Written by Econintersect
Early Bird Headlines 31 October 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 stocks mixed as Fed slashes rates; China’s manufacturing activity shrinks again (CNBC) Stocks in Asia were mixed on Thursday after the U.S. Federal Reserve cut interest rates for the third time this year and indicated the possibility of a pause in easing monetary policy. China reported Thursday that factory activity in the country contracted for the sixth straight month in October. The U.S. dollar index was last lower at 97.329 after spiking above 97.8 yesterday. Oil prices edged higher in the afternoon of Asian trading hours, with international benchmark Brent crude futures adding 0.45% to $60.88 per barrel. U.S. crude futures also rose 0.45% to $55.31 per barrel. Spot gold was up 0.2% to $1,497.97 per ounce, as of 0352 GMT. U.S. gold futures inched 0.2% higher to $1,500.10 per ounce.
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- The U.S. dollar has been the world’s major reserve currency for decades, but that status could come under threat as “very powerful countries” seek to undermine its importance, warned Anne Korin, from the Institute for the Analysis of Global Security.
- Korin says China, Russia and the European Union are some “major movers” behind this push.
- One of those reasons driving their shift away from the dollar is the prospect of being subject to U.S. jurisdiction if they transact in dollars.
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U.S.
- For world champion Nats, the team that wouldn’t die, there was no doubt, just hope (The Washington Post) Amonbg the records that fell with the World Series victory by the Washington Nationals, no major professional team had ever before won a 7-game series where all victories were by the “away” team. It was the first World Series championship in franchise history for the Nationals who played as the Montreal Expos 1969-2004. It was the first champioship in Washington for the last 95 years. The old Washington Senators of the American League (the Minnesota Twins since 1961) won the World Series in 1924. The baseball history of Washington is further complicated by an expansion team the second Senators franchise, which began play in 1961 and moved to Arlington, Texas after the 1971 season to become the Texas Rangers. The 2019 World Champions are seen below celebrating at the end of their 6-2 seventh game victory. Pitcher Steven Strassberg, who started and won games 2 and 6, was named MVP – 2nd picture below.
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- Top Trump adviser steps down ahead of impeachment testimony (Associated Press) President Donald Trump’s top adviser for Russian and European affairs is leaving his job at the White House, a day before he’s scheduled to testify before the House impeachment investigators, a senior administration official said Wednesday. Tim Morrison owes his job at the National Security Council to Trump, but his testimony Thursday in the House impeachment inquiry might be central to a push to remove the president from office.
A senior administration official said Morrison “has decided to pursue other opportunities.” The official, who was not authorized to discuss Morrison’s job and spoke only on condition of anonymity, said Morrison has been considering leaving the administration for “some time.”
- 40 conservative groups sign ethics complaint against Pelosi (The Hill) A coalition of conservative groups has filed an ethics complaint against Speaker Nancy Pelosi (D, CA) claiming that she has usurped authority from the executive branch and “weaponized” the impeachment process. In a complaint to the Office of Congressional Ethics, 40 conservative groups led by Jenny Beth Martin of Tea Party Patriots Action wrote to the board’s chairman, David Skaggs, arguing that Pelosi was carrying out an unconstitutional, partisan investigation. The letter also argued that a vote scheduled for Thursday on a House resolution laying out the process and some procedures for impeachment was “insufficient” to dispel their worries about a partisan investigation. Thje complaint stated:
“Speaker Pelosi’s conduct is an encroachment across the constitutionally-mandated separation of powers. She has no business examining or investigating the president’s legitimate exercise of his authority to determine the foreign and national security policy of the United States.
“In launching her ‘official’ impeachment inquiry without benefit of a vote of the full House of Representatives and without indicating anything remotely qualifying as ‘treason, bribery, or other high crimes and misdemeanors’ that is the subject of the inquiry, Speaker Pelosi has weaponized impeachment.
“She and her Democratic colleagues are using the impeachment process as a weapon of partisan political battle, rather than as the means to defend the Constitution our Framers meant it to be.”
- Two Disputed Judicial Nominees Could Help Trump Reach Milestone (The New York Times) President Trump is nearing a milestone in his push to overhaul the federal judiciary with conservative judges. If the Senate confirms a batch of nominees now working their way through the approval process, a quarter of the nation’s 179 appeals court judges – those sitting just below the Supreme Court – will be appointees of Mr. Trump.
That number is far higher than the number of appointees to the appeals court that either George W. Bush or Barack Obama had made at this point in their presidencies.
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Syria
- U.S. releases Baghdadi raid video, warns of likely retribution attack (Reuters) The Pentagon on Wednesday released its first images (stills only from the video) from last weekend’s commando raid in Syria that led to the death of Islamic State leader Abu Bakr al-Baghdadi and warned the militant group may attempt to stage a “retribution attack.” Below:
“U.S. special forces move towards the compound of Islamic State leader Abu Bakr al-Baghdadi during a raid in the Idlib region of Syria in a still image from video October 26, 2019. “
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India
- Jammu and Kashmir ceases to be a State (The Hindu) The bifurcation of Jammu & Kashmir into two Union Territories came into effect at midnight on October 30. Girish Chandra Murmu and Radha Krishna Mathur will be sworn in as Lieutenant Governors of J&K and Ladakh respectively at two separate ceremonies on October 31.
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Other important articles
U.S.
- Pompeo says Trump-Zelensky call was ‘consistent’ with administration policy (The Hill)
- Vindman says White House lawyer moved Ukraine call to classified server: repost (The Hill)
- Trump’s Ukraine dishonesty barrage continues. He made 96 false claims last week (CNN)
- For Pelosi, the risk of not impeaching Trump has exceeded the risk of impeaching him (The Hill)
- New Jersey Democrat bucks House trend, says he likely won’t back impeachment resolution (Fox News)
- DeVos Bemoans ‘Devastating’ NAEP Scores, Pushes for ‘Education Freedom’ (U.S. News & World Report)
- Gabbard stokes fears among Democrats (The Hill)
- Twitter bans political ads after Facebook refused to do so (CNBC)
- Analysis: California is becoming unlivable (The Atlantic)
- Trump judicial nominee Lawrence VanDyke brought to tears during Senate hearing (Fox News) Appeals court nominee Lawrence VanDyke rejects claim by the American Bar Association that he would not be fair to members of the LGBTQ community.
UK
Russia
- Russia’s Gas Pipeline to Germany Clears Major Hurdle (The Wall Street Journal)
Japan
- Fire breaks out in Japan’s Shuri Castle (CNN) The building on Okinawa was originally built in the 1300s, destroyed in WW II and then restored from historical records. It has now been destroyed again. The castles is pictured below in 2018 and then being completely engulfed in flames 31 OIctober 2019.
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China
- Pompeo says U.S. must confront China’s Communist Party (Reuters)
- China says U.S. Pompeo comments a vicious attack on China, Communist Party (Reuters)
- Retired doctor, 67, gives birth in China after getting ‘pregnant naturally’ (CNN)
Brazil
- Brazilian President Bolsonaro’s media threats condemned following report on alleged murder link (CNN)
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