts. It is the only federal agency based outside Washington DC and has nearly 12,000 employees and 10,000 contractors worldwide.

  • Amazon only boasts a mere 5 percent share of total retail sales, excluding food, across the country, according to data from the U.S. Census Bureau.
  • But Amazon's market share is going to rapidly accelerate, MKM Partners' Rob Sanderson writes in a note to investors.
  • This, as other big names in the retail space are seeing their margins shrink as these companies try to compete with Amazon.com.

EU

  • 'Battle mood' EU threatens bourbon whiskey in US steel trade row (The Guardian) The European Union is prepared to impose countermeasures within days if Donald Trump takes action to protect the US steel industry, the European commission president has said. In one of the most serious warnings of a tit-for-tat response if the US resorts to protectionist measures, Jean-Claude Juncker said the EU was “in elevated battle mood". Targets could include American whiskey exports.
  • The ECB is Fixated on (Lack of) Inflation (The Daily Shot)

Saudi Arabia

Russia

Australia

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