Written by Econintersect
Early Bird Headlines 02 May 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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​Global
- Asian stocks trade narrowly mixed as dollar holds onto gains (CNBC) Asian stocks were narrowly mixed in Wednesday trade following the mixed close on Wall Street as several markets in the region re-opened for trade after a holiday. The dollar’s index ticked down 0.1% in Asia after having gained 1% in the preceding two days. It rose to as high as 92.57 on Tuesday, its firmest since Jan. 10. Brent crude futures for July delivery was almost flat at $73.14 per barrel and U.S. West Texas Intermediate futures for June delivery tacked on 0.18% to trade at $67.37. Spot gold was up 0.2% at $1,306.51 per ounce at 0118 GMT. Gold fell to $1,301.51 in the previous session, its lowest level since Dec. 29.
- WHO: 7 million people a year die from air pollution (The Hill) An estimated 7 million people face an early death each year from air pollution, according to a new report by the World Health Organization (WHO). Among those deaths, 21% are due to pneumonia, 20% are from strokes, 34% are caused by heart disease, 19% are from chronic obstructive pulmonary disease and 7% are from lung cancer. See also Air pollution inequality widens between rich and poor nations (The Guardian).
U.S.
- Despite Trump threats, U.S. officials allow caravan members to seek asylum (The Washington Post) For weeks, President Trump has expressed alarm about a caravan of Central American migrants heading for the United States and vowed to keep them out. But on Tuesday, U.S. officials allowed small groups of the asylum seekers across the border, bowing to U.S. and international law regarding such cases.
By Tuesday evening, 25 of the 150 migrants had been escorted to San Diego to begin the process of applying for asylum. Their arrival appeared to be a blow to Trump’s efforts to block the caravan – a campaign that has involved calling out the National Guard, threatening Mexico if it did not stop the migrants and warning that the participants, mostly women and children, represented a threat to national security.
- Mueller raised possibility of presidential subpoena in meeting with Trump’s legal team (The Washington Post) In a tense meeting in early March with special counsel Robert S. Mueller III, President Trump’s lawyers insisted he had no obligation to talk with federal investigators probing Russia’s interference in the 2016 presidential campaign. But Mueller responded that he had another option if Trump declined: He could issue a subpoena for the president to appear before a grand jury, according to four people familiar with the encounter. Mueller’s warning – the first time he is known to have mentioned a possible subpoena to Trump’s legal team – spurred a sharp retort from John Dowd, then the president’s lead lawyer:
“This isn’t some game. You are screwing with the work of the president of the United States.”
- Justice Dept. Won’t Be Extorted, Rosenstein Warns Republicans (The New York Times) After months of conceding to demands from a small group of House Republicans for more visibility into continuing investigations, the deputy attorney general, Rod J. Rosenstein, pushed back on Tuesday, declaring that the Justice Department “is not going to be extorted.” His comment came the day after revelations that several of those Republicans, led by Representative Mark Meadows of North Carolina and other loyalists of President Trump, had drafted articles of impeachment to use against Mr. Rosenstein in case the long-simmering dispute with the deputy attorney general boiled over.
- Ex-doctor says Trump dictated letter claiming he would be ‘healthiest’ president ever (The Hill) President Trump’s former personal physician claims that Trump dictated the 2015 letter he wrote praising the then-presidential candidate’s health. “He dictated that whole letter. I didn’t write that letter,” Dr. Harold Bornstein told CNN.
- The crazy ‘raid’ of Trump’s former doctor (The Washington Post) NBC News just reported on what might be the craziest White House story you’ll read this week. It involves Trump’s colorful longtime personal doctor, Harold Bornstein, who claims that Trump’s bodyguard, a Trump Organization lawyer and a third man conducted a “raid” of his office in February 2017, seizing 35 years of Trump’s medical records.
UK
- Brexiters urge May in 30-page letter to drop ‘undeliverable’ customs partnership plan (City A.M.) Senior Brexiters have demanded Theresa May drop her proposals for a “New Customs Partnership”, (NCP) saying it is “undeliverable” and would make it “impossible” for the UK to strike its own trade deals.
A 30-page document handed to the BBC says that by requiring such a high level of regulatory alignment, the NCP would render the International Trade Department “obsolete”.
The intervention adds to a chorus of opposition against the NCP, in which Britain would stick closely to the EU’s customs regime and collect tariffs on behalf of Brussels.
- Home Office routinely disbelieves people – even those claiming asylum from persecution (The Conversation) A culture of disbelief for asylum seekers is endemic in the British immigration system. The unfolding Windrush scandal, in which people who were invited to Britain from Caribbean countries between 1948 and 1971 and given permanent leave to remain but have since found their credibility questioned, has shed light on the wider policies of the UK Home Office and the onus it places on proof and belief. See also next article and What is the U.K., Anyway?
- Sajid Javid: the son of a Pakistani bus driver who became Britain’s home secretary (The Conversation) The son of Pakistani immigrants was told at school he’d never even make it to university. Now, as the new Home Secretary, Javid will have to deal with the immigrant hostile department. See preceding article.
Russia
- Russia May Not Be As Strong As You Think (Business Insider) Historian Timothy Snyder, author of “The Road to Unfreedom: Russia, Europe, America,” explains that Russia is not a powerful nation when measured in terms of traditional indicators like technological innovation or gross national product. Instead, Russia uses subjective measures like feelings to generate fear and distrust among its people and around the world.
India
- India’s holiest city tried ‘pro-poor’ tourism – but for young people, it’s still a struggle for survival (The Conversation) According to the Uttar Pradesh Department of Tourism in 2017, over 300,000 foreign and 5 million domestic travellers visited Varanasi, India’s most holy city. But many who work in the tourist industry here earn little more than the UN’s poverty level of $1.90 a day.
China
- Chinese state media has a message for the US ahead of trade talks in Beijing (CNBC) Trump’s bullying style may not play well in Beijing:
- Officials from the U.S. and China are scheduled to meet in Beijing on Thursday and Friday to iron out their trade tensions.
- “The imminent dialogue must be held on equal footing,” state media Global Times said in an editorial on Wednesday.
Australia
- Australian credit crunch goes mainstream (Macro Business) Credit looks very endangered down under.
Canada
- Canada’s Housing Boom is in Trouble (Twitter) Is Canada’s fat lady singing?
