Written by Econintersect
Early Bird Headlines 14 November 2016
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.
Global
Most Asia markets slip, but Nikkei climbs on weaker yen, better-than-expected GDP (CNBC) Asia markets traded mixed, with the Nikkei continuing its third straight session of gains, likely getting a boost from a weaker yen and better-than-expected Japanese economic data.
Low growth in global carbon emissions continues for third successive year (phys.org) Global carbon emissions from burning fossil fuels did not grow in 2015 and are projected to rise only slightly in 2016, marking three years of almost no growth, according to researchers at the University of East Anglia (UEA) and the Global Carbon Project.
Is Globalization Reversing? (Twitter)
U.S.
Republicans face divisions over ObamaCare repeal (The Hill) Congressional Republicans face internal divisions over how far to go in repealing and replacing ObamaCare, one of their top political priorities of the past six years, without disrupting the lives of millions of Americans. Conservatives like Texas Sen. Ted Cruz (R) and Utah Sen. Mike Lee (R) are pushing for the law to be ripped out “root and branch“, something Senate Majority Leader Mitch McConnell (R-Ky.) has promised to do. But centrist Republicans are worried about millions of people being kicked off insurance rolls if ObamaCare is repealed. They’re hoping to reach compromises with Democrats in hopes of transitioning as smoothly as possible away from the law. And comments by Pres. Elect Trump last week and Sunday indicate he is thinking much like the moderates.
Can Trump Save Their Jobs? They’re Counting on It (The New York Times) Millions (many in the Rust Belt) voted for Donald Trump because he pledged to save their jobs. Now they will see if any of the factory closings scheduled to move jobs to Mexico and elsewhere will be canceled. See also If You Voted for Trump Because He’s ‘Anti-Establishment,’ Guess What: You Got Conned (San Diego Free Press).
Payback time! Will Trump and conservatives crush their foes? (Fabius Maximus) FM has contributed to GEI. Two summary excerpts:
Conservatives have a level of power in America not seen since the 1920’s. Using that to attack their enemies could have large effects both today and on America’s future. But those who will decide what to do know there is a second side to the coin. There always is a second side.
Revenge is fun and produces cheers from the fans. The long-term benefits to society – from shifting the ideological basis of society – accrue to others. But doing favors for the 1% pays well.
What will our new leaders in Washington choose to focus on, revenge or profits? I’ll bet they go for the money.
Trump names Priebus, Bannon to WH staff (The Hill) President-elect Donald Trump announced Sunday that Reince Priebus will serve as his chief of staff, while Stephen Bannon will serve as chief strategist and senior counselor. Priebus is currently the chairman of the Republican National Committee (RNC), while Bannon was the chief executive officer of Trump’s campaign.
Report: Trump was unfamiliar with the scope of the president’s job when meeting Obama (Business Insider) During Trump’s private meeting with President Barack Obama on Thursday, Trump “seemed surprised” by the scope of the president’s responsibilities, according to a report from The Wall Street Journal. Trump’s aides were also apparently unaware that the entire staff of the president working in the White House’s West Wing would need to be replaced, according to The Journal. Obama reportedly will spend more time counseling Trump about the presidency than most presidents do with their successors.
EU
Trump election: EU leaders expect ‘strong partnership’ with US (BBC News) European Union foreign ministers have said they expect a “very strong partnership” with the US, following an informal meeting to discuss Donald Trump’s election victory. The ministers said they needed to know details of the US president-elect’s plans but said they expected good ties. The talks took place at a dinner in Brussels on Sunday, on the eve of a formal meeting of foreign ministers. Ministers from Britain, France and Hungary did not attend on Sunday.
UK
Citi is reportedly planning to move 900 jobs from London to Dublin (Business Insider) U.S. bank Citigroup is preparing to move up to 900 jobs from London to Dublin as part of its contingency plans for Britain’s exit from the European Union. Ireland is remaining in the EU and the Eurozone.
India
India wants to become a solar superpower – but its plans don’t add up (The Conversation) The government in Delhi must be more ambitious. Current plans for more renewable energy plants are just a tenth of what is needed.
India raises withdrawal limit as rupee anger mounts (BBC News) The Indian government has raised the limit on cash withdrawals following widespread public anger about the surprise abolition of 500 ($7.60; £5.90) and 1,000 rupee notes last week. Customers can now withdraw up to 2,500 rupees a day from cash machines, rather than 2,000, the finance ministry said. Many cash machines are not working because they have not been adapted for the new 500 and 2,000 rupee notes. Long queues at many banks were making it difficult to make withdrawals.
Philippines
Donald Trump’s election has the Philippine president singing a different tune (Business Insider) Philippine President Rodrigo Duterte has been in office for just a few months, but he has made clear his opinion of the current US president, calling Obama a “son of a bitch” ahead of a regional summit in September. Duterte, however, seems keen on US President-Elect Donald Trump, making several favorable comments.
Japan
Trump is Doing Abenomics Work for Japan (Twitter)
China
China’s Xi tells Trump cooperation is only choice (Reuters) Chinese President Xi Jinping told U.S. President-elect Donald Trump that cooperation was the only choice for relations between the world’s two largest economies, with Trump saying the two countires had established a “clear sense of mutual respect“. Trump lambasted China throughout the U.S. election campaign, drumming up headlines with his pledges to slap 45 percent tariffs on imported Chinese goods and to label the country a currency manipulator on his first day in office.
