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posted on 24 January 2018

Early Headlines: Asia Stocks Up, Dollar Down, Oil Mixed, Gold Up, Global Expansion, Pacific Deal WO US, Dreamers Cast Adrift, CFPB Not Assuming Bad Guys, Trump's Coal Stumble, And More

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Early Bird Headlines 24 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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‚ÄčGlobal

asia.pac.2018.jan.24

With Vice President Mike Pence receiving a hero's welcome in Jerusalem from Prime Minister Benjamin Netanyahu but a cold shoulder from Arab leaders from Palestine to Jordan, Palestinian Authority President Mahmoud Abbas heads to Brussels to meet Europe's foreign ministers. It's a clear end run around Trump's flailing efforts to broker peace in that corner of the Middle East.

  • El-Erian: The Good Economy Should Continue (Financial Advisor) Mohamed El-Erian convinced some in an audience of financial professionals at the Inside ETFs conference on Monday that the U.S. market is not in a bubble. See also next article.

High returns should continue in 2018, although it will be a bumpier ride than last year, said El-Erian, chief economic advisor at Allianz SE and former president of President Obama’s Global Development Council.

The combined gross domestic product of the "CTPP ex-U.S." agreement amounts to $12.6 trillion, or 15.8 percent of world GDP. The TPP agreement, which collapsed after the United States pulled out, would have totaled $32 trillion in GDP, or 40 percent.

U.S.

Senate Democrats say there’s no appetite in their caucus for forcing another government shutdown if Republicans refuse to agree to an immigration deal by a March 5 deadline.

Democratic senators who are mulling presidential bids in 2020 haven’t yet entirely backed away from shutdown threats, which could help them rev up support among the party base, but other Democrats have soured on it as a tactic.

  • CFPB Chief Mulvaney Says Days of ‘Pushing the Envelope’ Are Over (Bloomberg) The acting head of the U.S. Consumer Financial Protection Bureau pledged to tone down the agency’s aggressive regulatory and enforcement stance, a posture that has been decried by many of the companies it oversees. Writing an op-ed in The Wall Street Journal, Mick Mulvaney said he would continue to make sure the bureau enforces consumer protection laws. But, he added, it will not assume that “the bad guys" are the financial services firms it supervises -- a belief he attributed to the Democrats who had run the CFPB since it was created in 2010.
  • Trump Signs ACA Tax Blocker Bill (Think Advisor) President Donald Trump has signed an anti-government shutdown bill that will eliminate $12.7 billion in Affordable Care Act health insurer fee taxes for 2019. The new "Extension of Continuing Appropriations Act, 2018" (ECAA) will also:
  • Give the federal government official permission to spend money, and continue with normal operations, until Feb. 8.

  • Extend funding for the Children's Health Insurance Program for six years.

  • Push the scheduled start date of the ACA Cadillac plan tax, or 40% excise tax on high-cost employee health benefits packages, back to 2022, from 2020.

  • Suspend collection of the ACA medical device tax for two years.

  • Sanders 55%, Trump 42%
  • Biden 57%, Trump 40%
  • Winfrey 51%, Trump 42%
  • Exclusive: Trump's coal job push stumbles in most states - data (Reuters) President Donald Trump’s effort to put coal miners back to work stumbled in most coal producing states last year, even as overall employment in the downtrodden sector grew modestly, according to preliminary government data obtained by Reuters.

coal.jobs

India

China

Canada

  • Breakingviews - Canada’s insurance policy on NAFTA isn’t loony (Reuters) Canadian officials are eager to keep alive the North American Free Trade Agreement. And if they fail, there’s an insurance policy. Even though a U.S. pullout would affect Canadian exports amounting to nearly 20% of the country’s GDP, Ottawa has other trade pacts in the works, and a flexible currency would help cushion any blow.

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