Written by Econintersect
Early Bird Headlines 12 Apr 2019
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
- Stocks in Asia mixed; China’s March trade surplus soars past expectations (CNBC) Shares in Asia were mixed on Friday, with the Chinese markets slipping even as official trade data came in soaring past expectations. Mainland Chinese shares were lower on the day. The U.S. dollar index was last higher at 97.027 down from a high of 97.178 earlier. Brent crude futures adding 0.21% to $70.98 per barrel and U.S. crude futures gaining 0.33% to $63.79 per barrel. Spot gold was up 0.1% at to $1,293.30 per ounce as of 0804 GMT, after touching a one-week low on Thursday.
- G10 Surprise Index Remains Negative (Twitter) A negative surpise index indicates surprises have not been good news.
U.S.
- Dem challenges JP Morgan CEO to try and budget employee’s low salary (The Hill) Democratic Rep. Katie Porter (CA) grilled JPMorgan Chase CEO Jamie Dimon during a Wednesday hearing, challenging the billionaire about how a single mother working as a Chase bank teller should budget out her starting salary.
During a House Financial Services Committee hearing that included the CEOs of a handful of major banks, Porter shared the story of a woman, meant to represent several of Porter’s constituents, who takes home $2,425 each month from her job with JPMorgan Chase and shares a room with her daughter in a one-bedroom apartment in Irvine, Calif., that costs roughly $1,600 a month.
- McConnell to Trump: Don’t pick Cuccinelli to lead DHS (The Hill) Senate Majority Leader Mitch McConnell (R, KY) is publicly signaling to President Trump not to pick former Virginia Attorney General Ken Cuccinelli to lead the Department of Homeland Security (DHS). Cuccinelli, the president of the Senate Conservatives Fund, has been floated as a successor to DHS Secretary Kirstjen Nielsen, whose exit Trump announced on Sunday. The conservative group has battled with McConnell and his allies in GOP Senate primaries, including backing Tea Party challenger Matt Bevin in McConnell’s 2014 reelection race.
- Louisiana officer’s son arrested over black church fires (BBC) The son of a police deputy has been arrested as the suspect in three fires at black churches in southern Louisiana, officials say. Holden Matthews, 21, was arrested on Wednesday and charged with three counts of arson on religious buildings. The burnings did not result in deaths or injuries, but evoked painful memories of the civil rights era. Matthews was reportedly turned over to state officials by his own father, a police deputy. Sherriff Guidroz said Matthews’ father broke down and was “in terrible shape” upon learning his son was a suspect
- Dems say attorney general undermined credibility with Trump talking point (The Hill) Democrats on Thursday accused Attorney General William Barr of playing into President Trump’s attacks on the FBI after he testified the day before that he is reviewing whether U.S. officials were improperly “spying” on the 2016 campaign. They warned that Barr is undermining his credibility by using language that echoes Trump and his allies. Senate Minority Leader Charles Schumer (D, NY) said from the Senate floor on Thursday:
“When someone is given real information that Russia interfered with our elections, of course they’re supposed to look into it, that’s part of their job.”
- Summary of the Mueller Report (The Washington Post, Twitter) This is so true (probably).
UK
- UK PM May defends Brexit delay, critic asks her to resign (Reuters) British Prime Minister Theresa May defended her decision to delay Brexit and seek a compromise exit plan with the opposition Labour Party as one angry lawmaker from her own party stood up in parliament on Thursday and asked her to resign.
- Julian Assange faces US extradition after arrest at Ecuadorian embassy (The Guardian) WikiLeaks founder’s removal from London embassy brings seven-year diplomatic stalemate to an end. Julian Assange is facing extradition to the United States and up to five years in prison after he was forcibly dragged from the Ecuadorian embassy in London on Thursday, bringing an extraordinary seven-year diplomatic stalemate to an end.
Germany
- German couple lose fight over cows’ clanging bells (BBC) Cowbells can continue ringing out on a Bavarian farm despite the neighbours’ long-running complaints, a Munich court has ruled. It was the latest setback for a couple from Holzkirchen, a peaceful market town, who first sued five years ago. But they plan to appeal again. They argue that dairy farmer Regina Killer’s cows keep them awake at night. But a leading Bavarian politician, Ilse Aigner, said “the cow – with its bell – is part of our rural way of life“. The couple, who have not been named, also object to the bad smells of manure and the accompanying insects.
Greece
Russia
- US and Russia ‘need to strengthen’ economic and political ties, Russian finance minister says (CNBC)
- “This is not the best climate for business development… I think that we need to strengthen our links, both economic and political links, between the U.S. and Russia,” Russian finance minister Anton Siluanov told CNBC on Thursday.
- His comments come amid a long series of provocations and flare-ups between Moscow and Washington in recent years, whose relations are seen by many as at their worst since the Cold War.
- In 2018, Russia’s gross domestic product (GDP) grew at 2.3%, marking the country’s highest level of expansion in almost seven years.
Pakistan
- Pakistan vegetable market bomb kills 16, half of them minority Hazaras (Reuters) A bomb hidden between bags of potatoes at an outdoor Pakistani market killed at least 16 people on Friday, half of them ethnic Hazaras, officials said, in an attack apparently aimed at minority Shi’ite Muslims.
India
- India election 2019: Voting kicks off in world’s largest election (BBC) Tens of millions of Indians have voted on the first day of a general election that is being seen as a referendum on Prime Minister Narendra Modi. Indians in 20 states and union territories cast their ballots in 91 constituencies. The seven-phase vote to elect a new lower house of parliament will continue until 19 May. Counting day is 23 May. With 900 million eligible voters across the country, this is the largest election ever seen.
North Korea
- Kim Jong Un consolidates power as North Korea shuffles leadership (Reuters) In one of the biggest leadership shake-ups in years, North Korea named a new nominal head of state and a new premier, and gave leader Kim Jong Un a new title, state media reported on Friday, moves analysts said solidify Kim’s grip on power.
- Donald Trump floats idea of third North Korea summit despite failed Hanoi talks (The Guardian) Donald Trump has said he is considering a potential third nuclear summit with North Korea’s leader Kim Jong-un. Trump spoke in the Oval Office at the start of talks with South Korean President Moon Jae-in. The U.S. president said he ‘enjoys the summits’ with chairman Kim Jong-un and is hopeful for progress on sanctions and human rights.
China
- Dollar-denominated exports rose 14.2 percent for March from a year ago, topping expectations of a 7.3 percent rise from a year ago, according to a Reuters poll.
- But dollar-denominated imports were down 7.6 percent in March from a year ago, falling short of expectations of a 1.3 percent decline from a year ago.
- China’s March trade surplus with the U.S. – a politically sensitive measure given the ongoing trade war between Washington and Beijing — came in at $20.5 billion.
Ecuador
- Julian Assange: Man ‘close’ to Wikileaks co-founder arrested in Ecuador (BBC) A man with close ties to Wikileaks co-founder Julian Assange has been arrested while trying to leave Ecuador, the country’s interior ministry says. Interior Minister Mar’a Paula Romo did not name the man but said he had been arrested for “investigative purposes“. An unnamed government official told the Associated Press that the man is Ola Bini, a Swedish software developer. It comes just hours after Assange was himself arrested at the Ecuadorian embassy in London.
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