Early Bird Headlines 04 August 2015
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.
- Can’t we just remove carbon dioxide from the air to fix climate change? Not yet (The Conversation) Recent research indicates that some process to remove massive amounts of carbon dioxide from the atmosphere will be needed if the global temperature rise in the 21st century is to be limited to 2 degrees centigrade. See Negative emissions physically needed to keep global warming below 2 °C (Nature Communications) See also the article by Sig Silber in GEI News yesterday: New Approach to Dealing with Climate Change?
- Marist suspends presidential polling to avoid being part of debate (Personal Liberty) The Marist Institute for Public Opinion, which conducts the national McClatchy-Marist Poll, said the debate criteria assume too much precision in polls in drawing a line between candidates just a small fraction apart, presume that the national polls being averaged are comparable and turn the media sponsoring most of the polls from analysts to participants.
- New York Times Pushes False Narrative on the Wall Street Crash of 2008 (Pam and Russ Martens, Wall Street on Parade) PM and RM have contributed to GEI. William D. Cohan has joined Paul Krugman and Andrew Ross Sorkin at the New York Times in pushing the patently false narrative that the repeal of the Glass-Steagall Act in 1999 had next to nothing to do with the epic Wall Street collapse of 2008 and the greatest economic calamity since the Great Depression.
- Who Wins, Who Loses as Obama Pushes Climate Change Plan (Money and Markets) Some investment suggestions to profit from the new energy plans.
- Move to Fight Obama’s Climate Plan Started Early (The New York Times) In the early months of 2014, a group of about 30 corporate lawyers, coal lobbyists and Republican political strategists began meeting regularly in the headquarters of the U.S. Chamber of Commerce, often, according to some of the participants, in a conference room overlooking the White House. Their task was to start devising a legal strategy for dismantling the climate change regulations they feared were coming from President Obama.
- Obama Unveils Plan on Climate Change (The New York Times) Video clip of President Obama’s press conference statement.
- Greek stocks plunge, banks hammered, after five-week crisis shut down (Reuters) It was the worst day ever for the Greek stock market. Bank shares plummeted 30% before loss limits kicked in to stop investors selling any more. The main Athens stock index .ATG ended down 16.2%, recovering slightly after plunging nearly 23% at the open.
- Manufacturing PMI grows at fastest pace in 6 months in July (Business Standard) There are no summer doldrums in India. Manufacturing activities rose to a six-month high as orders from both domestic and overseas markets shot up, showed widely-tracked Nikkei purchasing managers’ index (PMI) on Monday. Even then firms reduced jobs, though moderately. However, experts were not gung-ho about the July PMI, saying the momentum needs to be sustained.
- 10-time jump in FDI in petroleum and gas sector (The Hindu) Foreign Direct Investment (FDI) in petroleum and natural gas sector witnessed an almost 10-time jump in 2014-15 as compared to the preceding fiscal period.
- Giant mutual funds set up to stabilize China A shares (Asian Investor) Five new mutual funds have appeared on Chinese stock exchanges with a total funding of at least 200 billion renminbi ($32 billion). It is believed they are funded by the Chinese government. Econintersect: If investors want to sell Chinese companies the government wants to buy.
- Chinese Economy (Seeking Alpha) China is doing exactly what it said it wanted to do: move to a consumption based economy. If you want to know how the Chinese economy is doing, pay attention to the service sector.
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