econintersect.com
       
  

FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email.



>> Click Here for Historical Wall Post Listing <<

What We Read Today 27 May 2017

Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary "reading list" which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for "reading list" items are gratefully reviewed, although sometimes space limits the number included.

This feature is published every day late afternoon New York time. For early morning review of headlines see "The Early Bird" published every day in the early am at GEI News (membership not required for access to "The Early Bird".).

BECOME A GEI MEMBER - IT's FREE!

Every day most of this column ("What We Read Today") is available only to GEI members.

To become a GEI Member simply subscribe to our FREE daily newsletter.

The rest of this post is available only the GEI Members.  Membership is FREE -  click here

Topics today include:

  • Massachusetts Admits to 'Regularly' Allowing Companies to Edit Draft Pollution Permits

  • Public Divides Over Environmental Regulation and Energy Policy

  • Cholesterol-busting statins also stave off heart attacks and stroke

  • How Trump’s Budget Would Affect Every Part of Government

  • Global Stocks Gained $1 Trillion Last Week

  • Trump-Russia Inquiry Looks at Potential for Wall Street Bank Money Laundering

  • McConnell May Have Been Right: It May Be Too Hard to Replace Obamacare

  • Two men killed in Oregon train stabbings after anti-Muslim rant

  • Trump tweets "money is beginning to pour in" to NATO

  • Huge scale of terror threat revealed: UK home to 23,000 jihadists

  • U.K. Lowers Threat Level, May Urges Public to Stay Vigilant

  • UK PM May's lead narrows after Manchester attack - new polls show

  • May won’t say it but Brexit is all that matters

  • Erdogan says EU presented Turkey with new 12-month diplomatic timetable: Hurriyet

  • How Putin Became the Symbol of Russian Power

  • New restrictions on cattle slaughter in India

  • India's Muslim meat traders plan legal action over new rules

  • China Spins a Global Food Web From Mozambique to Missouri

  • And More

Articles about events, conflicts and disease around the world

Global

Click for large image.

Click for larger image.
global.stocks.2017.may.26

U.S.

  • Trump-Russia Inquiry Looks at Potential for Wall Street Bank Money Laundering (Pam and Russ Martens, Wall Street on Parade)  In recent weeks, the U.S. Senate Banking Committee, Senate Intelligence Committee and the House of Representatives Financial Services Committee have all shown an interest in what FinCEN (Financial Crimes Enforcement Network) might have in its database that would shed sunshine on involvement of the Trump business empire or Trump campaign and Russian money inflows.  From this article:

... for those who work for Wall Street brokerage firms or the mega Wall Street banks like JPMorgan Chase, Citigroup or German banking giant Deutsche Bank, just the mere mention of FinCEN can quickly produce beads of sweat dripping onto those expensive Canali suits. That’s because FinCEN is the Federal agency where suspicious financial activity that might turn out to be money laundering gets reported. All three banks, and numerous others, have had their share of scandalous run ins with money laundering.

  • McConnell May Have Been Right: It May Be Too Hard to Replace Obamacare (The New York Times)   The many meetings Republicans held to discuss a Senate health care bill have exposed deep fissures within the party that are almost as large as the differences between Republicans and Democrats. Elements of a bill that passed the House this month have divided Republicans.  Mr. McConnell faces an increasingly onerous math problem. He can afford to lose only two Republicans if he is to get a bill through the Senate, and that would require the help of Vice President Mike Pence, who would have to cast the tiebreaking vote. But at least three senators in the party are diametrically opposed to the views of at least another three, so the path to agreement is narrow.

  • Two men killed in Oregon train stabbings after anti-Muslim rant (Reuters)  (Econintersect:  Does this story represent what America has become?)  A man fatally stabbed two passengers aboard a Portland, Oregon, commuter train after they tried to stop him from harassing two young women who appeared to be Muslim, police said on Saturday.  Police identified the assailant, who was arrested soon after the Friday afternoon attack, as Jeremy Joseph Christian of Portland, a 35-year-old convicted felon.  A senior researcher with the Southern Poverty Law Center, in a blog post, said Christian's Facebook page showed he held "some racist and other extremist beliefs".

  • News through the eyes of cartoonists (MSNNews

EU

  • Trump tweets "money is beginning to pour in" to NATO (Reuters)  U.S. President Donald Trump said on Saturday that NATO alliance allies are already stepping up their contributions to the organisation, two days after the president scolded members for not spending enough on defence.  Trump tweeted from Sicily where he is attending a Group of Seven meeting:

"Many NATO countries have agreed to step up payments considerably, as they should. Money is beginning to pour in -NATO will be much stronger." 

