Written by Econintersect
Early Bird Headlines 18 September 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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Notice: We have changed the form of content coverage for Early Bird. We will provide discussion only for Asia Markets news and a small number (often 1 or 2) other articles. The remainder of the content will be headlines (with links) only.
Key Articles
Global
- Asia Pacific stocks mixed as investors await Fed interest rate decision (CNBC) Stocks in Asia Pacific were mixed on Wednesday as investors awaited the U.S. Federal Reserve’s interest rate decision, set to be released later stateside. In mainland China, shares were up on the day. The U.S. dollar index was last at 98.348 after declining from levels above 98.4 yesterday. Stocks of oil companies in the region mostly slipped on Wednesday, following a sharp drop in crude prices overnight, but prices were mixed on Wednesday. oon of Asian trading hours, oil prices were mixed. International benchmark Brent crude futures were up 0.28% to $64.73 per barrel, while U.S. crude futures fell slightly to $59.31 per barrel. Spot gold was barely changed at $1,502.70 per ounce, as of 0425 GMT. Treasury yields were mostly lower.
U.S.
- A crack just emerged in the financial markets: The New York Fed spends $53 billion to rescue the overnight lending market (CNN) Borrowing rates skyrocketed on Tuesday in a corner of the markets the public rarely notices but that is critical to the functioning of the global financial system. The spike in overnight borrowing rates forced the New York Federal Reserve to come to the rescue with a special operation aimed at easing stress in financial markets. It was the NY Fed’s first such rescue operation in a decade, the last occurring in late 2008. See Repo Rate Spike (Twitter).
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- Trump to Revoke California’s Authority to Set Stricter Auto Emissions Rules (The New York Times) The Trump administration is expected on Wednesday to formally revoke California’s authority to set auto emissions rules that are stricter than federal standards, taking a major step forward in its wide-ranging attack on government efforts to fight climate change.
The formal abolishment of one of California’s signature environmental policies – tailpipe pollution is the largest source of greenhouse gas emissions in the United States – will be announced Wednesday afternoon at the Washington headquarters of the Environmental Protection Agency.
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- Car crashes through lobby at Trump Plaza in Westchester, New York (CBS News) A car crashed through the lobby doors at Trump Plaza in Westchester County, New York, on Tuesday night. One person in the lobby was injured, police told CBS News. There was another person injured, CBS New York reported. New Rochelle police said it appeared to be an accident.
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Ukraine
- White House surrenders on Ukraine foreign aid (CNN) Trump administration officials lifted a hold on $250 million in military assistance to Ukraine on Wednesday, multiple sources told CNN, ending weeks of uncertainty about the future of the aid. The move came as lawmakers prepared to vote on a measure that could have forced the administration to release the funds, which the White House effectively froze when officials initiated a review of Ukrainian defense aid late last month.
Their decision to pause the money sparked bipartisan concern about the potential consequences for Ukraine, as well as the potential benefits for Russia.
India
- After crocodiles, lions take over the streets of Gujarat. (India Today) Remember few months ago, when crocodiles infiltrated the streets of Vadodara after heavy rains and floods in the state. Now it seems like, after crocodiles, it is now lions who have taken over the streets of Gujarat. A dramatic footage of a pride of seven lions roaming around the streets of Gujarat has gone viral online and it is the most spine-chilling thing you will see today.
Bermuda
- Hurricane Humberto now Category 3, Bermuda braces for storm conditions (Orlando Sentinal) Hurricane Humberto strengthened into a Category 3 storm Tuesday evening, and while Bermuda is just outside the cone of uncertainty, island residents should expect hurricane conditions late Wednesday, the National Hurricane Center said in its 11 p.m. update. Follow all severe weather live at LIVE ALL WEEK: Severe Weather Events Week Of 16 Sept 2019.
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Other important articles
U.S.
- Fed likely to cut rates a 2nd time as economic threats loom (Associated Press)
- Democrats whiff again as Lewandowski makes a mockery of oversight (CNN)
- Nadler considering holding Lewandowski in contempt (The Hill)
- Sources: GM offers 2% raises in UAW contract, ends health care (Detroit Free Press)
- First poll after third Democratic debate shows Biden leading but Warren rising (CNN)
- California Democratic donor charged with running drug house (Associated Press)
Israel
Saudi Arabia
- Billions spent on U.S. weapons didn’t protect Saudi Arabia’s most critical oil sites from a crippling attack (The Washington Post)
Iran
South Korea
Equador
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