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posted on 09 January 2018

Early Headlines: Asia Stocks And Oil Up, Dollar Flat, Gold Down, More Net Neutrality, Perry Coal Subsidy Rejected, UK Pay Jumps For Jumpers, Japan Trade Deficit, Koreas Start Talks, And More

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Early Bird Headlines 09 January 2018

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, published Monday, Wednesday and Friday, 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.2018.jan.09

U.S.

  • Senate bill to reverse net neutrality repeal gains 30th co-sponsor, ensuring floor vote (The Hill) A Senate bill that would reverse the Federal Communications Commission’s (FCC) decision to repeal net neutrality received its 30th co-sponsor on Monday, ensuring it will receive a vote on the Senate floor. Sen. Claire McCaskill (D-Mo.) announced her support for the bill on Twitter, putting it over the top of a procedural requirement to bypass committee approval.

The bill, which is being pushed by Sen. Ed Markey (D-Mass.), would use Congress’s authority under the Congressional Review Act (CRA) to reverse the FCC’s rollback of its popular net neutrality rules.

  • Net Neutrality Loss Could Rekindle ISP Alternatives for Internet Access (Scientific American) The FCC’s decision to kill the 2015 Open Internet Order hands more control to large broadband providers, but internet users have other options for getting online. Could last month’s Federal Communications Commission vote might embolden broadband providers to manipulate how their customers access and use the internet? Although it remains to be seen whether that will happen, a small but growing number of users are taking matters into their own hands by exploring community- or municipal-owned, operated and funded internet access as a cheaper, faster and more neutral alternative to using large commercial internet service providers.
  • Prospect of President Winfrey thrills Dems (The Hill) A rousing speech by Oprah Winfrey touching on politics and the #MeToo movement provided a jolt of excitement to Democrats who believe she could reenergize the party and defeat Donald Trump in 2020.

Within minutes of her speech at the Golden Globes on Sunday, Winfrey was trending on social media. The next day, the possibility of a “President Winfrey" dominated the headlines and the cable news cycles.

While Winfrey has previously ruled out a political bid, her camp on Monday did little to temper the talk.

  • Federal regulators on Monday rejected a rule proposed by Energy Secretary Rick Perry that would have subsidized coal and nuclear.
  • The Federal Energy Regulatory Commission ordered regional transmission organizations to further investigate issues that could threaten the U.S. grid's resilience.

UK

Credit growth is not being driven by the borrowers rated as most likely to default, according to a joint article published today by economists from the Financial Conduct Authority (FCA) and the Bank of England.

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  • Job movers seeing steep rises in salaries says recruiters, but wider pay growth remains muted (City A.M.) People starting new jobs are receiving “steep increases in pay" as recruiters reported staff shortages among baristas for the first time, according to a closely watched survey of recruiters. Salary increases for permanent workers accelerated in December after a slight slowdown in the previous month, according to a report by the Recruitment and Employment Confederation (REC) to be published today. While the REC’s indicator adds yet more evidence of a tight labour market for employers, economists have been confounded by the lack of wage growth across the broader economy.

Japan

South Korea

  • Koreas start first official talks in two years (AFP) North and South Korea began their first official talks in more than two years on Tuesday, focussing on the forthcoming Winter Olympics after months of tensions over Pyongyang's nuclear weapons programme.

The talks in Panmunjom, the truce village in the Demilitarized Zone that divides the peninsula, came after the North's leader Kim Jong-Un indicated in his New Year's speech that he could send a delegation to next month's Games in Pyeongchang in the South.

Seoul responded with an offer of a high-level dialogue, and last week the hotline between the neighbours was restored after being suspended for almost two years.

China

  • Things are looking up for China's financial firms, UBS says (CNBC) Despite fears about China's financial stability, UBS is positive on Chinese financials this year, its head of China strategy explained Tuesday. Gao Ting told CNBC on the sidelines of the UBS Greater China Conference that default risks are declining:

"There's less worry about financial stability in China because a lot of other sectors are doing well."

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