UK

  • Huge scale of terror threat revealed: UK home to 23,000 jihadists (The Times)  Intelligence officers have identified 23,000 jihadist extremists living in Britain as potential terrorist attackers, it emerged yesterday.  The scale of the challenge facing the police and security services was disclosed by Whitehall sources after criticism that multiple opportunities to stop the Manchester bomber had been missed.

About 3,000 people from the total group are judged to pose a threat and are under investigation or active monitoring in 500 operations being run by police and intelligence services. The 20,000 others have featured in previous inquiries and are categorised as posing a “residual risk”.

The two terrorists who have struck in Britain this year — Salman Abedi, the Manchester bomber, and Khalid Masood, the Westminster killer — were in the pool of “former subjects of interest” and no longer subject to any surveillance.

  • U.K. Lowers Threat Level, May Urges Public to Stay Vigilant (Bloomberg)   Prime Minister Theresa May said the U.K. terror threat has been lowered to “severe” from “critical” following a number of arrests related to the terrorist attack in Manchester.  May led a meeting of the government’s emergency committee Saturday, during which she received an update from police and security services on the investigation into the suicide bombing at a pop concert on May 22 that killed 22 people. In response, the threat level had been raised to the highest category a day later.

  • UK PM May's lead narrows after Manchester attack - new polls show (Reuters)   British Prime Minister Theresa May's lead over the opposition Labour Party has narrowed ahead of a June 8 election but she is still on course to win comfortably, according to two opinion polls carried out since the Manchester suicide attack.  The Opinium and ComRes polls published on Saturday showed the lead of May's ruling Conservative Party had slipped to 10 and 12 percentage points respectively.

But the polls painted a complicated picture of public opinion, with Britons' current voting intentions being influenced by both the deadly Manchester attack on Monday and May's unpopular social care proposals.

Sterling on Friday suffered its steepest fall since January after a YouGov opinion poll indicated a much tighter election than previously thought with the lead of May's Conservatives over Labour down to 5 percentage points.

May called the snap election in a bid to strengthen her hand in negotiations on Britain's exit from the European Union, to win more time to deal with the impact of the divorce and to strengthen her grip on the Conservative Party.

But if she does not handsomely beat the 12-seat majority her predecessor David Cameron won in 2015, her electoral gamble will have failed and her authority could be undermined just as she enters formal Brexit negotiations.

Turkey

  • Erdogan says EU presented Turkey with new 12-month diplomatic timetable: Hurriyet (Reuters)   Turkish President Tayyip Erdogan said the European Union had presented Turkey with a new 12-month timetable for renewing their relations, the Hurriyet daily said on Saturday.  Speaking to reporters on the return flight from this week's NATO summit in Brussels, Erdogan was cited by Hurriyet as saying that during the summit, Turkey and the EU had agreed on giving a new impetus to relations and added Turkey's foreign and EU affairs ministries would work towards the timetable.  Turkey's relations with the European Union, particularly Germany, have deteriorated sharply after a series of diplomatic rows.

Russia

  • How Putin Became the Symbol of Russian Power (Bloomberg)  Whether it’s annexing territories, crushing his opponents or posing for photo ops, Vladimir Putin is not just the president, he's a symbol of Russian power. In this episode of Bloomberg Profiles, it's described how Vladimir Putin went from tough kid, to KGB spy, to one of the most powerful figures in the world.

India

  • New restrictions on cattle slaughter (The Hindu)  Under a notification, titled the Prevention of Cruelty to Animals (Regulation of Livestock Markets) Rules, 2017, those who wish to sell cattle — bulls, cows, buffaloes, steers, heifers and camels — may do so only after they formally state that the animals have not been “brought to the market for sale for slaughter”.  

At the same time, buyers of cattle at animal markets will have to verify they are agriculturalists and declare that they will not sell the animal/s for a period of six months from the date of purchase.

The rules, notified by the Ministry of Environment, Forest and Climate Change on May 23, demand that buyers “follow the State cattle protection and preservation laws” and “not sacrifice the animal for any religious purpose”. They also prohibit cattle purchased from animal markets being sold outside the State, without permission.

