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posted on 07 February 2018

Early Headlines: Asia Stocks Mixed, Dollar Down, Oil And Gold Up, Bitcoin Hits Below $6k, SpaceX, GDPNow Drops, Refugees In US, EU Could Punish UK, Wealthy Leave India, Taiwan Quake, And More

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Early Bird Headlines 07 February 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.

early-bird-301-180


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‚ÄčGlobal

asia.pac.2018.feb.07

  • Bitcoin price falls below $6,000 as banker signals crackdown (The Guardian) The price of bitcoin yo-yoed wildly again on Tuesday, falling 14% to $5,920 (£4,250) before bouncing back to $7,265 - up nearly 6% on the previous day. The latest gyrations came as a leading central banker described the cryptocurrency as “a bubble, a Ponzi scheme and an environmental disaster". The new head of the Bank for International Settlements, Agust'n Carstens, also said bitcoin threatened to undermine public trust in central banks and posed a threat to financial stability, and he signalled a global clampdown.
  • SpaceX just launched its most powerful rocket ever - and it looked amazing (CNBC) Elon Musk took one giant leap to the front of the space industry on Tuesday.
  • Falcon Heavy became the most powerful commercial rocket in the world on Tuesday.
  • The SpaceX rocket completed its maiden flight from NASA's Kennedy Space Center in Florida.
  • It put one of CEO Elon Musk's Tesla Roadsters into orbit around the Sun.
  • Both side boosters returned to land simultaneously on concrete pads at Kennedy. Musk says he personally inspected each of them after landing, adding that SpaceX could even reuse them if it wanted.

U.S.

gdp.now.2018.feb.06

  • A decision over whether to grant an interview to special counsel Robert Mueller could have major legal implications for President Donald Trump.
  • Trump's lawyers have reportedly advised him not to speak with Mueller, though he has previously said he would.
  • Rejecting the interview request could pave the way for Mueller to issue a subpoena - which, in turn, could end up in a lengthy legal battle that could reach the top court.

The FBI LIED about the Steele dossier" has been scaled back to, “The FBI did not highlight the truth about the Steele Dossier in the part of the application we bothered to read." So now the main attack on the FBI is about font size. No doubt all the subsequent memos Nunes is promising to release will have additional bombshells.

Rejecting the prosecutor’s pleas that “the British courts should trust the United States to provide what it said it would provide" in order to secure Love’s health and safety, the court instead invoked extensive medical and psychological testimony that conditions inside American prisons are woefully inadequate to treat Love’s ailments. As a result, extradition and incarceration inside the U.S. prison system would exacerbate those health issues and produce a high risk of suicide.

Love, 33, is accused by the U.S. government of participating in the 2012 and 2013 hacking of the computer systems of various U.S. military agencies and private companies.

  • Where have refugees settled in the U.S.? (Pew Research Center) This article has the largest refugee origin for each state every year from 2002 through 2017. There are marked differences from year to year.

Click for large image.

top.refugee.group.by.state.2017

UK

  • Brexit: EU to have power to punish UK at will during transition (The Guardian) Brussels will have the power to punish the UK at will during the Brexit transition period by closing off parts of the single market to British companies, according to a leaked legal document drawn up by the EU. The 27 remaining member states want to be able to act against the UK without having to go through the potentially lengthy process of bringing cases to the European court of Justice, should Brussels come to the judgment that Britain has infringed EU law.

Syria

  • UN outrage at Syrian suffering: ‘We can no longer stay silent’ (The Guardian) The scale of suffering across Syria has reached unprecedented levels, with access to aid blocked in three major population centres, growing displacement and more than 13 million people in need across the country, the UN has said. The organisation called on Tuesday for a one-month ceasefire to ease what it described as an “extreme situation" that “we haven’t seen before" at any point during the war, which is soon to enter its eighth year. The conflict has been marked by a mass exodus of Syrian citizens, sieges, starvation and a death toll that surpassed 500,000 people in 2016.

India

  • Wealth migration; 7,000 super-rich Indians shifted base in '17 (The Economic Times) Hat tip to Christopher Holliman, GEI Discussion Group, LinkedIn. India witnessed the second largest number of millionaire outflow globally after China with 7,000 high net worth individuals changing their domicile during 2017, 16 per cent more than last year, according to a report. According to the report by New World Wealth, 7,000 ultra- rich Indians shifted overseas in 2017. In 2016, the figure stood at 6,000, while in 2015 as many as 4,000 millionaires shifted base.

Globally, as many as 10,000 super-rich Chinese changed their domicile in 2017. Other countries that witnessed large high net worth individual (HNWis) outflows include Turkey (6,000), United Kingdom (4,000), France (4,000) and Russian Federation (3,000).

Nepal

  • Nepal and India: Mending Fences (The Diplomat) With Indian Minister for External Affair Sushma Swaraj’s sudden visit to Kathmandu on Februray 1-2, there are signs of a rapprochement between Nepal’s newly elected Left Alliance and New Delhi.

For the Communist Party of Nepal (Unifed Marxist-Leninist) (CPN-UML) leader (and presumptive prime minister in the new coalition government) K.P. Oli, a friendly relationship with India is must. Two-thirds of Nepal’s trade is with India; the country is heavily dependent on its larger neighbor to meet its everyday needs. For India, it is necessary to build cordial relation with the new government in Nepal to minimize growing Chinese influence in Nepal and protect its interest.

Taiwan

taiwan.quake.building.damage

China

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