  • India's Muslim meat traders plan legal action over new rules (Reuters)  Indian meat traders plan to take the government to court over new rules banning the trading of cattle including buffalo for slaughter, calling it a move by Prime Minister Narendra Modi's administration to hurt the business run mainly by Muslims.  The environment ministry said this week that animal markets will only be able to trade in cattle meant for agricultural purposes, the biggest blow yet for meat suppliers facing several reverses under Modi's three-year old Hindu nationalist government.  The slaughter of cows, considered holy in Hinduism, is banned in most Indian states and laws on the issue have become more stringent over the past few years. Muslims, who make up 14% of India's 1.3 billion people, dominate the Indian meat industry.

China

  • China Spins a Global Food Web From Mozambique to Missouri (Bloomberg)  As China's government sets up farms in developing countries, the nation's food companies are scouring the world for premium products.  Faced with a shrinking area of good arable land and a population of 1.4 billion people who are eating more, Chinese agriculture companies have been buying or leasing farms abroad for decades. After the world food crisis, when grain prices soared from 2006 to 2008, that investment went into overdrive. But many projects were plagued by corruption, mistrust, local resistance and trade restrictions.  As a result, China is now looking for agricultural development by finding farms with quality producers in more developed countries whose products would sell for a premium in Shanghai and Beijing.  Chinese firms have spent almost $52 billion on overseas agriculture deals since 2005 and food industry-related transactions have quadrupled over the past six years, according to data compiled by the American Enterprise Institute and the Heritage Foundation.  And more and more the Chinese have been acquiring premium food businesses.

Click for larger image.

Other Scientific, Health, Political, Economics, and Business Items of Note - plus Miscellanea

  • Massachusetts Admits to 'Regularly' Allowing Companies to Edit Draft Pollution Permits (DeSmog)  Officials from the Massachusetts Department of Environmental Protection (DEP) acknowledged they regularly allow energy companies to exclusively preview and revise draft permits as a matter of common practice.  This admission follows DeSmog’s reporting on emails showing the state had quietly provided Spectra Energy (now Enbridge) several opportunities to edit a draft pollution approval permit for a compressor station in the town of Weymouth as part of its Atlantic Bridge gas project.  Econintersect:  This is what happens in an oligarchy.

  • Public Divides Over Environmental Regulation and Energy Policy (Pew Research Center)  Americans lean toward regulations – not economic markets alone – as the most effective way to increase reliance on renewable energy, but they are evenly split on the question of whether fewer regulations can be used to protect air and water.  Opinions are distinctly divided along political lines.

  • Cholesterol-busting statins also stave off heart attacks and stroke (The Times)  Statins not only lower cholesterol but can decrease the risk of heart attacks by physically changing the organ, according to research.  Scientists using magnetic resonance imaging to scan the hearts of 4,622 Britons found that people taking the drugs were less likely to have abnormally enlarged hearts, a sign of stress and weakness. The study confirmed that statins could stop heart muscle thickening, which is known to be an important risk factor for heart attacks, heart failures and strokes.

About seven million people in Britain are thought to take statins to reduce their risk of heart disease, at a cost of about £2 per person per month. The drugs became controversial after a study in the British Medical Journal in 2013 made the claim, subsequently withdrawn, that 20 per cent of statin users suffered side-effects.

A review in The Lancet last September found that they were safe and effective and the latest study will add weight to the arguments of those who say their benefits outweigh any side-effects.

  • How Trump’s Budget Would Affect Every Part of Government (The New York Times)  (Note:  Go to the article for great interactive graphics.)  Government programs from Medicaid to the National Institutes of Health would be cut substantially under the budget proposed by the White House on Tuesday. Even military spending would make few gains over 10 years.  Here are some of the changes over 10 years, compared with projected spending under current law, according to a Times analysis:


Make a Comment

Econintersect wants your comments, data and opinion on the articles posted.  As the internet is a "war zone" of trolls, hackers and spammers - Econintersect must balance its defences against ease of commenting.  We have joined with Livefyre to manage our comment streams.

To comment, just click the "Sign In" button at the top-left corner of the comment box below. You can create a commenting account using your favorite social network such as Twitter, Facebook, Google+, LinkedIn or Open ID - or open a Livefyre account using your email address.






Econintersect Behind the Wall









search_box
Print this page or create a PDF file of this page
Print Friendly and PDF


The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.







Keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government





























 navigate econintersect.com

Blogs

Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day
Weather

Newspapers

Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government
     

RSS Feeds / Social Media

Combined Econintersect Feed
Google+
Facebook
Twitter
Digg

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution

Contact

About

  Top Economics Site

Investing.com Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2017 Econintersect LLC - all rights reserved